Roger and Linda are approaching their retirement. With continuing volatility in the markets, they are concerned about what effect a market downturn in the few years leading up to or just after retirement would have on their income. They also think that GIC investments would not protect their retirement income very well from inflation.
The Tax-Free Savings Account (TFSA) was introduced in the February 2008 Federal Budget and will be available January 1, 2009. It is touted by the Government of Canada as 'the single most important personal savings vehicle since the introduction of the Registered Retirement Savings Plan (RRSP)' in 1957. As always, there are some rules:
It's been a long and volatile quarter in the financial world. Markets are taking most investors on a wild and sometimes frightening ride, the news about corporate failures and bailouts is confusing and the economic news is almost certainly disheartening.
As some in the media eagerly seek to assign blame for the current stock market turmoil, others are predicting a global doom reminiscent of the 1930s.
Our parents raised us; we moved out, had children of our own and raised them. Then our children moved out and had children of their own to raise. It was supposed to stop there for us, but then one day we had to look after one or both of our parents.
You may not be ready for this. Despite all you may have heard, term life insurance is not better than permanent life insurance! And whats even more confusing, permanent life insurance is not better than term life insurance!
Now that summer has officially arrived, many of us start to think about home renovations, garden projects and summer vacations. But while we often know what we want to accomplish, sometimes we are not sure where the money will come from. If you're planning for a large expense this year, consider some of the following issues:
Budget management
