Canadian Investors Keeping Cash Within Our Borders

Canadian Investors Keeping Cash Within Our BordersBlame it on Olympic fever. It seems nothing is immune to the wave of Canadian pride sweeping the nation, not even how we choose to invest our money. A new poll from CIBC Asset Management found the majority of Canadians, though primarily interested in long-term growth, remain reluctant to stray too far from home when it comes to investing our retirement portfolios. Indeed, 68 per cent of Canadians surveyed said…

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Mortgage First RRSP Later

Mortgage First RRSP LaterJudging by the barrage of Registered Retirement Savings Plan (RRSP) information you would think making a contribution before the March 3rd deadline is a slam dunk no matter who you are. The truth is; it doesn’t make sense for a lot of people – especially if you’re young. In most cases it’s better to pay down debt than contribute to a registered retirement savings plan. In some cases paying down…

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5 Ways to Limit Your Risk of Credit or Debit Card Fraud

5 Ways to Limit Your Risk of Credit or Debit Card FraudWhen Target acknowledged last month that 70 million credit and debit card accounts had been exposed to theft, it was another stark reminder that any of us can become victims of fraud. Close to half a billion dollars is lost to credit-card fraud in Canada annually. Here are five ways to limit your risk: 1. Answer your phone with suspicion Be wary of individuals who ring you out of the…

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Take Full Advantage of Tax-Free Savings Accounts

Take Full Advantage of Tax-Free Savings AccountsRecent data indicate that Canadians are saving more. Statistics Canada reports the Household Savings Rate is currently 5.4%, a 0.4% increase from the previous year. Likewise, a recent BMO Bank of Montreal study found that 48% of Canadians are now investing in tax-free savings accounts, a 23% increase from 2012. It’s good that Canadians are saving, but unfortunately too few are making the most of it. Part of the problem…

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