How To Use Your RRSP To Boost Child Benefits

RRSP season is out in full force for Canadians and there’s just about 1 more week to go before the deadline. If you’ve been reading this blog you’ll know by now that the RRSP account has many uses. You’ll also know that the benefit of the RRSP is to defer taxes to a later date,…

What Inflation Can Do To Your Savings

Everyone hates high prices. The unfortunate fact of a growing economy is that prices need to rise over time. This increase in price is called inflation. Inflation is a necessary evil to a successful economy because of how humans behave. Let’s face the facts. We all like a good deal and when we buy things…

Is Your TFSA Not Looking Too Good?

Probably more misunderstood than Taylor Swift’s “Starbuck’s Lovers” lyrics, the TFSA account has had its reputation dragged through the mud the past couple of years. Ever since the Trudeau Liberals went on a crusade to bash the TFSA as a rich man’s tool to get rich quicker, the TFSA has been swept under the rug…

What Have You Already Missed This Year?

Remember Christmas time last year when stocks were getting pummeled and everyone was calling a crash that looked like 2008? Well guess what? If you sold everything you owned at that point you just ended up realizing missing out on over 10% in gains. That’s exactly how much the markets have rebounded since hitting their…

What Do I Need To Retire?

Contrary to the popular belief of many Canadians, collecting CPP and OAS isn’t quite enough to retire on. That’s because the maximum benefit for CPP is only slightly more than $1,100 and the OAS supplement is around $540. That means the maximum amount the government will give you when you’re wrinkly and retired is around…

Don’t Believe All The News

One of the hardest things I’ve learned while on my quest to achieving financial independence is how to avoid all the news. Everyday we are inundated by news articles stating the “facts”. Browse Facebook, LinkedIn or even look at the home screen on your Android phone and you’ll know what I mean. It’s not hard…