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Why retirees should avoid being frugal with their savings

Why retirees should avoid being frugal with their savings

Investors are told throughout the course of their lives to spend less and save more if they want a comfortable retirement. For some, those frugal habits can be hard to break once they stop working – even if they’ve saved more than they could hope to spend for the rest of their lives.

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How to open an RESP account for your child

How to open an RESP account for your child

If you are a parent to a young child and wonder whether you should start planning and saving for their education, you might be curious about a Registered Education Savings Plan (RESP) account. An RESP is an investment account that allows you to save for a child’s post-secondary education. This tax-sheltered account will enable you to save money without paying tax on capital gains, interest or dividend payments.

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HELOC-Funded Home Reno?

HELOC-Funded Home Reno?

Months of pandemic-forced confinement have us yearning for more space. With rising home prices making it harder to buy a new home, Canadians are looking to optimize their existing space, by undertaking costly home renovation projects.

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Smart Credit Card Use: Are You Spending Wisely?

Smart Credit Card Use: Are You Spending Wisely?

If you don’t have methods for smart credit card use, it can be costly – Canadians have an average of $3,240 in credit card debt. This isn’t meant to scare you! Credit cards are a handy tool – when used correctly. They’re convenient to pay with, offer perks in cash, gifts, and experiences, and help generate the credit history you need to take out loans for a car or mortgage. But when used incorrectly, they can also lead to financial trouble and stress. In this article, we’ll go over the basics of credit cards: what they are, what happens when you use them incorrectly, and ways to start using them smarter, even to your advantage!

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Why retirees should avoid being frugal with their savings

With tax audits increasing, how can advisors help?

Being audited by the Canada Revenue Agency (CRA) is never a fun ordeal, but advisors can play an important role in helping their clients get through the process as stress-free as possible. In fact, that role could become more prominent for advisors as a recent C.D. Howe Institute paper says the CRA could come under pressure to raise additional revenue through aggressive tax audits to help pay for the lower tax revenue and relief measures resulting from the COVID-19 crisis.

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Decision Overload: Too Many Varieties of ETFs?

Decision Overload: Too Many Varieties of ETFs?

According to the most recent data from the Canadian ETF Association, Canadians now have 766 ETFs to choose from, 87 more than the year before. Investors can access ETFs covering everything from the broad index to geographic or sector-specific strategies like India, automobile innovation, cannabis or U.S. healthcare, and investment strategies such as low volatility.

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