Financial Library

Building Wealth

Posted on May 13, 2014

There are many definitions and meanings for the term 'wealth'. It is often said that it is easier to build wealth over time than it is to keep it! Some confuse high incomes with wealth while others point to assets owned as an indicator of wealth. And, many people use the terms 'assets' and 'wealth' interchangeably assuming they mean the same thing.

The distinction between these two concepts may have an impact on your actions and strategies as you work to build your pot of money or savings during your lifetime.

Tags: 
investment planning

The Five Insurance Must Haves

Posted on May 13, 2014

Insurance is, and has always been, a tool to manage risk. If you cannot afford to 'lose' something, it is best to insure it. The five types of insurance everyone should have are:

Tags: 
insurance planning

So, You Got a Tax Refund

Posted on May 13, 2014

According to the Minister of National Revenue, the average tax refund is over $1,500 for the 2011 tax year. Surprisingly, many Canadians are thrilled about getting a big refund. While certain situations can lead to an unusual tax refund, far too many Canadians lend large sums of money to the government at 0% interest year after year. Two things you can do to make your refunds smaller are:

Tags: 
financial strategies

Reaching for Yield in a World of Low Interest Rates

Posted on April 8, 2014

While we can talk about concepts such as inflation and purchasing power the struggle for many people today is earning enough income on their savings to meet their lifestyle needs. Interest rates and the earnings from capital through dividends, bonds and real estate rental income have dropped dramatically in the past few years.

Tags: 
investment planning

Education Savings: Start Early

Posted on April 8, 2014

A new baby in the family brings many hopes, dreams and expectations. This can often include thoughts about how their lives can be better than that of their parents. And that often includes hopes about careers and the education that goes with them. It is also the time to start planning how to finance the education needed to fulfill those hopes and dreams.

Tags: 
education planning

How NOT to Plan your Estate

Posted on April 8, 2014

Your death will create problems. There will be three types - emotional, legal and financial. You can do certain things now, while you're alive, to reduce or increase these problems and make your heirs either love you or hate you.

EMOTIONAL PROBLEMS

You can increase the emotional upset after your death by leaving your affairs in a mess. Hide your will, or better still, don't make one. Have a number of secret bank accounts and investments.

Tags: 
estate planning

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