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Andrew Hallam’s story is the stuff of personal-finance legend. Through a combination of frugal living and prudent investing, he amassed a millionaire-dollar fortune by the age of 36, while working as a schoolteacher. In 2011, he published Millionaire Teacher: The Nine Rules of Wealth You Should Ha.... More »
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Ways to “unlock” retirement savings in a LIRA + MORE Dec 7th
Q. When I retired at age 63, the financial institution that managed my DPSP account paid the company-contributed portion (approximately $30,000) into a LIRA.
Given all the constraints related to drawing down a LIRA/LIF, I am now 65, living in BC, and have two questions:
Since I was already at re.... More »
Investors who crave safety can find little more growth
– moneysense.ca
Q. I am in the process of deciding how to invest about $400,000 that I received from the sale of my home. I have maxed out my TFSA in Exchange-Traded Funds VXC, VGRO and XIC, and have purchased $300,000 in laddered GICs with maturities over a span of one to three years but would be interested in the potential of a better return on investment than a three-year GIC. Any recommendations?
–Dave
A. Dave, I have a thousand questions about your question: How old are you? What is your family composition? Do you have a pension? What other assets do you have and how are they invested? What is your risk tolerance? When do you need access to that $300,000? And, of course, what is your favourite movie of all time?
Unfortunately, this isn’t the format for a two-way dialogue. So I’ll focus very specifically on the question of how to do better than the crummy returns offered by GICs. Perhaps consider another Exchange Traded Fund. I asked Terry Shaunessy to weigh in. He’s is the president and portfolio manager at Shaunessy Investment Counsel…
–Dave
A. Dave, I have a thousand questions about your question: How old are you? What is your family composition? Do you have a pension? What other assets do you have and how are they invested? What is your risk tolerance? When do you need access to that $300,000? And, of course, what is your favourite movie of all time?
Unfortunately, this isn’t the format for a two-way dialogue. So I’ll focus very specifically on the question of how to do better than the crummy returns offered by GICs. Perhaps consider another Exchange Traded Fund. I asked Terry Shaunessy to weigh in. He’s is the president and portfolio manager at Shaunessy Investment Counsel…
