Why Canada’s Olympic Medalists Can’t Outrun the Taxman

Why Canada's Olympic Medalists Can't Outrun the TaxmanWhen Canada’s Olympic athletes returned home from Rio this week with a 22-medal haul, they were met at the airport by cheering family and friends as well as autograph-seeking fans. But some of them may also soon be greeted by the taxman looking for a piece of their Olympic winnings. In addition to the hardware the winning athletes brought home from the games, each Canadian medal winner will also receive…

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5 Lessons that will Help Protect Your Portfolio

5 Lessons that will Help Protect Your PortfolioOne of the fascinating things about the market is that, no matter how long you invest, or how much you think you know, there can always be new lessons learned. For a lot of investors, losing money — unfortunately — is often the cost of tuition for these market lessons. But, no investor is going to bat 1.000, and if you can at least learn from your mistakes then your…

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You Only Live Once

You Only Live OnceIf you’re of a certain age, YOLO needs no translation. For the rest of us, personal finance writer Jason Vitug has helpfully spelled it out in the title of his latest book: You Only Live Once. Vitug is American, as is his publisher John Wiley & Sons Inc. but, as is often the case, the basic principles transcend borders. Vitug was a credit union executive who has turned financial guru…

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Most Millennials Don’t Expect to Become Millionaires

Most Millennials Don't Expect to Become MillionairesEach of us is now responsible for saving for our own retirement, but many young people aren’t feeling particularly optimistic about their ability to do so. Most millennials (64 percent) say they don’t expect to be able to accumulate $1 million for retirement over their lifetime, according to a Wells Fargo and GfK survey of 1,005 millennials ages 22 to 35 who are employed U.S. residents, but not working in…

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Investing in Group RESPs?

Investing in Group RESPs?Quite possibly one of the greatest things you can do for your children’s future is to open a Registered Education Savings Plan (RESP) for them.  This specialized registered account carries several benefits that ultimately help build money towards your child’s college education. Such benefits include being entirely tax free and the ability to receive government education grants to boost your balance.  Because the cost of college is always rising it…

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