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Personal Finance in a Low-Interest Era
The Agenda with Steve Paikin welcomes financial planner and tax estate expert Rona Birenbaum about how low interest rates effect personal financial decisions.
Planning ahead financially could help new or expecting parents breathe easy
The financial costs of raising a newborn can easily turn a happy occasion into a great deal of stress for expecting or new parents. For financial advisors who have clients at this stage of their lives, helping them plan their finances early on in the process could set them up well for what’s sure to be a very overwhelming time.
40% of Canadians largely use TFSAs as simple savings accounts: Ipsos poll
The tax-free savings account (TFSA) turned 10 this year — and it has come a long way. More than 40 per cent of Canadian families now have one, according to the latest tally from Statistics Canada.
City dwellers could be tempted to treat their house as a retirement plan. But what happens if they don’t want to move when they’re old?
A survey of young professionals by the Toronto Region Board of Trade in 2017 showed 83 per cent surveyed believed the high cost of housing in the area was impeding their ability to save for retirement.
3 tips to get family finances back on track
This back to school season, get the kids on schedule, while teaching them—and reminding yourself—about money management.
Downsizing to one car from two can do wonders for retirees finances
As terrible as it for your finances, owning two cars is often unavoidable. Take two working parents, add kids and you have a strong convenience-based case for paying the many costs of owning and maintaining a pair of vehicles. Add a home in the suburbs and the argument gets even stronger.
Financial advisors warning clients about the perils of living longer
One of the biggest concerns investors have is outliving their money – and it’s often their financial advisors who tell them if this fear could become a reality. This discussion is more challenging today due to volatile stock markets, low returns for fixed-income products and a more precarious labour market, including the trend toward contract work and away from jobs with defined-benefit pension plans.
Who wants the government’s new mortgage incentive?
After tightening mortgage standards to rein in over-borrowing, the Trudeau government says it wants to help young people get the keys to their first home. The new First-Time Home Buyer Incentive (FTHBI), first announced in the federal budget, is set to roll out on Sept. 2, just weeks before Canadians head to the polls in October. This week, Ottawa finally clarified how the incentive is going to work, and the question is: is it a good deal?
Four ways advisors can help business owners transfer their business
“A big part of it is helping clients visualize what’s next,” says Rona Birenbaum, certified financial planner and founder of the Toronto-based fee-only financial planning firm Caring for Clients. “For entrepreneurs, it’s not just their careers, their business is like their baby. There has to be a plan for replacing it.”
6 unexpected costs when having a baby
Financial experts weigh in on how to plan your budget around surprise expenses for new families.