Chances are, while you’re good with finances, advertising is not your forte. And in today’s world, digital is king. Therefore, it is vital that you are where potential clients are looking for you.
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There are two different ways to benefit from investing in stocks, cash payouts and dividends. A dividend is basically an additional stock added to your account bucket. For each dividend stock you own, you are paid out a portion of the company’s earnings.
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A note from Advisorsavvy: Credit counselling is just one of many debt relief options available to Canadians. While Advisorsavvy does not feature any credit counsellors on our roster of professionals, we do havea team of Licensed Insolvency Trustees ready to help you with a consumer proposal —an often-overlooked alternative to bankruptcy. Are you looking for debt solutions in Canada? Credit counselling is one of various financial services available on the market to resolve debt. Working with a credit counsellor allows you to eliminate debt and develop healthy financial habits for the long run. While these services are in place to help you, it’s up to you to execute and stay dedicated to your financial plan. To learn more about credit counselling in Canada, continue reading below. What is credit counselling? Credit counselling is a service offered to individuals who are struggling with their finances. A credit counsellor can help people improve their credit score, create a realistic budget, pay off
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Learning the difference between a mutual fund and an exchange-traded fund (ETF), for example, can help you choose the best option for you today, and into the future. To help you decide, here is a complete guide to ETFs.
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We’ve been taking a good look at accounts designed with retirement in mind. First, we reviewedRRSPs(the most well-known savings account that helps Canadians save money for retirement), followed byRRIFs(where all that money you saved eventually goes to give you income in retirement). We recently featured Locked-In Retirement Accounts (LIRAs), an account for your employer pension if you leave your company or end up laid off. If you’re wondering whether LIRAs operate in a similar way as this RRSP-to-RIFF pipeline, you’re in luck — they do! Introducing Life Income Funds, or LIFs. What is a Life Income Fund (LIF)? It’s not uncommon these days to hold several positions at a variety of companies over the course of a career. Pivoting career paths, taking on contract work, and hopping between jobs has become totally normalized. That said, Statistics Canada reports that active membership in registered pension plans in Canada surpassed6.4million in2018. Fortunate enough to have a job that offers a pension? When/if
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We’ve talked about RRSPs (the most well-known savings account that helps Canadians save money for retirement) and RRIFs (where all that money you saved eventually goes), but now, let’s pivot to LIRAs —or Locked-In Retirement Accounts. And it’s here where employer pensions come into play. What are Locked-In Retirement Accounts (LIRAs)? Did you know: The nature of work, however, has drastically changed in recent years. The days when you’d start with a company after graduating high school or university/college and stay there for 40 years are mostly over. Now, it’s not uncommon to hold several positions at a variety of companies over the course of a career. Career pivoting, contract work, and job-hopping are certainly more normalized than before. So if you’re fortunate enough to have a job that offers a pension…what happens to it if you leave the position? This is where Locked-In Retirement Accounts (LIRAs) enter the chat. Simply put, if you leave your company or end up
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If you are like most people, you have been looking forward to retirement for the better part of your career. We know that planning for retirement is an important part of any financial plan. But what we don’t necessarily know is how much money we need to retire in Canada, comfortably.
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Planning for retirement is a key aspect of any financial plan. One of the best ways to make sure you have enough money to retire on is to invest in a Registered Retirement Savings Plan (RRSP). Then, watch your nest egg grow. But it’s important to understand your RRSP contribution limit to maximize the benefit.
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Buying your first home is exciting if not an overwhelming, exercise. You save and visualize that dream home, then, you search and select your options. And with fingers crossed, you put in your offer.
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Being an adult comes with a host of expenses that you can’t avoid, like food and shelter. Far too many people wince at adding the cost of insurance to their list of fixed expenses. But, life insurance is not a variable expense.
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Whether most of us know what a good credit score looks like in actual terms is another story. What do potential creditors consider a good score? Is there a point of no return from bad credit? And is there such a thing as a magic number to strive to attain?
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Let’s face it, some of us need to learn the hard way that spending what we don’t have is a bad idea. Ideally, we realize this before destroying our credit rating.
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If you work in finance or have an interest in this industry, finance events and conferences are a great opportunity to learn from the best.
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As with all investment products, there are limits and rules to what and when you can contribute. And if you go above the allotted maximum, there is typically a penalty. Similarly, TFSA over contributions are subject to a tax.
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Trevor Van Nest, Founder and Owner of Niagara Region Money Coaches
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Dave Lee, Senior Wealth Advisor, of Scotia Wealth Management
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