My financial advisor asked me for more money than the allowable contribution room of my TFSA, causing a CRA penalty. I did tell him that I could only contribute the $6,000, but he asked me for $28,500. I paid a fine of $2,000 to CRA. What happens now? Do I ask him to repay the … Read more

I manage my own investments and recently discovered they are still receiving the 1% that I thought I had stopped paying my financial advisor. I follow a buy-and-hold strategy with mutual funds and had been trying to avoid the 1% annual fee the advisor was charging for providing periodic reports. I learned that because of … Read more

In this analysis we review several couch potato portfolio models—specifically the advanced portfolios at three risk levels—and compare them with core balanced alternatives. The focus is on performance through September 2022, with an emphasis on how dedicated inflation-fighting assets have behaved during the recent inflationary and stagflationary period. CAGR refers to compound annual growth rate, … Read more

Overview 5 ways to build a portfolio Core portfolios Advanced portfolios The classic Couch Potato portfolio — a straightforward mix of global equities and Canadian bonds — has delivered solid long-term returns and remains a simple, effective approach for many investors. However, its simplicity can also be a limitation: it doesn’t always cover every economic … Read more

Overview 5 ways to build a portfolio Core portfolios Advanced portfolios Option 1: Tangerine Investment Funds Tangerine, the online banking arm of Scotiabank, was one of the first Canadian providers to offer straightforward, low-cost index mutual funds. (Full disclosure: I worked as an investment advisor and trainer with Tangerine from 2013 through 2018.) Tangerine’s offerings … Read more

Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, summarizes recent financial headlines and provides context for Canadian investors. U.S. earnings remain strong While many analysts expect corporate profits in North America to slow sometime over the next year, current quarterly results still show resilience. Below are highlights from a … Read more

Michele Romanow, co-founder and CEO of Clearco, is the kind of entrepreneur who defines persistence. Fresh out of university, she found herself waist-deep in building a commercial caviar fishery in New Brunswick. The venture grew quickly—until the 2008 recession arrived and reshaped everything. Since then Romanow has launched multiple companies, earned numerous awards and become … Read more

Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, reviews recent financial headlines and puts them into context for Canadian investors. Bad news can be good news for Canadian investors Talk of central bank moves has dominated markets this week. In the strange world investors have created, weak economic data … Read more

For retirees and those nearing retirement, five major risks can jeopardize a long, comfortable retirement: taxes, investment fees, volatile stock markets, rising interest rates and persistent inflation. You can largely manage the first two risks by maximizing the use of tax-efficient vehicles such as TFSAs, RRSPs and RRIFs, and by avoiding high-fee investment products. Market … Read more

I am in my early 50s, have a steady job, I’m not a big spender, and I make RRSP contributions. Why would I need a financial plan? I don’t see how it could help me.—Tom What is financial planning? That’s a great question, Tom. At its core, financial planning is a way to manage change … Read more