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Latest News
RECO registrar loses job in wake of iPro Realty scandal - Toronto Star Aug 22nd
RECO registrar loses job in wake of iPro Realty scandal Toronto StarOfficial from Ontario’s real estate regulator leaves post after collapse of iPro Realty The Globe and Mail2.4K Ontario real estate agents out of work after agency ordered to close: RECO Global News.... More »
HSBC to China investors: ‘See through’ the tech crackdown and focus on fundamentals - CNBC Jul 8th
HSBC to China investors: ‘See through’ the tech crackdown and focus on fundamentals CNBCDidi extends slump as China weighs changes to US IPO rules BNNDidi Extends Drop to Fresh Lows as China Weighs Rule Changes Yahoo Canada FinanceOwning Chinese Companies Is Comp.... More »
Why GICs are a good addition to an RRSP or a TFSA + MORE Aug 9th
It’s tax time again, which means Canadians may be thinking about tax-smart ways to invest to reduce their tax burden next year. Adding guaranteed investment certificates (GICs) to your investment portfolio may help bring safe and solid returns.
How GICs work
When you purchase a GIC, you agre.... More »
Barrick Gold buys Africa's Randgold to become world's biggest gold miner Sep 24th
Toronto based Barrick Gold has agreed to buy Randgold Resources for $6.1 billion in stock to create the world's largest gold miner..... More »
As Xi Jinping consolidates power in CPC, China's parliament prepares to ward off financial risks - Firstpost + MORE Mar 2nd
FirstpostAs Xi Jinping consolidates power in CPC, China's parliament prepares to ward off financial risksFirstpostBeijing: China's annual parliament gathering kicks off on Monday as an ever-stronger President Xi Jinping presses ahead with efforts to ward off financial risks without undermi.... More »
10 ways to save more and pay down your debt
– moneysense.ca
1. Set a goal
If you’re serious about saving you need to set a goal so you know what you’re saving for. Whether it’s a trip to Japan you hope to take in a few months or saving for retirement, having a very specific goal will help you stay motivated and on track.
2. Track your dollars
The best way to get on track to saving is to spend less than you earn. Tracking your spending—either through a daily journal or an app—can help you do this.
3. Trim spending
Consider trimming expenses. Once you know how much you’re spending monthly, you can decide what areas you’d like to cut back on so you can meet your savings goal.
4. Kill two birds with one stone
For those with low to moderate incomes, paying off debt—including the mortgage—is the best tax-planning you can do. That’s because you don’t pay taxes on the capital gains on your home and there’s no tax on the return you get for getting out of debt.
5. Automate it!
Set up an automatic transfer of funds to a savings to a savings account (or TFSA or RRSP) so that a set amount—say 10% of your gross monthly income that comes off your paycheque automatically…
Wedding guests need to watch their spending too
– thestar.com
Your kids don’t have to take a financial hit to watch their friends get married. Here’s how to cut costs.Foreign, institutional investors holding fire
– theglobeandmail.com
While the flow of money into North American commercial real estate has slowed, investors are sitting on cash hoards that eventually will be deployed
Hudson’s Bay Co. says shareholders representing almost two-thirds of its outstanding common shares have confirmed their support for the company’s deal with Rhone Capital.
The best time to start CPP —if you don’t know when you will die
– moneysense.ca
The last time we looked at the question of when to commence receipt of the Canada Pension Plan (CPP), we made the case for delaying as long as possible – ideally until 70 – while drawing down RRSP assets in your 60s when you’re in a lower tax bracket. (The piece is here.)
That’s a valid strategy for many but it does make a few assumptions, including that you have a large enough RRSP to withdraw from, have good alternative sources of income in the meantime, and that you’re not confident that the markets will deliver good returns if you were in a position to invest your CPP were it taken earlier.
But the biggest assumption is that you’ll live to enjoy those higher payouts once they commence. If your life expectancy is for some reason lower than average, all bets are off and you may be better off taking CPP between 60 and 65.
Jason Heath, of Toronto-based fee-only planners Objective Financial Partners, leans to advising clients to defer CPP/OAS to 70 for those whose life expectancy is average or longer than average…
