Strength in the Canadian dollar relative to the U.S. greenback has benefited travellers heading south for a vacation. Apart from a cheaper holiday, many Canadians are seeing the fall out from a strengthening loonie. Exports are becoming more expensive and affecting many industries. Some reports also state that tourism levels are dropping as vacations to […]
There are no age limits for Registered Eductation Savings Plans. RESPs are often set up by adjult subscribers for the benefit of usual children or grandchildren. But adults can name themselves as the subscriber and beneficiary. It is more common for individuals to change careers as a result of displacement or a desire to do […]
The Cost of Raising a Child The greatest cost in raising children may potentially be the cost of education. There are several ways to fund a child’s post secondary education. One way might be to anticipate that a child will receive scholarships or use student loans, while other parents may decide to pay as they […]
What is an RESP? Registered Education Savings Plans are registered accounts that enable you to make contributions now towards the cost of future education. Unlike an RRSP, your contributions are not tax deductible. Investments within an RESP have the potential to grow and income is tax-sheltered until paid out to the beneficiary. RESPs may be […]
Ultimately everyone is responsible for their own financial well-being. If you are one of the many individuals who choose not to take an active role in their finances for lack of time or interest, it’s important to acquire enough knowledge to determine whether the advisor you have entrusted is doing – at a very minimum […]
Selecting a Financial Advisor Choosing a financial institution and advisor has become an increasingly difficult decision for many individuals to make. Finding the right advisor was not always this complicated. Prior to the deregulation of the financial services industry in the early eighties, there were four distinct business units: banking, trusts, insurance and investment dealers. […]
The words diversification and investments go hand-in-hand. The term diversification generally refers to owning a number of different investments. Investors should generally diversify by asset class, sector, geography and capitalization. Some investors may feel they are diversifying their holdings by having investment accounts at several financial institutions. In our opinion, diversifying between financial institutions is […]
Do you need a Financial Advisor? There used to be a time when investors who wanted to purchase stocks and mutual funds had only one way to go – through a financial advisor. But since 1984, when Toronto Dominion launched its discount brokerage services have appeared allowing individuals to choose to continue working with an […]
Registering your investments Investments and shares generally need to be registered in either the name of their beneficial owner or registered under the name of a nominee. Most new investment accounts that are being opened today have the individual securities being registered in nominee name. Registered In Client Name More common in the past, investors […]
Individuals may hold their personal mortgage as an investment within an RRSP in the same way as your RRSP can hold GICs, stocks and mutual funds. This allows the homeowner to pay themselves interest on their mortgage. Holding your personal mortgage within an RRSP may be one way to eliminate the frustrating conflict of making […]
