Personal Finance – Page 11 – How to Achieve Financial Freedom

Can you invest your time and money in a mid-career gap and still be financially secure?

Many Canadians have recently realized it’s time for a change, leading to a reassessment of their values in pursuit of more fulfilling lives. Whether this trend is a byproduct of the world slowing down during the COVID-19 pandemic or a shift away from traditional North American work culture, which emphasizes the belief that one must […]

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How can I ensure a neighbour with a million estate is not taken advantage of?

How can I ensure a neighbour with a $10 million estate is not taken advantage of?

In an increasingly complex world, the Financial Post should be the first place you look for answers. Our FP Answers initiative puts readers in the driver’s seat: you submit questions and our reporters find answers not just for you, but for all our readers. Today, we answer a question from Gloria about how to protect

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Taxpayer wasn’t fast enough to avoid penalty for TFSA overcontribution

Nary a week goes by without me hearing from a reader or client asking for guidance with an inadvertent overcontribution to a registered retirement savings plan (RRSP) or tax-free savings account (TFSA) . This week, for example, an individual shared with me that they were hit with $1,200 in penalty tax for overcontributing by $23,000

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Couple wonders: Start investing or stick with rental income to build nest egg?

Should we start investing, or stay focused on building our real estate portfolio? This is the question British Columbia-based Jennifer and Roland are trying to answer. A blended family with four children from 18 to 22, Jennifer, 40, and Roland, 49, have purchased a primary residence, which is also a working farm, and three rental

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Get Ready to Pay More for Your Favorite Brands

Anna Helhoski writes for NerdWallet. Email: [email protected]. Twitter: @AnnaHelhoski. The article Get Ready to Pay More for Your Favorite Brands originally appeared on NerdWallet. https://www.nerdwallet.com/article/finance/companies-raising-prices-tariffs #financialliteracy #financialfreedom #finance #financialindependence #personalfinance #money #financialeducation #investing #financialplanning #entrepreneur #debtfree #wealth #creditrepair #budgeting #investment #debtfreecommunity #credit #financialadvisor #creditscore #financetips #financialgoals #realestate #debtfreejourney #moneymanagement #creditrestoration #invest #wealthbuilding #creditrepairservices #moneytips #passiveincome

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What Is APR? How It Affects Loans, Credit Cards, and Purchases

APR, or annual percentage rate, plays a big role in how much you pay when borrowing money. Whether it’s a credit card, mortgage, or auto loan, the APR affects your monthly payments and the total… The post What Is APR? How It Affects Loans, Credit Cards, and Purchases appeared first on Crediful. https://www.crediful.com/what-is-apr/ #financialfreedom #money

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Laid off at 59, Louie asks how to preserve capital in his retirement savings

Q. I have recently been made redundant at age 59 and my wife and I need to preserve the capital in my registered retirement savings plan (RRSP) and tax-free savings account (TFSA) while at the same time trying to generate income of about $35,000 net per year for the three to five years until my

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Taxpayer loses case to deduct costs and losses while renting to parents

If you own a rental property , you likely bought it because of the monthly rental income the unit would provide, with the hope of ultimately being able to sell it for a profit in the future. Indeed, some landlords are okay with ongoing rental losses (as long as they are not too large) because

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Canadians don’t see a unified economic way forward and that’s bad news

It’s fair to say most partisan Canadians and their political parties were not thrilled by the results of Monday’s federal election . The surging Liberals did not get their majority (as of press time), even in light of presenting an agenda, from a new shiny face who was not Justin Trudeau, that stoked fear about

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How are bank advisers paid? Plus, will bonds help protect my retirement savings?

Q. I have a question regarding “ financial advisers ” offered by banks. As a client, I meet from time to time to review my financial plan but I am essentially a DIY investor. For instance, my tax-free savings account (TFSA) is self-directed via the bank’s online brokerage. I am not charged any fee or

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Golombek: A look at four tax proposals floated for the federal election

With the party leaders’ debates now behind us, and the federal election just days away , what better time to take a brief look at a few of the more interesting tax policies announced by three of the major parties. Lowest tax bracket Both the Liberal Party of Canada and the Conservative Party of Canada

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Empower Personal Dashboard Budget App Review

Tommy Tindall writes for NerdWallet. Email: [email protected]. The article Empower Personal Dashboard Budget App Review originally appeared on NerdWallet. https://www.nerdwallet.com/article/finance/empower-personal-dashboard-budget-app-review #financialliteracy #financialfreedom #finance #financialindependence #personalfinance #money #financialeducation #investing #financialplanning #entrepreneur #debtfree #wealth #creditrepair #budgeting #investment #debtfreecommunity #credit #financialadvisor #creditscore #financetips #financialgoals #realestate #debtfreejourney #moneymanagement #creditrestoration #invest #wealthbuilding #creditrepairservices #moneytips #passiveincome #finances #generationalwealth

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When the going gets tough, the political parties get soft

In his inaugural address in 1961, President John Kennedy famously said, “Ask not what your country can do for you, ask what you can do for your country.” How old-fashioned. What a strange concept. Imagine a country’s leader asking for sacrifice from citizens for the good of the country. Nobody does that today. In Canada,

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Carney’s ‘spend less, invest more’ marketing catchphrase means more taxes are coming

Let’s pretend you want to buy a car for $50,000, but you only have savings of $20,000, so you will need to finance the other $30,000. Now, let’s assume the savings were accumulated from your previous after-tax earnings since your cumulative household expenses were less than your cumulative earnings, and that the interest-bearing financing can

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Most Canadians unaware that unused tax credits from prior years are still available: poll

Tax-filing season is in full swing, but many Canadians may be missing out on unused tax credits from the past decade because they’re too lazy to claim them. Sixty-five per cent of Canadians are unaware that they can amend old tax returns to claim any benefits they have missed in the previous 10 years, according

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How to save money planting your garden and growing your own food

As warmer weather signals summer, it sparks ideas of planting a garden and reorganizing your yard or outdoor space. A thoughtfully designed garden not only boosts your home’s value, but it can also be a smart financial move. Growing your own produce can reduce grocery bills, while smart planning keeps outdoor decor costs reasonable, creating

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Asked on Reddit: How Should I Trim My Monthly Budget?

Kimberly Palmer writes for NerdWallet. Email: [email protected]. Twitter: @kimberlypalmer. The article Asked on Reddit: How Should I Trim My Monthly Budget? originally appeared on NerdWallet. https://www.nerdwallet.com/article/finance/asked-on-reddit-how-should-i-trim-my-monthly-budget #financialliteracy #financialfreedom #finance #financialindependence #personalfinance #money #financialeducation #investing #financialplanning #entrepreneur #debtfree #wealth #creditrepair #budgeting #investment #debtfreecommunity #credit #financialadvisor #creditscore #financetips #financialgoals #realestate #debtfreejourney #moneymanagement #creditrestoration #invest #wealthbuilding #creditrepairservices #moneytips

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Jason Heath: What the federal election platforms could mean for your pocketbook

In the lead-up to the federal election on April 28, we’ve heard many proposals from party leaders that will directly affect your pocketbook . The impact of tariffs — including the spectre of job losses and inflation, along with the resulting stock market volatility — has made personal finance policies especially important for voters. Here’s

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What are my best investment options as a ‘forever renter?’

Q. What is the best investment vehicle for me at this time? I am single, age 38 with a maxed out tax-free savings account (TFSA) . I am a nurse earning $70,000 a year and am a forever renter. I do not see myself buying a home for the foreseeable future. I save about $12,000

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Many Canadians are delaying filing their taxes over confusion with recent changes

Canada’s April 30 tax-filing deadline is fast approaching, but many are planning to delay filing due to confusion over recent tax changes, according to a recent survey by H&R Block Inc. The survey said 29 per cent of Canadians are feeling confused about what they are supposed to claim and 28 per cent are planning

Many Canadians are delaying filing their taxes over confusion with recent changes Read More »