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Latest News
What is pet insurance—and do you need it? + MORE Sep 25th
Did you know that 60% of Canadians have a pet, but only around 4% of these furry friends are covered by pet insurance? If you’ve put off purchasing pet insurance because you’re unsure what it is or whether you even need it, we’re here to help.
As pet insurance becomes more common and availa.... More »
How the heck is Lorelai from Gilmore Girls not broke? Nov 27th
At Luke’s Diner for the morning coffee she’ll have a sip of before dashing off.
Ah, Gilmore Girls. A show about love, life, relationships and…money? The hit series is full of fast-talking banter, plenty of coffee and some interesting financial issues that to a 20-something pers.... More »
Saskatchewan deficit down to $595M, aiming to balance by 2020: fiscal update + MORE Mar 3rd
REGINA _ The Saskatchewan government’s latest fiscal update shows a dip in the provincial deficit forecast and a slight slip in provincial revenue and expenses.
The third-quarter report projects the 2017-2018 deficit will be $595 million _ down $101 million from the red ink outlined in the las.... More »
10 travel insurance myths to stop believing now + MORE Feb 23rd
Travel insurance can be tough to understand, and if you’re not reading the fine print, you could be relying on inaccurate myths to inform your coverage decisions. Luckily, InsurEye, a Canadian insurance education site has compiled a massive list of 111 insurance myths that are out there. We’.... More »
What to know about insurance claims after a flash flood Jul 19th
Canadian home owners are increasingly adding flood coverage to their insurance policies as extreme weather events become more common, according to the Insurance Bureau of Canada.
And after Tuesday’s intense bout of flash flooding in southern Ontario, some residents may be finding out the hard w.... More »
Will an insured retirement plan save you on taxes?
– moneysense.ca
Q: At 60, I’m in the home stretch for retirement. I’m considering an insured retirement plan as a way to add another tax-preferred source of income. What should I look out for? —Scott Windsor, Toronto
A: I love a good “cost-benefit” question. But you should know that I give a lot of weight to simplicity, so a strategy that uses insurance for something other than risk management rarely scores well in my books. The big question: Are the tax savings worth the fees and the cost of the insurance? Jason Heath, a Toronto fee-for-service financial planner at Objective Financial Partners says, “insurance isn’t always a clear winner, and because you’re giving your money to an insurance company to invest you’re giving up flexibility.” Plus, if you don’t actually need the coverage having it “attached to an investment may be a waste,” he says. Instead, consider other tax efficient strategies such as buying swap-based or corporate-class ETFs, or growth stocks that don’t pay dividends so your return is all deferred capital gains…
A: I love a good “cost-benefit” question. But you should know that I give a lot of weight to simplicity, so a strategy that uses insurance for something other than risk management rarely scores well in my books. The big question: Are the tax savings worth the fees and the cost of the insurance? Jason Heath, a Toronto fee-for-service financial planner at Objective Financial Partners says, “insurance isn’t always a clear winner, and because you’re giving your money to an insurance company to invest you’re giving up flexibility.” Plus, if you don’t actually need the coverage having it “attached to an investment may be a waste,” he says. Instead, consider other tax efficient strategies such as buying swap-based or corporate-class ETFs, or growth stocks that don’t pay dividends so your return is all deferred capital gains…
