Category Archive: Finance

May 05

Trump Effect on Markets, Money and the Economy

My Own Meeting

How will Trump affect the financial markets, money markets and the economy? Regardless of what you think of the man, he is already showing a positive effect on all of the above! I’ll admit to being a little lazy, this is from my Canadian perspective. For the most part, US markets and economy usually demonstrate …

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May 11

Mortgage Risk: Could you end up house poor?

Dream home

What is your mortgage risk? With such low interest rates these days, people may be buying into being house poor in the long term. Don’t risk being caught short. Mortgage Risk (Mortgage calculations tested using TD Bank online calculator) Shopping for a home and mortgage is almost like playing the stock market only it’s an …

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May 02

Mortgage Insurance: How much of a gambler are you?

House in hands.

Mortgage insurance is offered by most financial institutions every time you renew your mortgage. Many have no guarantee it will pay out until they do the under-writing after you die. How much of a gambler are you?  Mortgage Insurance v Life Insurance Mortgage Insurance When you apply for a mortgage, most financial institutions will ask if you …

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Apr 21

TFSA 2015: Will you double down?

TFSA and #Budget2015

TFSA contribution limits will double once the Canadian federal budget is passed. Will you double your money? I believe the Tax Free Savings Account is the most misunderstood opportunity to save taxes while saving money. TFSA 2015’s Are Not Just For The Rich Many times, I have heard people on the street say that only …

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Apr 17

What Does A Will Cost?

My last will...

A typical will may cost you a few hundred dollars. Not having a will could cost your family a lot more. Do you care enough to write your last love letter? Will Cost Your will and powers of attorney are your last chance to tell everyone what you want to happen with your possessions and money. …

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Dec 16

Financial Planning or Life Planning? Shouldn’t they go together?

Picture with quote.

Why isn’t financial planning part of our educational core curriculum?  I remember my children carrying an egg around in high school to try and teach the fragility of caring for a child.  Because my kids were in a Catholic high school, they were taught the basic tenets of our faith.  They were taught English, math …

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Mar 22

Don’t you love paying taxes?!

This time every year, we are focused on income tax.  Whether you are in Canada or the US, it is the season. The thing to appreciate is that if you have to pay taxes, that’s a good thing.  That means you made enough money for taxes to be a challenge.  The trick is to do …

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Mar 13

KYC – Finger Lickin Good!

No, it’s not about chicken! Knowing and understanding your clients’ needs is crucial to providing excellent customer service and increases your retention.  This applies to all businesses.  We sometimes forget that.  I’ll use finance to explain and wrap it up for you at the end. KYC = Know Your Client.  If you haven’t done one …

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Feb 01

Ouch!

I just looked at my T4 and saw how much income tax I paid over the last year.  Having a home based business will take some of the bite out but there is more that can be done. If you go to the Ernst & Young web site:  http://www.ey.com/CA/en/Services/Tax/Tax-Calculators you can take a look at what …

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Jan 13

We are coming into a taxing time!

That time of year quickly approaches. The infamous tax season!It’s not too late. You can still take advantage of your RSP’s for the 2011 tax year in Canada (by the end of February!).Here is a little trick. This may not work for you and you should certainly discuss this with your adviser first.What if you borrowed …

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