DRIP-ping Your Way to Wealth(?)

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...

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Understanding the Time Value of Money

Managing 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?...

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Are You Financially Literate?

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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What Does it Take to Become Wealthy?

The word “wealth” may throw off the average Canadian. Sure, many Canadians want to become rich, by which they mean, they want to have a lot of money. However, I think that most Canadians have more modest expectations. Something like, “I want to afford a...

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