3 Steps to saving simply! Many of my clients know they should be saving more but traditional canadian banks can actively work against them; high banking fees, low interest rates, and expensive mutual funds all add up and will cost you tens of thousands of dollars in the long run. Here is a simple strategy
What if you never buy a house? As a money coach I have many clients that believe owning a home is a prerequisite to retiring, either to live in "rent free" or to eventually downsize and use the profit to support your lifestyle. For the many people who feel priced out of the housing market I thought
Considerations for Retirement As I transitioned from simply managing my own finances to helping other with their financial planning I have had the opportunity to see finances through the eyes of many people. While I am a ways from retirement I have observed some common misconceptions or oversights that people have. Getting a
optimization Considering Opportunity Cost My goal in life is to be happy and money is one of many tools that allows me and my family to do the things that bring us happiness. I am going to go over some of the many things you can do today that will set you up for
rrsp RRSP is a TFSA in disguise The RRSP seems like this complex investment vehicle with all these rules and restrictions but with a couple caviets it offers essentially the same tax free growth that a TFSA does albeit with a couple gotchas. How the TFSA and RRSP work.Before I can explain how a RRSP is
guide How to manage an emergency fund An emergency fund is an amount of money that you have immediately available for large unexpected costs and/or unexpected periods of reduced income. Many folks consider emergency cash a vital piece of anybodies portfolio and while that may be true there is also a cost to consider! For a
guide TFSA or RRSP or Unregistered Investing Not everyone can max out their registered accounts every year but with record high savings rates during COVID Canadas average savings rate is between 5-15%, so which accounts should you prioritize? tldr;If any of the following apply you may want to prioritize your TFSA You are nervous about using
guide Self-directed Investing in 5 steps DIY is one of the best ways to save money, changing your own oil, bagged lunches, mowing your lawn, shoveling your laneway; but self directed investing will save more than pretty much any of these things combined. A few hours of work can result in hundreds of thousands of dollars
review Lifecycle Investing: Leveraged Passive Investing As I was researching how you could use leverage with a passive investing strategy I found the book "Lifecycle Investing" by Ian Aryes and Barry Nalebuff. It details how using leverage can actually reduce your portfolio risk while improving your chance of retiring successfully. I read through it and wanted
optimization Avoid minimum balances Most big banks have fees but the reality is that many will waive those fees if you keep a minimum balance in the account, while this sounds like a deal you may be better off paying the fee! For a free $20 sign-up bonus and the best HISA in Cananda
guide Get your tax refund early Getting a big tax refund means you paid too much money to the government, these funds could have been in your investment account growing but weren’t. Big refunds can cost you 10's of thousands in the long run but thankfully there is a simple way you can begin getting
rrsp Reduce fees on index funds "All-in-one" index funds (AIO) have become extremely popular recently as they make it dead simple to have a globally diversified portfolio that matches your needs for an affordable price. But for those interested in working a little bit you can save thousands or even tens of thousands of dollars in
Mortgage What is the First Time Home Buyers Incentive The "First time home buyers incentive" (FTHBI) is often confused with the "Home Buyers Plan" (HBP) but they could not be more different. To find out about the HBP check out this. What is the Home Buyers PlanThere is alot of confusion on what incentives are available to home buyers.
Mortgage What is the Home Buyers Plan There is alot of confusion on what incentives are available to home buyers. One of the most powerful tools for Canadians is the "Home Buyers Plan" (HBP). What is it?The HBP allows eligible Canadians who are buying a home the option to loan yourself up to $35,000 from
guide What to do when you fill your RRSP and TFSA So your have been a diligent Canadian and have worked hard and saved agressively to max out your registered accounts, now what do you do? 1. Unregistered investment accountStart an unregistered investment account which will allow you to continue to invest and take advantage of things like "Tax Loss Harvesting"
guide What is an RRSP? If you Canadian the “Registered Retirement Savings Plan” RRSP is a vital investment vehicle, while it may not be quite as valuable as your TFSA it can reduce the amount of taxes you pay and increase your savings in retirement if used properly. Why use an RRSP?The RRSP allows
guide How to make $500,000 with your TFSA How to using the TFSA can upgrade your retirement drastically?
guide What are All-in-one index funds Your bank is probably evil and so is mine. Any of the big banks in Canada (and even the smaller ones) push their own mutual funds on financially ignorant individuals and get them to pay exorbitant fees that are up to 1000% higher (over 10 times) then index funds and
guide What is a TFSA? If your a Canadian that is 18 years of age or older your most important investment vehicle is the “Tax Free Savings Account” or TFSA for short. As the name implies this registered account allows you to deposit money and invest it completely tax free which can save you hundreds
guide Wealthsimple vs Questrade 2021 In the world of retail investing and saving, Wealthsimple and Questrade have poured millions of dollars into advertising this past year to get you thinking about them. They advertise their robo-advisors, low fees, and better returns than the big banks but which of them is better? Wealthsimple Trade and InvestThere
