According to the Canadian Anti-Fraud Centre, there have been a number of COVID-19 related scams aimed at the most vulnerable by taking advantage of fear and misinformation. It’s important to keep yourself and your loved ones, especially those who may be more susceptible to fraud, armed with the facts.
Amidst the economic fall out of the Covid-19 pandemic, the Canadian government announced a 25% reduction in RRIF minimums as part of a multi-billion dollar relief package.When you are in a RRIF, you are mandated to withdraw the minimum amount required by law each year. In this scenario, when the market drops drastically the RRIF payment you receive equates to you selling that portion of your portfolio at a low.
It’s the ‘average Joe’ who has enough information to sound like they know what they are talking about, a hearty dose of over confidence, and a desire to be seen as an expert who is the most dangerous.
While we don’t know what the ultimate effects of the coronavirus will be on investment markets, it can be helpful to look to the history for reference and see how the market has performed during virus outbreaks in the past.
Equity markets around the world are falling as investors react to the increased economic risk posed by the spread of the Coronavirus, or COVID-19.
We can feel bombarded with responsibilities screaming for our attention daily. Worries of not having a financial plan with RSP and/or TFSA investments can loom in the background. Sometimes the thought of climbing a mountain seems overwhelming but the thought of taking just one step is manageable. Focus on taking the first step.
In the spirit of a high level overview, there are some options available to Canadian investors to pay for the advice and service they receive from their investment advisor.
Christmas is noted as one of the most stressful financial times for people, and rightfully so. Christmas in our culture seems to carry with it a financial burden that can be hard to swallow.
Many farmers want to see their family farm carry on to the next generation. This may not sound like a tall order but it can be. The ability for a son or daughter to take over the family farm has become increasingly difficult.
1 in 4 indebted Canadians admit to making poor progress on paying down their debt. Having a budget and debt repayment plan can go a long way to reversing this trend. The first step is to pay attention to where your money is going. You may not even realize how much you are spending.
We need to represent women and their finances appropriately but sometimes by broad based differentiating, we somehow create a separation in ways that aren't necessary. Personal difference unique to individuals are far greater than any difference by gender.
There is much discussion about portfolio positioning and considerations for late cycle investing. Many of us would love a crystal ball, but alas, we don’t have one. We are left to carefully weigh facts to help us make educated decisions and calculated risks with the information available to us.