The “Big Five” Canadian banks offer investment funds and include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Let’s explore the best place for you to invest.
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Heading to college or university? Follow these smart money habits Aug 13th
New-found freedom and an early taste of adulthood await many young adults starting post-secondary education this fall.
With freedom comes responsibilities: attending classes and studying while also maintaining a social life and making time for chores, meals and maybe even a part-time job—all .... More »
The case for buying a pre-construction home Feb 16th
My wife and I bid on, and lost, nine houses before we got our 10th. I remember the day in March 2016 when the listing popped up on Realtor.ca, the online directory of homes for sale, which had become one of the “frequently visited” websites on our computer. The house ticked off all the boxes, an.... More »
RECO registrar loses job in wake of iPro Realty scandal - Toronto Star Aug 22nd
RECO registrar loses job in wake of iPro Realty scandal Toronto StarOfficial from Ontario’s real estate regulator leaves post after collapse of iPro Realty The Globe and Mail2.4K Ontario real estate agents out of work after agency ordered to close: RECO Global News.... More »
Canadian seniors, watch out for these scams + MORE Jun 12th
You don’t have to be a senior to be aware that scams of all sorts abound in both the physical and—increasingly—the cyber world. Since Saturday, June 15 is World Elder Abuse Awareness Day, it’s an opportune time to address this problem.
Sadly, the rise of artificial intelligence (AI) .... More »
Fiat Chrysler takes earnings hit over potential costs from diesel probe Oct 30th
Fiat Chrysler Automobiles said Tuesday its third-quarter profits dropped nearly 40 per cent due to a one-off charge to cover possible payments in a U.S. diesel probe involving SUVs and light-duty pickups..... More »
Alamos Gold to acquire Richmont Mines in friendly offer worth US$770 million
– canadianbusiness.com
TORONTO _ Alamos Gold Inc. (TSX:AGI) has signed a friendly deal to acquire Richmont Mines Inc. (TSX:RIC) in an all-stock offer valued at about US$770 million.
Under the agreement, Richmont shareholders will receive 1.385 Alamos shares for each Richmont share they hold.
The offer implies a value of C$14.20 per Richmont share based on the closing price for Alamos shares on Sept. 8 when Richmont shares closed at C$11.62.
Once the deal is completed, Richmont shareholders will own approximately 23 per cent of the combined company.
Richmont produces gold from the Island Gold Mine in Ontario and the Beaufor Mine in Quebec.
Concurrent with the deal, Richmont will sell its Quebec assets including the Beaufor Mine, Camflo Mill, Wasamac development project as well as all other mineral claims, mining leases and mining concessions to Monarques Gold Corp. (TSXV:MQR).
Under that agreement, Richmont has agreed to subscribe for approximately C$2 million in subscription receipts from Monarques at a price of 35 cents per receipt which will be automatically exchanged for shares upon the closing of the transaction…
Under the agreement, Richmont shareholders will receive 1.385 Alamos shares for each Richmont share they hold.
The offer implies a value of C$14.20 per Richmont share based on the closing price for Alamos shares on Sept. 8 when Richmont shares closed at C$11.62.
Once the deal is completed, Richmont shareholders will own approximately 23 per cent of the combined company.
Richmont produces gold from the Island Gold Mine in Ontario and the Beaufor Mine in Quebec.
Concurrent with the deal, Richmont will sell its Quebec assets including the Beaufor Mine, Camflo Mill, Wasamac development project as well as all other mineral claims, mining leases and mining concessions to Monarques Gold Corp. (TSXV:MQR).
Under that agreement, Richmont has agreed to subscribe for approximately C$2 million in subscription receipts from Monarques at a price of 35 cents per receipt which will be automatically exchanged for shares upon the closing of the transaction…
Retired at 32. How he did it and the lessons learned – Part 1 of 2
– myownadvisor.ca
Save, invest, prosper with My Own Advisor.
Retired at 32. How he did it and the lessons learned – Part 1 of 2 For years I’ve considered investing a “get wealthy eventually” strategy. Sure, you can get lucky on a hot stock but it’s just that – luck. Successful investing typically goes far beyond luck. It includes making good financial decisions; getting…
We’re halfway there! Saving and investing our way to a million dollar portfolio. The article Retired at 32. How he did it and the lessons learned – Part 1 of 2 is exclusive to My Own Advisor. Make sure you check out My Own Advisor Dividends, Indexing and Deals pages to save hundreds or thousands of dollars every year. All Rights Reserved.
Retired at 32. How he did it and the lessons learned – Part 1 of 2 For years I’ve considered investing a “get wealthy eventually” strategy. Sure, you can get lucky on a hot stock but it’s just that – luck. Successful investing typically goes far beyond luck. It includes making good financial decisions; getting…
We’re halfway there! Saving and investing our way to a million dollar portfolio. The article Retired at 32. How he did it and the lessons learned – Part 1 of 2 is exclusive to My Own Advisor. Make sure you check out My Own Advisor Dividends, Indexing and Deals pages to save hundreds or thousands of dollars every year. All Rights Reserved.
Home Capital's Oaken Financial announces major cuts in GIC rates
– theglobeandmail.com
At the close of business on Friday rates will return to what Oaken calls 'normal levels'
Apple may test the bounds of iPhone love with a $1,000 model
– canadianbusiness.com
SAN FRANCISCO _ Apple is expected to sell its fanciest iPhone yet for $1,000, crossing into a new financial frontier that will test how much consumers are willing to pay for a device that’s become an indispensable part of modern life.
The unveiling of a dramatically redesigned iPhone will likely be the marquee moment Tuesday when Apple hosts its first product event at its new spaceship-like headquarters in Cupertino, California. True to its secretive ways, Apple won’t confirm that it will be introducing a new iPhone, though a financial forecast issued last month telegraphed something significant is in the pipeline.
In addition to several new features, a souped-up “anniversary” iPhone _ coming a decade after Apple’s late co-founder Steve Jobs unveiled the first version _ could also debut at an attention-getting $999 price tag, twice what the original iPhone cost. It would set a new price threshold for any smartphone intended to appeal to a mass market.
WHAT A THOUSAND BUCKS WILL BUY
Various leaks have indicated the new phone will feature a sharper display, a so-called OLED screen that will extend from edge to edge of the device, thus eliminating the exterior gap, or “bezel,” that currently surrounds most phone screens…
The unveiling of a dramatically redesigned iPhone will likely be the marquee moment Tuesday when Apple hosts its first product event at its new spaceship-like headquarters in Cupertino, California. True to its secretive ways, Apple won’t confirm that it will be introducing a new iPhone, though a financial forecast issued last month telegraphed something significant is in the pipeline.
In addition to several new features, a souped-up “anniversary” iPhone _ coming a decade after Apple’s late co-founder Steve Jobs unveiled the first version _ could also debut at an attention-getting $999 price tag, twice what the original iPhone cost. It would set a new price threshold for any smartphone intended to appeal to a mass market.
WHAT A THOUSAND BUCKS WILL BUY
Various leaks have indicated the new phone will feature a sharper display, a so-called OLED screen that will extend from edge to edge of the device, thus eliminating the exterior gap, or “bezel,” that currently surrounds most phone screens…
Should I convert my RRSP to a RRIF early?
– moneysense.ca
Q: I’m 67 and my husband turned 71 in May. He has to turn his RRSP into a RRIF. Can I turn my RRSP into a RIFF also? The only income we have is Old Age Security and CPP and it just isn’t enough to pay bills and food. The person from our bank said that I was too young to turn the RRSP into a RRIF. Is she right? Any information would be great.
—Mina
A: Registered Retirement Income Fund (RRIF) is exactly the same as a Registered Retirement Savings Plan (RRSP) with only two exceptions. Age 71 is the latest age that an RRSP can be converted to an RRIF. The earliest age is 55.
A RRIF has a mandatory minimum withdrawal requirement. This minimum is a % amount based on your age. (See table this table.)
A RRIF withdrawal is considered pensionable income after the year you turn age 65.
I see that Mina wishes to solve a perceived income problem by converting to a RRIF. It simply isn’t necessary as Mina can withdraw funds from her RRSP as-is. Mina can decide what amount she needs for a regular income over the coming months/years and withdraw that amount…
