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What to do when you have insufficient or unused RESP funds Aug 14th
Registered education savings plans (RESPs) are the best way to save for a child’s post-secondary education. Contributions attract government grants, and the accounts grow tax-deferred. Withdrawals can be used for trade school, college or university funding in Canada and abroad.
According to Sta.... More »
Making sense of the markets this week: June 12 Jun 10th
Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, shares financial headlines and offers context for Canadian investors.
Five-Dollarama
In an otherwise quiet North American earnings week, investors looked to the Dollarama (DOL/TSX) earnings call .... More »
Inside Kevin O’Leary’s investing fund misadventure + MORE Apr 11th
Kevin O’Leary is flanked by Steven Blaney, left, and Kellie Leitch at the Conservative leadership candidates’ debate, in Halifax on Saturday, Feb. 4, 2017. THE CANADIAN PRESS/Andrew Vaughan
In 2008, Anita Bell took a job with O’Leary Funds Management, the investment firm co-founded by .... More »
Podcast 15: The Value of Simple Mar 17th
The latest episode of the Canadian Couch Potato podcast focuses on the relationship between cost and complexity in your investment plan.
You can often lower fees in your portfolio with a few simple changes that require no additional skill or effort. But there are times when accepting slightly hi.... More »
Wealthsimple Trade in-depth review 2021: The pros and cons Mar 6th
Since making its debut in 2014, Canada’s Wealthsimple has helped to demystify investing for hundreds of thousands of regular people who want to grow their money. The company’s success thus far is unquestionable: As of late February 2021, its AUM (assets under management) have been valued at $8.4.... More »
Before you start investing do these three things
– myownadvisor.ca
Learn, save, invest and prosper with My Own Advisor.
In the My Own Advisor inbox I continue to get emails from readers about starting their investing journey. I’m going to revisit a few things I strongly believe in that should help you out on that. Let me know your thoughts and whether you agree (or disagree) with these suggestions in a comment below.
Do this item #1 – net worth calculation
Figure out where you are. What I mean by this is, figure out your net worth. What are your assets? What are your liabilities? What is the difference between those two values? Knowing what you’re worth (or what your family assets are worth) can be important indicator of financial health. For most people, one of your long-term financial goals should be to increase your net worth over time – that is increase your assets, decrease your liabilities, or both at the same time.
Do this item #2 – cash flow calculation
This is another financial indicator. Are you running a surplus every month? Are you running a deficit every month? This is another basic financial principle…
In the My Own Advisor inbox I continue to get emails from readers about starting their investing journey. I’m going to revisit a few things I strongly believe in that should help you out on that. Let me know your thoughts and whether you agree (or disagree) with these suggestions in a comment below.
Do this item #1 – net worth calculation
Figure out where you are. What I mean by this is, figure out your net worth. What are your assets? What are your liabilities? What is the difference between those two values? Knowing what you’re worth (or what your family assets are worth) can be important indicator of financial health. For most people, one of your long-term financial goals should be to increase your net worth over time – that is increase your assets, decrease your liabilities, or both at the same time.
Do this item #2 – cash flow calculation
This is another financial indicator. Are you running a surplus every month? Are you running a deficit every month? This is another basic financial principle…
With increasing financial demands, Canadians are working later in life. That’s pushed the average retirement age up to 63.
Venezuela collapses and nobody cares
– macleans.ca
Security forces clash with people trying to reach Miraflores presidential palace to protest against the severe food and medicine shortages, in Caracas on June 2, 2016. (Juan Barreto/AFP/Getty Images)We like to think that progress is irreversible. We look at our roads and supermarkets and hospitals and while we know that everything could be better, we rarely worry it will all collapse. Unhappily, right now Venezuela is proving that all of this can suddenly disappear, and it’s frightening.
The country is falling apart, rapidly and completely. By many measures, it is one of the most blessed nations in the Americas. It has the largest proven oil reserves in the world, almost twice Canada’s. It has rich agricultural land, incredible biodiversity and huge amounts of mineral wealth. And yet its people are now starving; its infrastructure is in tatters; law and order have broken down. And strangely, Canada doesn’t appear to care.
In the late 1990s, after a string of corruption scandals, a disillusioned populace turned away from the two main traditional political parties and elected the populist demagogue Hugo Chávez…
