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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5 More Reasons Mutual Funds Stink

5 More Reasons Mutual Funds StinkEarlier this year we penned a couple of columns that, more or less, beat up the mutual fund industry. We will add one more now, with a bit of an extension to highlight what’s wrong with the investment industry in general as well as mutual funds. Then we’ll give our friends and former colleagues in the business a break, but until then here are five more things we don’t like…

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Using Dividend Stocks to Build Income

Using Dividend Stocks to Build IncomeHow did you get into investing?After finishing post secondary, I visited my local banker to get some investing advice and was pointed towards one of their mutual funds that was selected based on my risk tolerance at the time. I set up an automatic withdraw plan and watched as my net worth began to slowly grow in size. It was a good feeling! After reading copious amounts of literature on…

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Financial Advice that is Popular And Wrong

Financial Advice that is Popular And WrongSome financial advice is so oft-repeated that everyone takes it for granted: You shouldn’t bring debt into retirement. Debit cards are safer than credit cards. Older folks should invest more conservatively. As they used to say on Seinfeld, yadda yadda yadda. The problem is, a lot of that is bad advice. At best it fit a bygone era; at worst it was never right and is dangerous. Here is a…

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Why are so many of Canada Young People out of work?

Why are so many of Canada Young People out of work?Some may call them whiny and self-important, but when it comes to jobs, Generation Y’s sense of entitlement is partly the result of being pointed down career paths that have led them back to the same opportunities they had when they were teenagers. “I don’t expect vacations, shopping or extravagance in my life,” said Angie Robbins, a 27-year-old who has a bachelor’s degree in nursing. “I want to work, [but]…

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The Economic Cost of Surgery Wait Times

The Economic Cost of Surgery Wait TimesWhile most Canadians would agree on the human cost of waiting for surgery and other medical treatments in Canada, few realize that there is also an economic cost in addition to the frustration, pain and stress for individuals and their families. According to a Fraser Institute study published last year, the surgical wait times in the country cost Canadian patients a combined $1.08 billion in lost time and productivity in…

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The 5 Financial Habits that Changed My Life

The 5 Financial Habits that Changed My LifeI don’t try to hide the fact that we used to be pretty sucky with our finances.  Although we never let things get too out of hand, I finally accept the fact that we used to waste most of our income.  We bought stuff.  We went on trips.  If we didn’t have the cash, we would finance anything that we desired.  Even furniture.  And vacuums.  I swear. We also lived without any sort…

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Cheap American Flights threaten Canadian Airport Business

Cheap American Flights threaten Canadian Airport BusinessThe promise of cheaper flights is driving many Canadians across the border to U.S. airports — costing millions of dollars in lost revenue in Canada — but the federal government says it won’t subsidize air travel. The trend of more Canadians flying out of the United States is disconcerting to Canada’s aviation industry, which is calling on the federal government to do something to lure back those travelers.  Read More…

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Harder for Gen Y First-Time Home Buyers to Get Into Market?

Harder for Gen Y First-Time Home Buyers to Get Into Market?Andrew MacLeod is part of demographic that apparently is being priced out of Canada’s housing market, but that didn’t prevent the 34-year-old from finding a way to buy his first home. MacLeod and his wife, 33, overcame current economic hurdles such as high property prices, tighter lending conditions and shaky job markets to purchase their four-bedroom, two storey semi-detached house in Ottawa’s Lindenlea neighbourhood, which MacLeod cheekily describes as the…

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Bank of Cyprus Big Savers to Lose up to 60%

Bank of Cyprus Big Savers to Lose up to 60%Large depositors at Cyprus’ largest bank may be forced to accept losses of up to 60 per cent, far more than initially feared under the European rescue package to save the country from bankruptcy, officials said Saturday. Deposits of more than 100,000 euros ($128,000) at the Bank of Cyprus would lose 37.5 per cent in money that would be converted into bank shares, according to a finance ministry decree obtained…

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