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Janet Gray advice-only Financial Planner
– moneysense.ca
Meet Janet Gray
Janet Gray is an advice-only Certified Financial Planner, speaker and educator with over 20 years of experience. She’s been featured in countless Canadian news publications as a financial expert, and she even won “Financial Services Person of the Year” twice. Janet specializes in business and retirement, and has additional certifications to prove it—she’s a Certified Professional Consultant on Aging (CPCA), an Elder Planning Counsellor (EPC) and is a member of the Orleans Chamber of Commerce (Ottawa Board of Trade) since 2001. Read more about Janet and her unique approach to financial planning below.
Services• Business cash flow planning• Financial planning• Pre-retirement planning• Retirement & pension planningSpecializations• Business owners/ self-employed• Professionals• Pensioned employees• RetireesPayment Model• Fees paid by clients for advice (not based on assets)Languages written and spoken• English
Meet Janet Gray
Why she became a Financial Planner
In many ways I have given advice all my life…
Are your deposits at Canadian financial institutions safe?
– moneysense.ca
We live in Ontario, and in light of the current banking problems in the U.S., we are a bit concerned about our investments.
They are held at three different banks at the moment and are largely in GICs and high-interest savings accounts.
We are aware that up to $100,000 is insured through the CDIC (Canada Deposit Insurance Corporation) at each bank, but at the one bank where we have our TFSAs, we are over that amount.
What would you suggest we should do?
—Mrs. B
The risks of exceeding deposit limits at Canadian banks
Silicon Valley Bank (SVB) failed in March and was taken over by the U.S. Federal Deposit Insurance Corporation. SVB’s customers were primarily venture-backed tech startups, but the bank was hardly a small player. It was the 16th-largest bank at the time it failed, and its failure was the second largest in U.S. history.
The two primary issues with SVB were questionable risk management and high uninsured deposits. The bank did not manage its interest rate risk well, having a lot of short-term deposits invested in long-term bonds…
How to use this compound interest calculator
Input the following information into the compound interest calculator:
Initial investment: This is how much you are paying for the investment or putting into the savings account. If you are calculating a loan or debt, this is the amount of money you are borrowing.Additional contributions: Here, add how much more money you will be putting toward the investment or savings. For loans or debts, this counts as additional money you will be borrowing on top of the initial amount.Interest rate: Input the amount of interest you will be earning or charged, expressed as a percentage. Compound frequency: Select how often the interest will be compounded—this is “interest on interest” earned or owed. Your options include: weekly, monthly, quarterly and annually. For example, the interest on some lines of credit is compounded monthly, and many investments have annual compounded interest.Total value of investment: This amount will appear when you input the above into the calculator…
