It is clearer than ever that most Canadians have to fend for themselves when it comes to retirement. A few decades ago, most working Canadians had access to a Defined Benefit Pension Plan. This meant that when you retired you would receive some form of regular income for the rest of your life. To make…
When it comes to marketing, a name can mean everything. When it comes to investing, it means absolutely nothing. Over the last year, for example, there has been an increase in the number of firms that are offering Private Investment Council or Private Investment Pools. Why? Because people are foolish enough to believe that these…
With thousands of large depositors in Cyprus losing as much as 40% of their money to bail out a near-bankrupt government, it brings to mind the legendary words of bank robber Willie Sutton, “I rob banks because that’s where the money is.” Willie may be credited with saying these words, but his career earnings (estimated at…
Tim recently spoke with Tammy Moyer of Vancouver’s News 1130 radio about what to do with your tax return and how important it is to seek independent advice. Listen to Tim Paziuk’s News1130 radio spot here: If you have any questions or comments about the interview please feel free to contact us.
When I’m lecturing to students I like to ask them how much a $100 pair of shoes costs. The most common answer is $100 plus tax. Would you believe me if told you it could be as much as $1,376.46? A basic truth in finance is that when you give your money to someone else…
If you have been operating your professional practice as a proprietorship for some time, you may have built up significant assets in your unincorporated practice. If you’ve made the decision to incorporate your practice, the question becomes: how can I transfer the assets from my proprietorship (personal asset) into my new professional corporation (PC) in…
“A man in a forest is digging a hole. Two feet, three feet deep he goes. Soon he is in over his head. Seven feet, ten feet, fifteen, twenty. Now the sky is a small square patch of blue above him and he realizes he is in trouble. How does he get out? He announces…
I recently read a letter to the editor written by the chief executive officer of the Investment Funds Institute of Canada. To quote “We agree that the merits of mutual funds remain valid today and suggest two additional factors that explain why mutual funds continue to be the investment of choice for 25% of Canadian…
I think there should be mutual fund police … We received a “book” in our office yesterday called Investment Review – What’s Around the Corner? Top Investment Themes of 2013 put out by BMO. I picked it up, flipped it open and landed on page 63. OMG! Let’s take a quick look at what I…
In my book The Financial Navigator: Managing Your Success I made the following statement – “It’s going to be interesting to see to what degree the American public will be willing to tolerate higher and higher tax rates. If wealthy Americans don’t feel there is a cost benefit to staying in the United States, they…