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Home Archive for category "Financial Health Blog" (Page 5)

Financial Health Blog

It’s time to make up for lost RRSP saving time

If you find yourself short on cash, or you’ve fallen behind with your RRSP contributions, an RRSP loan at today’s low interest rates can help recoup some lost time and get your retirement savings back on track. At first glance the missed contribution is just dollars and cents. But in the bigger picture there’s alsoRead More…

 

Individual Pension Plans (IPP)

An Individual Pension Plan (IPP) is a registered pension plan (RPP) with defined benefits designed for an individual. An IPP is suitable for business owners age 45 and up with T4 earnings of at least $75,000 for at minimum the last two years, who own at least 10% of their company. Advantages of an IPPRead More…

 

Everything can change in an instant

It can’t happen to me.  Can it?  I recently attended a talk by a gentleman who, while driving with his wife on some country roads, was broadsided by another car that went through a stop sign. Many of his bones were broken and he had extensive internal injuries such that he was not expected toRead More…

 

Twelve key documents you need to gather

Can you imagine what would happen if you died and your beneficiaries didn’t know where to find your will? Or your money? It happens all the time. When someone dies, there are a whole bunch of questions that need answers but the only person with the answers is not here anymore. You really love yourRead More…

 

Conservative Investors: Index-linked GICs rarely deliver what they promise

Financial institutions continue to create and market products like index-linked GICs that harvest many fees and commissions, but defy investment logic. Index-linked guaranteed income certificates (GICs) promise to safeguard a portion of investors’ portfolios. In volatile markets like the ones we’ve been experiencing, these products may seem like an appealing place to put some ofRead More…

 

High interest with free unlimited chequing in one bank account

That’s smarter banking – and it’s available now with Manulife Bank Advantage Accounts! Advantage Account gives you: • A 0.9%1 interest rate • No fees on everyday transactions2 when you have $5,000 or more in your bank account • The convenience of a chequing account The difference free unlimited banking makes Many people are surprisedRead More…

 

A Guide to Retirement Planning

The Financial Services Commission of Ontario (FSCO) has created “A Guide to Retirement Planning”, an easy-to-understand video series aimed at helping Ontarians prepare for their retirement. This series provides an overview of the three pillars of Canadian retirement income system as well as tips and resources you can use to make informed decisions about yourRead More…

 

Convertible Bonds

The stability of a bond, the upside of a stock A convertible bond or debenture is a type of bond that the holder can convert into a specified number of shares of common stock in the issuing company. It is a hybrid security with debt- and equity-like features. The investor receives the potential upside ofRead More…

 

Travelling? Don’t leave home without this…

Did you know that a four-day stay in a U.S. hospital for an appendectomy could cost $39,400* (USD), with only $1,600 (CAD) covered by your OHIP. A one-day stay in a U.S. hospital for a broken arm and wrist could cost $32,600* (USD), with only $400 (CAD) covered by your OHIP. With travel insurance, you’llRead More…

 

Guide to retiring rich

Most people can retire rich if they really make a personal commitment to doing so.  It’s sort of like sticking to a diet.  Four characteristics go into successfully taking action on your personal finances and then sticking to a commitment to retire rich: Numeracy, education, motivation, and self-control according to Lewis Mandell, Ph.D and EmeritusRead More…