I recently read a quote that stated: “I don’t want to be unduly critical of the regulators, but they have dropped the ball. Their mandate is investor protection and yet the investor, the individual investor, is the last person on the totem pole that they ever think about.” This quote comes from Glorianne Stromberg, the…
One assumption that is often made when financial planning is that couples will stay together in retirement. Unfortunately for more and more families, this is not the case. When I mention this to new clients, I usually get an awkward grin. This is normally followed by a nod of agreement when I explain that I’m not talking…
You better be prepared to take care of yourself in the future because the financial tsunami that is on its way to North America is only a couple of decades away. The governments of Canada and the United States are in no position to pay for the healthcare needs of the increasing elderly populations. People…
When you look at what’s going on in Greece and Spain with all the violence and protests you can see what happens when the government starts talking about tax increases and benefit cuts. Why would anyone believe that things will be any different in the United States? The Roman Expire took 500 years to build.…
Most people have no idea how our tax system works. Let’s look at an example. If you go to a furniture store and buy a wooden chair how many levels of tax would you pay? Taxes are not just charged at the point of sale. They are charged at every stage in the production process…
It really annoys me how governments can put positive spins on things. Let’s look at a quote from CNN from October 15, 2010. “But Federal Reserve Chairman Ben Bernanke’s comments Friday set the stage for the Fed to announce plans to purchase additional assets at its next meeting – a two-day meeting that concludes November…
I was surprised to find that most people think there’s some relationship between a company’s stock price and the operations of that company. Amazing! When a company issues shares through a brokerage firm they receive cash in exchange for a piece of that company. Once the shares hit the market, all the trading of that…
I’m not convinced that people know the difference between a debt and deficit when it comes to a country. The United States currently has over $16 trillion in debt. Their 2012 fiscal deficit is about $1.3 trillion. Put simply, the national debt is the accumulated total of all previous budget deficits plus money borrowed intragovernmentally…
As many dentists discover, associate agreements range anywhere from fair to unfair. Often times, they are written heavily in favour of the employer and can restrict a dentist to unreasonable terms. These agreements, however, are almost always negotiable and can be adjusted to ensure a mutually beneficial contract is made. Before addressing specific points within…
One thing going around this time of the year is tax schemes like flow-through shares. A simple word of advice – never make an investment solely for tax savings. Always look at the investment first and the tax benefits last. I recently asked an accountant to review a flow-through share offering that one of my…