Archive for May 2017
The Pitfalls Of Naming Your Children Co-Executors
I was named executor on both my father- and mother-in-law’s wills. I had copies of the wills and other documentation I might need. So, imagine my surprise when I just recently found out that I am a co-executor on my own parents’ wills. These wills were prepared in 1992 and I was thinking – “When…
Read MoreKnow Your Client: The Importance of an Accurate KYC
According to IIROC (Investment Industry Regulatory Organization of Canada), more than half of the complaints they receive are about investment issues – in particular, unsuitable investments. Many of these problems can be avoided with an accurate “Know Your Client” (KYC) document in place. This document is not just another piece of administrative paperwork. It is…
Read MoreHow CDIC Would Protect Your Deposits If Home Capital Goes Bankrupt
Canada has not seen a bank failure since Security Home Mortgage Corporation, a Calgary-based company, went bankrupt in 1996, putting $42 million in bank deposits at risk. Two decades later we have another mortgage company, Home Capital Group, teetering on the brink of bankruptcy. Deposits at Home Capital were expected to fall to $192 million this week,…
Read MoreForget the Excuses. Here’s a Brain-Dead Easy Way to Start Investing
Many people know they should invest for the future but for one reason or another the investing can gets kicked down the road. Maybe they’re living paycheque to paycheque and can’t free up enough cash to invest, or they simply don’t have time to make an appointment with an advisor to draw up an investment…
Read MoreWeekend Reading: Teaching Financial Literacy Edition
“We really ought to teach financial literacy in school.” That’s the default answer from financial experts when we hear another story about Canadians who are up to their eyeballs in debt. It’s not that I disagree – I’d love to see a broad curriculum of age-appropriate financial topics all throughout school. The problem lies in the…
Read MoreWhat Everybody Ought To Know About This Stock And Bond Business
Back in 1946, a man named Louis Engel was hired to run the advertising and promotions at Merrill Lynch. Engel’s unorthodox approach to advertising resulted in thousands of leads for Merrill Lynch brokers nation-wide. How did he turn the investment industry on its head? By taking the investment broker lingo out of its advertisements, simplifying the message,…
Read MoreWhen Is A Pension Buyback Worth It?
Many workers have missed years of service in their employment history. Years away from work to raise children, recover from an illness or injury, go back to school, or other absence can reduce future pension payments. If you are enrolled in a defined benefit pension plan you may be allowed to buyback those periods during…
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