Maximizing Your Retirement
Bob and Lisa are wondering just how their retirement will turn out. After all that’s happened over the past few of years, their RRSP accounts aren’t what they used to be. Even in the best of times, the accounts weren’t as large as they could have been, at least for all their post-retirement desires. The […]
What is Insurance?
Insurance surrounds each of us every day: When you get in your car, when you come home to your residence, and while you work. Insurance is always in the background discreetly doing its job. Most of us, however, do not think about it much or realize the very important function that all types of insurance […]
Using a Trust To Avoid Probate
Estate planning is a complex topic, and there are many different facets that have to be considered. One overriding concern many people have is doing something with their assets so they reduce the amount of income tax that may be owed. This is an obvious area for expert advice. However, it is important to realize […]
Beware of these scams aimed at seniors
According to recent news reports, seniors in Canada get bilked out of as much as $300 million every year. It is estimated that as many as one in five seniors have lost money to fraudsters and most don’t report it. Even though seniors today may be mentally sharper than ever, they are still the con […]
Estate Planning Tips and Traps
Julia wants to make sure that her estate passes to her heirs with as little hassle and cost as possible when she dies. She knows she needs a will and decides to buy a do-it-yourself will kit. When she opened it, she soon discovered some serious shortcomings. Advertised as a ‘legal will kit,’ she learned […]
The Income Tax Bond
Don, 65, and Marie, 63, are about to retire. They have accumulated about $500,000 in their RRSPs and own their home, free and clear. They want to leave as much as possible to their two children. Don and Marie realize that the value of their home should pass tax-free to their children and know their […]
Beware How You Help Your Kids Financially
A recent TD Canada Trust survey found that 10% of Canadians are considering the purchase of a condominium for their adult children. This is up from 5% just a year earlier and certainly reflects drastically increasing housing costs over the past decade. Gerry and Joanne were more than happy to give their daughter a sizable […]
Personal Finance & Job Transfers
These days, having a career presents many new rewards and far more challenges than it ever used to. What we used to take for granted, including our work location, has changed dramatically as companies continue to grow and even go global. This can be great for a business and its bottom line, but really tough […]
Traveling in Retirement
One of the top retirement goals for many is travel. As many as 1.5 million so called ‘snowbirds’ travel to the Southern United States during the winter. With summer just around the corner, thoughts turn to travel within our borders, too. The Canada Safety Council states that a few simple precautions can help ensure a […]
Mortgage Rules Tightened
In an effort to crack down on speculators and to discourage people from taking on too much debt, Ottawa is tightening mortgage rules again. These new rules are expected to take effect April 19, 2010. There is growing concern that the housing market in Canada may be overheating. Finance Minister Jim Flaherty stresses that while […]