Worst Day Ever?
Will Monday February 5th go down as the worst day ever for stocks? On this day the Dow Jones industrial average lost more than 1,175 points – the worst single-day point drop in its history. But was it really the worst day ever? Investors need some context. The 1,175 point drop was indeed the biggest…
Read MoreWeekend Reading: Frustrating Financial Beliefs Edition
It’s RRSP season, a time to consider topping up your contributions to build your nest egg and reduce your taxes owning for 2017. RRSPs are a useful tax-planning tool and one of the most effective ways to save for retirement. But some retirees don’t see it that way now that they’re in the withdrawal phase…
Read MoreFebruary Is A Good Month To Do These Things
February is a busy month for your personal finances. You start to think about taxes, RRSP contributions, and making good on those January resolutions. Here are a few items to consider this month. February is a good month to… 1. Get prepared for tax season You should be starting to receive your T-slips this month.…
Read MoreTFSA Interest Rate Comparison
A Tax Free Savings Account is an excellent savings vehicle. You can now qualify for up to $57,500 in TFSA contribution room (2018), making it more worthwhile to consider using it for a long-term investment strategy. Financial institutions still promote TFSAs as strictly for savings. There’s nothing wrong with that, although if you have only…
Read MoreReady to Join The ETF Movement? Here Are 4 Tips To Get Started
2017 was a good year for the Canadian ETF market, with total assets reaching nearly $146 billion at year-end. While a far cry from the $1.48 trillion that Canadian investors held in mutual funds, it still represents 28 percent growth for ETFs in Canada. BlackRock’s iShares dominates the Canadian ETF market, boasting a 40 percent…
Read MoreWeekend Reading: Crypto Crazy Edition
This time is different – the four most dangerous words when it comes to investing. We’ve seen it time and time again. From Tulip Bulb Mania to the Dot Com Era, and the U.S. Housing Boom, exuberant market behaviour drives asset prices higher and higher until demand reaches levels that can no longer be sustained,…
Read MoreCredit Cards With No Foreign Currency Conversion Fees. What Are My Options?
Amazon.ca Rewards Visa and Marriott Rewards Premier Visa cardholders recently received a letter from their card issuer, Chase Canada, advising that these cards will be deactivated as of March 15th, 2018. It’s a disappointing, but not surprising exit for Chase, which sold its Sears MasterCard portfolio and related credit card operations; including a call centre,…
Read MoreFinding Patterns To Predict The Stock Market?
We all know about the economic cycle, the natural fluctuation of the economy going from growth, peak, contraction and trough. It looks like the bell curve you’re familiar with from school. Apart from that, millions of investors are still trying to discover a formula for timing the stock market by finding patterns. But, in any…
Read MoreWeekend Reading: Bank of Canada Hikes Rates (Again) Edition
The Bank of Canada raised its key interest rate again this week, marking the third time since last summer that they’ve increased the benchmark lending rate. It now sits at 1.25 percent, while Canada’s big banks all moved their prime ending rate to 3.45 percent. The move has financial experts warning of the impact on…
Read MoreBuilding Your Wealth: Alternative Investments
Most investments are grouped into the three traditional asset classes of stocks, bonds, and cash or cash equivalents. There are also alternative investments such as real estate, commodities, collectibles, art, and antiques which operate far differently and require more investigation, expertise and each has specific risks. Building Your Wealth with Alternative Investments Real estate Real…
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