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Scotiabank CEO downplays concerns raised over Canadian debt levels + MORE Mar 21st
TORONTO _ Scotiabank’s chief executive says he disagrees with recent red flags raised over Canada’s high debt levels by an international body, and that he is “comfortable” with the lender’s risk profile.
Brian Porter told a University of Toronto conference that he had a.... More »
This health-care dividend giant has crushed the S&P 500 + MORE Jul 27th
Thanks to its growing pharmaceuticals division, the company is posting solid results and is poised to continue raising its dividend
.... More »
At midday: Wall Street little changed, with earnings in sight + MORE Oct 9th
S&P 500 third-quarter profit growth seen slowing from prior quarters
.... More »
Caring for aging parents in Canada: Financial challenges and strategies for relief Apr 12th
Did you know that 1.8 million Canadians are “sandwiched” between multiple care responsibilities, including looking after their children and aging parents? This shift in caregiving responsibilities from parent to child (especially while having kids of your own) can have significant financial.... More »
Is VGRO a good investment? What else should I buy? Jun 10th
The Vanguard Growth ETF Portfolio (VGRO) has been a staple of many do-it-yourself investor portfolios since its launch in January 2018—becoming, along with its siblings VBAL and VCNS, the first asset-allocation exchange-traded funds (ETFs) in Canada.
For a 0.24% management expense ratio (MER), .... More »
Real estate firms skirting anti-money laundering rules
– moneysense.ca
TORONTO – At least 85 real estate companies have not implemented a plan showing how they are trying to detect money laundering and other suspicious transactions, nearly 15 years after they were required to do so, according to data obtained by The Canadian Press.
The federal anti-money laundering agency received 337 compliance reports from roughly 1,000 companies in the real estate sector it surveyed — including brokers, sales representatives and developers — between Jan. 1, 2013, and Feb. 8, 2016.
The data, which was obtained through an access-to-information request, represents only a small sampling of the real estate industry. There are about 20,000 companies in the real estate sector that are required to report to Fintrac.
An analysis of the data contained in those reports found that roughly a quarter of the 337 respondents admitted they had not yet fully implemented a compliance regime, which has been required by federal anti-money laundering laws since 2001.
Top cities to buy real estate in 2016 »
Thirty-eight of the companies said they had only partially implemented a compliance regime, while the other 47 said they had not even begun to do so…
The federal anti-money laundering agency received 337 compliance reports from roughly 1,000 companies in the real estate sector it surveyed — including brokers, sales representatives and developers — between Jan. 1, 2013, and Feb. 8, 2016.
The data, which was obtained through an access-to-information request, represents only a small sampling of the real estate industry. There are about 20,000 companies in the real estate sector that are required to report to Fintrac.
An analysis of the data contained in those reports found that roughly a quarter of the 337 respondents admitted they had not yet fully implemented a compliance regime, which has been required by federal anti-money laundering laws since 2001.
Top cities to buy real estate in 2016 »
Thirty-eight of the companies said they had only partially implemented a compliance regime, while the other 47 said they had not even begun to do so…
The Toronto Stock Exchange rose to its highest close of 2016 on Tuesday, as it finished with a gain of 33.27 points to hit 13,952.85.
What to do with your extra cash
– moneysense.ca
(Getty Images)Q: I am turning 30 this year and make around $60,000 a year and was wondering what the best thing to do with some extra money is? I have $10,000 saved in an emergency fund sitting in a high-interest bank account at my bank, so I am covered in case of emergency. Is this the best place for this?
On top of that I have around $5,000-$10,000 extra I am looking to use to start investing and was wondering where it should be put. I have no debt other than a mortgage for $90,000 with 10 years left at 3% which I am already paying an extra 10% per payment towards. I have an RRSP through my work, but I am only contributing 3% in order to max out their matching 3%. I am doing the minimum because it has a high MER of about 2.75%.
I was thinking of starting a Couch Potato Portfolio via a robo-advisor site or inside of a TFSA as I have never contributed to a TFSA. I have never done any investing other than RRSPs through my jobs so I could use some advice to ensure I am using my money wisely…
