The Unexpected Problem The RRSP (Registered Retirement Savings Plan) has long been considered a cornerstone of Canadian retirement savings. It offers tax deductions now, tax-deferred growth, and (presumably) lower taxes in retirement. It's often described as a “no-brainer” for Canadians who want to retire comfortably. On the...
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It should be understood that investing can be challenging. In this case, I’m not talking about the process of investing, the purchase of a mutual fund or Exchange-Traded Fund (ETF). Rather, I am referring to the uncertainty, the inevitable fluctuations in the prices of the...
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The Income and Wealth Gap The Context An unattached Canadian is a person not in an “economic family,” that is, a person living either alone or with others to whom he or she is unrelated, such as roommates or a lodger. Unattached Canadians are a growing demographic...
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Matthew and Nicole, both 35, are eager to start a family next year. They’re financially comfortable, with a combined gross income averaging $240,000—but there’s a twist. Matthew’s income fluctuates based on bonuses and sales revenue, leaving them with somewhat unpredictable income. On top of that,...
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“A million dollars isn’t what it used to be.” Even with low inflation that saying is true. Depending on where you live, your home may easily be worth over a million dollars. To my surprise, there are over three hundred $1,000,000+ listings within the city...
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I follow a few Facebook pages that have to do with personal finance, retirement, etc. In a post, a man I’ll call Alan is 35 years old and has recently received a $100,000 inheritance that he hopes to use to build up his retirement savings....
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It was a typical Saturday morning at the local diner, where Lee, John, Dave, and Bob gathered for their usual breakfast and discussion about investments and the economy. This weekend, the hot topic was the recent decision by the Bank of Canada to reduce the...
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Bank reputations are “in the toilet” The recent CBC Marketplace story on the sales culture inside the banks has proven to be a cautionary tale when it comes to using the banks for transacting in your financial business. As for the topic of this blog post,...
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Introduction Concrete financial milestones can serve as checkpoints on your path to financial stability. From paying off student loans to leaving a financial legacy for the next generation or a charity, each milestone represents a significant achievement along your financial journey. In this blog post, I...
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Meet John and Jane Jane and John are a couple in their early thirties. They own a townhouse in a suburb outside of Toronto. Although the commute is a bit of a burden, their jobs as an architect and software developer, respectively, allow them to work...
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