Archive for April 2015
Do You Have An Unclaimed Bank Account?
Have you ever moved and forgotten about an old bank account? The Bank of Canada holds about $532 million dollars of unclaimed money dating back to 1900. Where does the money come from? Bank of Canada unclaimed balances are Canadian dollar deposits or negotiable instrument that were held at a bank or trust company. They…
Read MoreImprove Your Home With Good Landscaping
When the weather starts warming up in the spring my thoughts turn to spending more time outdoors. Those of you who own a house can increase your living space and activities with good landscaping. Our homes are probably the most important financial investments we’ll ever make. While we often spend time and money upgrading appliances,…
Read MoreWeekend Reading: Budget 2015 Edition
The federal government delivered a package of goodies for seniors and middle-class families in its 2015 budget this week. The TFSA contribution limit was increased to $10,000 – fulfilling an election promise from 2011 – however it will no longer be indexed to inflation. Changes were made to the RRIF withdrawal schedule – effective immediately a 71-year-old…
Read More4 Simple Tools To Stop Drowning In Debt
Not a day goes by on the news without hearing how Canadians are struggling with their debt load. It has become a simple fact of life that we are consuming our way through life, using someone else’s money. For the past decade, I have closely observed the behaviors that lead people down the path of…
Read MoreWhat’s The Right Amount Of Retirement Income?
“Money may not be the most important thing in life, but it’s way up there with oxygen.” – Zig Ziglar How much is enough? That’s a question that’s asked often. Everyone measures the concept of “enough” differently. Some of us think in terms of dollars per month or year: $50,000 per year $5,000 per month Or,…
Read MoreWhy Living Off The Dividends No Longer Appeals To Me
When I envisioned my retirement years, I dreamed of being so unbelievably wealthy – so fabulously rich – that I’d happily live off the income generated from my multi-million dollar investment portfolio. As I began my investing journey, the idea of living off dividends had tremendous appeal. After all, what retiree wouldn’t love the thought of collecting…
Read MoreWeekend Reading: Passport Renewal Edition
My wife and I first got passports prior to our wedding and honeymoon in 2006. I last travelled to the U.S. in 2011 when I attended a conference in Orlando, Florida, just a few months before the five-year passport expired. Since then, changes to Canada’s passport program include the new e-Passport, along with the option to apply for…
Read More9 Money Myths That Experts Wish You’d Stop Believing
Many of our common beliefs about money come from rules of thumb that have been passed down from previous generations. Old adages, such as pay yourself first and spend less than you earn, have stood the test of time. Other ideas, however, don’t hold up as well today, or were flat-out wrong to begin with.…
Read MoreAre You Cut Out To Be A DIY Investor?
Many investors – not happy with their advisers for whatever reason – feel they can do a lot better themselves, especially when the market is booming and their friends and co-workers are bragging about their winning investment performance. DIY investing can appear to make sense for a lot of people. However, studies have shown that…
Read MoreHow We Find Joy in the Smallest Things – Like Cash Back
It’s amazing how we can always find joy in the smallest of things. Like when I lingered too long at a downtown coffee shop last week and expected to find a parking ticket – but to my surprise a Good Samaritan had plugged the meter for me before time expired. Or the time we went…
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