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How to choose a financial advisor in Canada Mar 8th
Do you know what to look for when choosing a financial advisor? This person will be giving you advice on important things like insurance, money management and investing, so it’s worth taking the time to screen candidates carefully before you hire a financial advisor.
The terms “financial advi.... More »
Uber offers free rides to polls for new customers - CBC.ca + MORE Oct 18th
CBC.caUber offers free rides to polls for new customersCBC.caUber is offering new customers free rides to the polling station on Monday, despite warnings from City officials to avoid the service until insurance and regulatory issues are worked out. First-time Uber users can sign up for a free ride t.... More »
Pet insurance can take the bite out of health costs May 10th
Pet owners are divided on whether the premiums are worth it..... More »
Fire insurance claims: When to tell your home insurance provider + MORE Sep 12th
“You don’t have to file a home insurance claim if you have a house fire,” is not something you would expect to hear from insurance experts. But in the wake of the increasing fire-related fatality numbers from the Ontario Fire Marshal, we couldn’t help but ask.
First, the numbers. Between Jan.... More »
Settlement for Lac-Mégantic victims clears another hurdle + MORE Jul 18th
MONTREAL – A U.S. bankruptcy judge has approved plans for creditors in the Lac-Megantic train disaster to begin voting on terms of a $439-million settlement fund.
The fund was approved by a Canadian judge last Monday but also needs approval by a U.S. court for settlement cheques to be distribu.... More »
Condo overbuilding in Canada
– moneysense.ca
(Getty Images / Michael Blann)I’m not at all surprised that our government-backed housing agency—the Canada Mortgage and Housing Corporation—is warning condo builders to sell more of their current inventory before building more condos.
But I don’t think it’s a signal we’re overbuilding. I think it’s a signal that the government doesn’t want another close call.
From the late 1990s to 2008, the government loosened housing and mortgage policies. For instance, the government lowered down payment requirements so that home buyers could avoid default insurance (otherwise known as mortgage insurance); the government also introduced 35-year and 40-year amortizations and introduced government backed 100% financing—even for rental properties; and income documentation to obtain a mortgage was far more lenient than it is today. Then the U.S. housing market took a dive and the 2009 world wide credit crunch made everyone take a step back—including our government.
As such, policies were introduced to tighten up the lax regulations that were previously introduced by the government…
What is an Annuity?
– ratesupermarket.ca
The shift by employers from traditional defined-benefit pension plans, which typically guarantee income for life, to ‘over-to-you’ defined-contribution arrangements, has put more responsibility on employees for making their savings last through an unknown number of retirement years.
Lacking the knowledge or ability to choose from the investment strategies available to them, many such retirees would be better off converting a significant portion of their retirement savings into an annuity, according to a recent report entitled Retirement Income: Ensuring Income throughout Retirement Requires Difficult Choices.
Life Insurance In Reverse
Annuities are often described as life insurance in reverse. You buy an annuity policy with a lump-sum payment and in return the life insurance company pays you a guaranteed amount for a certain period of time, or for the rest of your life, depending on the option you choose.
The amount you get depends primarily on your age and the current level of interest rates…
Terrorizing Taxpayers
– online.wsj.com
Both parties want to backstop insurance for big developers.
