Question: My wife and I have a child, and have an RESP – Registered Education Savings Plan – individual plan for her education savings. We’ve been doing a good job of contributing to the RESP since our daughter was born so there’s a fairly significant balance in there now. My concern is that our daughter, who is currently 15, is […]
Q: Hi, my husband and I got married a few years ago, and we’re now planning on purchasing our first home together! He has about $40,000 in his RRSP and I have about $55,000 in mine. I’m wondering what your thoughts are on the Home Buyers’ Plan. Can you explain how it works? And do you think it’s a good […]
According to renowned investment consultant, Charles Ellis, investors innocently describe mutual fund fees with one four-letter word and one number – both word and number are wrong. The word is “only,” and the number is often “1%.” So, when referring to mutual fund fees, we end up with statements like “It’s only 1%.” That may be true in the United […]
Put yourself in this scenario: You’re planning to go to a show tonight. A ticket costs $150, which you’ve already purchased the day before. When you arrive at the show this evening, you realize you left your ticket at home on the table. You don’t have enough time to go home and get it. Do you purchase another $150 ticket […]
‘Tis the season! RRSP season, that is. Time to get ready for the media’s annual dose of advertisements about saving for retirement. While we all need to be smart about planning for retirement, the reality is that there are a lot of myths and misconceptions about the RRSP – Canada’s most popular retirement savings plan. Rather than focus on a […]
