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GIC or Savings Account?
Courtesy of Balance Junkie I recently had two reasons to look up the going rates on GICs and savings accounts. I thought I’d share what I found with you today and raise the question: Is it worth it to put... (Continue reading)
The Stages of Financial Security to Ensure Your Financial Independence
We all want financial security, but, wow, it sure does seem like a long way off to most of us, doesn’t it? It’s hard to stay focused on such a distant goal, so I like to create mental milestones to... (Continue reading)
Knowing your Banks – ICICI Bank Canada
ICICI Bank Canada is a full service direct bank, which offers a comprehensive suite of personal, commercial and cross border banking products and services. ICICI Bank Canada is a wholly owned subsidiary of ICICI Bank Limited, and it is headquartered... (Continue reading)
Why banks aren’t paying higher interest rates
So far in 2010, Canadians have opened 20 per cent more chequing and savings accounts than last year at this time. That amounts to about $100 billion in new deposits and Canada’s major banks have been fighting for a share... (Continue reading)
Ottawa backs down on tax-free savings account errors
Finally, the government has come to its senses about the 70,000 letters sent to Canadians who made over-contributions to tax-free savings accounts or transferred them without the proper paperwork. In a statement issued this afternoon, the two ministers responsible for... (Continue reading)
The Importance of Paying Attention to Financial Statements
Written on 24 Jun, 2010 at 3:03 in Personal Finance | Comments
I’ll relate my experience to underscore the significance of paying attention to your finances – not just the saving and investing parts but also the all-important records of those money transfers/contributions. I contributed to my TFSA account for 2009 in... (Continue reading)
At 55 – Is it Too Late For Retirement Planning?
During my day job, I meet many clients to look at their personal finances. More precisely, my mandate is to create financial plans and help clients with more than $250,000 invested with the bank. So, most of them are in... (Continue reading)
Chuck it All and Buy GICs?
Written on 23 Jun, 2010 at 6:32 in Personal Finance | Comments
It’s possible to make a reasonable argument that the average investor would be better off investing in GICs than stocks and bonds. Unfortunately, David Trahair fails to make this argument well in his book Enough Bull: How to Retire Well... (Continue reading)
The Basics And Benefits Of Registered Retirement Savings Plans
What if there was a way that you could get the Canadian government to pay almost half of the money you needed to make an investment (be it for the purchase of stocks, mutual funds, guaranteed investment certificates, mortgages etc.).... (Continue reading)
Pay Yourself First: AutoMagic Bill Payments
I was reading another site and saw that someone has written a book or is charging folks to learn how to make their personal finances automatic so in response to that, here are some simple ideas (for free (and thus... (Continue reading)
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