RRSP Deadline March 1 – Seven Tips For Making Last-Minute Contributions

RRSP Deadline March 1 - Seven Tips For Making Last-Minute ContributionsThe month of March is fast approaching, but there’s still time to contribute to your RRSPs. Hop to it now if you want to bulk up your retirement savings and offset the hit from the tax man. 1. Remember deadlines are deadlines. March 1, 2017, is the deadline for contributions for the 2016 tax year, and that means the latest you contribute is by the end of the March 1…

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In Debt and Afraid – Dealing with Debt Collectors

In Debt and Afraid - Dealing with Debt CollectorsIt’s a scary place to be — in debt and afraid. A new Consumer Financial Protection Bureau report found that more than one in four consumers felt threatened when contacted by debt collectors. The first-ever national survey of consumer experiences with debt collectors found consumers often faced calls that came too often, at odd hours and contained warnings of jail time and other threats. Some were contacted for debts they…

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4 Tax-Planning Tips to Take Advantage of by Dec 31

4 Tax-Planning Tips to Take Advantage of by Dec 31Tax planning may be the last thing on Canadians’ minds as they get ready for the hustle and bustle of the holiday season. But now is the time to take advantage of credits and benefits available to you until Dec. 31, says Jamie Golombek, managing director of tax and estate planning at CIBC Private Wealth Management. Otherwise, you may be leaving money on the table that you won’t be able…

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Why the Chip Card isn’t the Disaster Everybody Says It Is

Why the Chip Card isn't the Disaster Everybody Says It IsFrom all the grumpiness over the “EMV” chip-card transition, you’d think that the circuitry embedded in our new credit cards delivered a small electric shock every time you inserted one into a terminal at a check-out counter. Customers say they don’t like chip cards because you have to leave them in a reader for as long as half a minute instead of swiping a card’s magnetic stripe with a single,…

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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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Debt to Continue Rising in 2016

Debt to Continue Rising in 2016Canadian households will close out 2015 carrying thicker layers of debt after worrisome gains over the past 12 months — extra padding that’s expected to get even fatter in the new year. But even with the borrowing binges, many experts still believe the finances of most Canadians remain in decent shape. This assessment comes as the country shows worrisome signs linked to consumer spending. It has a record-high debt-to-income ratio…

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The Weekend is Over And the Markets are Falling Again

The Weekend is Over And the Markets are Falling AgainAn office worker walks past an Australian Securities Exchange (ASX) window. World markets are open for Monday trading, and they’re down. US futures are in the red with Dow futures down 120 points and S&P 500 futures down 13 points. Asian markets are also set to trade in the red. All this follows last week’s bloodletting, which saw the S&P 500 fall 6%. It was the worst first five trading…

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3 Smart Ways to Use Your Holiday Bonus

3 Smart Ways to Use Your Holiday BonusMore than half of employers (54%) said they planned to give holiday bonuses in 2015, up from 47% in 2014, according to a new survey from CareerBuilder. (Sadly, only 14% plan to give more than last year.) If you happen to be one of their lucky employees, perhaps you’re wondering how to put that cash to use. Fortunately, we have some ideas. 1. Sock It Away Study after study highlights…

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Canada Remains One of the Top To Start a Business

Canada Remains One of the Top To Start a BusinessCanada remains one of the top countries in the world to start and run a business, according to a new report from the World Bank Group. The Great White North was just ranked 14th out 189 countries on the World Banks’ Doing Business 2016: Measuring Regulatory Quality and Efficiency rankings.Canada was ranked 13th last year, a drop of one spot. But, Rita Ramalho, manager of the Doing Business rankings and…

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If this Key Trend Ends Stocks Could be in Trouble

If this Key Trend Ends Stocks Could be in TroubleIt could be called the Great American Dichotomy: As the rest of the world struggles, the American economy continues to slowly grow. But some traders say that investors are making a big mistake if they think this divergence will continue forever. After Caterpillar (CAT) released earnings Thursday, CEO Doug Oberhelman told CNBC’s ” Squawk Box “: “We’ve seen a real dichotomy here in the world. The U.S. growing fairly slowly…

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