5 Steps To Take To Jump-Start Your Financial Success

5 Steps To Take To Jump-Start Your Financial SuccessLacey Hamilton hopes to attend the 2018 Winter Olympics in Pyeongchang, South Korea to cheer on the Canadian athletes. To save for the trip, the 22-year-old Mississauga resident drops spare change and $5 bills into a 0.9-litre mason jar that she empties into a savings account when it becomes full. “I live on a cash diet as much as possible,” she says. “I find that’s the best way for me…

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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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The TFSA Cap will Stay at $5,500 for 2017

The TFSA Cap will Stay at $5,500 for 2017The annual TFSA dollar limit will remain frozen at $5,500 for 2017 and, in fact, may be stuck at that level until at least 2019, as a result of years of low inflation and the unusual rounding mechanism built into the TFSA limit. This week, the Canada Revenue Agency announced the inflation rate — 1.4 per cent — that will be used to index various personal income tax and benefit…

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3 Top REIT Picks For 2017

3 Top REIT Picks For 2017It has been an interesting year for Canada’s REITs. The early part of the year was marked by weakness in Alberta, especially the office market. Demand dried up as many oil companies either went bankrupt or downsized. The rest of the year was dominated by interest rates. First rates crashed with negative rates in Japan and Switzerland making headlines. This sent the price of REITs higher. That was followed by a steady…

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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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How to Avoid the Next Dividend Disaster

How to Avoid the Next Dividend DisasterThe protracted slump in crude and the ongoing weakness of commodities over the last two years triggered a dividend crisis for Canadian investors. A raft of dividend darlings in the energy patch slashed or even terminated their dividends as they battled to shore up over-levered balance sheets and protect diminishing cash flows. This wasn’t only restricted to energy stocks. Dividend cuts occurred across the TSX as companies sought to rein…

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3 Steps to a More Secure Retirement

3 Steps to a More Secure RetirementEven though many of us are still decades away from retirement, it’s a constant worry. Nobody wants to run out of cash during their golden years. With record housing prices, higher food costs, and increasing financial commitments despite stagnant salaries, saving for retirement is tougher than ever. And with interest rates hitting record lows, it’s hard to get decent returns–especially from fixed income. Investors don’t have to fret about obligations decades away….

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Canada and the Loonie Just Got Some Great News

Canada and the Loonie Just Got Some Great NewsIt looks like Canadian investors can enjoy a sigh of relief: the U.S. Federal Reserve signaled today that it wouldn’t raise rates. It also introduced an increasingly cautious approach by cutting the number of rate increases expected in 2017 and 2018. The long-run interest rate forecast was also reset lower to 2.9% from 3%. Why is this such a big deal? The loonie has faced an onslaught of pressures in recent months and years.  Read…

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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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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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