The “Big Five” Canadian banks offer investment funds and include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Let’s explore the best place for you to invest.
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2017 winners and losers: Amazon, Boeing soared; GE plunged + MORE Dec 28th
NEW YORK _ It was a strong year for the stock market, but 2017 was a great year if you made airplanes (think Boeing), were an online juggernaut (Amazon) or built homes (KB Homes). It was a year to forget if you were an energy company (Chesapeake) made Barbie dolls (Mattel) or if you were a storied i.... More »
If it’s not an essential expense, it can — and probably should — wait Mar 30th
Living lean won’t be forever, but during these trying financial times, it’s simply prudent to protect your precious resources. Define what is essential first, then develop your budget..... More »
Your American spouse may not want to inherit your TFSA Jun 2nd
Most Canadians assume leaving a tax-free savings account (TFSA) to a spouse is one of the simplest estate-planning decisions they can make. But when that spouse is a U.S. citizen, green card holder, or otherwise subject to U.S. tax filing requirements, inheriting a TFSA can create years of IRS repor.... More »
The 'frightened dog' and the 'rocket man': Trump-Kim war of words causes rising tensions - CBC.ca Sep 24th
CBC.caThe 'frightened dog' and the 'rocket man': Trump-Kim war of words causes rising tensionsCBC.caAs luck would have it, the day U.S. President Donald Trump took the stage at the United Nations to threaten North Korea, North Korean diplomats were given seats right in front o.... More »
Buying pre-construction: What if your home is worth less than you paid? + MORE Jan 26th
Many Canadians bought pre-construction homes and condos at the height of the real estate market, as ultra-low interest rates fuelled a steady climb in Canadian real estate prices. Now some of those buyers are walking away from their purchases, unable to close on properties worth less than they paid .... More »
Emissions are released from a smokestack at the Teck Mining Company’s zinc and lead smelting and refining complex in Trail, B.C., on Monday November 26, 2012. (Darryl Dyck/CP)The lesson that Ontario Progressive Conservative Party leader Patrick Brown can take away from British Columbia’s carbon tax is simple, according to the Canadian Taxpayers Federation’s Christine Van Geyn. “Revenue neutrality,” she declares, “doesn’t happen.”
In her recent piece in the Financial Post, Van Geyn argues that a Fraser Institute study shows that the idea of a revenue-neutral carbon tax is impossible, and that Brown should abandon his plans to bring one to Ontario.
Problem is, the Fraser Institute study actually shows that a revenue-neutral carbon tax can work—that is, if governments are held accountable.
Both Van Geyn and the Fraser analysts agree that B.C.’s carbon tax was originally revenue-neutral, as advertised when it was brought in by Gordon Campbell in 2008…
Investment fees are eating your returns
– moneysense.ca
How are your investment fees affecting your returns? A new site called the WealthGame.ca has the answer, but you may not like what you learn.Larry Bates is the founder of WealthGame.ca, which aims to draw attention to the impact fees have on your portfolio. The 25-year financial services industry veteran was tired of watching people entrust their hard to earned money to the banks and fund companies only to see half of their gains lost to fees. That might sound like hyperbole, but when you run the numbers half might be an understatement.
Consider the following two scenarios.
Scenario 1
Let’s say you have a $100,000 portfolio earning 3% per year. Over 25 years that portfolio would more than double in value to $209,378, but that’s before fees. If the annual fee is 0.5% that portfolio will pay almost $24,000 in fees over that time. Because of the drag fees have on compounding, that gain realized by the investor is a little more than $85,000.
Scenario 2
Now let’s assume the same portfolio and performance, except this time the fee is 2%, which is in line with a typical mutual fund…
Pros and cons of financial advisors
– moneysense.ca
The post Pros and cons of financial advisors appeared first on MoneySense.
5 ways you can avoid the ‘big bank’ upsell
– moneysense.ca
When’s the last time the average Canadian could walk into their local bank branch and expect to have their financial needs objectively evaluated? Needless to say, it’s been a while. Recent shocking headlines have revealed that Canada’s five big banks have allegedly been pressuring their employees to upsell, deceive and even lie to customers to meet sales targets and keep their jobs. The reports have now spurred the Financial Consumer Agency of Canada to launch a formal review of the big five’s business practices.
If there’s truth to the reports, it seems we are left with financial institutions that are a lot like car dealerships, and bank employees who are a lot like car salespeople—you know, the ones who will allegedly tell you whatever you want in order to get their selling bonus, meet their monthly quota and most importantly, make the final sale. The lesson? Don’t rely on front-end bank personnel to tell you the truth. Question everything they recommend for you because they are first and foremost salespeople…
If there’s truth to the reports, it seems we are left with financial institutions that are a lot like car dealerships, and bank employees who are a lot like car salespeople—you know, the ones who will allegedly tell you whatever you want in order to get their selling bonus, meet their monthly quota and most importantly, make the final sale. The lesson? Don’t rely on front-end bank personnel to tell you the truth. Question everything they recommend for you because they are first and foremost salespeople…
Canada Goose stock goes public today on Toronto, New York stock exchanges
– canadianbusiness.com
Canada Goose CEO Dani Reiss. (Bernard Weil/Toronto Star/Getty)TORONTO — Canada Goose, whose winter jackets have been made famous by the likes of Daniel Craig and Kate Upton, is going public today on stock markets in Toronto and New York.
The Toronto-based company, ubiquitous for its $900 parkas with fur-lined hoods, is debuting with an initial public offering of 20 million shares.
.cbR{box-sizing:border-box;display:block;width:100%;margin:1em 0;border:1px solid #bbb;padding:.5em}@media (min-width:480px){.cbR{width:250px;margin:0 0 1em 1em;float:right}}Canada Goose CEO Dani Reiss on how to build an international brand
According to securities filings earlier this month, Canada Goose anticipates the shares will be priced between $14 to $16.
The outerwear manufacturer says that of the 20 million subordinate voting shares offered, 12.85 million shares will come from existing shareholders.
The existing shareholders will hold 79 to 81 per cent of the company after the sale, depending on whether underwriters exercise an over-allotment option…
