Canadian 30 Year Olds are Screwed

I’m a Chartered Accountant and financial planner. For the last five years, I have helped dozens of 28 to 40 year old individuals and couples plan their finances. Despite the title, I am writing this article because I am worried about them all – I’m afraid they are headed down a road of financial disaster that could ruin them for life. Read More »

What are the benefits of a tax free account (TFSA)?

The Tax-Free Savings Account is just like an RRSP in one respect and gains compound tax-free while they’re in the plan.

It’s different in two ways: First, there is no tax deduction for putting money into a TFSA, as there is in an RRSP. “With a TFSA, the money invested is after-tax money,” says the advisory. “With an RRSP it’s pre-tax money that you are investing.” Read More »

4 advices to help you quit your job sooner

When the work blues hit, retirement seems so far away. But while nothing short of winning the lottery or getting a big inheritance is likely to let you quit tomorrow, there are many things you can do to reach your goals a little faster.

So if you’re looking for ways to accelerate your retirement, here’s how you can move the date of your retirement party up a few years: Read More »

The 45 best ways to grow your money

When we set out to look for the 45 best ways to grow your money, we had a few criteria in mind. We wanted ideas that were widely applicable (so we weren’t interested in specialized tax shelters or tax loopholes that were only open to a favored few). We also wanted ideas that had stood the test of time (so we rejected a lot of flavor-of-the-month notions, such as buying gold futures or loading up on oil stocks). Finally, we wanted our ideas to represent the full span of personal finance, from basic notions to more advanced concepts. Read More »

10 things they won’t tell you about retirement

If you’re like many middle-aged Canadians,you used to think that you would retire at 55. Now you’re hoping for 65. Once you used to smile fondly at the retirement ads that showed laughing grey-haired couples golfing in tropical paradises. Now you have an overwhelming desire to jump out of the sand trap and smack those smug retirees with a nine iron. Read More »

The First Thing You Should Do in 2009

Now that 2008 is behind us, you should focus on how to improve your investing results for 2009 and beyond. In order to get off on the right foot, you’ve got to make sure you have as much in the game as possible. Read More »