Browsing Tag

Investing

Increase To TFSA Contribution Room For 2013

The Tax Free Savings Account (TFSA) was first introduced by the Canadian government in 2009. Each year Canadians aged 18 and over could contribute up to $5000 per year into their TFSA and not be taxed on any earnings made on their contributions.

The government recently announced, however, that starting in the year 2013, Canadians will be able to contribute $5500 rather than the original $5000. They did this in order to account for inflation. This is good news for Canadians as it allows them to invest a little bit more each year without having to pay tax on their investment earnings. This is especially good news for those of you who are using your TFSA in order to save for retirement or other long term goals. The more room you have to contribute, the more you can take advantage of the tax break on investment earnings over the long term.

November 29, 2012

Investing

Roth vs Traditional IRAs – Which Is Best For A Family On A Budget?

Retirement funding may not be the first thing on your mind when you’re worried about soccer practice basic meal planning and making it to the weekend, but saving for retirement now when your family is young – even if you’re on a tight budget – will ensure that you have a more secure future. While many parents are more concerned about saving for college than retirement, this is backwards thinking. Always remember: Your kids can find alternative funding for college, but no one is going to scholarship your retirement.

With that in mind, let’s talk about how you go about funding your retirement with an IRA. The main distinction here is Traditional vs. Roth IRA, and it can be tough to decide which is best for your family when you’re on a budget. Here’s what you need to know about the essentials of how these retirement accounts work and how you can choose which option will work best for your family.

April 16, 2012

Investing

The Three Timeless Rules Of Investing

We live in interesting times. Since 2008, the world has been mired in a global sovereign debt crisis for which there have been few historical precedents. The excessive creation of financial derivatives — to the tune of 1 quadrillion USD — are at the root of the crisis, with by-products being an abundance of insolvent nation-states, insolvent mortgage holders, and rampant price inflation leading to unrest and regime changes in the Arab nations with possibly other parts of the world to follow. Because of the situation, markets are becoming more volatile and investors are panicking more frequently.

February 23, 2012

Investing

What Is Forex Trading? A Guide For Beginners

Wine, gold, real estate and collectibles are popular alternative investments to cash and stocks. Trading currencies, or forex, however, is an investment gaining popularity among investors looking for alternatives to the volatile stock market. Here, we will look at how to start trading forex.

Warning: You should always seek professional advice before commencing with forex trading as it is a highly leveraged financial product which comes with risks. Never invest more than you can afford to lose. If in doubt, do NOT trade.

January 25, 2012

General

You Never Know – 3 Unexpected Events That Can Impact Your Finances

So much of life is made up of unexpected adventures that we could have never foreseen. That’s part of what makes life so exciting, but it’s also what can make it so stressful and unmanageable. You know what they say: “Even the best laid schemes of mice and men oft go awry.” That’s definitely the case with finances, when months of savings can be blotted out by a single auto accident or personal injury. You never know when you’re going to get stuck paying a mighty deductible on an insurance claim, or when you’re going to need expert bail because of a case of mistaken identity. Planning for the unexpected can help you to better deal with a stressful situation when it arises. Here are the most common wrenches that can be thrown in the clockwork of your finances:

January 12, 2012

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