Compound interest is a common term you hear when it comes to investing. But, what exactly is compound interest, how does it work, and how can you best take advantage of it? I’m sharing what you need to know in this compound interest explanation. Compound interest definition So, what is compound interest? Compound interest is [...]
I’ve worked with a handful of financial advisors over the years and I can honestly say I’ve never had a relationship with any of them until I connected with a fee only financial advisor. This shouldn’t be too surprising as many financial advisors (who are associated with a bank or investment firm) don’t exactly have [...]
The best high interest savings accounts in Canada just got a new player as Laurentian Bank has just launched LBC Digital, an online bank that helps Canadians improve their financial health. Like many other digital banks, you’ll pay no fees and get a high interest rate which is currently at 2.25%. This is one of [...]
When it comes to affordable investing, robo advisors just might be the way to go. They offer an easy, low-cost option for investors of all levels of experience. WealthBar is one of Canada’s original robo advisors. They’re based in Vancouver, BC and have recently partnered with CI Financial which is the largest independent asset manager [...]
**This post contains affiliate links With Canada having some of its lowest interest rates in the last decade the thought of a high-interest savings accounts in Canada may seem absurd. To complicate things, there are so many different banks in Canada and they all have various accounts that come with different features. If you're not [...]
Timeshares used to be all the rage. For a reasonable price, you can visit the same (or sometimes different) exotic location every year and have a spot guaranteed for you. Well, at least that’s what they tell you during the sales pitch. But are timeshares worth it? The short answer is no. Timeshares are often [...]
Should you get an RRSP loan? That’s a question that I’ve been getting a lot as of late. At first, I was like this is a very specific question for new investors to be asking, then I realized that banks advertise RRSP loans all over the place. They make it sound like it’s an excellent [...]
Your podcast feed and Youtube stream are often interrupted by promises of dreamy retirements and passive-aggressive shaming about how you really need to get started saving. Yup - it must be “RRSP season” again. I have never liked RRSP season. There is no logical reason why the date for which you can “count back” RRSP [...]
If you didn’t know, the 2020 GTA Home and Reno Show is happening from February 14-17, 2020 at the International Centre in Mississauga. It’s now formally known just as the Home Show and features more than 300 vendors and speakers including investment coach Irene Lee, who has built a significant portfolio for herself and others with [...]
Although registered retirement savings plans (RRSP) have been around for more than 50 years, many people are still confused about them. Understanding the basics is one thing, but people often struggle when deciding between using their RRSP vs. TFSA. To complicate things, there are many RRSP mistakes that you can make. That can be something [...]
