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As a good friend and successful investor once told me, “better to have it and not need it than need it and not have it.”  I recall the comment was for insurance but it seems appropriate here. In the securities world, advisors make asset allocation decisions primarily between stocks, bonds and cash.  Further diversification can…

How do you prepare for an interview with a financial professional and more importantly, what questions should you ask? A first meeting should involve the planner asking the majority of the questions.  A second or even multiple meetings are common.  Below are some of the questions you should get answers to before putting pen to…

With the loonie trading below the 90 cent range it will be a more expensive year for those who haven’t hedged their bets by also owning U.S. dollars.  At some point you may find convenience in establishing a bank account in U.S. $ either here or below.  A U.S. dollar credit card may be of…

Not the Anne Murray song nor the southern migration of a bird of flight.  Rather, the term commonly associated with border crossing Canadians in search of sun for a good part of the year. Depending upon who you talk to it is either that enviable time you dream about or a time fraught with pitfalls,…

Once reserved for only the wealthy, access to investment counsel firms have become more commonplace in recent years. At minimum, one requires obtaining a Portfolio Manager designation or similar and the granting of a license from the BC Securities Commission with all related initial requirements of experience, capital, insurance and ongoing regulatory compliance. Potential advantages…

Many will remember the tv commercial of the mechanic who looks up at the owner of a car and says, “you can pay me now or you can pay me later.” The commercial was for Fram and the inference was that a small investment in a new oil filter and change could prevent a costly…

Both my grandfathers were born in Europe.  Both made their way to this country with little in their pockets.  Both by themselves, both as teenagers. Times have changed.  The when, how and if the kids are ready to leave and make their own way. Some choose to leave as soon as high school is completed.…

I’ve never logged, worked in a mine or a pulp mill.  The closest I got was a summer job at the former Raven Lumber.  What these occupations had in common was that they were all subject to market forces, seasonal shutdowns and strikes. Growing up in the 70’s and 80’s we saw them all.  The…

Keeping up with the Joneses commonly refers to our desire to have (or at least appear to have) the material wealth of our peers.  For at the heart of all social interactions is our desire to fit-in or belong. It starts young.  Savvy marketing aimed at toddlers.  Pretty soon a sugary cereal in a bright…

Many seniors today have benefitted from both the fortunate times they were born in and their own good financial habits.  It didn’t start out this way as most lived in modest homes, many with a single car in the driveway.  Vacations were something that involved a drive into the nearby woods sleeping under something fashioned…

It’s a fair question but not one easily answered.  Far too many considerations to throw numbers out to the masses. Let’s consider the “risk-free” rate of return.  We’ll call this the rate the bank would give you in a cashable GIC with full CDIC protection.  It’s a little less than the rate of reported inflation…

It took a long time for me to come around but on whole, I prefer monthly obligations.  At least for those things I would deem needs.  For those on a fixed but modest income monthly billing can make a lot of sense and is my recommendation to clients where appropriate. Sure, there are those diligent…

At some point, this question comes to everyone’s mind.  Many nearing retirement never really thought about it.  Like most, they just got busy with life until one day they described the number of cheques they were due in months rather than years. If you are already retired with no prospect of gaining additional income you…

Chances are you have one or more in your wallet and a new pre-approval in your mailbox.  This financial toll booth is nearing a necessity in today’s society. Unless you live in a home still surrounded by a moat it’s pretty difficult to get by without one.  Airlines, hotels and car rental agencies are pretty…

If it stands to reason that some may choose to unlock a portion of their equity in their homes to meet the demands of longevity it must also mean that a much larger portion should look to increase their cash flow by all means.  One such opportunity to do so would be to participate in…

The passing of former Finance Minister Jim Flaherty got me to thinking about the subject of legacies.  At the age of 64 his life ended far too soon.  He oversaw many new programs including the Tax Free Savings Account and Registered Disability Savings Programs and was one of the steadiest hands on the levers that…

Along with millions of Canadians I followed the Winter Olympics with great interest. In terms of medal count, Russia was tops.  This is part of their legacy along with the unfathomable $51 plus billion they spent for the right to have games in the mother land.  Canada managed third as the Own the Podium campaign…

There are many reasons to consider the purchase of life insurance.  For those in retirement, I can think of 4 primary reasons; 1) to maximize the value of an estate 2) to equalize an estate as in the case of a blended-marriage 3) to provide proceeds immediately or privately without having to wait for probate…

You’ve likely seen the ads of “David.”  He’s the smooth talking, white-haired gentlemen promising high returns, no risk and his personal guarantee.  In one ad he proclaims that, “you couldn’t stop me anyways, it happens all the time,” before boarding his yacht and sailing off with all your money. The ads are often humorous and…

$200 Billion Buoyed by strong returns across all sectors this is the latest estimate of what the Canada Pension Plan is currently worth. It’s big, it’s prominent and it is run by a large and sophisticated organization known as the Canada Pension Plan Investment Board (CPPIB).   They in turn subcontract various portfolios to chosen experts…