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.
Latest News
Stock market news live updates: Stocks rally, Intel craters, as inflation data cools - Yahoo Canada Finance Jan 27th
Stock market news live updates: Stocks rally, Intel craters, as inflation data cools Yahoo Canada FinanceU.S. stocks retreat as traders weigh earnings, PCE data BNN BloombergStocks Jump As Recession Fears Ease BarchartNasdaq 100 Heading for Best Week Since November: .... More »
Don’t just be generous, be smart: Experts recommend a thought-out strategy for charitable donations + MORE Jan 2nd
Experts see payoffs in adding a properly advised strategy — acknowledging ‘your head, your heart and your wallet’ — into your financial plan..... More »
Making sense of the markets this week, October 31, 2021 Oct 30th
Each week, Cut the Crap Investing founder Dale Roberts shares financial headlines and offers context for Canadian investors.
Scotiabank says 8 rate hikes are on the way
Scotiabank’s Derek Holt shared that we could see eight rate hikes in Canada over the next two years. That is ag.... More »
3 ways to recession-proof your RRIF Mar 1st
What should you do with your RRIF right now? With talk of a recession, investors who self-manage their registered retirement income fund (RRIF) accounts may be wondering how best to protect their investment portfolios while still meeting their annual spending needs.
In general, for investors who .... More »
Single mom Adelaide has $22,000 in line-of-credit debt — here’s how she learned to dig her way out + MORE May 28th
If she cannot chip away at her line of credit, says financial expert Jason Heath, it is going to hold Adelaide back from financial freedom in the future..... More »
Planning for an inheritance
– moneysense.ca
My mother passed away three days after her 66th birthday, leaving me with an inheritance I never expected.
Until two years ago, I assumed she would live into her 80s. But she had a terminal illness that progressed significantly in the final months of her life. Her care costs were minimal. We had great support from family and from government-funded resources.
But I have also seen things go the other way. Families burn through savings to cover full-time care for an aging parent at costs that can exceed $10,000 per month. In those cases, at the end of an aging relative’s life, there may be no inheritance left to pass along to loved ones.
At our financial planning practice, one thing we ask clients is if they are expecting an inheritance; it’s a question on our intake form. We ask because it is relevant, both for retirement planning and discussion purposes. But as the two scenarios I’ve just described show, the most we can ask for is a best-guess answer. On the benefactor’s side, nobody knows how long they will live, nor what potential long-term care costs may be incurred during one’s later years—so a beneficiary may or may not receive an intended inheritance…
Until two years ago, I assumed she would live into her 80s. But she had a terminal illness that progressed significantly in the final months of her life. Her care costs were minimal. We had great support from family and from government-funded resources.
But I have also seen things go the other way. Families burn through savings to cover full-time care for an aging parent at costs that can exceed $10,000 per month. In those cases, at the end of an aging relative’s life, there may be no inheritance left to pass along to loved ones.
At our financial planning practice, one thing we ask clients is if they are expecting an inheritance; it’s a question on our intake form. We ask because it is relevant, both for retirement planning and discussion purposes. But as the two scenarios I’ve just described show, the most we can ask for is a best-guess answer. On the benefactor’s side, nobody knows how long they will live, nor what potential long-term care costs may be incurred during one’s later years—so a beneficiary may or may not receive an intended inheritance…