What you should know about your advisor What is your advisor's "background”? You give him the investments accumulated during a lifetime, thus it is important that you are comfortable with the experience and credentials of the person guiding you. What questions should you ask? I have copied below extracts of an article published in the Globe & Mail last May 29th: "What you need to know about your financial advisor" which I found highly interesting...
Keys to Successful Debt Management Perhaps the most encouraging outcome of the latest recession is the increasing emphasis on debt reduction by most Canadians. We are borrowing less and saving more, and, hopefully, developing some more frugal habits that can lead to healthier finances in the future. Still, many people continue to struggle with their debt. It takes a firm commitment and a lot of discipline, but most people are only a few steps away...
Essential elements of a successfull estate planing Estate planning is a process by which you are called to make important decisions regarding the disposition of your property upon your passing, so that the liquidation of your succession is carried out without complications for your loved ones and in an organized fashion that is in line with your priorities and wishes. It is therefore important to devote some time to planning the transfer of your wealth...
If you’ve ever seen it, it’s one of those things you’ll never forget – the mass migration of hundreds of thousands of wildebeest moving across the plains of Africa in search of a fresh feeding area; it’s magnificent to watch.
How to Choose the Right Investment Advisor With the proliferation of investment and personal finance websites, investors have access to a boundless number resources and tools, once only available to financial professionals. And, while an increasing number of investors consider themselves to be at least somewhat self-directed in their investment decisions, the ever expanding world of investments and the increasing complexity of the financial markets require much more than a part-time approach to planning. With...
Determining Your Risk Tolerance Perhaps the most important factor in formulating your investment plan is your risk tolerance; this is the amount of risk you’re willing to assume in order to achieve your most important objectives. More precisely, your risk tolerance is based on the your financial and emotional ability to withstand negative returns on your investment portfolio. Before embarking on any investment strategy it is important to know your risk tolerance to ensure that...
Introduction Notwithstanding the war of words that broke out between the Canadian and U.S. leaders in the aftermath of the G-7 leaders’ summit, we still believe that U.S. President Donald Trump will not seek to shred NAFTA. The political blowback from states (including those that voted for him), businesses and Congress (members from both sides of the aisle) could overwhelm his administration. What’s more, a months-long legal battle would inevitably ensue over whether the President...
Taxes and Insurance for Canadian Snowbirds in Florida Would you like to spend the next few winters in Florida, or elsewhere in the United States, and return to Quebec in the springtime? Here is what you should know so you don’t have to pay taxes in the United States while still keeping your health insurance coverage as a Canadian snowbird. The duration of your stay Before hitting the road or catching a plane, you need...
Working after retirement and the related costs According to the Institut de la statistique du Québec, the employment rate among 65-year-olds and older has increased by 66% over 10 years. This means more than 10% of those in this age bracket are collecting various forms of employment income. This additional influx of money can impact your finances. Here’s everything you need to know before you start working after retirement. There are many reasons why you...
Traps to avoid with our investments Traditional finance takes for granted that each and every one of us adopt a rational financial behavior. Basically, what it means, is that everyone have access to the same information, at the same time and act at the best of their own interest. The research concerning behavioral finance are constantly expanding and allow us today, to discover new knowledge concerning the real behavior of the financial markets. I summarized...
Are Investors Their Own Worst Enemy? When it comes to investing, people can be their own worst enemy. Nearly all of the mistakes made by investors can be attributed to their behaviour, which is typically dictated by their emotions. Fear and greed have ways of influencing the investing decisions of even the most rational people; which is why most investors typically underperform the markets. According to a 2015 study by DALBAR, the returns most investors...
Allowances: How to manage them with your kids According to the latest studies, 30% of Quebecers give their kids an allowance. On the fence about giving your kids a small allowance? Read on to find out what parents and experts think. The ins and outs of allowances According to Hélène Hétu, budget counsellor at ACEF Rive-Sud, giving your kids an allowance is a personal decision. She stresses the need, as a parent, to first know...