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Latest News
What are call options? Why should retirees care about them? + MORE Feb 10th
Amid the tumult of sharply rising interest rates, stubbornly high inflation and geopolitical risks, stocks have continued to slide. The market rout that began in early 2022 has hit retirees and those saving for retirement particularly hard.
Even bonds, usually thought of as a safe haven for .... More »
Why retirement planners are getting defensive + MORE Sep 30th
While working people may envy those at or near retirement, once you get there there’s a certain amount of anxiety over markets and the prospect of outliving your money should stocks and interest rates fail to cooperate.
Of course, those with guaranteed-for-life, taxpayer-backed, defined benefit.... More »
TFSA vs RRSP: How to decide between the two + MORE Mar 29th
One of the most common questions out there is whether to invest in a registered retirement savings plan (RRSP) or a tax-free savings account (TFSA). Both will help you save, and save on taxes, but each works in a different way. Understanding how these accounts work will help you decide which is best.... More »
The best GIC rates in Canada for 2025 + MORE Nov 10th
GIC comparison tool
Find the best and most up-to-date GIC rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated rate of return based on the size of your balance.
Why trust us
MoneySense is an award-winning magazine, helping Canadians navigate m.... More »
Making sense of the markets this week: May 28, 2023 + MORE May 26th
Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, shares financial headlines and offers context for Canadian investors.
Hitting our head on the U.S. debt ceiling
By far, the dominant force influencing markets this week was the completely illogical far.... More »
Lawyers for Ghislaine Maxwell propose $28.5M bail package, including armed guards – Global News
– news.google.ca
Lawyers for Ghislaine Maxwell propose $28.5M bail package, including armed guards Global NewsGhislaine Maxwell proposes $28.5M bail package, secured by all of her and her husband’s assets National PostGhislaine Maxwell proposes $28.5M bail package Toronto SunGhislaine Maxwell and her husband offer $28.5million bail package with armed guards Daily MailGhislaine Maxwell’s husband calls her ‘wonderful & loving’ as he makes $28.5M bail bid including 24/7 armed gu The SunView Full coverage on Google News
Breaking Down the 50/30/20 Budget
– investitwisely.com
No two budgets are created equal. Every household needs to focus on creating a budget that takes into consideration their unique income and expenses, their financial goals and their lifestyle dreams. Plus, budgets shift over time as needs and wants change, so a household’s budget might look different from how it was a few months prior.Still, there are some common budgeting styles that guide beginners in budget creation. One of the most popular is the 50/30/20 budget — but what is this budget and why does it work as a jumping-off point for so many in personal finance? Read on to find out.
50/30/20 Basics
The 50/30/20 budget isn’t difficult to understand, which is why it is such a popular beginner budget. Simply put, the budget divides a person’s (or household’s) after-tax income into three categories: needs, wants and savings.
It is important to note that the 50/30/20 budget is best for those with roughly average income. Because needs do not increase or decrease in cost based on income level, those with high or low income won’t be able to adhere to the budget without being remarkably wasteful…
“How do I become a money coach in Canada?”
– moneysense.ca
Q. I was reading an interesting MoneySense article entitled, “Should you change careers and become an investment advisor?” and I was wondering where someone can get their qualifications or certifications to become a money coach in Canada. I’ve tried some general web searches but it hasn’t turned up much.
–Cynthia
A. Congratulations, Cynthia: You currently have all the education and credentials you need to open a financial planning practice right now, in Ontario. The most important thing for your success is to pick a business name that exudes confidence, experience, and trustworthiness. Something really attractive to unsuspecting clients.
Forgive my sarcastic sense of humour, but the sad truth of it is that while a few organizations, such as The Financial Planning Association of Canada (FPAC) and Money Coaches Canada, uphold specific standards, in Ontario and most other provinces, anybody can call themselves a financial planner, a money coach, or almost any other variation…
–Cynthia
A. Congratulations, Cynthia: You currently have all the education and credentials you need to open a financial planning practice right now, in Ontario. The most important thing for your success is to pick a business name that exudes confidence, experience, and trustworthiness. Something really attractive to unsuspecting clients.
Forgive my sarcastic sense of humour, but the sad truth of it is that while a few organizations, such as The Financial Planning Association of Canada (FPAC) and Money Coaches Canada, uphold specific standards, in Ontario and most other provinces, anybody can call themselves a financial planner, a money coach, or almost any other variation…
