Question. Hi, my fiancé and I are getting married this summer, and I’m looking for some advice on the best way to setup our household finances. Until now, we’ve maintained separate finances and bank accounts. However, we’ve just recently purchased a house, so in addition to the mortgage, we’re going to have a lot more shared expenses. I should also […]
Question. Hi, I’ve just received a small inheritance, and would like to use it to help save for my child’s education. I’ve spent some of the inheritance already, to take care of some outstanding credit card debts, and have about $20,000 left over that I would like to invest for my son. By the way, my son was born earlier […]
Question: What is going on in the markets right now?! I don’t know what’s happening but I don’t want to see my account go down like this. Do you think now is a good time to sell? Answer: Indeed, it seems Mr. Market is has stopped taking his medication and is throwing a tantrum again. What’s going on? On the afternoon of […]
Question. Hi, I have some money that I’d like to contribute to my investment plan. I have about $110,000 in my RRSP, and about $32,000 in my TFSA. This year I can afford to contribute about $5,000, and I’m wondering if I should put it into my RRSP or my TFSA? Which one is better? Answer. Which is better, a […]
Question. Hi, I guess it’s that time of year again because I keep hearing about RRSPs these days. I know it’s important, and I know I should contribute to mine. And I want to, but I just don’t have the cash available. I feel like I’m neglecting my RRSP and want to be more responsible, but it always seems to […]
Question. My husband and I have recently purchased our first home together. Actually, we’re just in the final stages of the process, and wondering about insurance. The mortgage representative at our bank said we should buy our insurance at the bank because it’s made specifically for this purpose. Actually, she told us that mortgage insurance is mandatory for us. Is […]
Question: My husband and I file our own taxes each year. I’m not a tax expert, but I try to educate myself so I can lower my taxes wherever possible. Can you give me any basic advice or tips so I can make sure I’m being smart about taxes and taking advantage of any tax saving strategies available to me? […]
What can you do about those investments in your portfolio that aren’t exactly performing as you had expected? If you’re like many others, you’re probably thinking, “I’ll just hold it until it goes back up to where I bought, and then I’ll sell it.” Indeed, this seems to be a common strategy. Why? Mostly because, if we sell an investment […]
