How TFSAs Can Make You Rich
Tax-Free Savings Accounts have been touted as the most powerful investment option for Canadians since RRSPs were introduced more than 50 years ago. On the surface, TFSAs are a simple personal savings program which allows Canadians over the age of 18 to contribute $5,500 per year into a plan and then withdraw the money, tax…
Read MoreThe Many Hidden Costs of Travel
My wife and I just recently got back from a trip to Toronto where I was reminded of all the little extras that can add hundreds of dollars to a flight. You’ll go through them from the time you walk into the airport to when you get off your flight at your destination. Some are…
Read More6 Steps To Creating A Sound Financial Plan
Q. I don’t have a large income or a lot of investments. How can a financial planner help me? You don’t have to be wealthy to make a financial plan. A financial planner can help you in the following ways: 1. Clarify your current situation A planner will provide you with a personal and financial…
Read MoreThe Beginner’s Guide On How NOT To Start Investing
I was 19 or 20 years old when I first started investing. I diligently put money aside every paycheque, starting with $50 every two weeks and eventually increasing that to $200 per month. Sounds like I was off to a great start, right? Wrong! Related: How Young Investors Can Get Started Even though my intentions…
Read MoreHow Young Investors Can Get Started
Investing can be intimidating for young investors who are starting out. The wealth of information available online is a two-edged sword. You can learn just about anything you want, but with so much information available how do you tell the difference between good information and bad? Related: Where Do You Get Your Financial Information? And…
Read MoreHow To Pick The Perfect Mortgage
Buying a home, especially for the first time, is an exciting venture, but once you’ve been pre-approved for a mortgage amount and found the perfect property you’ll need to make a decision on the right mortgage for you. When my parents bought their first home here, after immigrating to Canada in the mid 1960’s, their…
Read MoreHow Much Of Your Income Should You Save?
One of the biggest challenges many of us face is how to save for retirement when so many other things are competing for our hard earned dollars. How much of your income should you save for retirement? Wealthy Barber author David Chilton suggests you should save 10% of your gross income for retirement. Any other…
Read MoreHow To Secure Your Social Media & Online Presence
With the recent hacking of the Associated Press’ Twitter account, which led to a flash crash in US markets, the security of social media accounts is again in the spotlight. There have been numerous hacks of these sites and the people who use them in recent years. Celebrities had their Twitter accounts hacked in 2009…
Read MoreLending Money To Friends And Family
“Neither a borrower nor a lender be.” Polonius in Shakespeare’s Hamlet knew that lending money to a friend or family member often results in the loss of both the money and the relationship. But when someone you love is in a serious bind and you have the means to help it can be impossible to…
Read MoreThree Ways To Save Money On Your Family Vacation
Taking a family vacation can feel more like work than a holiday when you have two kids under the age of four. Still, I think it’s important to get away from our routine every few months, even if it’s just for a short trip. Last week, after packing what seemed like the entire contents of…
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