Personal Finance

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10 Tips for Canadians to Avoid Overspending During the Holiday

Christmas holiday is filled with joy and peace. It should be the moment where families and friends get together. However, rather than just spending quality time together, many Canadians often overspend their savings during the holiday season. According to an article from Global News in 2015, 58% of young Canadians between age 18 to 24…

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2016 Year-End Financial Strategies For Canadians

As we are approaching the end of 2016, most of us are probably focused on Christmas shopping, holiday parties and New Year’s festivities. However, this is still time to implement any final financial strategies that could help put more tax dollars back in your pocket. Here is a list of financial strategies that we obtained from the…

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Financial Products Should Not Be Forced To Be Tied Up Together

Many long-term readers probably know by now, I’m licensed in Ontario to assist my clients on multiple aspects of their finances, this includes to plan for their investments, mortgage and insurance coverage. Having broad spectrum of knowledge allows me to understand a lot more about the ins and outs of the financial industry. From time…

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KISS Your New Year’s Resolution

Happy New Year and Welcome to 2016! I always love this time of the year. Everything starts fresh, and I’m setting my goals for the year. Last year was a tremendous year for me, I obtained my mortgage license and was able to help out many of my existing clients. I learned a lot more…

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Tax Return For RDSP

10 Ideas To Put Your Tax Refunds Into Good Use in 2017

1) Build Up Emergency Savings We could anticipate regular expenses (i.e.: mortgage, car lease, groceries), but there are many others that could arise unexpectedly (i.e.: Car is broken down, furnace of the house suddenly not working).  There are also unexpected events which could stop you from generating income. For example, sickness, injury or simply got…

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10 Questions That Lead To Financial Success

1) What is your financial goal? Sample Answer: Accumulate savings so there will be enough lifetime income to retire 2) Why is it important for you to achieve this financial goal? Sample Answer: Achieving financial freedom so I could have more resources for my family and more time to do what I have always envisioned doing. 3)…

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What It Cost To Procrastinate In Making Financial Decision?

Yesterday, I did a financial workshop for the YMCA Business Center. One key idea that I emphasize is not about any of the financial strategies, rather is the human psychology when it comes to making financial decision. Although, I’m not a  psychologist, I do find that there is one particular problem which are very common…

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How To Build An Investment Portfolio That Aligns With Your Goals?

We’ve been talking about the importance to build a diversified portfolio for quite some time, but how do you determine what kind of investments should be included? and what’s the weighting of each asset class? To find out, there are many factors needed to be considered. For example, your investment duration, risk tolerance, the stability…

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RRSP Deadline and Contribution Limit for The Tax Year 2013

February is always the busiest season for my advisory practice, that’s because the RRSP deadline is the first 60 days into the new year. If you are planning to make a contribution, remember the RRSP deadline is March 3rd, 2014. You could still deposit into your RRSP afterward, but to make that contribution tax deductible…

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Importance to diversify

Can You Really Time The Investment Market?

Last Monday, I did a workshop on personal finance for self-employed professionals at the YMCA. It was a great turnout! We have attendees from across different industries (i.e.: health, beauty, flower shops, computer repairs and many others.) As we are approaching the deadline to make the RRSP contribution for the tax year 2013, I received…

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