Personal Finance
Personal Finance 0

Financial Checklist For Canadians in 2019

Posted on 18 April 2019

he first month of the year is a good time to start planning your finances and taking charge of your money. Waiting till the end of the year before implementing your savings and investing plans means that you have allowed 12 months to go by without utilizing compound interest to your advantage. Financial Steps To Take in 2019 As you move to implement your Ne ...

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The ins and outs of tax and estate planning for a RRIF

Posted on 18 April 2019

Q: I’m 81, single, female, with around $265,000 in a RRIF (invested in two different financial institutions, both mutual funds).  My withdrawal is about $12,000 a year. How can I minimize tax payable (by my beneficiaries) at death? — Lydia A: The tax savings and deferral from contributing to a Registered Retirement ...

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What to do when financial advisors don’t live up to their promises

Posted on 18 April 2019

Q. My husband and I had a combined investment portfolio of about $750,000. We agreed to a 0.75% fee to our advisor, which amounted to $5,600 last year. Despite that cost, our portfolio is now worth $732,120. This advisor claimed that 4% was his expected gain for us, and he has fallen far short. Any advice would be appreciated. Dana A.

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How will a pension buyback impact your income tax return?

Posted on 18 April 2019

Q. I plan to do a pension buyback for my service with the Government of Canada. Can I deduct the lump sum payment from my total income if I fully pay the amount at once? And will the total income reported on my T4 be reduced if I choose to deduct a certain amount from each pay stub? Looking forward to your reply. Thank you.
— Alice A.

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Top 10 Largest Banks In The World By Total Assets

Posted on 03 April 2019

Banking institutions are an integral part of the world economy. They have been around for centuries, and will probably be here for a long time. Here we take a look at the top 10 largest banks in the world. The ranking is based on data from S&P Global Intelligence, which publishes a report on global banking and financial services every year, ranking the world’s 100 largest ban ...

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High school students with financial issues can turn those woes into cash with essay-writing contest

Posted on 03 April 2019

What was the dumbest thing you ever did with your money? Fessing up to their moronic money moves in an essay contest has earned hundreds of Canadian students big bucks. The contest for Grade 12 students is held every fall during Credit Education Week Canada. Credit Canada Debt Solutions and Capital One partner with other sponsors to award university scholarships to writers who best o ...

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Could you be missing out on benefit payments?

Posted on 31 March 2019

(NC) Benefit payments can make a huge difference in your life. Having a regular source of income can relieve some of your day-to-day stress and help you and your family live a better life. Now that it’s tax time, here are some tips to help you make sure you’re getting the benefits and credits you’re entitled to: If you have children under 18 in your care, you could get ...

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Tips on teaching children how to save money

Posted on 09 March 2019

Teaching children how to save from an early age is an important lesson for their long-term financial wellbeing, but there’s more to saving schemes than just money, says Ann Francis. We all like to spoil our children from time to time but when does it become too much of a good thing? In reality encouraging youngsters to save their money is far more beneficial than showing t ...

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4 Tips for Choosing a Tax Preparer This Year

Posted on 09 March 2019

Even if you've managed to file your own taxes before, there are several benefits to hiring a tax preparer to do the job for you. First, there's the peace-of-mind factor. A professional who does taxes for a living is more likely to catch a mistake on your return or avoid one in the first place, thereby lowering your risk of an audit. Furthermore, a tax preparer might unearth different s ...

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Money Girl on Personal Finance

Posted on 09 March 2019

In this episode of MarketFoolery, host Chris Hill sits down for an interview with award-winning writer and personal finance expert Laura Adams. Adams reflects on what led her down the personal finance advocacy path; the early, early, early days of podcasting back in the mid-2000s; what college kids these days ask her when she talks at universities; the most a ...