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Managing tax in a “tenancy in common” situation Nov 25th
Q. I am a co-owner of a cottage in Ontario. The other co-owner would like to buy out my 50% share of the cottage as tenant in common. Do I have to claim capital gains if the cottage isn’t being sold?
–Claudia
A. Real estate is commonly owned as joint tenants, with rights of survivorship by spous.... More »
How to plan for retirement in five or 10 years Dec 8th
I am a divorced empty nester and a registered nurse, who is trying to figure out how to plan the next five to 10 years, before my retirement. Currently I am a 55-year-old female, and I will have a pension from my workplace. Unfortunately due to life circumstances, I did not start my company pen.... More »
Making sense of the markets this week: October 4, 2021 Oct 1st
Each week, Cut the Crap Investing founder Dale Roberts shares financial headlines and offers context for Canadian investors.
Will the energy crunch turn into an energy crisis?
The energy story is dominating headlines these days, described as a crunch or even an energy crisis .... More »
Tesla drops another 6% in premarket, bringing two-day losses to 14% - CNBC Feb 23rd
Tesla drops another 6% in premarket, bringing two-day losses to 14% CNBCElon Musk loses US$15 billion in a day after bitcoin warning BNNWhy The Tesla Stock Is Falling Torque NewsElon Musk is the Bitcoin-buying hypocrite we deserve Nikkei AsiaElon Musk's br.... More »
How to buy Scotiabank GICs + MORE Mar 10th
Guaranteed investment certificates (GICs) are a no-risk way to invest your money with the confidence that you’ll get back your principal plus interest. Usually, GICs offer interest rates that are better than savings accounts, especially now that the Bank of Canada’s recent rate hikes have booste.... More »
What does a fee-only financial planner do, exactly?
– moneysense.ca
Q. How do you make money, Jason, if you don’t sell any products?
–Rob
A. Your question is a good one that I get a lot, Rob—even from people in the industry. So let me explain.
Something that I like to reinforce frequently is that I do not sell any financial products. I feel this is an important point to clarify so people do not wonder if I have a conflict of interest when they read my advice in articles and interviews.
Some financial planners make money by selling products, like mutual funds or insurance. Those products may pay them upfront or ongoing commissions, or a combination of the two. Different products pay different commissions, and their advice may be influenced by the way they get paid. That is not to say their advice may not be good, but they may have conflicts of interest.
Many consumers do not understand the difference between a financial planner, a financial advisor, or the many other financial titles that companies and individuals use to describe their role. Quebec is the only province where you need credentials to call yourself a financial planner…
–Rob
A. Your question is a good one that I get a lot, Rob—even from people in the industry. So let me explain.
Something that I like to reinforce frequently is that I do not sell any financial products. I feel this is an important point to clarify so people do not wonder if I have a conflict of interest when they read my advice in articles and interviews.
Some financial planners make money by selling products, like mutual funds or insurance. Those products may pay them upfront or ongoing commissions, or a combination of the two. Different products pay different commissions, and their advice may be influenced by the way they get paid. That is not to say their advice may not be good, but they may have conflicts of interest.
Many consumers do not understand the difference between a financial planner, a financial advisor, or the many other financial titles that companies and individuals use to describe their role. Quebec is the only province where you need credentials to call yourself a financial planner…
