Archive for November 2014
A Two-Fund Solution
While I continue to battle my behavioural biases when it comes to investing, I’ve at least given some thought as to how I’d make the move to indexing from my current portfolio of dividend stocks. The answer is a two-fund solution. To make things as simple (and cheap) as possible I’d start by liquidating all…
Read MoreHigh Value Banking: How Much is the Royal Treatment Worth to You?
Imagine this scenario: you’ve gone into the bank to see about setting up a home equity line of credit, or buying a cottage, or increasing your regular RRSP contributions. You’ve sat down in the banker’s office, gone through the details of your request, and – as you’re talking about how much equity you have, what…
Read MoreHere’s Your Year-End Financial Checklist
The approaching year-end offers a great time to reflect on 2014 and look forward to 2015. It’s a good time to get organized and give some consideration to your finances. There are always changes that might be worth making to better your overall situation. Budget Take a look at your spending pattern for the year.…
Read MoreAre Investors Willing To Pay Up-Front For Advice?
One of the strongest arguments made by investment industry groups against banning embedded commissions – or the trailer fees paid to advisors when you purchase mutual funds – is that investors don’t want to pay up-front for financial advice. Advocis, which represents financial advisors across Canada, and the Mutual Fund Dealers Association, believe things are…
Read MoreWeekend Reading: Findependence Edition
Jonathan Chevreau has launched an ambitious project with the unveiling of FindependenceHub.com, a portal dedicated to all things related to financial independence. In addition to articles from Chevreau himself, you’ll also find blogs from prominent guest authors, podcasts and video content, and discussion forums for every age and stage of findependence. Definitely worth checking out.…
Read MoreConverting An RRSP To A RRIF: What You Need To Know
You’ve spent years saving for your retirement. Now it’s time to enjoy the benefits of these savings. One option is to convert your savings from an RRSP to a RRIF. What is a RRIF? A RRIF is an extension of an RRSP. While your RRSP was used to save for your retirement, a RRIF is…
Read MoreHow To Hack Gift Cards For Big Discounts
Gift cards are big business! Gift card sales were $110 Billion in the USA for 2012 and that figure is expected to rise to $150 Billion by 2015. In Canada, 1.5% of the value all retail sales are paid for using gift cards, which is crazy when you think about the convenience of paying with…
Read MoreHow To Become A Successful Investor: Prepare An Investment Policy Statement
To be a successful investor you need to control your emotions and commit to a disciplined investment plan. If you have an investment advisor or manager, he or she should have prepared a written investment policy statement (IPS) for you. This goes beyond the boilerplate “Know Your Client” questionnaire we’re familiar with. The IPS is…
Read MoreOur Shocking Basement Renovation Bill
For the past year we’ve been slowly finishing the basement in our now three-year-old home. At first we decided to take the pay-as-you-go approach and so we hired a contractor to frame the basement last July. But six months later our project hadn’t progressed at all – it was difficult to line someone up to just do one stage at a…
Read MoreWeekend Reading: Commission Bias Edition
I’ve written before about the changing tide of the investment industry and how banning embedded commissions is the inevitable next step. Advocis, an organization that represents more than 11,000 advisors across Canada, is pulling out all the stops to prevent this change from happening. The latest push came from a conference in which Advocis railed…
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