Entries by Terry Greenard

Emails – the good, the bad, and the fraud

The Canadian Radio-Television and Telecommunications Commission ­ or CRTC ­ has the authority to administer the Telecommunications Act, including the National Do Not Call List (DNCL). Effective July 1, 2014, Canada’s Anti-Spam Legislation (CASL) will also be administered by the CRTC.  The DNCL and CASL are intended to protect the public from unwanted communications, including […]

Investments for retirement income key

Fewer Canadians can count on large defined-benefit pensions or fat nest eggs  The Investment Industry Association of Canada (IIAC) issued a report on March 18, 2014 titled “Canada’s Investment Industry:  Protecting Senior Investors.”  The report noted the challenge of defining who is a senior.  Rather than picking a specific age, the IIAC used the term […]

Research ETFs before you buy

Exchange Traded Funds (ETFs) have become one of the fastest-growing areas of the financial market.   “Index Shares” is another similar term and many advisors use these terms inter-changeably.  Investors can participate in a broad variety of investment opportunities using ETFs.  The original ETFs differed from traditional actively managed mutual funds as these are passive products.  […]

On having enough financial resources through retirement

Balancing living for today and not running out of money in retirement is perhaps the greatest financial challenge most people face.  Even financially well-off people wonder if they have enough for retirement. In past decades, people with limited resources have received assistance through government funded programs, including subsidized residential care and extended care.  There is […]

Portfolio manager can act for clients more quickly than traditional adviser

Over the years, I have had great discussions with people about financial decision-making. It is tough for most people to make decisions on something they don’t feel informed about.  Even when you are informed, investment decisions can be challenging. When you work with a financial advisor, you have another person to discuss your options with. In the […]

Another good reason to have an accountant – Rules change on foreign reporting

In 1997, the Canada Revenue Agency (CRA) proposed changes on how foreign property is reported. In 1998, CRA introduced the reporting of certain foreign property by requiring all Canadian tax filers to answer, “Did you own or hold foreign property at any time in 1998 with a total cost of more than CAN $100,000?” If […]

Benefits to early conversion of RRSP to RRIF

The Registered Retirement Savings Plan (RRSP) is for “saving.”   This savings and tax deferral within an RRSP can continue until the age of 71.  In the year you turn 71, you have to either close your RRSP by either taking the money out, purchasing an annuity or transferring it to a Registered Retirement Income Fund […]

As tax time looms, it’s prudent to get your plan in place

This time of year you should be talking with your financial advisor about where to put your hard earned money.  Will you contribute to an RRSP or pay down debt?  Or should you do both by contributing to an RRSP and using the tax savings to pare debt? Contributing to an RRSP should be done with […]

Fee-based accounts benefit investors in the long run

A fee-based account is a tranparent way of paying your financial advisor.  The fee is charged based on the market value of the assets being managed, and it is distinctly different than a transactional account, where commissions are charged for every buy-and-sell transaction.  When clients open up a fee-based account, they sign a fee-based agreement that […]