A joke on Twitter sometime around March last year read as follows: “I am happy that I learned about parallelograms at school, it has really come in handy this parallelograms season!”Of course, this disgruntled Twitterati, with this perfectly prosed-opus of a joke, was promulgating his frustrations of dealing with the tax season.We as average citizens are indeed not well versed with the intricacies of our tax system. Insult to injury, most tax laws are written in an esoteric language. … [Read more...] about RRSP Deadline – Deadline and RRSP Info For 2018
TFSAs (“Tax-Free Savings Accounts”) have turned out to be a really popular way for Canadians to invest. TFSAs were first introduced in 2009, and since then, over 13 million Canadians have opened one. In 2015, the most recent year for which data is available, around 60% of TFSA holders contributed to their TFSA (or in some cases, multiple TFSAs). Before we get started, we would like to note that if you have decided to open a TFSA already, we would suggest checking out our review of Questrade. … [Read more...] about TFSA Withdrawal – TFSA Withdrawal Rules for 2019
One of the questions we get asked the most is around the differences between RRSPs (“Registered Retirement Savings Plan”) and TFSAs (“Tax-Free Savings Account”). And it’s nearly always followed with “which one should I invest in first?” There is a lot of debate on which is better, the TFSA vs RRSP. We are going to highlight the pros and cons of each in this article.Before we get started, two things: first off, always consult a qualified tax professional in your jurisdiction on any tax … [Read more...] about TFSA vs RRSP – Which Account Is Better?
If you've been a regular visitor of Stocktrades, it's probably no surprise to you that we love to do interviews. Getting the chance to pick the brain's of some authority financial figures not only benefits you the audience but us as well.We had the privilege this week to interview the author of Burn Your Mortgage Sean Cooper. Before we get into the interview let's get to know Sean a little bit.Sean Cooper bought his first house when he was just 27 and paid off his mortgage at 30 in … [Read more...] about Interview With Burn Your Mortgage’s Sean Cooper
We're always looking to pick the brains of authority figures in the financial niche. Recently we had the pleasure of interviewing Hardbacon's co-founder and chief financial analyst Xiaolei Liu and asked her some questions that many investors are probably seeking the answers to today.Lets learn a little about Xiaolei Xiaolei discovered an interest in investing while completing her masters in education. After which she tackled the CFA program and will be taking the third level exam next … [Read more...] about An Interview With Hardbacons Co-founder Xiaolei Liu
All of us can probably attest that at some point we were spending too much money. Or maybe cruising down the theoretical highway of life constantly on empty. We were just hoping we make it to the next "gas station". We always made it, until one day an unexpected expense didn't leave enough cash for gas. Personal finance isn't easy, and not knowing how to spend your money can lead you down a bad path, debt. Now you are desperately looking to find a way to pay that debt off. You've … [Read more...] about Paying Off Debt – How To Become Debt Free Faster
In an era of differentiated products, increasing complexity, and endless choice, one of the biggest differentiators is cost. This applies to many material and virtual goods and services, and no less to investments.The management expense ratio, otherwise known as MER is the fee you pay for a fund or ETF. This fee is charged in most cases regardless of the funds performance. You can think of it as the fee that covers expenses for the day to day in the fund including administration, … [Read more...] about Management Expense Ratio(MER) & Management Fees
"I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful." - Warren Buffett What’s the most effective way to invest when the stock market sits at an all-time high? How can you continue to grow your wealth without risking a huge loss?These aren’t easy questions to answer. After all, you don’t want to end up like the Brazilian billionaire who lost $35 billion in a single year. So what’s an investor to do? How can … [Read more...] about Diversify Your Investments: 5 Baskets for Your Nest Eggs
I'm sure you have heard of the term robo-advisor. I am also sure that you are terrified of letting a "robot" handle your funds. Let's clear the air on the subject in this article. Let's start with the formal definition: A robo-advisor is an automated system that uses pre-defined algorithms to manage assets for clients, based on their risk-tolerance and other factors. Sounds a bit complicated, doesn't it?Simplified definition: A robo-advisor is a computer program that does the job of … [Read more...] about What Is A Robo-Advisor – Are They Right For Me?
A billion dollar question on which numerous researchers, advisors, and investors have spent, or rather wasted, thousands of hours contemplating. It is not an exaggeration to say that there are countless papers, articles, and books on this topic that only confuse everyone even more.Optimal portfolio allocation or the best portfolio balance aims at minimizing risk while maximizing returns. The best allocation strategy depends on your needs. Experience, age, risk appetite, available capital, … [Read more...] about Asset Allocation – Optimal Investing Portfolios