Am I on track to retire after being laid off? + MORE May 10th

CBC.caBC announces new rules to end 'shadow flipping'CBC.caB.C. Finance Minister Mike de Jong announced new rules Tuesday aimed at ending the controversial practice of 'shadow flipping' by eliminating a means for anyone but the seller of a house to profit from real estate contract assignment. The province also …BC tightens real estate rules to protect sellers from contract flippingCanadianBusiness.comB.C. unveils new housing market rules on shadow flipping and foreign data collectionMetroNews CanadaBC tightens rules for real estate agents24 Hours VancouverSurrey Now -Vancity Buzz -Voiceonline.com -Digital Journalall 19 news articles »

BURNABY, B.C. – BURNABY, British Columbia (AP) _ Xenon Pharmaceuticals Inc. (XENE) on Tuesday reported a loss of $3.3 million in its first quarter.
The Burnaby, British Columbia-based company said it had a loss of 23 cents per share.
The gene therapy biotech company posted revenue of $601,000 in the period.
Xenon Pharmaceuticals shares have declined 17 per cent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $6.67, a fall of 51 per cent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on XENE at http://www.zacks.com/ap/XENE
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Keywords: Xenon Pharmaceuticals, Earnings Report
The post Xenon Pharmaceuticals posts first-quarter loss of $3.3 million appeared first on Canadian Business – Your Source For Business News.

(Photograph by Jessica Balfour)
The current situation
Coleen Cudmore is single and lives in Kelowna, B.C., where, until recently, she was a manager at an insurance company. When her branch was closed in January, she received a severance package. Now, she plans to retire in December, when she turns 55, but she isn’t sure if she has enough to allow her to live on $60,000 a year. Currently, she owns a home worth $680,000 but owes $144,000 on a line of credit. She also has RRSPs and other assets worth $832,000. These investments have given her a 10% annualized return over the last few years. “I do a lot of my own investing and have a passion for it,” she says, adding that she’s been able to supplement her gross income by $500 a month using dividends from her portfolio. “It’s enough to pay the groceries,” says Cudmore, who’s using her time out of the workforce to get into a new fitness regimen. She plans to claim her CPP at age 60 and collect OAS at 65, as well as $5,400 annually from a small company pension…

(mogo.ca)
You may already be acquainted with some of the financial tech startups that are challenging the world of Canadian personal finance, like Wealthsimple or Mint. Now there’s a new kid on the block named Mogo that has opened up its first brick-and-mortar store in Toronto. But don’t be fooled by this new storefront: It’s not a real bank, but rather a loan lender marketed towards millennials, offering fast and easy loans on its website. So should you trust this well-dressed outsider? “It’s a cool concept and in line with the robo-advisors that have started to disrupt traditional money managers,” says MoneySense Approved Financial Advisor Jason Health. Here’s four things you should know before using their services.
1. You can get your credit score for free with Mogo
A credit score by a credit rating agency would usually cost you around $24, but comes free with Mogo when you sign up for an account. And you’re under no obligation to take out a loan; rather, that credit score will largely determine what amount you can qualify for and what type of interest rate you will be charged…

Q: What is the difference between “joint tenancy” and “joint ownership”?
Some years ago my husband and I chose to put all of our possessions, including all our investments, into “joint tenancy.” I recently read that this is different from “joint ownership.” At present, our bank and investment accounts seem to under “joint ownership,” but when we looked at the original letter from our lawyer, he uses the term “joint tenancy.” Should this be changed?
 —Janine M.
A: Most property can be owned either personally or jointly. Whether or not you should own property jointly with a spouse or other person depends on your intention.
Jointly held property can also be held in two different ways: as joint tenants or as tenants in common. Joint tenancy invokes the right of survivorship, so that on the death of one of the owners, the ownership of an asset passes in equal shares to the surviving owners. Tenants in common, on the other hand, have their share of an asset become part of their estate, with the asset distributed on their death based on their will…