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The year in stocks. 2017: Bitcoin, dope and Trump Dec 30th
Wall Street had a great year in 2017. The Canadian market managed only a small gain. (Cultura Travel/WALTER ZERLA)
OK, let’s say goodbye to the market in 2017.
Your editors at MoneySense are almost always going to steer investors into a reliable but boring Couch Potato portfolio of a few low-fee .... More »
Making sense of the markets this week: August 21 Aug 19th
Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, shares financial headlines and offers context for Canadian investors.
U.S. retailers: People are spending differently, but they’re still spending
Readers of “Making sense of the markets” might re.... More »
$4.6-billion power station to supply data centre near Edmonton gets green light - Financial Post Jul 2nd
$4.6-billion power station to supply data centre near Edmonton gets green light Financial PostCounty north of Edmonton approved to host energy generator for potential AI data centre CTV NewsPembina, partners go ahead with gas plant for data centre north of Edmonton C.... More »
Q & A: Your questions on managing your money in 2018 Jan 13th
The new year presents an opportunity for fresh financial start. CBC's Jacqueline Hansen hosted a recent Facebook Live with financial planner and author Shannon Lee Simmons about budgets, debt and enjoying your money..... More »
Is the 4% Rule obsolete? Jul 31st
Over the half decade I’ve written this column and attempted to practice what it preaches, a central pillar has been the so-called 4% Rule. As originally postulated by Certified Financial Planner and author William Bengen, that’s the rule of thumb that retirees can safely withdraw 4% of the value.... More »
Financial watchdog warns 50,000 people could lose jobs due to minimum wage hike
– canadianbusiness.com
TORONTO _ More than 50,000 people could lose their jobs if the Ontario government goes ahead with its plan to raise the minimum wage to $15 an hour by 2019, the province’s financial watchdog said Tuesday in a report that assessed the economic impact of the proposed increase.
The job losses would be concentrated among teens and young adults, while the number of minimum wage workers in Ontario would increase from just over 500,000 to 1.6 million in 2019, the Financial Accountability Office said in its report. FAO chief economist David West said the province is entering “uncharted waters” with the increase because no other jurisdiction has gone so far so quickly.
While the move will have a positive impact on the province’s total labour market income _ hiking it by 1.3 per cent _ it will also result in job losses over a number of years.
“There’s evidence to suggest these job losses could be larger given the magnitude and rapid pace of this increase,” West said…
The job losses would be concentrated among teens and young adults, while the number of minimum wage workers in Ontario would increase from just over 500,000 to 1.6 million in 2019, the Financial Accountability Office said in its report. FAO chief economist David West said the province is entering “uncharted waters” with the increase because no other jurisdiction has gone so far so quickly.
While the move will have a positive impact on the province’s total labour market income _ hiking it by 1.3 per cent _ it will also result in job losses over a number of years.
“There’s evidence to suggest these job losses could be larger given the magnitude and rapid pace of this increase,” West said…
Shareholders of Home Capital Group Inc. voted against taking a second life line from Warren Buffett’s Berkshire Hathaway, which keeps the billionaire’s stake in the alternative mortgage lender at just under 20 per cent.
Risky robos
– moneysense.ca
Q: My husband needs to set up a RRIF within the next three months.
We currently have his RRSP in mutual funds with a bank with poor returns and fees of 2%+. We also have DB pensions and he is still working a few days a week for a while yet.
We are tempted to use a robo-advisor but wonder whether that is a safe strategy. His RRSP fund is about $210,000. Never used the robo idea before…. very tempting….but is it wise?
—Gladys
A: Robo-advisors have been aggressively targeting younger investors. I’m just a simple financial planner, so don’t know much about marketing, but I’m not sure why the focus has been so, well, focused. I feel like that marketing approach could scare off potential investors like you and your husband, Gladys. It shouldn’t – at least not necessarily.
Your husband must be 71, or at least turning 71 before the end of the year, seeing as how he must convert his RRSP to a Registered Retirement Income Fund (RRIF) before year-end. As you likely know, he needs to do something with his RRSP before year-end and the two primary choices are a RRIF or an annuity…
TORONTO — More than 50,000 people could lose their jobs if the Ontario government goes ahead with its plan to raise the minimum wage to $15 an hour by 2019, the province’s financial watchdog said Tuesday.
The job losses would be concentrated among teens and young adults, while the number of minimum wage workers in Ontario would increase from just over 500,000 to 1.6 million in 2019, said a report released by the province’s Financial Accountability Office.
FAO chief economist David West said Ontario is entering “uncharted waters” with the increase because no other jurisdiction has gone so far so quickly.
While the increase will have a positive impact on the province’s total labour market income —hiking it by 1.3 per cent — it will also result in the job losses over a number of years.
“There’s evidence to suggest these job losses could be larger given the magnitude and rapid pace of this increase,” West said.
In July, Premier Kathleen Wynne announced her government would increase the minimum wage to $15 an hour by Jan…
The job losses would be concentrated among teens and young adults, while the number of minimum wage workers in Ontario would increase from just over 500,000 to 1.6 million in 2019, said a report released by the province’s Financial Accountability Office.
FAO chief economist David West said Ontario is entering “uncharted waters” with the increase because no other jurisdiction has gone so far so quickly.
While the increase will have a positive impact on the province’s total labour market income —hiking it by 1.3 per cent — it will also result in the job losses over a number of years.
“There’s evidence to suggest these job losses could be larger given the magnitude and rapid pace of this increase,” West said.
In July, Premier Kathleen Wynne announced her government would increase the minimum wage to $15 an hour by Jan…
News and entertainment website Canoe.ca says data for one million users hacked
– canadianbusiness.com
MONTREAL _ News and entertainment website Canoe.ca says some of its databases containing the personal information of about one million users from 1996 to 2008 has been hacked.
The company says the databases breached contained records including names, email addresses, mailing addresses and telephone numbers.
The information was provided by users for contests, forums, comments pages or the hosting of personal pages. Information collected after 2008 was not compromised.
Canoe.ca, which learned of the incident on Sept. 2, says there was no evidence that the compromised data contained financial information, such as credit card numbers or social insurance numbers.
The company says it has informed the RCMP, the Office of the Privacy Commissioner and the provincial privacy commissioners of the breach.
It said anyone worried about the data breach should call 1-833-370-2898.
Canoe.ca is operated by MediaQMI Inc. (TSX:TVA.B) and was owned by Sun Media Corp. before 2015.
The post News and entertainment website Canoe…
The company says the databases breached contained records including names, email addresses, mailing addresses and telephone numbers.
The information was provided by users for contests, forums, comments pages or the hosting of personal pages. Information collected after 2008 was not compromised.
Canoe.ca, which learned of the incident on Sept. 2, says there was no evidence that the compromised data contained financial information, such as credit card numbers or social insurance numbers.
The company says it has informed the RCMP, the Office of the Privacy Commissioner and the provincial privacy commissioners of the breach.
It said anyone worried about the data breach should call 1-833-370-2898.
Canoe.ca is operated by MediaQMI Inc. (TSX:TVA.B) and was owned by Sun Media Corp. before 2015.
The post News and entertainment website Canoe…
