Debt Consolidation 101

Okay, you have some debt you want to get rid of… Join the club. In a recent Nielsen poll, the number one financial priority goal for Canadians is “paying down debt” – for the 5th year in a row. And the average debt owed by Canadians for each of those 5 years? Each year is… Continue Reading

‘Meet the Experts’ Event – May 7th, 4:30 – 6:30pm

Optimal Wellness Niagara (OWN) – the office home of Niagara Region Money Coaches – is hosting a ‘Meet the Expert’ event this Thursday, May 7th from 4:30 – 6:30pm. Come for light refreshments and meet all of the professionals who call OWN their own! This is a great opportunity to meet with the Owner/Founder of… Continue Reading

Winning with Money is a Defensive Game

Here is a common refrain: “If only I made 10% more, I’d be set for life”. In all my experience assisting people with their personal finances, at no time have I believed this was true. Most employee income follows a relatively steady trend of inflation (plus or minus) each year. Early on in the career,… Continue Reading

The history of the Millionaire, and how to become one

What does it take to get $1,000,000 in the bank? For some it seems like an unrealistic pipe dream – created by financial planners who would have you believe anything less will lead to an impoverished retirement. For others, $1,000,000 is just one step along the way towards growing fantastic wealth over a lifetime. I… Continue Reading

What’s so great about the TFSA?

Plenty! I love the TFSA for many reasons. To begin with, it stands for ‘Tax Free Savings Account’. Who couldn’t love something that earns you tax-free income? It works very differently from an RRSP. RRSP contributions are tax-deductible and provide the owner with deferred income tax until the money is eventually withdrawn. While there is… Continue Reading

Is a loved one of yours turning 71 this year?

If so, they have a big decision to make with their RRSP investments: cash them out, convert them to a RRIF or convert them to an annuity by the end of the year. First off, what is an annuity? It is basically an insurance product (and thus only sold by life insurance licensed professionals). They… Continue Reading

Saving for your Child’s Post-Secondary Education (Part 2 of 2)

When it comes to funding your children’s post-secondary education, not everyone needs to start socking away $200 a month into an RESP as soon as their baby arrives home from the hospital. And while I like that option if the parents are forward-thinking and can find that space in their budget, there are other sources… Continue Reading

Saving for your Child’s Post-Secondary Education (Part 1 of 2)

Gone are the days when a couple thousand dollars from a grandparent covered post-secondary tuition and a summer job could cover remaining living expenses each year. Parents of children today need to do some serious saving and investing to cover just tuition for a four year degree. And clearly it’s not easy to do. According… Continue Reading

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