Investing

Borrowing money for investment purposes offers the ability to gain financial leverage.  Leveraging when used prudently can dramatically magnify your goals, adding some muscle to your portfolio more quickly. You are familiar with the concept of leveraging if you have ever: Borrowed to make a contribution to your RRSP Bought securities on margin from your…

It’s been a while since I’ve given an update on my RRSP portfolio.  I made RRSP contributions for 10 years when I worked in the private sector (taking advantage of employer matching contributions), but I changed careers in late 2009 and moved to the public sector.  Now that a significant portion of my salary goes…

There is an entire industry devoted to helping adults save for retirement. Company pensions do not exist any more except in few rare instances, and even when they do, the current economic environment and the increasing job mobility makes it difficult for any employee to put in enough years at an employer to grow it…

Many companies offer a DRIP, or dividend reinvestment plan, which permit stockholders of record to buy additional shares directly from the issuing company with money earned from dividends, instead of receiving the dividend in cash.  Most DRIPs are free of charge while some charge a nominal fee for reinvestment. A DRIP is a great way…

Tax Free Savings Accounts are excellent savings vehicles for Canadians.  They can be used for short term savings goals, or as part of a longer term retirement strategy. Canadians start building contribution room in their Tax Free Savings Accounts once they turn 18.  Money can be withdrawn from a TFSA at any time, with no…

Nothing gets customers riled up like the announcement of a fee increase.  Banks and utilities often draw the ire of customers, and for good reason.  Canadians have been getting nickel-and-dimed by the big banks and utility companies for years Scotiabank and CIBC will increase fees on personal bank accounts beginning March 1st and April 1st,…

Be careful of claims of guaranteed above average returns with no risk. Look at some of the red flags that can indicate a fraudulent scheme.

If you simply don’t have the money to come up with an RRSP contribution you may think that getting an RRSP loan is the only solution.