Archive for April 2015
Weekend Reading: $11,000 TFSA Limit Edition
The federal budget will be unveiled April 21st and one of the hot-button issues is whether the conservatives will follow-through on an election promise to double the TFSA contribution limits. In a confidential letter leaked to the media this week, finance minister Joe Oliver indicated the government would honour that promise and increase TFSA limits to…
Read MoreAre Deferred Sales Charges Holding You Back?
Many investors eventually come to the realization that the mutual funds sold by their bank or investment firm come with unjustifiably high fees. Making the switch to low cost index funds or ETFs sounds like the easiest, most logical choice, however there is typically one final hurdle for investors to overcome. Deferred sales charges –…
Read MoreThrowback Thursday: University Education in 1965 vs. 2015
Canadians invest in post-secondary education to improve their chances of getting a well-paying job. Because of the demographic boom most Canadian universities more than tripled student enrolment in the mid 1960’s and started a huge building expansion. Older, more established universities increased faculty numbers and expanded their facilities, while new universities were built to accommodate further…
Read MoreKids Bailing Out Parents
Loving parents will occasionally help their children in a financial crisis and/or pay outright for certain expenses: University tuition and expenses – either through funding RESPs or directly when they are due. Help with the down payment on their first home. Wedding costs. Provide a place to stay when unemployed, divorced, etc. We also often…
Read MoreFree Seminar: Learn How To Get Ripped Off
This week, Toronto area residents will be treated to a “unique opportunity” to learn how to grow their personal wealth by buying and selling real estate. Participants in this free workshop will discover the ingredients for success in real estate, sources of money to fund investments, locating deals in the hidden market, and creating multiple…
Read MoreWeekend Reading: Death of Retail Edition
It’s been a bad year for retail stores in Canada. Last week, Future Shop joined the ranks of Target, Sony Corp, Radio Shack, Mexx, and Smart Set, by abruptly closing 66 of its 131 stores (with plans to convert the remainder into Best Buy locations). The “Amazon effect” is partly to blame, according to researchers, as Canadians…
Read MoreManaging a Budget in an Expensive City: A Boomer & Echo Financial Makeover
Susan Wilson (28) landed a position doing communications and marketing for a major charitable organization. She earns $68,000 and has full benefits. Susan moved from a smaller town to Toronto but, even with a bigger paycheque, she now has less disposable income because of the higher cost of living. She is more mindful of her…
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