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Investing

What Do You Use Your TFSA For?

The Tax Free Savings Account (TFSA) has been around for a few years now. A TFSA can be used for virtually any type of savings goal. So, what are you saving for in your TFSA?

When TFSAs were first introduced in 2009, my husband and I each opened one up immediately. We had very little knowledge of how we could use them, but we were attracted by the feature of not having to pay income tax on any interest we earned on the accounts.

Consider investing – As time progressed and we learned more about the TFSA, we bought some investments within our TFSAs, as we realized that we could save for longer term goals within these accounts, too, not just short term ones.

Open more than one – We also discovered that we could open up more than one – by doing so we could save for different savings goals in different TFSAs, eliminating confusion.

November 6, 2013

Investing

Investing 101: Top 5 Investing Rules You Should Know

When it comes to investing your money for the future, many questions arise. Where do I invest my hard-earned money? How should I go about saving for my retirement or my children’s education? If you follow a few simple steps, you’ll find the answers to these questions and more. So, make goals for yourself and watch the money roll-in.

1. Make a Plan/Set Goals

Description: http://farm8.staticflickr.com/7060/6870886851_76c9703cca.jpg

Image via Flickr by 401(K) 2013

Making a plan before you start investing is a great way to pinpoint exactly what you wish to achieve. If you’re planning for your kids’ future or your own, it’s important to know where you presently stand. Make sure to calculate your debts, assets, and savings to see what you have available to invest. From the information you gather, you should give yourself a decent idea of where to invest.

July 24, 2013

Investing

What Can Investing In Stocks Do For You?

For many people the stock market is one of those things that they have no interest in and they assume that you need money to actually make money with it. Just know that the stock market is something that anybody can use and if done right you can make a lot of money.

Let’s set one thing straight right now though, the stock market is not a get rich quick scheme. If you have a lot of money in the stock market, then you can make a lot of money fast and you can lose a lot of money fast. Now, if you only have a few hundred dollars, then you have just as good of a chance to make money but it will take you a little bit longer. This is where you want to be. If your goal is to double your money within 3 years, then that is a great goal.

So, what else can stocks do for you?

Stocks are a great way to put money away. This is similar to that of a savings account, however, you will normally get a higher return on your money and you also run the risk of losing your money. This is why some people don’t feel the stock market is right for them. Trust me, the stock market is a great place to put at least a little bit of money. I understand you don’t want to lose it, however, just think about what it will be spent on if you have it sitting in a savings account.

July 3, 2013

Investing

The Benefits Of Mobile Trading

In the 21st century, people have a new way of interacting with each other and making personal and business connections. This reflects on mobile trading success among traders across the world.

Any company that provides trading platforms for binary options that is respectable and trustworthy should have a mobile trading app. One of the leading binary option companies that already does have a binary app is any option mobile app. The app is simple, easy on the eyes and most importantly, it suits everyone regardless of their trading ability.

June 2, 2013

Investing

A Different Kind Of Account Terminator

There exists an issue that actually adversely affects trading accounts but is hardly ever mentioned. The practice of trading is something that is quite aggressive. It pits a person against the entire world- and challenges him or her to survive.

This can be particularly difficult when a person is trying to divide time between trading and all the other things that are permanent fixations in his or her life. It is a fact that trading requires serious concentration. Sometimes, it even calls for the trader to keep thinking about potential trading issues when he or she is involved in other things or endeavors; for example when one is attending to family matters. If a trader is not careful, all the combined demands in his or her life, along with trading, will result in a sort of mental overload.

This can be very dangerous because it will directly affect how the trader views potential trading issues. This does not come immediately. In fact, there are few traders who even realize that they are overburdened with responsibilities. This is because the mind does not actively let an individual know when he or she is stressed with too much responsibility. It just starts to ‘rescue’ him or her from themselves without their permission because it senses that they will be unwilling to give it permission to slow down even if they were aware of the situation.

May 12, 2013

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