A reader emailed in the following question and I thought I would share my answer with everyone: Question My question is specific to my situation obviously, but could apply to anyone in their 30s who’s changed jobs a few times and now has multiple RRSPs. The first RRSP is a mutual fund group plan left [...]
Should You Cut Your Children's Allowance in a Recession?
I suppose a better way to frame that question is: Should you cut your children’s allowance in a recession even if your income may not have been affected? I’m looking for opinions and comments on this because I don’t know the right answer, but I’m inclined to think that depending on the age of your [...]
Bear market = More insurance sales
Most financial advisors work on commission. When investment sales are down, advisors often turn to talking about insurance – the in-house sales and marketing material often talk about various strategies involving life insurance, critical illness insurance, disability insurance and long term care insurance. Insurance policies pay surprisingly large commissions. For example, a simple term insurance [...]
The Credit Crises Explained For Beginners
My brother found this link and shared it with me, so in turn I thought I would share it with you. This is a 10 minute video (embedded below) that attempts to explain the crisis of credit from absolute scratch. It does a fairly good job and is certainly worth a view. Enjoy! The Crisis [...]
Fee-Only Based on Net Worth, not Portfolio Size
I can see that the recent posts on fee-based versus fee-only are generating some comments (both on this blog and on Jonathan Chevreau’s). Just to add a little spice to the mix: did you know that some fee-only planners charge a fee based not on investment portfolio size, but instead by net worth in total? [...]
Fee-Only versus Fee-Based… Continued
Below is an excerpt from an email I received from a financial advisor who regularly reads this blog. His comments were in reference to last week’s post which highlighted a few sources for finding a fee-only investment advisor or financial planner: Regarding fee-only advisors, I really hope you will highlight Jonathan Chevreau’s comments which were [...]
Where To Find A Fee-Only Financial Planner
I had a reader send in an email a few weeks ago looking for some specific financial planning advice. We actually chatted on the phone and we decided that perhaps she might want to consider working with a financial planner that works by the hour. As such, here are a few resources that one might [...]
How Much Of An RESP Should Be Invested In Fixed Income?
With all the suggestions for topics to write about (as part of last week’s contest), I thought I should start putting a dent into some of them. Invariably, I won’t get to answer all of them in a timely fashion but I’ll do my best. One question came from DJ, who asked: Do you have [...]
Book Giveaway #3: New Rules of Retirement by Warren MacKenzie and Ken Hawkins
Today’s review and giveaway is on the book “New Rules of Retirement” by Warren MacKenzie and Ken Hawkins. There are a couple of very favourable reviews on the internet already from Canadian Capitalist and Four Pillars – please check out what they had to say. I can’t imagine adding more to the aforementioned reviews other [...]
$700,000,000,000
A person earning $35,000 per year would need 20 million years to earn $700 Billion. $700 Billion would effectively wipe out Canada’s national debt (and then some). $700 Billion could provide universal healthcare in the US for those without coverage (most). $700 Billion is more than the cost of the Vietnam war. $700 Billion would [...]
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