Personal Finance

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RRSP Ages and Stages

RRSP Ages and Stages

Everyone knows it’s RRSP season, but what’s less obvious is how to best direct your contributions over the years. Different ages and life stages call for different strategies. There’s an overarching theme, though: anything you can put toward your retirement... (Continue reading)

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Mortgage First RRSP Later

Mortgage First RRSP Later

Judging 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... (Continue reading)

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Take Full Advantage of Tax-Free Savings Accounts

Take Full Advantage of Tax-Free Savings Accounts

Recent 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... (Continue reading)

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Canadians Just Dont Understand TFSAs

Canadians Just Dont Understand TFSAs

Tax-free savings accounts (TFSA) may be increasingly popular, but they also have a lot of Canadians scratching their heads. Forty-eight per cent of Canadians have a TFSA, up from 23 per cent in 2012, according to Bank of Montreal’s recently... (Continue reading)

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Top 6 Threats to Your Finances in 2014

Top 6 Threats to Your Finances in 2014

Mounting debt We’re all another year older, and as the old song goes, deeper in debt. The latest measure of household debt by Statistics Canada shows the average household owes nearly $1.64 for every dollar it earns in a year.... (Continue reading)

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Kids Develop Money Habits By Age Seven

Kids Develop Money Habits By Age Seven

Kids develop money habits by the time they’re seven, according to recent research from Cambridge University. And that means that parents’ financial styles have an influence on their kids own fiscal skills well into adulthood. Backed by London’s Money Advice... (Continue reading)

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5 Practical Financial Preparations For a Long-Term Vacation

5 Practical Financial Preparations For a Long-Term Vacation

When that first cold wind or frost hits, I’m always surprised. I have no clue why — I’m Canadian, a Winnipeg native — and I’m well acquainted with this country’s winters. If the chilling reminder of what’s in store this... (Continue reading)

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How to Prevent Your Investments From Cracking

How to Prevent Your Investments From Cracking

Don’t put all your eggs in one basket. It’s a maxim we have all heard since childhood. The basic premise is that if you must figuratively transport a number of eggs from one place to another, placing all of them... (Continue reading)

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Pensions Are Worth Zero?

Pensions Are Worth Zero?

A recent Family Finance column in the Financial Post showed something strange about the way that financial planners calculate a person’s net worth. Apparently, having a defined-benefit pension plan does not add anything to your net worth. The article profiled... (Continue reading)

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Why Millennials Need to Get Over Their Fear of Stocks

Why Millennials Need to Get Over Their Fear of Stocks

After coming of age during the worst economy since the Great Depression, many members of the Millennial Generation have become wary of the stock market. But by putting their money into so-called “safer” investments, these young people are actually putting... (Continue reading)

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