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Occasional smoker: whaz the big deal?

on Thu, 10/09/2014 - 10:12

I was reading my twitter feed early in the morning as usual and came across this news article: "Colorado pot shops trying to make things easier for first-time users"

In the article, it states one thing, which makes me feel extremely uncomfortable: A market study released in July suggested 40 per cent of customers in Denver-area recreational marijuana shops are tourists. That figure spikes to 90 per cent in ski towns such as Aspen or Breckenridge.

And they are right!

Solution! - Giving Birth In Toronto Without OHIP

on Mon, 07/07/2014 - 19:25
*Updated May 30, 2016
I get enquiries from time to time on non-residential pregnancy cases, but the last few months I had way more than what I had received before. I want to make sure we are all on the same page: pregnancy is better well planned and well-prepared than accidental or as a surprised incident.
 
As a financial advisor, family planning is always one of the main thing we look at when we strategize our financial future. Not to mention there are costs around raising a baby, more money spent when the kid needs to go to child care, summer camps and educational costs down the road.

Back up plan

on Sun, 06/08/2014 - 08:45

**I was writing this bost post in the morning and was shot to see this tweet from @680news :(

If you are a healthy person in general, you might not think of insurance unless you drive or you own your property. We buy auto insurance because it is the law to have that coverage; we buy home insurance, mostly, because we have a mortgage and the lender requires us to get that coverage. Imagine if you don't HAVE to buy those coverage. Other than "oh yeah, we save lots of money", have you thought of what would happened should you get into an accident and hit someone?

A real life experience: my

What does negative deposit rate means?

on Thu, 06/05/2014 - 08:40

The European Central Bank cuts its main interest rate to 0.15%, slashes the deposit rate to -0.1%. What does that mean?

Does it mean people keeping money in the bank are going to pay the bank for it? Well, technically, everyone IS paying the bank for having their money there (bank fees). What it means on a negative deposit rate in a financial system is that, the Central Bank is going to charge all the banks with excessive cash on hand, so that they will push their cash and start to lend again.

How to figure out what health coverage you need?

on Wed, 05/21/2014 - 10:25
I have been chatting with some prospects on their needs on health coverages lately and found that a lot of them actually have no clue what "health insurance" consist of.
 
In the insurance world, "health insurance" normally referred as "living benefits". That includes: health & dental coverage; critical illness coverage; long term care coverage & disability coverage.
 
Let's drill down what is what.
 
Health & dental coverage is what we usually need day in and day out: when we get sick, the doctor gives you a prescription, you go to the pharmacist, you have to pay for the medication;

How do I save when I have no money left?!

on Tue, 04/08/2014 - 20:20

Isn't this a line you have in your head when your financial advisor suggests a saving plan for you? If you don't have a financial advisor, isn't that a line you have in mind when you read stories on how people managed their finances on the paper?

Yes, it does sound impossible when you have no money to SAVE. How? I mean, seriously, HOW?

Here is how: Pay Yourself First

This is an old rule but it is the golden rule that works. Treat yourself as a bill payment that you cannot afford to skip (like a mortgage payment). Put all expenses down including yourself and then create a budget.

Lots of

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Tax reporting tips

on Thu, 03/27/2014 - 20:22
*Updated 4/5/2017
 
At this point, everybody is busy gathering all their T-slips for tax filing.
 
As mentioned before in this post before, other than waiting for your company to give you your T-slips, you can log into your Service Canada and see if you find anything there.
 
After all these years, I found most people are still not too sure what they are expecting to receive for their tax. I had received quite some inquiries from clients regarding their T-slips.
 
RRSP
- There are NO T-slips on RRSP accounts, do not expect any tax documents on RRSP accounts unless you make changes
-

How to make sure you have an enjoyable trip

on Sat, 03/08/2014 - 14:57
*updated on June 12, 2016
Spring is around the corner, we are pushing our clock an hour forward again. After the brutal winter we had, I am sure everyone can't wait to go out, stretch their legs and plan for a vacation.
 
I did a previous blog post on different kinds of travel insurance. Now let's explore why do we even want to consider it.
 
Travel insurance, again, consists of two major parts: one insures the people who are traveling; and the other insures the trip cost should the people can't go or have to come home in the middle of the trip for certain reasons.
 
This article,

What does 2014 budget means to YOU?

on Wed, 02/12/2014 - 14:44

As a layman, big plans get to us slowly, this budget the government delivered had some small plans for us.

1. Canadians no longer have to "apply" for GST/HST credit on tax returns. CRA will calculate for us "automatically".

2. Stopping banks from charging to provide credit card bills in the mail, that might expand to wireless phone bills too.

3. Income split to minor more flexible

4. Lowering credit card costs for businesses & increase transparency on merchant fees.

5. New innovation fund & youth employment program, together in "helping" to match older workers in job matching to keep

When is the best time to kick in my CPP?

on Sun, 01/05/2014 - 13:15
I have been chatting with a lot more baby boomers in the last couple of years, as more clients refer their parents, aunties and uncles to me. A portion of them had already retired and some of them are approaching retirement age. One of the common mistakes I gathered from the seniors I talked to, is kicked in their CPP way too early. You might ask: what do you mean? Don't you start your CPP at age 65? Normally, yes. However, not too many people know that you can actually choose when to kick in your CPP.
 
Then, the next question arise: why do I want to delay in applying my CPP?

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