Financial Library

Insuring Your Mortgage Through Lenders

Posted on April 11, 2016

Marc and Lorna just bought a house and, like most home buyers, they needed a mortgage. During the financing process, they were offered mortgage insurance by the lender. They wanted to know more before taking the coverage.

Do we control the policy? Because the coverage is usually a group plan, the agreement is actually between the lender and the insurance company. Marc and Lorna would be insured under the policy and pay the premiums, but the lender would be the beneficiary and receive all proceeds on death.

Tags: 
insurance

Consumer Impact of Low Interest Rates

Posted on March 7, 2016

While the Bank of Canada publicly muses about adopting negative interest rates on Government Bonds as a policy tool to stimulate economic growth, the Bank of Japan recently cut its benchmark interest rate below zero, joining several others including the European Central Bank in the negative interest rate club. According to the February 6th issue of The Economist, almost one quarter of the world’s GDP now comes from countries with negative interest rates.

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interest
interest rates

9 Ways to Destroy Wealth

Posted on March 7, 2016

Taking the time and effort to manage your money better is certain to pay dividends in the future. By following the rules of careful money management, it is possible to cut out wasteful outgoings and increase savings, which can mean being $1,000s better off each year. Any of these extra savings can be put aside or spent on your next vacation, car, or even used towards your pension.

Read on to learn about the nine things (in reverse order) that are highly likely to have a negative impact on your personal wealth:

Tags: 
asset wealth
saving strategies
savings

Traveling in Retirement

Posted on March 7, 2016

One of the top retirement goals for many is travel. As many as 1.5 million so called "snowbirds" travel to the Southern United States during the winter. With summer just around the corner, thoughts turn to travel within our borders, too. The Canada Safety Council states that a few simple precautions can help ensure a safe, healthy and enjoyable trip any time of the year.

Tags: 
retirement planning

Investing Like the Rich Do

Posted on February 8, 2016

"Everyone has a plan until they get punched in the face."
George Foreman.

With RRSP season upon us, it might be useful to see how the wealthy invest their funds for some indication as to how they differ from average Canadians. As Baron Rothschild famously stated, “The time to buy is when there's blood in the streets…”, and so do the wealthy, even in difficult times. In other words, they are contrarian investors who do the opposite of what everyone else does, which is a lesson that all investors can profit from.

Tags: 
investment planning
investments

Strategies to Enhance Your RRSPs

Posted on February 8, 2016

Since their introduction in 1957 as an incentive to save for retirement, Registered Retirement Savings Plans (RRSPs) have evolved into the most popular savings vehicles in Canada. All too often, though, RRSP decisions are made in a panic to meet a deadline, with little or no planning or understanding of the effects of our actions.

Here are a few top strategies to help you get the most from your RRSP and retirement plans:

Tags: 
rrsp
savings

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