by admin | Jan 25, 2015 | Advisor Stream
Last weekend I sent out on article on RRSP’s that seemed to strike a cord with many people.
I received a number of comments about the article-which made reference to the generally believed notion that RRSP’s are a terrific investment & planning tool, but are not ideally suited to every person, or every situation.
I thought I would follow up on last week’s theme by sending along a thought provoking article on the 7 Misconceptions about RRSP’s.
I trust you will enjoy it.
Be sure to pass along your comments & feel free to forward it to a friend.
Cheers,
Mark,
7 misconceptions about RRSPs
As RRSP season gets into full swing, every financial institution you’ve ever walked past is suddenly your best friend. Don’t delay, make a contribution today! There’s no question that Registered Retirement Savings Plans are a good idea. As we live longer and as fewer among us can count on company pensions, personal saving has to fill the gaps. Author, investment expert and Star columnist Gordon Pape calls RRSPs the “ultimate wealth builder,” but even though they’ve been around for almost 60 years, there are plenty of misconceptions about RRSPs.
Read more here
by admin | Jan 21, 2015 | Advisor Stream
This is the time of year that many Canadians look to top up their Retirement Savings contributions-in large part to create a larger tax deduction, or to reduce potential taxes owing to the government.
This is definitely a very sound and prudent strategy, but it may not be the best course of action in all cases.
Here is a great article to get you thinking about how to best maximize your after tax dollars over the long term.
Be sure to give it a read before you decide what to do with your annual RRSP this year.
Cheers,
Mark
Don’t fall into the RRSP ‘tax trap’
As the annual RRSP contribution deadline approaches, it’s worth considering more than just how much money you can afford to stash away. Specifically, it’s worth thinking about taxes.
For many investors in registered retirement savings plans, the tax strategy starts and ends with deducting their annual contributions from their income. But this is a shortsighted approach that will likely lead to much larger tax bills than necessary down the road, financial advisers and tax specialists warn. How can you avoid the RRSP tax trap?
Read more here
by admin | Jan 12, 2015 | Advisor Stream
Imagine if achieving the new year’s resolutions and goals that you set for ourselves was actually fun and rewarding instead of tedious and illusive.
Not that there isn’t work involved, but what if we were able to take a more upbeat approach when it comes to our goals, be they personal or financial?
Here’s an interesting article that appeared in The New York Times that I think you will find helpful for this year goals, particularly your investment related ones.
Cheers,
Mark
Investment Strategies for Resolution Breakers
THE problem with most New Year’s resolutions is that they aren’t any fun. Sure, many of us should eat less — and healthier. And of course, more exercise would be a good thing. But actually doing these things can be hard. It’s no different with financial resolutions. Spending less and saving more is a wonderful concept. But it would be much more enjoyable to take a big vacation in Bora Bora — and to lie on a hammock and consume high-calorie food and drink once we’re there. The authors of two new personal-finance books sympathize. They know it’s tough to achieve your financial goals – read on for the details.
Read more here
by admin | Jan 8, 2015 | Advisor Stream
2015 has now officially arrived. Happy New Year once again to you and your family.
At this time of year, there are no shortage of predictions for what might lie ahead for the coming 12 months.
Unfortunately, my personal crystal ball is fuzzy, and I’ve never been a big fan of prognostication.
Legendary economist, John Kenneth Galbraith once said…”The only function of economic forecasting is to make astrology look respectable”.
However, I do find it interesting to read what the prevailing business sentiment is pontificating on at the beginning of the year.
Here’s an interesting article from the Globe and Mail that highlights six big business stories to watch in 2015.
We’ll be sure to check back in over the course of the year, to see how things have worked out.
Cheers,
Mark
The six biggest business stories to watch in 2015
Canada’s economy was poised to enter 2015 with more cause for optimism than any time since the Great Recession. But oil’s slide has cast doubt over how the recovery will now unfold. Economists have been anticipating that Canada would finally achieve its elusive broad-based economic recovery in 2015, after years of leaning on high energy prices and a debt-fuelled housing sector to keep it afloat. Strong U.S. growth should drive a revival in demand for Canadian exports, which is expected to spur long-dormant business investment in new capacity and create jobs across a wide range of sectors. Here are the six biggest business stories to watch in 2015, from the Globe and Mail experts.
Read more here
by admin | Dec 24, 2014 | Advisor Stream
Are you looking for just the right bottle of red wine to impress your family and friends this holiday season?
I know that when I walk into my local purveyor of fine spirits, I’m looking for that elusive balance that will be both delicious, yet affordable.
Here are some great ideas for you that are sure to delight your wine loving friends, but not break your Christmas budget.
Merry Christmas!
Enjoy,
Mark
Impressive and affordable bottles of red for the holiday season
We wine lovers all are questing for a wow wine that is so drop dead gorgeous it blows our socks off with elegance and power. Here, wine critic Gord Stimmell lists his favourite reds for the holiday season. This list should help you fill out your wine shopping lists for Christmas! Cheers!
Read more here
by admin | Dec 14, 2014 | Advisor Stream
Are you still looking for Christmas ideas that will light the faces of loved ones in your house?
Here are some helpful ideas for the hi tech people in your home. From experience I know that anything to do with Skylanders is a hit for the 10 or under crowd.
On another note, I am very excited to pass along that tomorrow night (Monday December 15th) @ 9 pm I will be once again appearing as a guest on Rogers Toronto Speaks: Personal Finance, cable 10.
The show is available to Rogers cable subscribers in the Toronto area.
If you that includes you, I encourage you to check it out if you have time.
Cheers,
Mark
Children love digital technologies as much as adults do, and gadget makers have responded with some smart, entertaining options. With the holidays fast approaching, a guide to the latest and greatest is valuable for parents, aunts, uncles, or family friends. Here are some noteworthy devices that will keep children entertained and parents happy. Spend wisely this holiday season!
Read more here
