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Resolutions for dividend investors like me + MORE Feb 1st
Learn, save, invest and prosper with My Own Advisor.
I recently read some articles over the last few weeks about resolutions for investors this year. With oil prices tanking and our Canadian dollar dropping like a stone, I thought I’d offer my own take, when it comes to my approach to dividend inv.... More »
This 34-year-old hospital worker has three kids and a mortgage to pay off. Making $104,000 a year, he wants to save $50K each for his kids. How can he start? + MORE Dec 21st
Mel would also like to save enough for retirement, at least $1 million each for him and his wife, and also purchase a second real estate property to rent out..... More »
Business Highlights + MORE Dec 31st
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How to spend $5 trillion: A record-breaking year in deals
NEW YORK (AP) — Companies around the world spent a record $5.04 trillion on acquisitions in 2015, according to Dealogic, as slow worldwide economic growth and low interest rates pushed companies to combine forces.
Dealogic, a financial .... More »
Timing CPP and OAS with workplace pensions + MORE Mar 28th
Q: My husband is retired military and will turn 60 this year. He’s been told by his military buddies that he should apply soon for his CPP as then he can receive it and the bridge for the next five years. I thought he should be delaying on taking his CPP but perhaps it’s the OAS he should dela.... More »
Banks poised to report strong Q2 despite housing slowdown: analysts + MORE May 22nd
Canada's biggest banks are upping the ante in the mortgage wars amid slowing growth and national housing sales at lows not seen in several years, but analysts say real estate market woes won't dent lenders' earnings, just yet..... More »
New Ontario rules meant to crack down on unscrupulous debt collection practices
– canadianbusiness.com
OTTAWA – New rules in Ontario to better protect consumers from unscrupulous debt settlement companies come into force this week, but bankruptcy trustees says those in financial trouble seeking help still need to be cautious.
Trustee Doug Hoyes says unscrupulous companies that were taking advantages of borrowers in trouble have already closed up shop in anticipation of the new rules taking effect.
However, he says the new regulations set up a possible conflict of interest for collection agencies that will also be able to offer debt settlement services.
“It certainly opens the door for a different form of collection activity,” said Hoyes, co-founder of bankruptcy trustee firm Hoyes, Michalos & Associates Inc.
“You’re getting a phone call to collect your cellphone bill, and now you feel a lot of pressure because all of a sudden this guy on the phone also says you can deal with your other debts as well. What are you going to do?”
Ontario announced in 2013 that it would join provinces like Alberta, Manitoba and Nova Scotia in making changes to the rules amid increasing complaints about debt settlement companies including unclear or misleading contracts, high fees and a failure to reduce debts as promised…
Trustee Doug Hoyes says unscrupulous companies that were taking advantages of borrowers in trouble have already closed up shop in anticipation of the new rules taking effect.
However, he says the new regulations set up a possible conflict of interest for collection agencies that will also be able to offer debt settlement services.
“It certainly opens the door for a different form of collection activity,” said Hoyes, co-founder of bankruptcy trustee firm Hoyes, Michalos & Associates Inc.
“You’re getting a phone call to collect your cellphone bill, and now you feel a lot of pressure because all of a sudden this guy on the phone also says you can deal with your other debts as well. What are you going to do?”
Ontario announced in 2013 that it would join provinces like Alberta, Manitoba and Nova Scotia in making changes to the rules amid increasing complaints about debt settlement companies including unclear or misleading contracts, high fees and a failure to reduce debts as promised…
International central bank forum urges ‘firm hand’ in raising interest rates to normal levels
– canadianbusiness.com
FRANKFURT – Near-zero interest rates could become chronic in the world’s major economies unless “a firm hand” is used to raise them back to more normal levels.
That is the message in the annual report issued Sunday from the Bank for International Settlements based in Basel, Switzerland. The BIS, which functions as a forum for global central banks, argues that low rates aimed at stimulating economic growth in the short term may actually do the opposite over longer periods.
It said cheap money encourages more debt and creates financial booms and busts that leave lasting scars on the economy — with the result that central banks apply more cheap money to try to lift the economy.
“Rather than just reflecting the current weakness, low rates may in part have contributed to it by fueling costly financial booms and busts,” the BIS report said.
“The result is too much debt, too little growth and excessively low interest rates. In short, low rates beget lower rates…
That is the message in the annual report issued Sunday from the Bank for International Settlements based in Basel, Switzerland. The BIS, which functions as a forum for global central banks, argues that low rates aimed at stimulating economic growth in the short term may actually do the opposite over longer periods.
It said cheap money encourages more debt and creates financial booms and busts that leave lasting scars on the economy — with the result that central banks apply more cheap money to try to lift the economy.
“Rather than just reflecting the current weakness, low rates may in part have contributed to it by fueling costly financial booms and busts,” the BIS report said.
“The result is too much debt, too little growth and excessively low interest rates. In short, low rates beget lower rates…
