What was your first memory about money? Tong: I think my first memories of money were asking my mom to buy candy bars at the grocery store, and her saying no because we couldn’t...
Is beating the bank easier than fighting the fed? The U.S. has its mighty Federal Reserve, and Canadians have the central bank called the Bank of Canada (BoC). And while we may pretend we...
Is crypto a safe investment for retirement savings? This is a tricky question, Alex, because only a qualified financial advisor who has a holistic view of your financial situation can tell you whether crypto...
Expense Amount Purchase price $500,000 Land transfer tax $6,475 Legal fees $1,695 Down payment (20%) $100,000 Mortgage amount (amortized over 25 years) $400,000 Mortgage rate 4.5% fixed Total mortgage interest over 25 years $264,168...
The best date to retire for tax purposes For most Canadians planning their retirement, tax isn’t the primary factor, Laf. However, there are instances when tax can come into play for choosing a retirement...
Consequently, where millionaires are deciding to take their cash is an informative real-life experiment that reveals which countries have the most attractive combination of legal stability, low tax rates and standards of living. However,...
What’s the best money advice you’ve ever received? Markets work in cycles, so if you’re confident in your portfolio, don’t pull money out of it. Between the financial crisis of 2008—when I started investing—the...
For one, you’re going to see a lot of terminology when you start investing, like margin, P/E ratio, rebalancing and limit. Chances are, some of it will make your head tilt. Before you dive...
When a taxpayer loans money to their spouse at the CRA prescribed rate, the borrower must pay interest each year to the lender. The interest is tax deductible to the borrower and reduces the...
In mid-July, I started to think the markets were turning a corner. At that time, companies were just beginning to report second-quarter earnings. While those earnings were not particularly good—they weren’t terrible, but they...