Recent Articles

Mortgage Rules Tightened

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 …

Tax-Free Savings Plans

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 …

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 …

Can You Spot a Ponzi Scheme?

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. …

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 …

More Overlooked RRSP Tricks

More than 65% of Canadians have made deposits to Registered Retirement Savings Plans (RRSPs). Many do so just for the tax savings, but here are some often overlooked tricks you should be aware of:   RRSP loans – Those who use investment funds for their RRSPs should be well aware …

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