Advisorsavvy Blog

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.

How many movies have you seen that show the madness on the stock trading floor? The reality is, of course, that the stock market is a hot investment tool. And, people can and do make a lot of money by investing in stocks. But there is a lot to know about how to buy stocks.

However, there are some fairly trustworthy places to invest that should give you returns and security. If you’re new to investing and not sure what to do, a Canadian robo-advisor might be a great choice.

Insurance is one of those things that you pay and pay — and pay. Yet, you hope you never actually have to take advantage of the service you’re paying for. It’s there for times of trouble or disaster. And you need to have that peace of mind, but it comes at a price. And protecting your biggest asset with home insurance is essential.

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.

You’ve booked your flight and hotel. Now all you have to do is start looking up things to do and places to eat, right? Not necessarily. To create a stress-free trip, it’s also important to consider protecting yourself from some of the pitfalls of travel. But what exactly is travel insurance, and do you need it?

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.

Whether you’re saving for the future or a trip, or just trying to make ends meet, a solid budget helps get you there. Actually seeing what you spend and what you owe helps you build a good credit history and score.

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.

When deciding which investment tool makes the most sense for you, it’s important to understand all of the available options. But, there is a lot to know. Learning the difference between a mutual fund and an ETF, for example, means you can choose the best option for you today, and into the future.

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?

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.

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.

We know we should save money, and we know the best way is to earn money on our savings and to diligently set aside a certain amount each year.

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.

However, it’s always important to prepare for tax season in Canada. And the best way to do that is to understand what you should know, including what’s new and when it’s due.

If you ever find yourself in consumer debt, serious debt, someone may suggest credit counselling services to you. Even if you think it’s unnecessary, if the hole you’re in is large enough, it may be time to consider it.

Registered Retirement Savings Plans (RRSPs) help you save for your future. But many Canadians may want or even need, access to that pot of funds early. If that’s you, it’s important to understand RRSP withdrawal rules so you can make the best decision for your situation.

Evelyn Jacks from Knowledge Bureau provides us with her tax strategies for 2019 – happy filling!

How are you supposed to know which credit card is best for travel? Well, it depends on a lot of factors.