latest articles

Apr
02
2010

Mortgage Rules Tightened

By admin

In an effort to crack down on speculators and to discourage people from taking on too much debt, Ottawa is tightening mortgage rules again. These new rules are expected to take effect April 19, 2010.

There is growing concern that the housing market in Canada may be overheating. Finance Minister Jim Flaherty stresses that while there is no bubble in Canada's real estate market now, these new mortgage measures are a proactive step to help prevent a housing bubble from occurring.

Tags: 
debt management
Feb
02
2010

Tax-Free Savings Plans

By admin

When Sophia first heard the term Tax-Free Savings Account (TFSA), the first thing that came to her mind was a low- or no-interest account at a bank. She soon learned that just about every investment option available to her in an RRSP is also available to her in a TFSA plan.

Tags: 
tfsa
Jan
02
2010

New Years Financial Resolutions

By admin

Jack and Diane want to improve their financial situation and feel that making financial New Years resolutions and implementing them is a good start. To help identify their priorities, they made the following list:

Set Objectives - Goal setting is the foundation of achieving financial success. If they write down their goals, it will help Jack and Diane clarify them and establish their personal and financial priorities.

Tags: 
financial strategies
Nov
03
2009

Can you spot a Ponzi scheme?

By admin

On June 29, 2009, Bernard Lawrence 'Bernie' Madoff was sentenced to 150 years in prison for perpetrating what has been called 'the largest investment fraud in Wall Street history.' Actual losses have been estimated at $64.8 billion by prosecutors. Apparently, Madoff admitted to his sons that his company, Bernard L. Madoff Investment Securities LLC, was nothing more than a giant Ponzi scheme.

Tags: 
fraud prevention
Jul
01
2009

Proposed Changes to the Canada Pension Plan

By admin

On May 25, 2009 Finance Canada announced some proposed changes to how Canada Pension Plan will work.

If approved, the changes will take effect over a period of time from
2011 to 2016, so they will affect anyone planning to retire after 2010.

Below is a brief summary of some of the most important changes:

Early retirement (before age 65) will result in a reduction in CPP benefits by 7.2% per year, which is up from the traditional 6%. This means that if you
begin to take your pension at age 60, your payments will be cut by 36%, not 30%.

Tags: 
retirement planning

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