Money Management

Don’t leave charity to chance

“If you are like me, you never have enough time to get your stuff done. There is perpetual work to do, and kids to raise, and a bottomless list of chores, and somewhere in there we need to look after ourselves too. It’s go-go-go. Personally, I am at the point in life where what I…

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Do you have a Financial Ninja as an advisor?

“Canadian financial regulators are cracking down on who can use the term “financial advisor.” Going forward, anyone who is going to call themselves a financial advisor will actually have to have a financial planning, or equivalent, designation.” Smart Money Do you have a Financial Ninja as an advisor

Also posted in All Columns, Investment Management |

350,000 Canadians qualify for a Registered Disability Savings Plan and yet they are not using it

“I came across an unpleasant statistic this week. It’s not a surprising statistic but, still, it’s a darn shame. There are over 350,000 Canadians who qualify for a Registered Disability Savings Plan but have not yet established one. Often these are the people that could really use a hand, and yet they are not using…

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Also posted in All Columns, Risk Management |

Do you drink your coffee at home?

“​I keep seeing this idea that to retire wealthy you need to drink your coffee at home. In other words, if you have a $5 a day coffee habit, instead of buying the fancy gourmet triple lattes with cinnamon, you brew your own coffee at home at a fraction of the cost. Then you take…

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Also posted in All Columns, Investment Management |

Extinguishing your largest liability

“For most people the biggest thing they will ever buy is their home, and the biggest liability they will ever have is their mortgage. But, unless your mortgage is coming up for renewal, the odds are good that you are just going with the flow, and not giving a lot of thought to how you…

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How to use a net worth statement

“In our daily routines it can be easy to overlook all the incremental bits of progress that happen. Sometimes it feels like we are working hard and still not getting anywhere. But when you look back to where you were last year and the year before, now you can start to see the progress: the…

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Also posted in Planning Encyclopedia |

Teaching kids about money

“Teaching your kids about money is one of the important jobs that a parent has. But that is easier said than done. For one thing, there is the money taboo. A lot of people just are not comfortable talking about money with their kids. But the money conversation is like the birds-and-bees conversation. Sure, it…

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Taking things for granted can cause chaos for your finances

“People take things for granted all the time. They may assume that things will stay the way that they are now. Or they may assume that the future will meet their expectations. And sometimes these kinds of assumptions will work out fine. That is, as long as things actually stay as they are, or the…

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Controlling your debt

“There are different types of debt, and some debt might even be considered as good debt. The best possible debt will be at a low interest rate, have tax advantages, and the money will be used to acquire an asset that appreciates in value. An example is an RRSP loan. These are available at low…

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Money should be your servant, not your master

“Money should be your servant not your master. Buying stuff is great. But taking 77 years to pay for it? That is money controlling you, and it should be the other way around.” Smart Money_ Money should be your servant, not your master – Alaska Highway News

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