Debt is relatively common in life. In 2019, 73.2% of Canadians had outstanding debt or used a payday loan. And if you feel like your debt is too high, you're not alone — 31% of Canadians believed they had too much debt.
"Worst 6 months in the US markets in 30 years" / "First time in decades both equity and bond markets are selling off"
Before you start planning a new vacation or purchasing a new toy with this year’s tax refund, it’s wise to consider investing it, with the world markets down year to date. When markets are down, it’s a great time to maximize your refund and set yourself up for the future by averaging into your investments. We recommend you consider three alternative options to utilize your tax refund before planning that trip to Mexico.
Risk and reward are woven through many decisions we make on a daily basis. If you are running late to a business meeting are you willing to speed to get there on time? The risk is increasing your speed which increases the risk of an accident, but the reward is arriving on time. Risk and reward are similarly approached in the investment world, there are different investments that habitually have different risk profiles. Depending on personal circumstances, short and long-term goals, and other factors the risk of your portfolio should be suitable.
Starting to invest may seem like a daunting task - there are many options on how you can approach it. Once you have identified that you personally have the ability to invest there are a couple of main avenues you can explore based on several factors such as: size of account, fee preference, and advice needed.
Here’s how to become a successful investor.
The opportunity to invest in the 21st Century world is everywhere – Instagram posts about making millions on investment option strategies, or TV commercials about opening a stock trading account – where does an individual start?
Make your money work for you.
Let’s take a look at the average working individual. Most days are filled with day-to-day work, meetings, personal and professional planning, and other opportunistic events to advance one’s career. During these days, a call from your investment professional may get lost in the noise of day-to-day work tasks.
A financial plan is a great living document that we use at Matco to help guide our clients through their life cycles, and ultimately, give them peace of mind for their retirement. Another great option is walking through the retirement calculator on www.Matcofinancialinc.com.
It is easier to invest today than at any other time in history. From radio commercials about investing in Bitcoin to social media ads of opening a stock trading account in minutes – access to the investment industry is right at our fingertips. However, we must take a step back and understand whether or not now is the right time to invest.
Successful investing takes time and patience, it is not a get rich quick situation. Investing should be considered throughout different life cycles, the way you invest in your 30’s should be different than in your 60’s. Understand that with life’s changes, your investment portfolio should develop and grow to accommodate changing financial goals and circumstances.
There is a Chinese proverb that states “the best time to plant a tree was 20 years ago. The second-best time is now”. The same is true for tax and financial planning, the best time to plan was in the past – but it is never too late to structure yourself correctly to keep as much of your income in your pocket rather than sending it to the Canadian government.
Throughout the Covid 19 pandemic, household debt has continued to rise throughout Canada. Canada has been the poster child for a high household income to debt ratio for years, with many economists focusing on the long-term effect of low interest rates.
Working from home has become a regular occurrence through 2020 and the COVID-19 pandemic. Adoption of the home office has been a difficult transition for some companies and seamless for others.
Working from home has become a regular occurrence through 2020 and the COVID-19 pandemic. Adoption of the home office has been a difficult transition for some companies and seamless for others. Working from home has reached a point for some companies with productivity at highs and more of a focus on work-life balance, that the prospect of moving back to a full-time office may never happen.
2020 has been an interesting year to say the least. A global pandemic, the fastest bear market in history, and increasing unemployment or salary cuts. If you are thinking about topping up your RRSP this year but do not have access to liquid funds other than your TFSA, there may be a strategy that can work in your favour.
In the current economic environment, buying GICs can feel like making a deal with the devil. With interest rates at lows, with little to no projection to increase in the near term, what is the real price you pay to guarantee and lock in your return?
Have you ever hit the road heading to a place you have never been without a map? Or arrived at the airport with no idea of your destination? Setting goals and building strategies to reach them are elements of successful behavior.