• How marijuana legalization will change the U.S. border for Canadians

    This will cause a lot of trouble, to say the least. Crossing the border has always been a tense experience. For the thousands of Canadians who will be joining the legalized cannabis industry, it’s going to become even more harrowing.
    Even though cannabis has been legalized for recreational or medical use in 30 U.S. states, the federal government still views it as a controlled substance. American border guards have immense latitude over who they let enter the country. If you’re not a
  • How to help a parent invest in their 80s

    Q: My elderly mother, 83, just sold the family home for $300,000. The bank seems to advise her to buy expensive financial products not best suited to my mother’s stage of life.
    What should she do with the proceeds from the sale of her home? As she is not able to make financial decisions on her own, I’d like to have an idea BEFORE I go to the bank with her as to what would be the best solution for the money.
    —Beth
    A: You’re in a common position, Beth, advising an aging par
  • What’s the safest, most tax-efficient way for Jim to invest $500,000?

    Q. I have $500,000 coming to me soon from a property sale and am looking for the best fixed-income product to invest in. I have no immediate use for these funds but I’m hoping it can be tax efficient too. Any suggestions? Thanks, Jim
    A. Fixed income is tough these days Jim, which I’m sure is why you asked the question. Are you looking for safe fixed income or risky fixed income? I’ll guess safe, but let’s work down the list.
    Consider a Guaranteed Income Certificate (GIC)
  • Which ETFs make sense for an 18-year-old starting a TFSA?

    Q: My daughter, Alie, turns 18 this year and I plan to have her open a TFSA so she can start to invest. Our agreement is that we will match whatever she puts in her TFSA annually for at least the next 20 years, hoping this encourages her to save as she gets older. Should she be looking at an aggressive portfolio of low-fee ETFs? I would prefer that she manage her own portfolio so she develops an interest in investing and building up her savings. Any recommendations would be appreciated.
    &md
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  • A $130,000 TFSA pumped high on energy and weed stocks

    Scott Todd
    Age: 26Location: CalgaryTFSA value: $130,248Strategy: Contrarian growth with some value investing
    Scott Todd is 26 years old and has been working full-time in the energy sector in Alberta for three years. During that time, he contributed $52,500 to his TFSA and has built it up to a whopping $130,248—all through active stock picking. “I read the Motley Fool website (www.fool.com) as well as MoneySense and have created my own TFSA stock portfolio of 12 stocks,” says Sc
  • What can go wrong if your will executor lives abroad

    Q: I previously had named my two children as co-executors of my will. My eldest child has since moved to the United States. Will this make management of my will more difficult in any way other than in location? Do both executors have to sign all documentation or is there a wording that can be made in the will to adjust this?
    —Jay G.
    A: Dear Jay, you want both of your adult children to be your executors. Is this a good idea? One executor is a non-resident who lives in th
  • Can Nolan and Theresa pay off their debt and retire at 56?

    Nolan B., 38, and his wife Theresa, 39, live in Saskatoon, Sask. They have a 12-year-old son, Ryan. Nolan earns $95,000 a year (plus a potential 13% bonus if certain performance targets are met) while Theresa earns $57,000 annually. Nolan works as a manager for the federal government while Theresa works for the provincial government of Saskatchewan. “We are aiming to retire at age 56 but with our high mortgage and debt load we aren’t sure we can do it,” says Nolan. “We wa
  • 8 DIY investment pitfalls

    MORE ABOUT YOU AND YOUR ADVISOR:Why Canadians invest too much at home
    How a young couple can kill $142,000 in debt and start investing
    How to retire at 55 with $586,000
    Making it all workThe post 8 DIY investment pitfalls appeared first on MoneySense.
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  • Why Canadians invest too much at home

    Rona Birenbaum has reviewed plenty of portfolios during her career as a financial advisor, and there’s one issue that pops up time and time again: Canadians are too invested in the Canadian stock market. “In this day and age, for me to still see that, I can’t help but shake my head,” says the Toronto-based CFP with Caring for Clients.
    Having a high allocation to domestic stocks is understandable. We’re familiar with many of the companies here, and it makes sense to
  • Unpaid OSAP loans can haunt your credit for years

    Q. I defaulted on a student loan over 20 years ago.  However, I eventually reached a settlement with the collection agency by borrowing money from my parents. In the past 20 years, I have tried to make a go of it by being an independent music promoter and having a few part-time jobs and some social assistance. Now that I have matured I realize the importance of having an education and a trade in order to have a stable life and a family. I have enrolled in a trade program with a registered C
  • Class action lawsuit filed against CIBC for trailing commissions

    TORONTO — A class action lawsuit regarding trailing commissions paid to discount brokers on CIBC mutual funds has been proposed against the Canadian Imperial Bank of Commerce and CIBC Trust Corp.
    The lawsuit alleges investors who hold the mutual funds in discount brokerages receive no value for the trailing commissions paid.
    READ: How to choose a discount brokerage
    The allegations have not been proven in court.
    The case filed by Siskinds LLP and Bates Barristers PC seeks compensation
  • Tax withholding on RRIF withdrawals

    Q: I am a widower, 80 years old, and I am being taxed about 30% on RRSP withdrawals. Can you suggest a better plan? I also have some TFSAs.
    —Bob
    A: Just to clarify for the other readers, Bob, your Registered Retirement Savings Plan (RRSP) withdrawals are no doubt coming out of a Registered Retirement Income Fund (RRIF) given your age. You can’t have an RRSP after the age of 71, and the majority of RRSP holders convert their RRSPs to a RRIF by that point.
    Ask a Planner: Leave your que
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  • TREB to allow realtors to post GTA home sales data on Tuesday at noon

    TORONTO — The Toronto Real Estate Board says real estate companies can post Greater Toronto Area home sales data on their password-protected websites today at noon.
    TREB chief executive John DiMichele says the data can only be posted on such sites to provide residential real estate brokerage services.
    READ: Why buying and selling homes in the GTA is about to get easier
    The board will not allow the data to be scraped, mined, sold, resold, licensed, reorganized or monetized in any way.
  • Net worth is rising but higher debt stings Canadians

    Environics Analytics says rising housing prices are inflating the net worth of the average Canadian, but higher interest rates and debt are putting pressure on discretionary spending.
    In a new analysis, it says Canadians overall paid about $9 billion more in interest charges in 2017 than they did in 2016.
    The research firm estimates the average Canadian’s net worth rose by 8.5 per cent to almost $808,000 in 2017, but much of that wealth was tied up in assets that are difficult to cash in,
  • What the financial crisis taught these five fund managers

    It’s hard to believe it’s been a decade since Lehman Brothers collapsed and the beginning of the financial crisis. While the downturn was, in hindsight, short-lived—markets dropped for nearly six months, while stocks have been rising more than nine years—it was an incredibly difficult time for investors of all stripes. To mark the one-year anniversary of the Lehman Brothers bankruptcy—it went under on September 15, 2008—we asked five Canadian money managers ab
  • What the financial crisis taught five fund managers

    It’s hard to believe it’s been a decade since Lehman Brothers collapsed and the beginning of the financial crisis. While the downturn was, in hindsight, short-lived—markets dropped for nearly six months, while stocks have been rising more than nine years—it was an incredibly difficult time for investors of all stripes. To mark the one-year anniversary of the Lehman Brothers bankruptcy—it went under on September 15, 2008—we asked five Canadian money managers ab
  • Playing defence during a stock market crisis

    Originally published in December, 2008. Prescient advice for investors who lost a bundle over the previous two months—and some good reminders for how to react during the next crisis. While the market wouldn’t bottom until March 9, 2009, Canadians would have done well if they listened to the advice in this piece. (IYH, by the way, is up 324% since this story was written.)  
    Imagine walking into your favourite store to discover that all the things you wanted to buy were
  • One simple question to ask when seeking financial advice

    (Excerpted from Stop paying hidden investment fees! by Dean Kendall.)
    Chapter 1: Who is Giving you Advice and What are their motives?
    What would you call a person whose job it is to sell products on which they make a commission? If you said “Sales Person” you would be correct. It might say “Wealth Manager” or “Financial Advisor” or even “Trusted Advisor” on their business card, but you must learn to ignore their titles and the “bran
  • Is investing 100% in an S&P 500 ETF smart?

     Q: My friend recently said that I should dump all my Canadian and international ETFs, and invest instead in an S&P 500 ETF for my Couch Potato portfolio. I was worried that holding only U.S. stocks wasn’t diversified enough, but his answer is that the S&P 500 is geographically diversified because it’s full of multinational corporations. Since the S&P 500 performs so much better in the long run than Canadian or international markets, I’m tempted to follow
  • Is investing 100% in an S&P 500 ETF a good idea?

     Q: My friend recently said that I should dump all my Canadian and international ETFs, and invest instead in an S&P 500 ETF for my Couch Potato portfolio. I was worried that holding only U.S. stocks wasn’t diversified enough, but his answer is that the S&P 500 is geographically diversified because it’s full of multinational corporations. Since the S&P 500 performs so much better in the long run than Canadian or international markets, I’m tempted to follow
  • Best investment strategies for newcomers to Canada

    Q: I will be immigrating to Canada in November with my spouse and three children, and I need advice on the investment opportunities a new immigrant can take advantage of. We have done a budget of our landing costs and have realized that we have an excess of $10,000 CAD outside the cost of living expenses for six months.
    We want to begin long-term investing from day one and we have considered the following options;Open a TFSA and invest in index funds
    Open an RRSP and invest in index funds
    O
  • How I turned my coin collection into an investment for my kids’ future

    Vanessa Szabo, 37, Vancouver, B.C.
    I’ve always been interested in investing—though not necessarily through the common method of stocks and bonds. Living in Vancouver with my two kids—Colton, 10 and Ava, 9—I’ve always tended to do things away from the mainstream, including homeschooling my kids since they were toddlers. Over the years I’ve tried to make stock market investments but the volatility, as well since my low risk tolerance made investing in secur
  • Should you buy real estate just to stay in the market?

    Q: I just sold an estate home in the Greater Toronto Area very recently and decided to rent for two years in a smaller community two hours north.
    Should I buy any real estate to remain in the market at age 74?
    —Dee
    A: Assuming this is an inheritance, Dee, I’ll give you the same advice I give to anyone who has a significant financial event in their lives: don’t rush to do something. I find whether it’s the death of a spouse, an inheritance, a business sale, etc.,
  • Should you act on a friend’s stock tip?

    Every so often, on a group text chat I have with a couple of friends, one friend will throw out a stock tip to the other. I mostly chuckle silently and wait until they ask me what I think, to which I usually say I have no idea, I invest in ETFs. This week’s WhatsApp version of Mad Money, though, got me thinking – what should people do when their friend says they bought a stock they think is going to go way up? And what if my friend’s idea is a good one?
    His big buy this we
  • Tips for DIY investors on beating the Big Five banks

    If it’s true the best game wardens are reformed poachers, then Larry Bates’ tips for beating the big Canadian banks should be invaluable for many average Canadian investors. Bates spent 35 years working for the four major financial pillars and in his new book, Beat the Bank (Audey Press, 2018), the ex-banker lays out three wealth builders and three wealth destroyers.
    The wealth builders are the amount of money saved (capital), time in the market and rate of return. The three killers
  • The anatomy of investing bubbles

    Jake Moore, a fictional Wall Street trader played by actor Shia LaBeouf in the 2010 movie Wall Street: Money Never Sleeps, posed a question. “What is the definition of insanity?” he asked. “It’s doing the same thing over…and over, and expecting a different result. By that standard, most of us are insane, but not at the same time. On that basis we trust. But can this way of life endure, if more and more people are insane at the same time?”
    It becomes systemic&
  • How much to save and invest to cover inflation for 40 years

    Q: I’m pretty lucky to have a defined benefit pension from my employer. I will receive $60,000 annually from it in five years. Unfortunately, it will not be indexed. How can I calculate the amount of saving that I need before retirement to cover the inflation for 40 years? I want to keep the same power of buying.
    —Isa
    A: Isa, having a Defined Benefit (DB) pension is indeed lucky and with CPP and OAS that could be another possible $20,000 on top of that. You may no
  • GIC vs. aggregate bond ETF: Which is best for a retiree?

     Q: I am 73 years old, retired, and my portfolio is made up of short-term government bonds (40%), corporate bonds (20%), a preferred share ETF (30%), and the rest in GICs. Should I have a holding in an aggregate bond ETF at this stage, since short-term interest rates seem destined to go higher and this will affect my short-term bond portfolio?
    – Dali
    A: The Bank of Canada has now raised its key interest rate (called the target for the overnight rate) four times since July 20
  • 7 unique investing and finance blogs to follow

    These days, there are so many blogs out there for investors to follow that it’s difficult to sift through the noise and find valuable advice. I’ve put together a list of seven American investment blogs that I enjoy following and you might too. If you’re a DIY investor—or just interested in learning more about economics and investing—I suggest you give them a try. Here they are in no particular order
    The Big Picture
    By Barry Ritholtz. Ritholtz is the co-founder and c
  • Bank of Canada calls for nominations for the 2019 Fellowship Program awards

    The Bank of Canada is inviting Canadian universities to nominate exceptional academics for its 2019 Fellowship and Governor’s awards.
  • This week in personal finance: How regular investment creates financial success; should you increase equity holdings ... - Moneycontrol.com

    Moneycontrol.com
    This week in personal finance: How regular investment creates financial success; should you increase equity holdings ...
    Moneycontrol.com
    Investing and creating wealth is a long-term game for most common investors. As one earns, part of the regular income should be steadily set aside and invested in a systematic manner to create the corpus needed to meet various financial goals in life ...
  • New finance bill next week: Asad - DAWN.com

    DAWN.com
    New finance bill next week: Asad
    DAWN.com
    KARACHI: The government is set to table a finance bill in the next National Assembly session to curb the fiscal slide and gain a better grip on the economy next week, and hopes to make proposed measures effective by the start of October following ...
    Finance minister insists govt will not increase energy pricesThe Express Tribune
    Revised finance bill to be presented in Parliament next week: Asad UmarProfit by Pakistan Todayall 13 news articles&
  • BC government surplus rises as growth remains stable: finance minister - CTV News

    CTV News
    BC government surplus rises as growth remains stable: finance minister
    CTV News
    VICTORIA -- The British Columbia government is forecasting a growing budget surplus and economic growth that will lead Canada in the coming year despite dropping real estate tax revenues and declining property sales. The latest budget update released ...
    BC budget surplus rises by $450M as growth remains stable: finance ministerCBC.ca
    BC's surplus rises as growth remains stable: finance ministerVancouv
  • Trade Finance in Latin America 2018 - LatinFinance

    LatinFinance
    Trade Finance in Latin America 2018
    LatinFinance
    Good news, bad news. This is the current state of trade finance in Latin America as assessed by “The Changing Face of Trade Finance” panel held by LatinFinance on Friday. Before diagnosing the current challenges and potential solutions, the panel first ...
  • Trump Executives Face US Campaign-Finance Probe, Source Says - Bloomberg

    Bloomberg
    Trump Executives Face US Campaign-Finance Probe, Source Says
    Bloomberg
    Federal prosecutors in Manhattan are investigating whether anyone in the Trump Organization violated campaign-finance laws, in a follow-up to their conviction last month of Michael Cohen, according to a person familiar with the matter. The inquiry, not ...
    New York federal prosecutors are investigating whether Trump Organization executives broke campaign finance lawsBusiness Insider
    Trump Org officials probed
  • BC surplus rises as growth remains stable in province: finance minister - The Globe and Mail

    The Globe and Mail
    BC surplus rises as growth remains stable in province: finance minister
    The Globe and Mail
    Finance Minister Carole James is projecting a growing budget surplus and stable, but slower economic growth in her latest quarterly financial update. James says the former Liberal government's decision to rely on a speculative real estate market was ...
  • How to stretch your shilling - Daily Nation

    Daily Nation
    How to stretch your shilling
    Daily Nation
    It's a good time as any to revisit the topic of budgeting given the recent increase in fuel prices. This will not just affect our transport costs but will translate to other areas like electricity, food etc. Here are a couple of things we can do to ...
  • Finance firms warned over regaining trust - Otago Daily Times

    Otago Daily Times
    Finance firms warned over regaining trust
    Otago Daily Times
    Finance firms need to do what is right for the consumer, not just focus on staying inside the law, if they want to regain the trust of the public, the head of New Zealand's market's watchdog has warned. Speaking at the Financial Services Industry ...
  • In Finance, Workplace Friendships Take Longer To Form But Number Is Higher - ValueWalk

    ValueWalk
    In Finance, Workplace Friendships Take Longer To Form But Number Is Higher
    ValueWalk
    A new study by Olivet Nazarene University examined the dynamics of workplace relationships and found that most work friends never leave the confines of the office. Get The Timeless Reading eBook in PDF. Get the entire 10-part series on Timeless Reading ...and more »
  • Qatar eyes Germany's energy, finance sectors with 10 billion euro investment - Reuters

    Reuters
    Qatar eyes Germany's energy, finance sectors with 10 billion euro investment
    Reuters
    BERLIN (Reuters) - The Gulf state of Qatar said on Friday it would invest 10 billion euros (8.9 billion pounds) to strengthen its ties with Germany over the next five years, including the possible creation of a liquefied natural gas (LNG) terminal ...and more »
  • Orion Mine Finance Completes Acquisition of Dalradian Resources - Junior Mining Network

    Orion Mine Finance Completes Acquisition of Dalradian Resources
    Junior Mining Network
    Orion completes acquisition of Dalradian. TORONTO, Sept. 07, 2018 (GLOBE NEWSWIRE) -- Dalradian Resources Inc. (TSX: DNA/AIM: DALR) (“Dalradian” or the “Company”) and Orion Mine Finance (“Orion”) are pleased to announce the completion of the ...and more »
  • Content Aggregator's Finance Venture Sparks Concerns - Sixth Tone

    Sixth Tone
    Content Aggregator's Finance Venture Sparks Concerns
    Sixth Tone
    Amid China's online lending meltdown, a WeChat public account that specializes in banking-related news publicly called out news aggregator Jinri Toutiao for offering financial services without a proper license. In an open letter addressed to the China ...
  • Zimbabwe's Mnangagwa names ex-banker Mthuli Ncube finance minister - Reuters

    Reuters
    Zimbabwe's Mnangagwa names ex-banker Mthuli Ncube finance minister
    Reuters
    HARARE (Reuters) - Zimbabwean President Emmerson Mnangagwa on Friday appointed former banker Mthuli Ncube as finance minister and kept Winston Chitando in charge of mining, placing two technocrats at the helm of plans to rescue the country's ...
    Zimbabwe's Mnangagwa appoints technocrat finance ministerFinancial Times
    Mnangagwa names new Zim finance ministerCitizen
    Zimbabwe Mnangagwa names Mthuli Ncube as fin
  • How Blockchain Is Disrupting Enterprise Finance And Accounting Departments - CMSWire

    CMSWire
    How Blockchain Is Disrupting Enterprise Finance And Accounting Departments
    CMSWire
    If blockchain is disrupting enterprise digital strategies globally, in the future it will also disrupt enterprise departments and the way they go about their business. In fact, according to a recent survey, 50 percent of financial leaders say ...and more »
  • New BC municipal election finance rules haven't stopped big ad spending - Globalnews.ca

    Globalnews.ca
    New BC municipal election finance rules haven't stopped big ad spending
    Globalnews.ca
    Critics say people have found a way to get around stricter new laws on election campaign financing passed last year for B.C. As Jill Bennett reports, concerns are growing about how the loophole could affect the upcoming municipal elections.
  • Canada cracks top 10 in 2018 retirement security ranking

    Canada ranked ninth in the world for retirement security, according to the Global Retirement Index (GRI), up two full spots from last year’s 11th place ranking.
    Natixis Global Asset Management’s sixth annual GRI looks at key factors that drive retirement security across 43 countries. The GRI’s aim is to provide a measure of how well retirees are set up to succeed across various countries in the developed world. Switzerland, Iceland, and Norway took the top spots
  • MoneyTalk: The personal finance gender divide - BNNBloomberg.ca

    BNNBloomberg.ca
    MoneyTalk: The personal finance gender divide
    BNNBloomberg.ca
    MoneyTalk: The personal finance gender divide - BNN Bloomberg ...
  • An Update on Canada’s Economic Resilience

    Senior Deputy Governor Wilkins discusses economic developments since the July Monetary Policy Report and Governing Council’s deliberations leading to yesterday’s policy rate decision.
  • Turkey names two deputies to finance ministry - Financial Times

    Turkey names two deputies to finance ministry
    Financial Times
    Turkish President Recep Tayyip Erdogan has named two new deputy finance ministers as the government grapples with a plunging lira and a heavily indebted private sector that have roiled financial markets. Nureddin Nebati, a 54-year-old former lawmaker ...
  • Saskatchewan Trade and Export Partnership (STEP) - Speech (Webcasts)

    Economic progress report - Senior Deputy Governor Carolyn A. Wilkins speaks before the Saskatchewan Trade and Export Partnership (STEP). (14:45 (ET) approx.)