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Credit card mistakes millennials are making Dec 21st
It seems that cost-conscious millennials are so down on being in debt that many are avoiding credit cards altogether. But in doing so they’re missing out on the opportunity to start building a credit history, which is crucial for securing loans, renting apartments and getting the best insurance ra.... More »
Don’t get caught retired and broke + MORE Jul 5th
In my research I have found one age group that is at much greater financial risk than others. It’s the age 55 to 64 group—both male and female. The risks for this group are almost always health related. Most Canadians greatly underestimate health risks. Individuals in this age group who have had.... More »
The Complete Package: How Much are Benefits and Bonuses Really Worth? Jun 4th
If you’ve ever had to debate the pro’s and con’s of a new job offer, or renegotiate a contract, you know it’s not always easy to evaluate the worth of a potential compensation package. Benefits and bonuses add a lot of complexity to the process; it doesn’t always come down to salary dolla.... More »
What is landlord insurance? + MORE Sep 24th
Landlord insurance, true to its name, is a type of policy for people who rent out a room, an apartment or a house to tenants. Also known as rental property insurance, it has some key differences from home insurance—the biggest one being coverage for loss of rental income, in the event that your pr.... More »
MORTGAGE 101: Understanding Different Mortgage Options + MORE Mar 28th
To new buyers, the real estate market can appear intimidating with jargon like amortization, mortgage insurance, fixed vs variable and so on.
Here are some of the key terms and mortgage types you’ll encounter when shopping for your home loan.
What is a Mortgage?
A mortgage is a loan offered by fi.... More »
The difference between fee-only and fee-based financial planners
– moneysense.ca
While MoneySense is intended to help empower individual investors, it’s a rare person that needs absolutely no financial help or advice. This blog continually makes the point that while self-directed investors can lower costs by buying index funds or ETFs at discount brokerages, that doesn’t mean they have to forgo financial planning help, advice or guidance.
Over the last decade or so, there has been a gradual shift from commission-based financial advice to fee-based advice. That is, instead of paying a traditional stockbroker commissions to buy a stock (or ETF these days) and then pay again to sell them, the industry is moving to a fee-based model that imposes an annual fee based on percentage of client assets: typically ranging between 1% and 2%. That is, on a $100,000 portfolio, you might expect to pay between $1,000 and $2,000 a year in fees, often via traditional mutual funds, wrap accounts or investment counsel. Not a bad deal at that level of wealth, if you’re getting good advice on asset allocation, security selection, financial planning, insurance and estate planning and the whole gamut of financial advice…
Over the last decade or so, there has been a gradual shift from commission-based financial advice to fee-based advice. That is, instead of paying a traditional stockbroker commissions to buy a stock (or ETF these days) and then pay again to sell them, the industry is moving to a fee-based model that imposes an annual fee based on percentage of client assets: typically ranging between 1% and 2%. That is, on a $100,000 portfolio, you might expect to pay between $1,000 and $2,000 a year in fees, often via traditional mutual funds, wrap accounts or investment counsel. Not a bad deal at that level of wealth, if you’re getting good advice on asset allocation, security selection, financial planning, insurance and estate planning and the whole gamut of financial advice…
