Posted by Jackelyn Ford on Friday, January 14, 2022,
https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/rrsps-related-plans/what-home-buyers-plan/participate-home-buyers-plan.html#first-timehomebuyerThe Home Buyers' Plan (HBP) is a program that allows you to withdraw funds from your Registered Retirement Savings Plans (RRSPs) to buy or build a qualifying home for yourself or for a related person with a disability. The HBP allows you to pay back the withdrawn funds within a 15-year period.
You can withdraw funds from more tha...
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Advisor value is nearly triple the typical advisory fee: study
Posted by Jackelyn Ford on Friday, January 14, 2022,
https://www.investmentexecutive.com/news/research-and-markets/advisor-value-is-triple-the-typical-advisory-fee-study/A study from Toronto-based Russell Investments Canada Ltd. has found that financial
advisors deliver value at a level almost triple the typical advisory fee of 1%.
The firm’s fifth-annual Value of an Advisor study pegged the value of an advisor who performs
comprehensive wealth management at 2.88% in 2020. This is up from 2.79% in 2019.
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CNBC: 10 bad money habits to break to build wealth in 2018
Posted by Jackelyn Ford on Tuesday, January 23, 2018,
https://ca.finance.yahoo.com/news/10-bad-money-habits-break-143700769.htmlKathleen Elkins | December 29, 2017If you want to get rich in 2018, try taking advice from those who have already done it. There are certain wealth-building habits that successful people swear by. And it's just as important to avoid toxic behaviors that can derail your finances.
If you're looking to make major financial strides in 2018, start by ditching these costly habits.
1. Making late payments
There's more to late pa...
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The Star: Your Wealth May Be Hiding In Plain Sight
Posted by Jackelyn Ford on Wednesday, October 25, 2017,
https://www.thestar.com/business/personal_finance/2017/10/02/your-wealth-may-be-hiding-in-plain-sight-vaz-oxlade.htmlGail Vaz-Oxlade | October 2, 2017
I once met a woman who was a little frustrated with her own good sense. “It’s so hard to see my friends and co-workers going on trips, buying new cars and eating out all the time — and not want that stuff too,” she said.
This woman was completely honest about how much she struggled with the idea of keeping up with the Joneses.
“My next d...
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The Star: Your Wealth May Be Hiding In Plain Sight
Posted by Jackelyn Ford on Wednesday, October 25, 2017,
https://www.thestar.com/business/personal_finance/2017/10/02/your-wealth-may-be-hiding-in-plain-sight-vaz-oxlade.htmlGail Vaz-Oxlade | October 2, 2017
I once met a woman who was a little frustrated with her own good sense. “It’s so hard to see my friends and co-workers going on trips, buying new cars and eating out all the time — and not want that stuff too,” she said.
This woman was completely honest about how much she struggled with the idea of keeping up with the Joneses.
“My next d...
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Golden Girl Finance: How to get ahead financially
Posted by Jackelyn Ford on Tuesday, February 21, 2017,
http://goldengirlfinance.com/inspiration/?post_id=1970Golden Girl Finance | August 29, 2013
Forget blind luck - you have the power to ensure you make long-term progress each and every day...month...year...
You go to work, collect an income, and pay your bills on time. You diligently send off checks for your long-term obligations. You pay off your credit card minimum (and more) every month. And then a new month begins…and you do it all over again. That’s good money management, right?
Not so f...
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Globe Advisor: Small businesses buy into benefit plans
Posted by Jackelyn Ford on Tuesday, August 9, 2016,
http://www.globeadvisor.com/servlet/ArticleNews/story/gam/20131009/RBCABENEFITSATLBrenda Bouw | October 9, 2013It was after his company doubled in size to more than 30 employees that Sol Cuisine Inc.president Dror Balshine decided it was time to offer a company benefit plan.
"When I was interviewing people, it always came up," said Mr. Balshine, whose Mississauga-based company sells vegetarian burgers and tofu products.
For a company that promotes healthy choices, it also seemed like a no-brain...
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Globeadvisor: Longer lives, new investing approaches
Posted by Jackelyn Ford on Tuesday, August 18, 2015,
http://www.globeadvisor.com/servlet/ArticleNews/story/gam/20131005/GICARRICKPORTSTRAT1004ATLRob Carrick | October 5, 2013
Longer lifespans require sharper thinking about how you divide your money between stocks and bonds.
That means no more using the rule of 100 minus your age as the percentage you put into stocks, with the rest going into bonds. The results you get from this type of mix are too conservative for a world where people are living longer and thus putting greater demands on their re...
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Morningstar: Concerned about longevity? Four mistakes to avoid
Posted by Jackelyn Ford on Monday, July 13, 2015,
http://cawidgets.morningstar.ca/ArticleTemplate/ArticleGL.aspx?id=666245&culture=en-CAChristine Benz | October 3, 2014
A few years ago I attended the 100th birthday party for a family friend. Following a round of toasts and tributes, this never-married, lap-swimming centenarian treated her admirers to a rousing song-and-dance rendition of "Yankee Doodle Dandy." And she wasn't alone on the dais: Her older sister, a former member of the Women's Army Corps, joined her.
These two are the only 100-y...
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Morningstar: Budgeting for baby
Posted by Jackelyn Ford on Monday, July 6, 2015,
http://cawidgets.morningstar.ca/ArticleTemplate/ArticleGL.aspx?id=654201&culture=en-CAGail Bebee |July 2, 2014
Welcoming a new baby into the family is a fundamental facet of the human experience. Beyond the celebration of this wondrous and life-altering event lie many practical consequences. Your new bundle of joy is a human being that will require nurturing for the next 20 years or more.
That nurturing comes with a hefty price tag. A 2013 Fraser Institute report pegged the annual cost to raise...
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CBC: Cancer survivors' income falls $5K a year
Posted by Jackelyn Ford on Monday, June 8, 2015,
http://www.cbc.ca/m/news/health/cancer-survivors-income-falls-5k-a-year-statscan-finds-1.2782380CBC News | September 30, 2014
Cancer survivors see a $5,000 drop in income, on average, a year after their diagnosis, according to a new report by Statistics Canada.
Tuesday's report linked census, cancer registry and vital statistics databases with personal income tax records to evaluate the effects of cancer on employment status and earnings.
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Golden Girl: Are you saving enough?
Posted by Jackelyn Ford on Tuesday, April 7, 2015,
http://goldengirlfinance.com/inspiration/?post_id=1921Lena Rizkallah | August 15, 2013
My teenaged nieces came to visit me in New York a few weeks ago. Besides spending three hours agonizing over what color “cheeksters” to buy at Pink, waiting another 45 minutes for them to stand in line to try on ONE tank top at H&M, and then rounding out the rest of the day with more, um, shopping (i.e. THEM going through racks of midriff-baring tops and teeny ’distressed’ jean shorts, ME sitting in...
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Morningstar: Are you due for an insurance check-up?
Posted by Jackelyn Ford on Thursday, March 12, 2015,
http://cawidgets.morningstar.ca/ArticleTemplate/ArticleGL.aspx?culture=en-CA&id=634659Deanne Gage | November 2, 2014
When we think about our investments, we generally review things at least every year. But how often should we be reviewing our insurance policies? Bruce Cumming, a financial planner and president of Cumming & Cumming Wealth Management in Oakville, Ont., likens insurance strategies to wills and estate planning -- something to definitely update but not every year. He reviews insura... Continue reading ...
Morningstar: Zen & the art of portfolio management
Posted by Jackelyn Ford on Tuesday, February 3, 2015,
http://cawidgets.morningstar.ca/ArticleTemplate/ArticleGL.aspx?culture=en-CA&id=661815
Christine Benz | August 23, 2014
Pssst. I've got an investment secret for you. In fact, I can say with some certainty that it is the best tip you'll ever encounter. It's so powerful that it will enable you to sleep easily at night and serenely go about your business even while everyone else is freaking out.
I can sum up this strategy in just three words. TUNE IT OUT.
Tune out the talking heads on TV who purport...
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Financial Fitness Quiz - Take the challenge!
Posted by Jackelyn Ford on Tuesday, November 25, 2014,
Moneysense: Catch up to unused RRSP contribution room
Posted by Jackelyn Ford on Monday, August 18, 2014,
http://www.moneysense.ca/columns/catch-up-to-unused-rrsp-contribution-roomStefania Di Verdi | April 23, 2013
By now many Canadians have received
their government issued tax refund cheques in the mail, the eager beavers have
anyway. The rest have until April 30 to file their 2013 income tax return
without fear of penalty.
The prospect of getting money back
is just too good for this eager beaver so I file early every year. I case
you’re wondering, I won’t be blowing my tax refund on a shoppin...
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CBC: 10 myths about taxes that mislead Canadians
Posted by Jackelyn Ford on Friday, April 4, 2014,
http://www.cbc.ca/news/business/taxes/10-myths-about-taxes-that-mislead-canadians-1.2508364Tom McFeat | March 11, 2014A certain amount of folklore has developed over the years around the income tax system and the filing of tax returns, but many of those age-old perceptions are no longer accurate.
File by April 30 or face potential penalties
Here are some common myths — and the corresponding facts that could mean extra money in your pocket or at least prevent you from running afoul of the Cana...
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Globe & Mail: Your biggest asset? You!
Posted by Jackelyn Ford on Friday, August 30, 2013,
http://www.theglobeandmail.com/globe-investor/personal-finance/financial-road-map/advmanulife/advmanulifearchives/your-biggest-asset-you/article4217512/The Globe and Mail | June 11, 2012
Canadians’ ability to earn income is usually their biggest asset, more valuable even than their home or other investments, and that asset is at greater risk than many realize, through death, disability and illness, says Steven Parker, Assistant Vice-President, Product and Marketing, Individual Insurance, Man...
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BNN: 29% of households living paycheque to paycheque
Posted by Jackelyn Ford on Wednesday, May 29, 2013,
http://www.bnn.ca/News/2013/5/22/One-third-of-households-living-paycheque-to-paycheque.aspxBertrand Marotte | May 22, 2013
One-third of Canadian households over the past year never or almost never had enough money left over after paying essential expenses, says a new report.
A survey conducted for the Certified General Accountants Association of Canada indicates that 29 percent - or three in 10 - households found it difficult to sock away any money once key bills were paid.
The poll also shows t...
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Goldengirlfiance.com: Shacking up is hard to do (common law can cost you)
Posted by Jackelyn Ford on Tuesday, May 28, 2013,
http://www.goldengirlfinance.com/inspiration/?post_id=65Golden Girl Finance | May 5th, 2010
That song had it right...breaking up is hard to do. But it’s infinitely harder when you add ‘shacking up’ to the equation. Suddenly, though you were too cautious to take the marriage leap (and for good reason if you’re now in break-up mode), you may still have to take on the woes and financial costs of a divorce. And while this can be a good thing in divvying up assets if you were in a very long...
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BNN: Whatever happened to Freedom 55?
Posted by Jackelyn Ford on Monday, February 18, 2013,
http://www.bnn.ca/News/2013/2/1/Whatever-happened-to-Freedom-55.aspx
Dale Jackson | February 1, 2013 Freedom 55 was a marketing campaign from London Life Insurance in the mid 1980s that exemplified the optimism of a 25 year bull market in its early stages. The ads showed healthy middle-aged couples climbing mountains and sailing into the sunset.Fast forward to the post 2007 financial meltdown and Freedom 55 has become a cruel joke. A recent survey by Sun Life Financial found the average Cana...
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Globe & Mail: Why renting can be the right choice for aging boomers
Posted by Jackelyn Ford on Tuesday, March 6, 2012,
http://www.globeadvisor.com/servlet/ArticleNews/story/gam/20110628/GICARRICKCOLUMNCARRICKATL Rob Carrick, The Globe and Mail | June 28, 2011
Sell your house and rent: If you're a baby boomer entering retirement, that could be the financial move of a lifetime.The case for selling the family home starts with the fact that years of strong price increases have hugely increased the value of homes across the country over the amount paid for them. What to do with the proceeds after you sell? Invest...
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Globe&Mail: Getting a big tax refund just means you've overpaid
Posted by Jackelyn Ford on Wednesday, May 25, 2011,
http://www.globeadvisor.com/servlet/ArticleNews/story/gam/20101216/GICESTNICK1216ATL
Thursday, December 16, 2010 |TIM CESTNICK
I should have studied psychology in university. It might have been
helpful in understanding people - especially my wife. I will pay $50 for
a $30 item that I really need, but she'll pay $30 for a $50 item she
doesn't need, just because it's on sale. Where I have exactly seven
items in the bathroom that belong to me (toothbrush, toothpaste, dental
floss, razor, shav...
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CBC: Feel better - get a financial plan
Posted by Jackelyn Ford on Friday, November 26, 2010,
http://www.cbc.ca/cp/Money/cab1615.htmlTalbot Boggs, The Canadian Press - October 4, 2010It's one of those feel-good stories, literally.
If you want to feel better about the future, you should get a financial plan.
That's the main message from a recent study
conducted by The Strategic Counsel for the Financial Planning Standards
Council.
The first phase of the five-...
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Globe&Mail: Canadians need to save more
Posted by Jackelyn Ford on Thursday, March 18, 2010,
Janet McFarland, The Globe and Mail - March 18, 2010
Canadians need to save between 10 percent and 21 percent of their pretax incomes each year - if they save consistently for 35 years - to have comfortable retirement incomes, according to a new report by former Bank of Canada governor David Dodge.
The report says many Canadians are unaware of the high savings levels they need for their retirement years, and may believe they are saving adequately when they are not.
The report, co-author...
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CTV News: Many Couples Don't Share Retirement Dreams
Posted by Jackelyn Ford on Thursday, March 4, 2010,
http://www.ctv.ca/generic/generated/static/business/article1446441.htmlMany couples don’t share same retirement dreams
Chaya Cooperberg
My husband and I talked about a lot of things before we decided to marry, but not about our retirement plans. It just seemed too far off when we were graduating from university and had yet to make an RRSP contribution. Still, discussing your vision for retirement with your significant other is just as important as any other major life decision, such as ...
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Chatelaine: 15 Tips to Save Money
Posted by Jackelyn Ford on Wednesday, January 27, 2010,
http://en.chatelaine.com/english/moneymavens/article.jsp?content=20081203_122736_19592&page=2
15 tips to save money
Easy ways to save money everyday and live on the cheap without sacrifice
By Marlene Rego
Shop (and sell) online
Craigslist.org, ebay.ca, and Kijiji.ca are all great resources for online purchases big or small. Plus, they're a great way to find unique gifts and marked down big ticket items. There are some things to keep in mind – always buy from trustworthy, reputable sellers an...
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