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Latest News
“Which reverse mortgage is right for me?” + MORE Sep 14th
When Vancouver condo owners Maggie and Rob found out they were on the hook for $400,000 in improvement costs to their building and unit as required by an assessment from their Strata Council, they weren’t sure what to do. (We’ve changed their names and some details to protect their privacy.)
.... More »
Should you loan money to someone who is house rich and cash poor? May 18th
My daughter is 60, divorced, owns a house, perhaps $800,000 house value. She has a small mortgage and no savings of any kind. She lives on a line of credit and a credit card. Her only income is about $300 to $400 monthly CPP.
She is wondering how best to manage. Should she sell now and rent for a.... More »
Downsizing vs reverse mortgage: which option is right for you? Feb 2nd
For many Canadians approaching retirement, their home is by far their largest asset. With detached homes in major cities selling for well above $1 million, it’s not surprising that owners expect to tap into that equity to help fund their golden years, prompting the common refrain: “My home is my.... More »
A portfolio built to minimize taxes + MORE Oct 7th
Marie Lewis, 58, Toronto (Photo by Micah Bond)
The Problem
The 58-year-old business analyst from Toronto plans to retire in a couple of years, but needs to invest two recent windfalls. Last month, she transferred the six-figure commuted value of her company pension to a Locked-in Retirement Account .... More »
Chicago Has Another Bond for You Aug 19th
The city may try to paper over its pension woes with new debt..... More »
Louisiana hit with credit rating downgrade, blow to state
– canadianbusiness.com
BATON ROUGE, La. – Louisiana’s credit rating was downgraded for the first time in more than a decade Thursday, in response to years of budget instability that leave public colleges and government services wallowing in continued financial uncertainty.
The decision by Moody’s Investors Service to drop the state’s credit rating is another blow to a state teetering on the edge of financial calamity. And it comes as Gov. John Bel Edwards and lawmakers are grappling in a special legislative session with balancing the budget.
The national rating agency dropped the state’s rating by one notch, to Aa3. Moody’s cited the steep drop in oil price’s effect on state tax collections, years “of structural imbalance” in the budget and declining financial reserves. It raised concerns about state retirement debts and the growing cost of Louisiana’s Medicaid program.
Ratings from the credit agencies help determine interest rates when the state borrows money, through bond sales to investors…
The decision by Moody’s Investors Service to drop the state’s credit rating is another blow to a state teetering on the edge of financial calamity. And it comes as Gov. John Bel Edwards and lawmakers are grappling in a special legislative session with balancing the budget.
The national rating agency dropped the state’s rating by one notch, to Aa3. Moody’s cited the steep drop in oil price’s effect on state tax collections, years “of structural imbalance” in the budget and declining financial reserves. It raised concerns about state retirement debts and the growing cost of Louisiana’s Medicaid program.
Ratings from the credit agencies help determine interest rates when the state borrows money, through bond sales to investors…
More Canadians looking at investing outside the country
– moneysense.ca
TORONTO – Canadian investors are increasingly looking at putting their money to work outside the country despite the drop in the loonie, a CIBC poll suggests.
The survey found that 41 per cent of Canadians investing for retirement in stocks or mutual funds will invest mainly outside of the country.
That result is up from 31 per cent in a similar poll last year.
The poll conducted in January by Vision Critical found 15 per cent of those surveyed said they planned to add to their U.S. investments, while another 15 per cent were investing in emerging markets.
The Couch Potato goes abroad »
Eleven per cent planned on stocks and mutual funds in developed markets such as Europe.
The online poll was done by Vision Critical from Jan. 20 to 22.
Much of the Canadian stock market is based in three key sectors — energy, mining and financials. The concentration meant last year that the S&P/TSX composite index suffered due to weakness in oil and other commodity prices.
“While it’s natural for investors to have a ‘home bias’ by overweighting your portfolio to domestic stocks, taking a Canada-only approach can hurt returns,” says Luc de la Durantaye, managing director, asset allocation and currency management, CIBC Asset Management…
The survey found that 41 per cent of Canadians investing for retirement in stocks or mutual funds will invest mainly outside of the country.
That result is up from 31 per cent in a similar poll last year.
The poll conducted in January by Vision Critical found 15 per cent of those surveyed said they planned to add to their U.S. investments, while another 15 per cent were investing in emerging markets.
The Couch Potato goes abroad »
Eleven per cent planned on stocks and mutual funds in developed markets such as Europe.
The online poll was done by Vision Critical from Jan. 20 to 22.
Much of the Canadian stock market is based in three key sectors — energy, mining and financials. The concentration meant last year that the S&P/TSX composite index suffered due to weakness in oil and other commodity prices.
“While it’s natural for investors to have a ‘home bias’ by overweighting your portfolio to domestic stocks, taking a Canada-only approach can hurt returns,” says Luc de la Durantaye, managing director, asset allocation and currency management, CIBC Asset Management…
What procrastinators should do about the RRSP deadline
– moneysense.ca
OTTAWA – If you haven’t made a contribution to your RRSP account so far this year, investment advisers say you are not alone.But while the volatile ride the Toronto Stock Exchange has taken in recent months may have given reason to procrastinate, the deadline is just around the corner.
Linda MacKay, senior vice-president for personal savings and investing at TD Canada Trust, said the stock market fluctuations in recent months may have some pondering what’s the right thing to do.
But, she said, the earlier people start saving for retirement, the better.
The savvy investor’s guide to RRSPs »
“It is incredibly difficult to time the market and typically if you do try to you’re going to probably miss some of the best times to buy,” MacKay said.
“People who are nervous about the market tend to hit the worst days and miss the best days. We know over the long run if you have a good plan and you’re focused on your long-term goals then staying invested in the right investments for your risk tolerance is a better strategy…
