Purchasing travel insurance when we leave Canada is a no-brainer. It’s paying a small amount to avoid incurring bills in the thousands and even millions. However, it is an extra expense. The cost for the baby boomer demographic is rising, and can become prohibitive if...
The role of the middleman is to save you money. This is the case when it comes to purchasing a GIC. You receive a higher interest rate when you purchase through a deposit broker instead of going directly to the bank. Deposit brokers offer a similar type of service as...
Most financial institutions still make it their goal to create a financial plan for their clients. This is a one-dimensional approach that falls short of the complex realities facing retirees. The goal of a financial advisor should be to clarify a client’s wants...
Many Canadians are better off contributing to a TFSA rather than an RRSP. The amount you can contribute to a TFSA is based on your TFSA contribution room. If the TFSA has not yet been opened, then the individual can contribute up to $46,500 based on the maximum...
This week the loonie fell below 69 cents US for the first time in 13 years. There are some benefits to a low dollar, but this has a big negative effect on snowbirds. Canadians taking their usual winter escape will be feeling the pinch. Their discretionary spending, on...
