Archive for May 2013
Airbnb Crack Down: Short Term Landlords Beware!
The short term vacation rental site AirBnB has been making lots of headlines in the last week but not for the right reasons. News has been circulating that local governments, including Quebec, are taking issue with several aspects of the wildly popular website. Taxes, permits, and the effect of increased tourism in local communities have…
Read MoreBlowing Bubbles
The company had no problem attracting investors desperate for a place to put their money. People rushed to purchase shares so they wouldn’t be left out, scraping together whatever money they could, seeing only boundless opportunities for gain. Excitement and tension increased in the same proportion as the increase in stock prices. Plans were made…
Read MoreGold Plated Pensions: Have We Seen The Last Of Them?
Most defined benefit pensions – also known as gold plated pensions – were designed in an environment that supported and encouraged early retirement. But things are different today. We’re living longer. Life expectancy increased from age 75 to age 82 in the last 35 years. Gold plated pensions in the private sector have disappeared, while public…
Read MoreWeekend Reading: TFSA Book Giveaway Edition
On Monday, I wrote a review of Gordon Pape’s new book, How TFSA’s Can Make You Rich. We promised to give away a copy of that book, plus a copy of, Money Savvy Kids, to one lucky reader. Congratulations to Bryan, whose comment left at 7:33 AM Monday proved to be the winning entry. I’ll…
Read MoreThe Three C’s Of Canadian Investors
What are the biggest mistakes people regularly make when trying to reach their financial goals? Canadian investors are often guilty of being too cautious, too conservative and too cheap. Related: Avoid These 4 Investing Mistakes Cautious While no one would advocate taking imprudent risks, being too cautious with long-term investments and sacrificing long-term return for…
Read MoreHow 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…
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