Entries by Terry Greenard

RESP 101 – It pays to gain RESP education

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 […]

Advisor choice not easy

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. […]

Diversification a key component

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 […]

Mortgages: Pay Yourself

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 […]

Strategies of Reverse Mortgage

What are the options for retired people that become house rich and cash poor?  Our last column touched on one simple strategy that we really like – deferring property taxes.  Another strategy that people have asked us about are reverse mortgages.  What are reverse mortgages and when do they make sense? Reverse mortgages are residential […]