Someone who is in or nearing retirement has many ways to invest a financial windfall. Here’s how to ensure the money serves you well. I wrote this article for the Qualified Advice column of MoneySense, the online Canadian personal finance magazine. Qualified Advice is written by...
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Occasionally I read about people who regard themselves as fairly sophisticated investors entering into a strategy of beginning to receive the Canada Pension Plan (CPP) at age 60 while continuing to be employed. There may be multiple reasons for making this choice. The most ill-informed reason...
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One of the reasons why people love dividends, especially in the accumulation stage, is that they like the idea of being paid from their investments and using those investments to buy more of the same securities. This can be done in an automated matter by...
Read MoreIt may be an obvious thing to say, but common-law partnerships are increasingly “common” in Canadian society. While common-law couples may not have solemnized their relationship through marriage, that does not mean that they do not need to consider each other when developing a financial...
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When I was a young boy living on the more rural outskirts of Chilliwack, BC, my brother and I would often go over to our cousin’s place just up the road and sleep outside overnight. This was in the summertime, of course. We would look...
Read MoreManaging our personal finances involves a few mathematical calculations. When we buy a Guaranteed Investment Certificate (GIC), we are told, for example, that we will receive 5% per year, compounded over five years. If we deposit $5,000 into that GIC, how much will we receive?...
Read MoreAre you looking for New Years Resolutions? If your ideas involve financial concerns, you have come to the right place. Below are nine different options to consider for 2023. All will require a bit of work to accomplish, but equally, all will leave you in...
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If you have worked in Canada, you will have contributed to the Canada (or Quebec) Pension Plan (CPP/QPP) and will be eligible to receive regular monthly payments from the plan as early as age 60. If you have been a resident of Canada for at...
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In the wake of the re-opening of the economy following the COVID-19 lockdown, inflation was inevitable. Despite the low levels of unemployment, many Canadians are finding that their income is not keeping up with their expenses. Nevertheless, the desire to engage in gift-giving during this...
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Each year the month of November is designated as Financial Literacy Month. I like to think that each blog post that I write adds to the financial literacy of my readers, but there is something to be said for a special focus on bringing up...
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