Mainstream media is full of fake news

Few realize the extent to which the financial establishment uses fake news to fool the public

Mainstream media is full of fake newsAccording to a growing army of critics, the mainstream media is unintentionally circulating fake news. Globe and Mail editor Evan Annett believes fake news has become a serious problem. Why? Because it's "media that’s custom-made to fool you." Establishing the truth of a news story is difficult enough, but with the rise of social media,…

Comparing investment returns is a tricky task

Each investor is unique in their goals and personal risk tolerance, so their investment portfolio should be customized to their situation

Comparing investment returns is a tricky taskYou worked hard for your money and, in turn, your money should be working hard for you. However, when comparing returns, you need to be sure you’re making a fair comparison. Investors often compare their returns to that of a published benchmark such as the Toronto Stock Exchange (TSX), or to the returns their friends…

Concerns over household debt in Canada are overblown

The drop in interest rates has been so significant that the interest burden of servicing debt has declined as a share of income, despite growing household debt

Concerns over household debt in Canada are overblownWith headlines  about Canadian household debt hitting record levels and dire warnings from top policy-makers such as Bank of Canada governor Stephen Poloz, Canadians may think household debt is out of control. The concerns, however, often fail to properly account for the other side of the balance sheet. Yes, Canadian households have taken on more…

Who benefits from an expanded CPP?

The government? Likely. High earners? Definitely. Middle-income earners? Unlikely. Low-income workers may even see a reduction in overall benefits

Who benefits from an expanded CPP?As recently as June 2016, the federal and provincial finance ministers agreed to expand the Canada Pension Plan (CPP). It's so recent, in government terms, that many of the details of benefit entitlements, costs and investment criteria still aren’t known. But it’s been long enough for deep thinkers on matters of social security to delve…

Managing your investments over the short and long terms

Investors often purchase investments that don’t suit their intended time frame. Do your homework, know your risk tolerance and be clear on your expectations

Managing your investments over the short and long termsWhen it comes to comparing your investment returns to others, make sure you’re comparing the exact period and investment transactions. Published returns for any investment are based on a single investment over a given period. This isn't the way most people invest, so their returns are often much different than the published numbers. The timing…

Maximizing the tax free in your TFSA

To get the most out of your TFSA, it should likely not be used as a short-term savings account. It should be an integral part of your long-term financial plan

Maximizing the tax free in your TFSAMost people have heard of tax free savings accounts (TFSA) but many don’t use them to full advantage. A big reason is that many people incorrectly assume that a TFSA has to be invested as a saving account, similar to a bank account. In fact, a TFSA can hold almost any type of investment. Yet…

Canadian students get top marks in financial literacy

It's important to start talking with your kids about money early and to do it often. The Financial Consumer Agency of Canada can help

Canadian students get top marks in financial literacyWhen it comes to financial literacy, Canadian youth are among the best in the world. That encouraging finding is the result of the first-ever Canadian participation in a global assessment of youth financial literacy. Canada came second among 15 countries – tied with Belgium – in the Programme for International Student Assessment (PISA) on financial literacy, recently…

The financial road less travelled still offers a trustworthy route

Control your own financial destiny by doing your homework, finding boutique advisers and using your TFSA to its maximum potential

The financial road less travelled still offers a trustworthy routeMost people spend more time mowing their lawn than they do managing their money. That may sound harsh, but the majority of people have ceded their investment decisions to the army of financial advisers employed by big banks. Employees in Canada's big banks “are pressured to up-sell, trick and lie to customers to meet unrealistic sales targets…

Get control of the financial stress in your life

The Financial Consumer Agency of Canada's publications and resources offer a broad range of useful financial information

Get control of the financial stress in your lifeOTTAWA, Ont., May 1, 2017 /Troy Media/ – This is Mental Health Week in Canada, an excellent opportunity to reflect on, learn about and discuss issues related to mental health. One such issue is financial stress. According to the 2014 Sun Life Canadian Health Index, the top three reasons for stress are finances – specifically, personal…

Your financial adviser’s interests may not align with yours

Do your homework. Look with a critical eye at your service providers. After all, it is your money

Your financial adviser’s interests may not align with yoursThe tax free savings account market continues to be a great unknown for many Canadians and the big banks apparently aren’t helping. Recently, I asked readers if they were among the six million Canadians with the savings accounts known as TFSAs, and if they truly understood the value those accounts represented – and the flexibility they offered investors. “The pitiful…