Financial Library

How to Benefit from Being Charitable

Charities play a vital role in our society. The Canadian government recognizes this role and tax breaks exist to encourage taxpayers to give to their favorite charities.

Roger makes occasional donations to various charities. His donations are rather small and amount to only a few hundred dollars per year. He learned that he might get a bigger tax break if he was a little more generous with his donations.

Market Highs vs Your Goals

As stock market indexes in Canada and the U.S. make new highs on an almost daily basis, as of late June and early July, many investors have expressed increasing anxiety about a possible 'correction'.

Media headlines and commentary on BNN speculating about a possible correction from these recent highs, following a strong run over the past year or more has added to this investor anxiety.

Added Costs of Caring for Elderly Parents

Statistics Canada reported in 2007 that most eldercare (75%) was provided by those between 45 and 64 years of age. These Canadians, often called the sandwich generation, are increasingly finding themselves spending their own savings to care for their elderly parents, while giving money to their kids for university and trying to save for themselves.

A 2012 BMO survey confirmed that 7 out of 10 caregivers were providing some sort of financial assistance to parents or aging relatives, and half of these caregivers reported they had to adjust their own retirement plans as a result.

It's One Economy

The financial planner responded by saying that if the public stock markets were going down the drain, then real estate would follow as well. Why? Well it is one economy and we are all connected at the end of the day! Shocked, the veteran of 30-years in real estate responded that he had never thought of it that way and walked away shaking his head.

Improving Investment Returns

One Saturday, famed investment manager Peter Lynch was working at the office when he decided to answer the phone. The caller was a holder of his mutual fund who was calling to cash in the investment. Peter explained how he was excited about the growth prospects for the economy and his fund and asked him why. As Peter tells the story the caller said: 'Because I am breaking even!'

So, You Got a Tax Refund

According to the Minister of National Revenue, the average tax refund is over $1,500 for the 2011 tax year. Surprisingly, many Canadians are thrilled about getting a big refund. While certain situations can lead to an unusual tax refund, far too many Canadians lend large sums of money to the government at 0% interest year after year. Two things you can do to make your refunds smaller are:

Pages