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Consolidating your portfolio

on Mon, 02/27/2012 - 22:30

As we are approaching the RRSP deadline, I have been helping my clients to decide where to invest (of course, that's exactly what a financial advisor does!!) I have been asking my clients to show me their other investments and pension plan (which is not under my management), so that I have an idea what they have already in their portfolio, so that when we decide what investment to buy for their RRSP or TFSA, we won't be overlapping the kind of investment they have already (when you are holding the same kind of investments under a few funds, we call that highly correlated). That happens quite

Alternative ways to fund education

on Sat, 02/18/2012 - 13:52

Got quite a few of questions whether to contribute into RRSP or TFSA all the time (classic question), but then I am getting more questions on whether or not to contribute into RESP as well (another classic question), of course, there is no one answer fits all because every family has a different situation.

I have met a few families lately, they have either missed the opportunity to contribute into RESP, or they do not need to do a RESP plan (they will get free tuition, NICE!!), as much as I think getting free money from the government is the better way to go, that wouldn't work for these

Every story has 2 sides

on Tue, 01/31/2012 - 10:04

It is a very interesting morning… 680news featured on 2 pieces of news regarding Holiday spending… One says: RBC survey found 31 per cent of Canadians spent more than intended during the holidays; the other one says: majority of Canadians managed to keep their holiday spending in check

 

The 2 pieces of news are actually came from the same source, the same survey by RBC, which the press release titled "RBC Poll finds most Canadians stayed on budget over the holidays". As you can see, the same story can play different angles, all depends on how the report/editor wants to present it.

 

I

What is my CPP going to look like?

on Fri, 01/27/2012 - 16:31

I have been asked quite a few times in the last 2 weeks regarding how to get information on personal CPP... So I decided to put up a blog post on it :)

Some people might ask, I am nowhere close to retirement, why do I want the information on my CPP? Why do I care? Yes, you do... Retirement planning is a long term strategy, you definitely don't want to look into that until you are 2 years away from your retirement.

What can small businesses learn from Kodak?

on Thu, 01/19/2012 - 15:18

So, Kodak has finally filed bankruptcy…. as much as I feel sad, it is not surprising that it has been struggling for quite a few years…

 

What can small businesses learn from Kodak?

 

Kodak invented the first digital camera back in the 70's, com'on, that's innovative. But not able to follow through is their big mistake. We have to accept that sometimes we do go a few steps ahead compare to the mass market. Slowly and surely the mass market will follow.

Building small business owner's new family

on Mon, 11/28/2011 - 09:51

You know how small business owners usually report very low income, so that they can pay lower tax...

Here is my experience on a small business owner that I want to share:
 
I met this small business owner in 2005 and he owns restaurants in Toronto, normally he has about $5000 income from the business for his daily expenses, and any retain earnings is used to set up the next restaurant. 
 
However, he reported only about 12k income for himself and his wife. They rented a house in Scarborough at the time. 
 
We started to look into his finances and of course he has no problem meeting his

A response to an article from Globe Investor

on Wed, 11/16/2011 - 08:06

Was reading tweets from Twitter and saw this tweet from Globe Investor.

I feel so attached because I feel exactly the same way. Read the article: Terrible financial advice – available at a location near you

I can say I truly started my career as a financial advisor was when I was a back office administrator. I had my insurance and investment fund licenses but I don't think I utilized them as much as I should have at that time. Anyway, at one point, I was partnering with another broker in the industry and a leverage program was the only product he pushed.

Common questions small business owners have... Some advices

on Sat, 11/12/2011 - 15:12

I have been realizing people who want to start their own businesses always have the same questions, especially after attending the Small Business Summit, that feeling had got even stronger. I will try to share what they are.

The 2011 TD Canada Trust Small Business Survey reports out of the 402 business owners they surveyed across Canada think indicated managing cashflow as the most difficult challenge, with staffing (both retaining and hiring) continuing as a major obstacle.

So how do we address that and keep things under control?

1. Build an emergency fund

- normally 6 months' of

How to choose the correct policy and juggle between your budget

on Thu, 11/10/2011 - 07:34

Haven't writen another blog for some time, it was quite busy and also attending the Small Business Summit had added extra pressure and workload as well....

Anyway, in order for you (the readers) understand how I function, I decided to write about the process of how I structured an insurance plan for a client....

So, this is a referral from another client, she was 53 at the time and she told me that her term policy would be up very soon. Considering her mortgage and everything, we decided to check the pricing of $300K coverage.

Online vote/survey vs truth...

on Fri, 09/23/2011 - 21:11

Very interesting…. I am starting to wonder online votes and survey actually reflect the truth or not… LOL

Globe and Mail is having a Globe Money Poll: Are these markets making your stomach churn? (http://www.theglobeandmail.com/globe-investor/personal-finance/household...)
 
To my surprise, the result (till 9pm) is pretty impressive. Here are the results:
 
 
Among some of my clients, are pretty sensitive with what is going on in the market....
 
 
I keep hearing people asking "what to do, what to do now?"
 
 
Of course, looking at the statements would not make you happy in

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