by admin | Mar 10, 2015 | Advisor Stream
Now that the RRSP deadline has come and gone, many people have switched their attention on how to get the most from their tax return.
While the best time to do your tax planning is before the end of the calendar year there are certain things that you should be aware of that can help you to save a buck or two.
This week’s article share’s what new on this year’s tax return.
If you have any questions please feel free to give me a shout.
Cheers,
Coach Mark
What’s new on this year’s tax return: Mayers
It’s a good year to do your own taxes. Only a few things are new, and it’s always good to stay in touch with what you make and where it goes. Tax software is making it even easier, and filing online is getting simpler. The Canada Revenue Agency expects about 1.5 million of us will file this week, as we’re eager for a refund that averaged $1,697 in 2014. The number of early birds will rise to 3.2 million by the end of next week. Most of this year’s tax changes give a little bit to families as part of a bundle of populist tax breaks introduced in 2014. Here are the highlights:
Read more here
by admin | Mar 3, 2015 | Advisor Stream
As someone who has competed in triathlons on and off for the past 15 years, I always enjoy reading about other people’s forays into the sport.
I’ve been very fortunate to meet many wonderful, and extremely interested & talented people through my pursuits into the sport of triathlon, many of whom are now close friends, and clients.
One of the terrific things about the sport of triathlon, is that you come across people from all walks of life, and all age groups.
Many of the people that I have crossed paths with ( be it in the pool, on the bike, or on the run) believe in the adage that it’s never too late to do something new.
Or in this case, that it’s never too late to compete in a triathlon,
Here’s a great article that I came across that I wanted to share with you.
It really is never too late….
Cheers,
Tri-hard,
Mark
Training for Triathlons at an Older Age
LAST year, at 66, Jenny F. Scott was not an obvious triathlete. A retired special education teacher, she had suffered a stress fracture running decades ago and took up serious bicycling only when she was 64 years old. But Ms. Scott, of West Columbia, S.C., and a friend decided to “bite the bullet last year, with no expectation other than we wanted to live through it,” she said of the swim-bike-run training needed to participate in the triathlon held locally each July. She signed up for training again this year, and like growing numbers of people in their 50s and 60s — and some older — she has found a new challenge in triathlons and other sports that test discipline and endurance. Some opt to train for competitive swimming, or the senior tennis or golf circuits.
Read more here
by admin | Feb 23, 2015 | Advisor Stream
One of the most common financial questions I have heard over the years, is whether it is better to pay down your mortgage or save for your retirement?
Recent behaviour indicates that many people have chosen to focus on paying down their mortgage vs saving for retirement.
In my opinion this is a reflection of the time tested adage that money is about more than math. The emotional decision to seek out security over more financially profitable alternatives often takes precedence.
When you do take a look at the numbers; (particularly expected rates on return on your RRSP compared to the prevailing cost of mortgage debt) the decision definitely favours adding to your retirement savings.
Here is an excellent article that takes a look at the math, as well as the emotion.
Cheers,
Coach Mark
How saving for retirement beats paying down your mortgage
Saving for retirement beats paying down your mortgage. There – a long-standing debate in Canadian personal finance is settled. To build wealth in today’s low interest rate world, divert money you were going to use to pay down your mortgage balance to your registered retirement savings plan or tax-free savings account. This is the conclusion of a report to be issued Thursday called “Mortgages or Margaritas: Is Paying Down Debt Putting Your Retirement at Risk?”. Read on to see the proof.
Read more here
by admin | Feb 16, 2015 | Advisor Stream
Happy Family Day!
During the heart of a bitterly cold winter like we are currently experiencing in southern Ontario-thoughts often drift to what it would be like to pack up and head out for a much warmer, and perhaps more exotic climate.
For some people this decision entails not just a temporary reprieve from the harshness of colder climate, but actually making a permanent move-retiring abroad.
Whether you are seriously contemplating this decision for yourself, or just day dreaming about it, here is an interesting article to help you divert your attention for a few moments.
Cheers,
Coach Mark
Overcoming The 5 Big Obstacles To Retiring Abroad
There are plenty of reasons people consider retiring abroad, among them: A lower cost of living (sometimes much lower); Better weather (sometimes much better); The ability to live a different type of life — perhaps less stressful, healthier, more meaningful or a self-reinvention; To have an adventure. There are also reasons why people won’t consider retiring abroad. But based on the 4,700 answers and 200 stories posted by the 300+ expats on our site, Best Places In the World to Retire, I think five commonly perceived “obstacles” are overblown and can easily be overcome:
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by admin | Feb 8, 2015 | Advisor Stream
When I first started out as a financial advisor, twenty years ago, a strategy that was very prominent and recommended by many financial advisors was “borrowing to invest”.
This strategy involves taking out a loan to purchase investments outside of your RRSP. The benefits are that the interest you pay on the loan is tax deductible against your income and as long as you earn a return that is equal to the after tax cost of the loan, you will be successful, and have the ability to dramatically increase your net worth over time.
However, one of the areas that was overlooked, or down played was that when the investment markets go into a big slump as they do from time to time (also known as a bear market) your losses are magnified.
Many people found that they were not emotionally prepared for the ups and downs of this strategy, and as a result this strategy fell out of favour.
Does this strategy still make sense for people today?
My personal opinion is that borrowing to invest can still be a very effective strategy for the investor with the right type of temperament, who understands the risks and the rewards, and has a long term investment horizon.
I encourage you to read the enclosed article-it features comments from Talbot Stevens, who is a highly respected thought leader within the financial community. He was also a guest on our Financially Fit For Life webtalk radio show back in 2014
Click here to listen:to our interview with Talbot Stevens The Smart Debt Coach.
Interview with Talbot Stevens The Smart Debt Coach
I look forward to hearing any comments or questions that you might have.
Cheers,
Coach Mark
When borrowing to invest actually makes sense
Borrowing to invest is always a risky strategy, especially so in a climate like this. The bull market is six years old, and nothing lasts forever. Between March 2009, when Toronto share prices touched bottom, and this week, the main Toronto stock market index has almost doubled. Last week’s interest rate cut may be the first of several. The bank’s message is that a bumpy road lies ahead. But each cut also adds a little more energy to the markets. It makes it cheaper for companies to borrow, which improves their profitability and so lifts share prices. It makes it cheaper for us to borrow to buy stocks. But should we? Yes- borrowing for investments can be a good idea, if you do it right.
Read more here
by admin | Feb 1, 2015 | Advisor Stream
Happy Super Bowl Sunday!
One of the areas that I enjoy most writing and speaking about is in the area of goal setting.
It;s actually one of the focal points of my Core Conditioning Program. If you aren’t familiar with it, be sure to check it out at www.coreconditioningprogram.ca.
Experience has taught me that following a successful formula for achieving your most important goals is a challenging area for many people, and one that they need help with.
That’s why I’m always on the look out for helpful resources that can help my clients, contacts & friends to achieve their personal & financial goals by getting to the core of what is most important to them, and ultimately get the most out of their money & their lives.
When it comes to being successful in any part of our lives, it;s our thoughts & actions repeated on a consistent basis until they become habits that determine our success.
Be sure to give this article a read, and help a friend by passing it along to them.
Cheers,
Coach Mark
P.S. For what it’s worth, my prediction for today’s game is Seattle 21 New England 17
The three personal development goals successful people pursue habitually
If you Google “daily habits of successful people” you’ll find almost every business-focused media outlet represented in the results. But if you’re looking for a guaranteed roadmap to success, don’t get excited just yet. If you read all of those articles, or even a few of them, you’ll soon realize that successful people have a wide range of daily habits. So how are any of us supposed to figure out which daily habits are critical to success, and which are personal preference and idiosyncrasy? If you take a look at all the different lists of habits, routines, principles and priorities among successful entrepreneurs you’ll find these three universal success factors.
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