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GST holiday break: Is it good for Canada’s economy? + MORE Nov 22nd
The federal government’s “meaty” move to pause federal sales tax on a long list of items and send cheques to millions of Canadians this spring could factor into an improving outlook for growth in 2025, economists say. The plan, which will cost about $6.3 billion, could put some upward pressur.... More »
How to make sure you have enough money to fund your RRIF withdrawals + MORE Apr 16th
After decades of using registered retirement savings plans (RRSPs) to reduce taxable income, it can come as a shock to discover the shoe will one day be on the other foot. At the end of the year you turn 71, you have to either cash out your RRSP (not recommended), annuitize it or convert it into a R.... More »
How to fund accessible home renovations in Canada + MORE Jul 5th
My house, as I told my insurance broker recently, is the Canadian housing equivalent of ancient. Built in the 1910s in Saskatoon, this house has many foibles. To hang pictures, I have to use wood screws lest regular nails bounce off of the layers and layers of paint. My basement is a little more tha.... More »
Will GIC rates keep going up in 2024? + MORE Dec 22nd
As Canadians are painfully aware, Canada’s inflation has stubbornly persisted above the Bank of Canada’s (BoC) target rate of 2%. In response, the BoC has repeatedly raised the benchmark interest rate—which sets the pace for banks’ prime rates—since early 2022. While no one can predict wit.... More »
Colleges and universities face job cuts, deficits amid international student cap - CP24 Nov 23rd
Colleges and universities face job cuts, deficits amid international student cap CP24Ontario colleges face biggest financial hit from Ottawa’s international student clampdown The Globe and MailColleges and universities ring financial alarm over foreign student caps .... More »
3 Types of Cognitive Biases that Can Lead to Huge Investment Mistakes
– investitwisely.com
When it comes to investing, we’re all aware that what we don’t know can hurt us. That’s why we spend time doing research on stocks, ETFs, companies that are poised for strong long-term future growth such as those in the biotech field, green tech, unified communications solutions — and the list goes on.But sometimes, it’s what we think we know — but isn’t actually the case — that can hurt us even more. With this in mind, here are three types of cognitive biases that can, and often do, lead to huge investment mistakes and possibly a lifetime of regret:
Confirmation Bias
Confirmation bias refers to the tendency to filter out information that doesn’t align with a preconceived notion. For investors, this often manifests as overconfidence in their positions despite clear and convincing evidence to the contrary; that is until they invariably must face the harsh reality outside of their heads.
Loss Aversion
Loss aversion refers to the tendency to disproportionately prefer avoiding a loss vs…
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