Category " Financial Planning"

A university education is a worthwhile investment — and an expensive one. Most students need some form of financial help to be able to attend university. “Twenty-five or 30 years ago a student could earn enough through summer or part-time jobs to pay their way through university, but that is not often the case today,” [...]

Congratulations — you have graduated from university. However, your excitement about graduating may quickly be tempered by the realization that you must soon begin to repay sizeable student loans. “A student loan is not free money; you have to repay it,” says Chartered Accountant Joel Podbere, Senior Manager, Assurance & Advisory, with Soberman LLP in [...]

Every year, the federal government gives out about $4-billion to help businesses develop new products and processes. About 25,000 companies make claims, but there are many more that probably could – and would – if they knew where to start. That’s not all! Chartered Accountant Brian Cookson, a partner with RDP Associates Inc. in Toronto, [...]

When it comes to determining the best type of savings account or plan, you have a multitude of options. “To help you sort through them, the first thing to do is to determine the intended purpose of your savings program, the amount you will have consistently available to save in a disciplined fashion, the term [...]

Many of us spend more time planning our next vacation than arranging our finances for the rest of the year, never mind the rest of our lives. “Your personal financial plan is a road map to get you where you need to go,” says Chartered Accountant Gordon Higgins of Higgins Investment in Toronto. “It starts [...]

In today’s world, the pressure to spend can be overwhelming. But saving money, even if you don’t have much of it, is key to your short- and long-term financial well-being. Here are some tips to help you get started. Be proactive – “Make saving a habit, even if you don’t have or make much money,” says [...]

You may dream about retiring early, but how do you know if it’s right for you? And how do you accomplish it financially? Here are some tips on how to achieve a successful early retirement. Don’t just focus on the financial aspects of early retirement – “People tend to focus on how much money they will [...]

Ever wondered what life would be like without taxes? Well, in Canada, a Tax Free Savings Account (TFSA) is about as close as you can get. “It doesn’t get better than this,” says Chartered Accountant Tina Di Vito, Vice President and Director, Retirement Strategies with BMO Financial Group in Toronto. “In a TFSA, growth is [...]

Groceries, housing, transportation – it’s hard to make ends meet when you don’t make a lot of money. But no matter what your income, it’s important to set aside a little of what you earn. Here are some basic tips on how to save money and plan for the future. Understand why you need to [...]