The close: Financials lead TSX’s broad gains to end choppy week + MORE Jan 13th

Canadian bank earnings also expected to rise because of increased activity following Trump victory

Save, invest, prosper with My Own Advisor.
For years some financial experts have suggested the most cost effective way to protect your family is through buying term life insurance – and investing the difference.
Previous articles on my site have debated this but for us – term life insurance works.
Here’s a list of key reasons why term life insurance works in our house:

It’s simple to understand. You have premiums, you have a term for your premiums and you get coverage.
Our policy is renewable and convertible. This means our coverage can be renewed and/or converted to a permanent plan when the term is up without a medical exam.
Our premiums are low.
Our premiums are fixed. They won’t go up for the length of our term.
We hope to self-insure eventually when all debts are paid off and assets can cover the following:

Income replacement from a prolonged job loss
Money for emergencies
“Final” expenses

Life insurance benefits are tax-free.  So with term life insurance, while you are paying your modest premiums should something catastrophic occur to you, your designated beneficiaries will receive a tax-free, lump-sum death benefit…

S&P 500 gains as bank earnings start strong

If you’re like most of us, you probably wish you could have a lot more money with a lot less effort. Luckily, there’s a simple way to accomplish this if you’re willing to learn how to put your money to work for you. It’s called compound interest, which is calculated on your initial principal and also on the accumulated interest of previous periods. It’s this “interest paid on interest” that causes the snowball affect—or compounding—that rapidly grows your wealth.
To take maximum advantage of compounding, just follow these three easy, wealth-building rules.
1. Focus on savings in the first 10 years
When you’re younger, it’s not so much about the type of investments you hold but more about just diligently saving. “Mutual funds or stocks? It just doesn’t matter much at this stage,” says certified financial planner Janet Gray. “Simply having a savings account means you’re in the game.”
That’s because at the beginning, your savings will be the key way of growing your money…

The settlement could help Takata win financial backing to potentially restructure and pay for massive liabilities from the recall