You are careful with your money. You have made it a general rule to avoid debt – except for the mortgage on your home – in order to force yourself to live within your means. Well, you do use a credit card, but you have...
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An Introduction to Tax Planning – Part 1 Financial Planning and Taxation As much as we might like to deny it, taxation is an integral part of financial planning. Indeed, taxation can often be a Canadian household’s biggest single expense. Think about all the areas in life...
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An Introduction to Insurance and Risk Management – Part 8.2 In my last post, I wrote about Assuris, a body that insures you against the insolvency of a life insurance company. This post has to do with insuring against the insolvency of banks and credit unions. CANADA...
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Introduction to Investment Planning – Part 1 People often use the terms savings and investments as though they mean the same thing. This makes sense because generally speaking you cannot invest unless you have money to invest. You cannot have money to invest unless you have...
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An Introduction to Registered Plans – Part 1 What is a Registered Retirement Savings Plan? An RRSP is an individual account that has been registered with the Canada Revenue Agency (CRA). Because it is registered, allowable contributions are tax-deductible if they are contributed in the year or...
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