Registered Accounts Part 2: RRSP

To see a TFSA and an RRSP open in a client profile made me happy.  (Until I discovered the funds sitting in the savings portion) These plans work wonders together in an effort to be financially stable. There are more strict rules with the RRSP because if it’s ultimate goal: retirement savings. If you withdrawal…

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Registered Accounts Part 1: TFSA

I want to introduce you to registered accounts. Registered accounts are investment accounts linked to your social insurance number (SIN). The two I am going to introduce you to are the Tax Free Savings Account (TFSA) and the Registered Retirement Savings Plan (RRSP) in my Part Two. Back in 2008, if you were a Canadian…

Word of the Day: Jealousy

‘Should I buy a house or should I buy a condo?’ As I sit in my office staring at my client, their finances on my screen in front of me, I felt a stinging feeling. The stomach ache you receive after the cold stab of jealousy.  Seconds before sending Simba on her. JOKES! I look…

What Do I Choose?

I am by no means a mortgage specialist. The housing market in Ontario is eclectic to say the least. I used to work in a city that clients brag all the time about the value of their home. Better yet! I can recall a client was mad at me that I appraised his house value…

What’s a Mortgage and What is the Best Rate?

MORTGAGES come in all shapes and sizes. This is could possibly be one of the biggest debts of your life. I notice quite often when clients humbly brag about the value of their house. That inflated million dollar price range.... Do you actually own a million dollar home when your mortgage is $600,000? Mortgages can…

What Am I Paying For?

This has been a common misconception when it comes to investing… The other misunderstandings of investments are the fees associated to it. In my experience I have never had a customer ask how much it costs. Part of my mandate was to explain the fees, and half the time I am not sure if the…

Are you Ready to Invest your Time?

I can’t begin to tell you how many times clients told me they didn’t want to invest because they didn’t want to lose money. After asking my clients what their investment objective was, they always replied ‘to make money’. Who doesn’t?? Clients would put money aside into a non-registered or REGISTERED account thinking that they…

First One, But Not The Last

Have you ever thought that you had more money in your bank account? Would knowing you had more money make you feel better? "Well of course, who wouldn't?" In my experience, money creates more problems than it solves. Money feeds the greed of the deprived human beings not lucky enough to have spare money after…