At ModernAdvisor we take keeping fees low seriously. The same cannot be said of the mutual fund industry. The majority of mutual funds in Canada sold by advisors have fees of over 2% per year. The proponents of actively managed mutual funds often argue that the reason the fees are what they are is you are paying for that active […]
Taking control of your cash flow Once you’ve developed a plan for paying down your debt, you need to organize your cash flow so that you actually make your payments, cover your bills, and have enough for groceries. Thanks to the plethora of “free” bank accounts available in the world, it’s easy to set up a working program that requires […]
“Debt.” Does the word make you want to curl up into fetal position and cry? If so, you’re not alone. We carry a lot of shame about poor money management. The number of people who come to us, as financial planners, with their heads low and whisper about how badly they’ve messed it up is ridiculous. Feeling shame, and hiding […]
There’s a lot of debate about exactly how big the gender wage gap is, and the causes of it, but it undeniably does exist. Total Income: Men and Women in Canada Source: Statistics Canada. Table 202-0407 – Income of individuals, by sex, age group and income source, 2011 constant dollars, annual Many people incorrectly believe that women earn less […]
International Women’s Day is March 8th, and to celebrate, we’ve got Financial Planners Julia Chung and Sandi Martin weighing in on issues that affect women in financial matters. But don’t let the title fool you: these are not “women’s issues” so much as they are people issues, and in many cases, economic issues. And even if you have a Y […]
Stock markets seemed to stabilize in February, giving some comfort to investors after a rocky few months. The Canadian dollar retreated quickly from its lows of 1.45 to the USD that were reached in the middle of January, while oil recovered to the mid $30 range.
The RRSP deadline for 2015 2016 is coming up on February 29 March 1, 2017. Here are the top 11 mistakes to avoid. Waiting until the last minute to contribute The deadline to make RRSP contributions for the 2015 tax year is February 29. An RRSP allows your gains to grow tax-deferred until you make a withdrawal. The earlier you […]
Stock markets had another bad month in January. The Bank of Canada left interest rates unchanged despite analyst predictions and the Bank of Japan joined the negative interest rate club.