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It’s inevitable that financial decisions cause at least some sort of tension in the home. Often to avoid this one of the spouses oversees the financial decisions while the other just trusts them. It makes sense really. Not everyone is interested in the day to day of managing money or investments, and some people are just bad at it. In … Read More

Welcome to the world of cryptocurrency, where millions have been made and fortunes lost. Numerous cryptocurrencies are available, including Ethereum, Litecoin and Ripple, but the most well known is Bitcoin. You can’t touch a Bitcoin – it’s a virtual asset. Yet one Bitcoin, as at May 31, 2018, was worth $9,802. The current value is at cbix.ca. The Bitcoin process … Read More

Permanent life insurance, which includes Term to 100, whole life and universal life insurance, provides coverage that lasts for life. At its most basic, permanent insurance covers the funeral and other final expenses. Larger policies, however, can meet a variety of estate planning needs. Creating an estate. Beneficiaries receive tax-free insurance proceeds outside of the estate, avoiding any delays in … Read More

The traditional way of doing things isn’t always the most economical. Take the home phone. Many people hardly use their land line and would save money by only using their mobile phone. Sometimes we follow the same old habits without exploring alternatives. When choosing life insurance, there’s a traditional way to determine the policy you purchase: assess how much coverage … Read More

You don’t need to empty the bank to help your children – or grandchildren – in a significant way. A tax-smart strategy is to give money that children can contribute to a Registered Retirement Savings Plan (RRSP) or Tax-Free Savings Account (TFSA) or both, provided they have contribution room. It’s especially helpful when children are starting out and have difficulty … Read More

Imagine that your adult child tells you about a business idea – Mall Doggie will be a service at malls where customers pay to have their dog cared for while they shop. All that’s needed to get this start-up off the ground is your money. Your child suggests either a business loan, an investment for equity, or perhaps an advance … Read More

In 2017, stock markets were notable not only for their solid performance but for unusually low volatility. Then came 2018. In February, markets suffered a steep correction, rebounded before long, and then continued to move up and down months after. If you’re retired or about to retire, market volatility is something you want to guard against. But if you’re in … Read More

When you think of life and health insurance, you likely think of protection against risks to your health. Your investments might not be on your mind, but insurance and investments are related. If you lack adequate insurance coverage, you could be forced to tap into your savings to deal with the financial consequences of an illness or injury. Here are … Read More

Not all investments are created equal. This isn’t necessarily defined by their merits, but rather by their suitability for your personal financial situation and long-term goals. I often get asked to compare Tax Free Savings Accounts (TFSA) and Registered Retirement Savings Plans (RRSP). For years RRSPs have been hailed as the golden nugget of Canadian investing, while TFSAs are a … Read More