Nobody likes to pay banking fees. But most monthly service charges can be waived if we sign up for additional accounts/services, or keep the minimum monthly balance in the account. (eg: maintain at least $1,500 in a Bank of Montreal chequing account to waive the $4 fee.) My personal account is with TD Canada Trust, which charges $3.95/month unless a minimum balance… Read More »
When it comes to successful investing the guidelines are pretty straight forward. Start as early as possible and do it often, because compound interest is one of the greatest discoveries known to mankind. Match the markets and don’t try to pick individual winners and losers. Index investing is the way to go for a majority of people out… Read More »
While GICs bear certain similarities to other investment products like mutual funds, bonds, CDs, and time/term deposits, they remain distinct from other types of investment vehicles. So what is a GIC? A Guaranteed Investment Certificate is a financial product, usually presenting virtually no risk to the investor’s principle, with the potential for returns. Minimum GIC investments usually start… Read More »
Looks like a merger is on the menu for Burger King 🙂 It’s currently in talks to merge with Canadian company Tim Hortons and move its headquarters up here to Canada 😀 Tim Hortons is a quick service coffee chain that has a strong Canadian identity. Here’s a drive thru window at a typical Tim Hortons. Last year I blogged… Read More »
The level of financial risk we can tolerate depends on our savings: The less money we have the more risk we can afford to take on. If you have worked with a financial advisor before then you’ve probably seen a risk tolerance chart like the following. Each portfolio from A to D represents a different risk tolerance of… Read More »
There’s a saying that younger people should invest more in equities (stocks) and older people should buy more bonds. Some like to use the “100 minus your age” rule to determine asset allocation. Start with the number 100 and subtract your age. The resulting figure is the percentage you should allocate to equities, and the rest should be invested in bonds. For example… Read More »