Archive for August 2012
Why A Fiduciary Standard For Investment Advisors Is Needed In Canada
The United States, Britain and Australia have recently introduced legislation to strengthen the legal rights of investors and put in place a professional standard for investment advisors. Unfortunately, Canadian standards are far inferior. They rely on self-regulatory organizations such as the Mutual Fund Dealers Association, the Investment Industry Regulatory Organization of Canada and the Canadian…
Read MoreHow To Use A Stock Screener To Find The Best Stocks
When I started looking for some dividend stocks to add to my TFSA, one of the first places I went was the TD Waterhouse markets and research section. I was looking for a stock screener to help me narrow down my selections. I’ve held my RRSP, TFSA and RESP accounts with TD Waterhouse since I…
Read MoreAre You Counting On An Inheritance?
A recent Globe and Mail article suggested that receiving an inheritance may be a thing of the past and estate planning will be only used by high net worth people. Early reports stated that Canada’s baby boomers are on the threshold of an enormous wealth transfer from their parents – supposedly the wealthiest generation that…
Read MoreFee Only Financial Planner Vs. Commission Based Advisor
Most people don’t consider using a fee only financial planner when they’re ready to start investing. The first step is usually to meet with a financial advisor at your bank. The advisor assigned to you guides you through a basic risk assessment profile and then, based on your assessment, suggests the appropriate investments. Commission Based…
Read MoreThe Art Of Tipping
A tip (or gratuity) is defined as a sum of money tendered to certain service workers for a service performed. A tip is seldom required and its amount is usually at the discretion of the patron being served. It may not be required, but tipping is certainly expected. I recently got a haircut and added…
Read MoreHow Much House Can I Afford?
There’s an important difference between how much house can I get approved for, and how much house can I afford? Your mortgage payments should be low enough so you can take care of your monthly expenses, meet your savings goals and still have a bit of fun. Remember, it’s not just a mortgage payment you have…
Read MoreCelebrating Two Years Of Boomer & Echo
Today marks our second anniversary here on Boomer & Echo, and it’s been an unbelievable journey. In two years, we’ve written over 500 posts, gained more than 3,500 subscribers, seen over 635,000 visits and had nearly 1 million pageviews. When I first stumbled on a popular personal finance blog called Million Dollar Journey, I spent…
Read MoreWhy Is It So Hard To Sell Those Investment Dogs?
An investment dog is an underperforming stock or fund. Typically, investment dogs have dropped in value, sometimes substantially, and then stagnated. Belief in the asset itself, that its value will rebound and the desire to recoup the original investment keeps investors hanging on. Emotional Attachment Making the decision to sell low is quite often painful…
Read MoreUsing ETFs Inside Your RRSP
Exchange traded funds have become more popular as investors realize the benefits of lower investment costs and diversification. Most ETFs track a specific index, like the S&P TSX 60, or the S&P 500, and they are traded on stock exchanges – just like individual stocks. Unlike with mutual funds, which can be traded for free,…
Read MoreInteresting Survey: How Women View Money Matters
A survey I saw recently asked women, age 45 to 64, how they viewed money matters. Here are some of the questions and my comments on the results. What is the most important goal for you in your career now? 16% of responders said they wanted to retire or retire early, but 62% said they…
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