Archive for June 2017
Weekend Reading: Canada 150 Edition
Happy Canada Day! We hope you all get a chance to enjoy the Canada 150 celebrations happening across the country. We’re driving southwest to Waterton Lakes National Park to hike The Bear’s Hump and take in the beautiful scenery at this UNESCO World Heritage Site. We’ll also check out Red Rock Canyon and hopefully spot…
Read MoreWhat Exactly Does Your Home Insurance Policy Cover?
I recently received my home insurance renewal notice. The company I deal with merged (or was bought out?) by another company and the accompanying letter advised reviewing the policy to make sure I was getting the appropriate coverage. Being obsessive that way, I did go through it with a fine-tooth comb. I don’t want to…
Read MoreNet Worth Update: 2017 Mid-Year Review
We’re nearly halfway through the year and so it’s time for my bi-annual net worth update and review for 2017. I was happy to surpass the $500,000 net worth milestone last year and, after paying off our car loan in October, looked forward to cranking up our savings rate and refilling our TFSAs this year.…
Read MoreWeekend Reading: The Canada Project Edition
The Canada Project, a survey launched by Maclean’s to mark Canada’s 150th birthday, explores what Canadians love about their country, and what they’d like to see improve. There’s some fascinating information coming out of the survey: how we feel about travel and transportation, about our patriotic drinking habits, and why we hate Nickelback. Several other…
Read MoreFrom The Boomer & Echo Mailbag: Understanding Withholding Taxes On Foreign Investments
Q. What types of foreign investments can Canadian investors invest in their RRSP, TFSA and Non-Registered accounts that don’t charge withholding taxes? Canadian investors get enormous benefit from diversifying their portfolios with U.S. and international stocks, but it can come at a cost – foreign withholding taxes. In a nutshell, many foreign countries including the…
Read MoreThe Hierarchy Of Financial Needs
If you’ve ever taken a psychology course you may be familiar with Abraham Maslow’s Hierarchy of Needs. In ascending order, the needs are: Physiological Safety Social / Belonging Esteem / Achievement Self-Actualization / Reaching your potential The theory states that people need to fulfill their basic needs before devoting energy to the higher levels. So,…
Read MoreHow We Save For A Spend-y Summer
Pay yourself first. It’s one of the core tenets of personal finance. Treat your savings like an obligation – your number one priority, in fact – and you can spend what’s left in your bank account guilt-free. I’m a bit of a misfit when it comes to saving money. I don’t actually pay myself first…
Read MoreWeekend Reading: Checking In On My Goals Edition
We’re almost halfway through 2017 already and it’s a good time to reflect on my financial goals for the year and check in on my progress. To summarize, I wanted to max-out all of my unused RRSP contribution room, start catching up on TFSA contributions, pay off our home equity line of credit, max-out the…
Read MoreAsk A Career Expert: How To Negotiate A Job Offer Like A Professional
Accepting a new position is an exciting time for almost everybody. Emotions are running high as the candidate thinks about all the new opportunities and challenges that lay ahead, and their employer (hiring manager, and HR) will be relieved to fill their position after what may have been an exhaustive search. Unfortunately, many candidates let…
Read MoreEstate Planning Options For Your TFSA
Tax Free Savings Accounts have become a popular saving and investment vehicle for many Canadians. They have also potentially become a significant portion of retirement savings. When TFSAs were first introduced I thought they were pretty straightforward. However, we still get lots of questions, and Gordon Pape wrote an entire book about them (The Ultimate…
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