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Enough Bull: The bull about GICs
GICs are important but so are stocks. Recently one of my friends and an exceptional advisor in Sarnia, Jeff Burchill, wrote to me irrate about some things said in an article by David Trahair. Essentially, Trahair says makes one very bold, controversial and contrarian statement like "Put your hard-earned savings only in ultra-safe GICs -- and rest assured that you are earning returns on par with those in the stock market."
3/1/2010
Reverse Mortgages: Getting money out of your home in retirement
When people think about getting money out of their paid off homes in retirement, reverse mortgages are usually the first thought that comes to mind. A reverse mortgage is simply a loan that is secured by the equity you have in your home. It is designed for retirees who want to access some of the equity in their home to supplement their retirement lifestyle.
2/24/2010
Everything You Need to Know About RRIFs
Most Canadians choose a Registered Retirement Income Fund (RRIF) as their retirement income option. A RRIF is a comfortable transition because of its similarity to an RRSP. A RRIF provides a high level of control over the investments in your retirement plan...
2/17/2010
Do you know how financial advisors get paid?
Sometimes there is a mystery as to how and how much financial advisors get paid. Naturally, I believe advisors should get paid for the service they provide. However it is imperative that investors start asking more questions around compensation. There are three main types of advisors.
2/16/2010
Advice for GIC Investors
When markets take a hit, money market funds become some of the top sellers in the mutual fund industry. Investors get nervous about markets and jumped to safe investments like money markets, bonds and GICs (Guaranteed Investment Certificates). For any investors considering GICs (otherwise know as term deposits) for this years investments, consider some of these thoughts:
2/9/2010
Advantages of Self-Directed RRSPs
The mutual fund market has now grown exponentially over the last 20 years. Equity investing has become more popular than ever and investors are more knowledgeable than ever. We now have more investment choices than we have ever had and our access to information is infinite.
2/4/2010
The Great RRSP Debates
RRSPs are perceived to be one of the best savings vehicles for retirement because of some of the tax benefits of the RRSPs. That being said, there are more and more people are questioning the validity of RRSPs and whether they really make sense? Given many alternative uses for money, I outline three great debates of RRSPs.
1/27/2010
RRSP Quick Facts 2010
It’s that time again when Canadians go out and buy RRSPs for the past year. Here are some of the rules and regulations for RRSPs for 2010.
1/15/2010
Minimizing Old Age Security Clawback
Is OAS clawback a big issue? On one hand, the answer is yes because it is like an additional 15% tax on top of the current marginal tax rates. However, according to Human Resource Development Canada, only about five percent of seniors receive reduced OAS pensions, and only two percent lose the entire amount. In terms of planning, if you are one of these people who face losing some of the OAS due to clawback because your income over the age of 65 will be higher than $66,335, then you need to consider some simple strategies to help you minimize the clawback.
11/17/2009
New proposed changes for CPP
On May 25, 2009, Federal, provincial and territorial Ministers of Finance recommended changes to the Canada Pension Plan (CPP). The proposed changes are intended to modernize the plan to better reflect the many different paths people take to retirement today. The proposed changes will provide greater flexibility for older workers to combine pension and work income if they wish; modestly expand pension coverage; and improve fairness in the Plan's flexible retirement provisions. The proposed package is affordable within the current CPP contribution rate of 9.9% on earnings up to average wages and could improve the long-term sustainability of the Plan. Canadians need to be aware of these changes because it affects everyone in the work world especially those planning to retire around 2011.
11/10/2009
Will Canada Pension Plan (CPP) be there when you retire?
Canada Pension Plan (CPP) is one of the pillars of retirement income benefits for Canadians. For the past 20 years since I have been in the financial industry, there has always been a perception that CPP may not be there in retirement. This article will help you understand the facts to help you recognize 6 reasons why CPP will be there in the future.
10/29/2009
Smart Tips for Estate Planning
What could be more tragic that having your life savings squandered and your family left unprotected? Many Canadians risk these consequences because they do not know how to plan for their estates after they die. With Smart Tips for Estate Planning, you will learn the critical knowledge necessary to maximize the value of your estate and provide the maximum protection for your loved ones.
10/19/2009