Investments are crucial when building up to retirement. But once you get there, you need to make sure your investments are protected. There are a variety of tools that can help accomplish this, including a Term to 75 Return of Premium on Surrender Critical Illness Plan. This insurance will help you in the event youRead More
Are Money Problems are Worse Than Cheating in a Relationship? Surprisingly, Yes.
A poll by the Bank of Montreal shows 68 per cent of surveyed say fighting over money problems would be their top reason for divorce, followed by infidelity at 60 per cent. “It’s critical to communicate, be open to compromise and be prepared to talk frankly about financial issues, including your plans for retirement andRead More
Bankruptcy Myths Cleared Up
Everyone knows what bankruptcy is, but not how it works. Here are some myths cleared up. Very few people who file bankruptcy in Canada actually lose their homes. Typically the person filing for bankruptcy makes a settlement on the interest remaining on the property. Personal possessions, such as furniture and household goods, are exempt inRead More
When can You Retire? Half of Canadians Expect to be Working at Age 66
A study from Sun Life Financial shows nearly half of Canadians are afraid they might outlive their retirement savings and three out of four working Canadians don’t have a financial plan. With the retirement age seemingly increasing every year, it is more important than ever to plan. Having a financial plan will enable you toRead More
Stop Putting off Budgeting- Benefits to your Bank Account
There are many excuses out there; “I didn’t learn it in school”, “I don’t need to”, “I do it in my head”, and the list goes on. But nothing is as good as actually putting together a budget. You don’t need to be an expert to do some research to come up with a plan.Read More
How an Increase in Interest Rates could Affect You
Interest rates are currently at a very low level, and have been falling since the 1980’s. Here’s how an increase could affect you. With higher interest rates, Canadians will pay more interest. It is not yet known how Canadians will handle these larger payments but it is likely disposable spending will go down. This willRead More
How to Prepare your paycheque from the Threat of Pandemics
Whether it is Covid-19, or a future pandemic, it is essential to prepare for the dangers that can come. Many Canadians do not have an emergency fund. This is a liquid, usually cash, fund that is there when hard times hit. It is usually advised that everyone have an emergency fund that is three toRead More
Did you Defer your Mortgage Payment during Covid-19? Check Your Credit Score.
Hundreds of thousands of Canadians negotiated with lenders during the Covid-19 pandemic to defer mortgage payments. Some did it out of necessity, others did it “just in case”. No matter your reasoning, you should check your credit score. Although deferring your mortgage payment shouldn’t necessarily impact your credit score, it will show up on theRead More
How Does the Price of Oil Affect the Price of Gas?
Even when the price of oil is far below what it used to be, gasoline can still remain constant. This can be attributed to U.S. Dollars affecting the price of petroleum products, this can be seen with the West Texas Intermediate (WTI). Not only is our week dollar hurting us, the carbon tax has increasedRead More
How to Ensure your TFSA is Working for You
Nearly 60 per cent of Canadians have opened a TFSA since it was introduced. The Tax Free Savings Account is an essential tool in building wealth. As the name infers, it allows one to avoid paying tax on their investment gains. There are a few important things to keep in mind when using a TFSA;Read More