Women & Wealth ® BLOG
Welcome to my mini BLOG page. This is where I post interesting information or my personal thoughts on wealth management, investment topics and women & wealth issues.
May 14, 2013
Breast cancer is a serious health issue affecting women and we all know someone who has been affected.
In a surprise announcement today, Anjolina Jolie revealed that she underwent a "preventive double mastectomy after learning she carried a gene that made it extremely likely she would get breast cancer."
- Toronto Star
May 7, 2013
Insights from the 2013 RBC Home Ownership Poll:
Fixed-rate mortgages are trending upwards
Among those looking to buy a home in 2013, four-in-ten (40%) will be first-time homebuyers
Less than 1/2 of Canadian homeowners take advantage of options that allow them to shave years off their mortgage and save on interest costs
April 29, 2013
April 22, 2013
RBC marks Earth Day with a new commitment to tackle climate change. The company pledges to reduce greenhouse gas emissions by 20%.
April 3, 2013
I learned a new word today: RETIRE-OPHOBIA.
It means having a fear that retirement may never happen; or that there won't be enough funds to enable it.
March 22, 2013
My favourite part of the 2013 Federal Budget: Special tax break for first-time charitable donations to encourage young people to give. :)
March 1, 2013
RRSP deadline is today!
In case you were wondering, the deadline for TFSA and RESP contributions is December 31st.
February 13, 2013
Free RBC Skate on FAMILY DAY - Feb 18th! For a list of arenas and times in your community, please see the link: http://www.rbc.com/familyday/
February 4, 2013
RIP Cdn penny! Google Doodle honours our penny as circulation ceases today. From now on, all cash transactions will be rounded up or down to the nearest 5 cents.
Don't know what to do with your old pennies? Here are two ideas:
1. Turn them into attractive rings!
2. Donate them at any Royal Bank branch between February 4th and February 9th, as part of our joint RBC/Free The Children "We Create Change" penny drive campaign.
February 1, 2013 (start of Super Bowl weekend)
Enjoy the halftime show by Beyonce! Also entertaining are the advertisements aired during the game. From past years, here are 10 Favourite Super Bowl Ads by Financial Firms:
January 18, 2013
"40% of coffee drinkers in the U.S. prefer a mild roast." In a bid to gain those customers Starbucks (SBUX) has recently been "offering free samples of it's milder Blonde Roast. Some stores have even been giving away Hot Tall Blondes" - no joke! (source: Bloomberg Businessweek)
January 3, 2013
In my opinion, the term "Fiscal Cliff" (popularized by Ben Bernanke) should be voted as Word of the Year 2012.
Every year the American Dialect Society designates one or more words or terms to be the "Word of the Year" in the United States. Here is a recap of past years, as provided on Wikipedia:
- 2005: truthiness (popularized on The Colbert Report)
- 2006: plutoed (demoted or devalued, as happened to the former planet Pluto)
- 2007: subprime (an adjective used to describe a risky or less than ideal loan, mortgage, or investment)
- 2008: bailout (in the specific sense of the rescue by the government of companies on the brink of failure, including large players in the banking industry)
- 2009: tweet (a short, timely message sent via the Twitter.com service, and verb, the act of sending such a message)
- 2010: app (an abbreviated form of application, a software program for a computer or phone operating system)
- 2011: occupy (verb or noun inspired from the Occupy movements of 2011
Dec 20, 2012
Skip the engagement ring and do this instead! (courtesy of dailyworth.com
Given that the average couple puts about $5,000 toward a ring, what else could you invest in that would enhance your entire marriage?
$5,000 = 100 nights of paying a babysitter $50 so you can get some alone time.
$5,000 = two years of a bi-weekly cleaning service so you don’t fight about chores.
- $5,000 = 500 $10 thinking-of-you bouquets. That’s a once-a-week gesture of love for a solid decade.
- $5,000 = a big chunk of your emergency fund (for two).
Dec 17, 2012
USA Fiscal Cliff explained.
This puts things into a much better perspective as to the present economic situation...
Lesson # 1:
* U.S. Tax revenue: $ 2,170,000,000,000
* Fed budget: $ 3,820,000,000,000
* New debt: $ 1,650,000,000,000
* National debt: $ 14,271,000,000,000
* Recent budget cuts: $ 38,500,000,000
Let's now remove 8 zeros and pretend it's a household budget:
* Annual family income: $ 21,700
* Money the family spent: $ 38,200
* New debt on the credit card: $ 16,500
* Outstanding balance on the credit card: $142,710
* Total budget cuts so far: $ 38.50
Got It ?????
November 26, 2012
TFSA news: Starting in 2013, the contribution limit will be raised to $5,500 per year! For more details, please go to: http://www.fin.gc.ca/n12/12-151-eng.asp
November 8, 2012
Retail therapy news:
Hudson's Bay Company (HBC) is going public with an IPO this month.
Sears launched a rebranding campaign today. Their slogan: "Make Every Day a Great Day".
Target is coming to Canada - expect most stores to open Spring / Summer 2013.
November 7, 2012
The World Economic Forum (WEF) has just issued its report The Global Gender Gap Report 2012
and the news is not all that good, as Canada has slipped backwards in several categories:
Canada ranks 21 overall (out of 135 countries)
In economic participation and opportunity Canada ranks 12th
On educational attainment, Canada ranks 70th
On health and survival Canada ranks 52nd
On political empowerment it ranks 38th
If the above stats are making you consider a move to another country, may I suggest Finland...it ranked #1 in education, #1 in health and survival and #2 for political empowerment.
October 16, 2012
October is Cyber Security Awareness Month. Here are some tips for minimizing risks in a mobile device world:
NEVER leave a mobile device unattended in a public place. Thieves look for any unguarded moment, to relieve you of your belongings.
Keep your mobile devices with you. If it’s necessary to leave a mobile device, or even a briefcase, unattended in your car for a short period of time:
lock these in the trunk, so they won't be visible to passersby
transfer mobile devices to your trunk when you get into your car, not at your destination, in case someone is watching
Remember to use the passphrase or password lock feature on all your mobile devices to protect your information and your friends' information too.
Keep the amount of confidential information stored on your laptop or other mobile device to the minimum needed to do your job
October 1, 2012
If your kids have a P.D. day on Friday, Oct 5th, join us for the FREE RBC Play Hockey Skate in Oakville.
Glen Abbey 9:30 am - 12:30 pm
16 Mile Creek 2:15 pm - 5:00 pm
Jayna Hefford, Hockey Gold Medalist, will be on hand with her Olympic medals, signing autographs, giving out Play Hockey water mugs and hockey pucks. Free hot chocolate too!
September 25, 2012
A new report has found that 2/3 of middle class earners acknowledge having made financial mistakes—with the average cost being $23,000—and points to the urgent need for advisors to help them.
How about you? Have you made a serious financial mistake? Do you need advice on how to recover from it? If you answered YES, than please contact me
. I can help you get back on track.
September 14, 2012
Wayne Gretzky wasn't the biggest, fastest or the strongest hockey player. So what made him the Great One? He focused his attention not on where the puck was, but on where the puck was going to be. Your investments should be positioned the same way. Don't buy the "stock-of-the-day". Buy the investments that will position you for great opportunities in a few months time. Chasing hot stocks is like chasing a puck. You are more likely to get a penalty than a goal.
September 5, 2012
The ABC's that every university student needs to know about financial planning:
“A” — Always stick to a budget.
“B” — Be disciplined around debt.
“C” — Consider all your financial options for funding your education.
"C" can also be - Check your cell phone plan to make sure it fits your lifestyle.
August 20, 2012
Once again, our Canadian banks make the list of World's 50 Safest Banks 2012. Here is how they rank:
11th - TD Bank
12th - Bank of Nova Scotia
17th - Royal Bank
25th - Bank of Montreal
26th - CIBC
38th - National Bank
July 27, 2012
Today is the start of the 2012 Summer Olympic Games. This year, Olympians at the top of the podium will take home the most valuable gold medal, given gold's current value is roughly $1610 per ounce.
"Go For Gold" Canada!
July 23, 2012
I just found out that there are mutual funds that invest only in companies that are owned by women, led by women, or women friendly. These investment products are not available in Canada, but the idea of Gender Based Investing
is an interesting one. http://dailyworth.com/posts/1371-Put-your-money-where-the-women-are
July 20, 2012
Advised households have 4.2 times greater financial assets than non-advised households. Yes, advisors create value by increasing returns and minimizing taxes...but the main reason seems to be that advisors encourage the habit of regular saving. So go ahead and get advice; it's worth it!
(Source: 2011 IFIC Value of Advice Report)
July 18, 2012
Interesting bank facts:
Royal Bank is Canada's largest bank
Bank of Montreal is Canada's first bank (opened in 1817). It carries the official institution number 001.
TD Bank has more branches in the USA than in Canada
Scotiabank has more employees who speak Spanish as their mother tongue than English
The Bank of Canada was born in 1935 and became a Crown corporation in 1938
Canada has 23 Schedule 1 banks, but most of the smaller ones serve niche markets. The big 6 have a monopoly hold on consumers
June 21, 2012
Finance Minister Jim Flaherty is changing mortgage rules to make it harder for people with limited means to buy homes or borrow on ones they already have. Today's announcement marks the fourth time Ottawa has tightened mortgage rules since 2008.
The maximum term of insured mortgages will be cut to 25 years from the current 30 years. The changes will also limit refinancing loans to 80% of the value of a home, from the current 85%.
With Canadian households reaching a record debt level of 152% of income, this change comes as no surprise. The new measures are also aimed at cooling the condo market in places such as Toronto, Vancouver and Montreal.
The changes will hit only a small number of people; less than 5% of new home purchasers, according to Flaherty.
June 7, 2012
The Royal Bank logo of "Leo the Lion" holding a globe is now 50 years old! Check out the evolution below:
June 1, 2012
Attn: Ontario residents earning $500,000 +
The top tax rate is increasing from 46.1% to 49.53%. Click here
to find out more about Ontario's Wealth Tax.
May 18, 2012
Today's date will be known as the day Facebook Inc (NASDAQ:FB)
Lots of hype, lots of trading, lots of new billionaires created.
So what happens now that Facebook is worth more than RBC (Canada's largest bank)? As Golden Girl Finance says: "Analysts are divided as to whether FB can deliver on its celebrity stock status over the long term, or if investors will eventually need to quietly un-friend them…"
April 26, 2012
Women are the new face of business. Did you know: Every 60 Seconds, a Woman Starts Her Own Business!
Nominate an extroardinary woman today for the RBC Women Entrepreneur Awards
April 17, 2012
The Bank of Canada left interest rates untouched again, but it warns that rate hikes are coming. Economic momentum in Canada is slightly firmer and the Bank expects economic growth of 2.4% this year, which is well above their January forecast of 2%. Business and household confidence are also improving. The next policy meeting is set for June 5th.
What this means to you: If you have any variable debt - either a mortgage or a line of credit - you may want to make extra payments to bring down the balance before interest rates rise.
April 16, 2012
It's Not a Purse...it's an Investment. Calculate your ROI (Return on Investment) for every purchase you are contemplating. What is the Cost Per Use
of each item? Calculate before your buy. This applies to purses, shoes, cars, gym memberships, etc. http://dailyworth.com/posts/1215-It-s-Not-a-Purse-It-s-an-Investment
March 29, 2012
The good and bad of the 2012 Federal Budget:
L Born after March 1958? You will have to wait longer before collecting Old Age Security.
J For parents of disabled children: the RDSP (Registered Disability Savings Plan) changes are positive.
J Cross-border shoppers will like the increased exemptions. (Let's hope our C$ stays high vs the U$.)
March 21, 2012
RBC launched the first interactive iPad app
that teaches kids about money!!!!! You can check it out and dowload it here: http://www.rbcroyalbank.com/learning-money-with-leo/index.html
March 8, 2012
In honour of International Women's Day (which is today), RBC donated $375,000 to Canadian Women's Foundation!
Also, the following challenge is issued to corporate Canada: Name more women as directors to boards, says RBC CEO Gord Nixon
February 29, 2012
The RRSP turn 55 years old! It was introduced in 1957 to encourage Canadians to save for their retirement.
Many Baby Boomers are also turning 55 and looking forward to retirement. Sadly, many of them have underfunded their RRSPs and may find that freedom 65 turns into freedom 75.
According to a recent RBC report
, RRSP contribution have been on a steady decline since 1997, when it peaked at 5% of income. Today, Canadians are contributing less than 3% of their income towards RRSPs. Some possible explanations: Canadians are saving elsewhere (TFSAs, or Real Estate), maybe poor stock market performance is deterring them, or they may simply be strapped for cash as the cost of living has been increasing (especially housing). Either way, the statistics don't look good.
Reminder: This is the last day to top up your 2011 RRSP contributions!
February 23, 2012
Canadian men and women are on different planets when it comes to saving and investing. Click here for the "RRSPs are from Mars, TFSAs are from Venus" gender gaps.
February 9, 2012
Hmmm...what does this chart tell us about the financial health of Canadian households?
January 17, 2012
The Bank of Canada left interest rates unchanged (again). It now estimates that Canada's economy grew at 2.4% in 2011 and it projects growth of 2.0% in 2012.
January 9, 2012
Index Round-up for 2011
TSX = - 11.1%
(the biggest drags on performance were Materials @ -21.8%, Consumer Discretionary @ -17.1%, & Energy @ -16.8%)
S&P = flat
DJIA = + 5.5% (U$)
Nasdaq = -1.8% (U$)
Russell 2000 = - 5.5% (U$)
MSCI Emerging Mkts = - 20.4%
MSCI World = - 7.6%
MSCI EAFE (ex North America) = - 14.8%
Will 2012 hold more promise? How are you positionning your portfolio for maximum growth potential? If you are unsure, contact me for a review.
December 21, 2011
I was familar with the BRIC emerging markets (Brazil, Russia, India, China), but until now, I hadn't heard of this new accronym: CASSH countries (Canada, Australia, Singapore, Switzerland and Hong Kong). Apparently these "smaller developed world countries are fundamentally stronger than their larger counterparts, they have better growth prospects, less debt and less strained public finances". Good to know!
December 12, 2011
RBC just raised its rate on the High Interest Savings Account to 1.25%.
November 30, 2011
'Tis the Season...
Our RBC holiday spending survey shows Canadians are likely to spend an average of $640
on gifts this year – but they are also keeping a closer eye on their holiday budgets. Does this match up with your intentions? Read on
and let me know!
November 28, 2011
Did you know: "Investing in dividends is a tradition that stretches back to 16th century British sea captains who shared profits they made overseas with their investors. By the late 1700's firms in the US began to pay them, and in 1829 the Bank of Montreal became the first Canadian company to issue a dividend." (source: Mackenzie Financial)
Canadian banks have a history of being dividend growers - meaning that they increase their dividends over time. They have been a staple investment in many portfolios. Read more on the Power of Dividends here
November 11, 2011
On this most unusual date of 11/11/11, may we never forget the sacrifices of our soldiers. This quote is from today's Remembrance Day ceremony which I attended in downtown Oakville: "Peace is not the absence of war. Peace is harmony and unity." Lest we forget...
October 31, 2011
Thanks to www.dailyworth.com
, we have a tutorial in terror just in time for Halloween. Here are a few spine-tingling terms
that investors should watch out for:
These are shares that have been left for dead, but they aren't dead yet. Exact definitions vary, but they're often described as shares of insolvent companies that are near or in bankruptcy.
Take, for example, the creepy penny-stock (BLIAQ) that was once Blockbuster (and is now BB Liquidating Inc.). Recently trading around two cents per share, these emaciated shares have continued to roam some investment portfolios.
Beware the third Friday of March, June, September and December. On these days, four different types of tricky investments (stock options, stock index options, single stock futures and stock index futures) expire—a situation known as “Quadruple Witching.”
The phrase originates from the three famed witches in William Shakespeare's “Macbeth.” And until 2002, there were just three of these types of investments expiring—hence the old name of “Triple Witching.”
These witches are feared for the increased volatility they can cause. That's given these days another spooky nickname: Freaky Fridays.
||The Misery Index|
Add together the unemployment rate and the inflation rate, and you get the Misery Index. Recently, the Misery Index hit a 28-year high. Scary.
October 7, 2011
In memory of Apple's co-founder, here are 7 principles for Innovating the Steve Job's Way
September 21, 2011
In honour of my grandmother (Mamy), I am supporting World Alzheimer's Day by donating to the Alzheimer Society of Canada. www.alzheimer.ca
The Impact of Dementia on Canadian Society
In 2010, more than 500,000 Canadians are living with dementia.
Of these, approximately 71,000 are under the age of 65.
1 in 11 Canadians over 65 has dementia.
Women account for 72 per cent of all Alzheimer cases, and 62 per cent of all dementia cases.
Within a generation, the numbers of Canadians living with dementia will more than double to 1.1 million.
September 14, 2011
RBC is committed to the arts and emerging filmmakers and that is why we are a proud sponsor of the Toronto International Film Festival.
September 6, 2011
To all the Moms out there: happy "back-to-school" day! My youngest daughter starts Grade 1 today. Very exciting!
August 26, 2011
World's 50 safest banks: RBC is number 11 (best showing of any Canadian Bank)!
August 23, 2011
RBC made a $20,000 donation to the Canadian Red Cross Ontario Disaster Relief Fund to support emergency relief efforts for the community of Goderich, which was recently affected by the tornado.
August 10, 2011
Did you know: RBC Wealth Management is now the world's Sixth Largest Global Wealth Manager!
July 12, 2011
Mamma Mia: The Euro crisis spawns to Italy. Italian bond markets have been showing extreme "Vol-Italy".
June 22, 2011
Seven Life Lessons of the Ultra Wealthy:
Having money is better than not having money.
Don't become "Cash Rich," and "Time Poor."
Memories are better than material objects.
Watch your lifestyle leverage, especially early in your career.
Having goals is incredibly important.
You must live in the here and now.
It helps to be incredibly lucky.
(From Barry Ritholtz's Washington Post column) Read the full article here
June 20, 2011
RBC Canadian Open: Next month, RBC will again host the Canadian Open. This year it will be held at Shaughnessey Golf and Country Club in Vancouver, B.C.
RBC is the official banking and financial services partner of world class golfers and emerging professionals who compete on the PGA, LGA and Champions Tour.
June 17, 2011
Warnings from the Bank of Canada: In a speech given on June 15th, Bank of Canada Governor Mark Carney warned of housing excesses, too much debt, and the need (eventually) for higher interest rates.
As the Governor notes, "Canadian households are now indebted at just below 150% of personal disposable income." He suggests downside risks to the economy if the housing market collapses and consumer spending tumbles alongside. He also notes possible "speculative aspects of the housing boom in the condo markets of some major cities".
June 8, 2011
The search for qualified nominees for the 2011 RBC Canadian Women Entrepreneur Awards is underway. Do you know someone extraordinary? If so, please make a nomination before the deadline of June 16th. www.theawards.ca
May 31, 2011
The Bank of Canada kept interest rates unchanged today, but they hint that rate hikes are in the pipeline.
Concerned about rising rates? Protecting your debt is just as important as protecting your assets. Call me to discuss. 905-469-7074
May 18, 2011
Lawrence A. Sarbit explains the difference in behaviour between Stock Market Speculators and Successful Investors. They ask fundamentally different questions.
Speculators ask "How much can I make?"
Investors ask " How much can I lose?"
May 5, 2011
Here is an exerpt from the article The Mommy Salary which I read on Forbes Woman (by Sheri Caplan):
"You can't put a price on motherhood…or can you?
According to Salary.com, you can. Each year over the past decade, the company conducts its Mom Salary Survey that takes into consideration the market value of services provided by mothers. This includes the following job descriptions: Day Care Center Teacher, CEO, Psychologist, Cook, Housekeeper, Laundry Machine Operator, Computer Operator I, Facilities Manager, Janitor and Van Driver.
Mom's compensation has declined in 2011. Stay-at-home moms earn a base salary of $36,968 plus $78,464 overtime pay to total $115,432, down from $117, 856 in 2010. Moms working outside the home earn, in addition to their external compensation, a base salary of $39,763 plus $23,709 in overtime, totaling $63,472. Their income dropped from $71,680 in 2010."
During the week, a typical stay-at-home mom spends:
3.9 hours as the family's CEO
7.6 hours as a psychologist
13.2 hours as a day-care center teacher
14.1 hours as a cook
15.4 as a housekeeper
6.6 hours doing laundry
9.5 hours as a computer operator
10.7 hours as a facilities manager
7.8 hours as a janitor
7.8 hours as a van driver
So remember to thank your mother for all her hard work! Mother's day is Sunday May 8th.
April 29, 2011
With a tiara on my head and a cup of tea in hand, I toast the newlyweds. Will & Kate did not dissapoint on the balcony of Buckingham Palace. It was "kiss-tory" in the making!
Her Royal Highness The Duchess of Cambridge (Catherine Middleton) no longer has to worry about finances. Lucky her. For the rest of us, prince charming is not a financial plan. However William might end up in our wallet one day, since his face might be on our loonie...
April 7, 2011
The search is underway. Do you know someone extraordinary? Nominate outstanding women entrepreneurs today. RBC Canadian Women Entrepreneur Awards
March 25, 2011
The minority government of Stephen Harper has been defeated in a non-confidence vote. So unfortunately, nothing from the recent Federal Budget will get passed into law, unless the Conservatives win or a new government chooses to re-enact those proposals.
March 22, 2011
Today is World Water Day
. RBC and Unilever commissioned the 2011 Canadian Water Attitudes Study
. The results are surprising. For example: "While the majority of Canadians (55%) believe that fresh water is the country's most important natural resource and they try reasonably hard to conserve it (78%), almost three quarters (72%) admit to flushing garbage down the toilet".
March 18, 2011
Top 10 List of Celebrity Estate Planning Mistakes
These estate planning mistakes are drawn from Trial & Heirs: Famous Fortune Fights!
) by Andrew W. Mayoras & Danielle B. Mayoras.
Do nothing. By not doing your estate planning, you could end up like Jimi Hendrix and have someone that you barely knew controlling your legacy...after a lengthy and expensive court fight almost 30 years after he died.
Do it yourself. Former Supreme Court Justice Warren Burger created his own will consisting of 176 words; but he left out key provisions and his family paid the price.
Don't update. Heath Ledger never updated his will with the birth of his daughter, leading to chaos and family members fighting through the press.
Take shortcuts. Princess Di used a "letter of wishes" to leave personal effects to her godchildren instead of specifying her wishes in a will or trust.
Forgetting to tell your loved ones where your estate planning documents are located. Olympian Flo Jo's original will couldn't be located and her probate estate took over 4 years to close.
Failing to finish what you start. Michael Jackson created a trust, but never fully funded it, defeating a primary purpose of having a trust. This made it much easier for his family to fight in probate court ... and made the feud public.
Making verbal promises. Marlon Brando's housekeeper alleged that he made oral promises of a home and continued employment to her, which led to two separate lawsuits after Brando's death.
Procrastinating. Sonny Bono passed away at the age of 62 without even a simple will in place. This lead to many complications, including a secret love child who surfaced and wanted a piece of Bono's estate.
Leaving your intent unclear. Whitney Houston's father named Whitney as a beneficiary on a large life insurance policy, but it was unclear if he wanted Whitney to keep the money or to repay money owed by Whitney´s step-mother.This confusion led to a two-year court battle which is still ongoing!
Choosing an untrustworthy executor or trustee. Tobacco and energy heiress Doris Duke (renowned for her gardens) chose an unsavory trustee - her butler - to manager her $1 billion foundation. When he used assets for himself, it lead to an expensive fight in court that dearly cost the charities Duke wanted to benefit.
March 17, 2011
Happy St. Patrick's Day! May you find a pot of gold!
March 15, 2011
Royal Bank of Canada donated $100,000 to the Red Cross yesterday, to support relief and humanitarian efforts in Japan. Donations to Red Cross are also being accepted at RBC branches throughout Canada.
March 9, 2011
Today marks the 2 year anniversary of the market bottom of 2009. Are you still sitting in cash on the sidelines? Stop parking and start investing!
March 8, 2011
In honour of International Women's Day, here is a brief history of women at RBC and some key milestones:
February 15, 2011
RBC's report entitled "He says, She says
" aptly points out that ther are differences in how men and women invest and save.
February 14, 2011
Do you own one of these Valentine stocks?
Starwood Hotels (NYSE: HOT) - Great trading symbol and place to spend a romantic weekend.
LVMH Moet Hennessy (Euronext: MC) - Luxury gifts for your valentine. Everything from Louis Vuitton handbags, Hermes scarfs, Givenchi perfume, Christian Dior beauty products, and Dom Perignon champagne.
Tiffany & Co (NYSE: TIF) - Who can resist the little blue box?
Lindt & Sprugli (Zurich stock exchange: LISN) - Swiss chocolate. Simply decadent.
February 9, 2011
1.) Toronto & London Stock Exchange merger in the works. Hello Brits!
2.) AOL to purchase Huffington Post. News worth blogging about!
February 2, 1011
Since it's a SNOW day, why not spend 20 minutes planning your financial future. Review your money transactions for January and then use that as a guide to set up your budget for 2011!
January 28, 2011
RBC® Mobile Banking app
is now available for download on your iPhone or Blackberry
Pay bills on the go
Transfer funds over lunch
Check acct balances while standing in a grocery line
Email Money Transfers to friends and family
Locate branches, ATMs, and more...
To download, go to the iTunes App Store or the BlackBerry App World and search for RBC, or click: http://www.rbcroyalbank.com/mobileapps/
January 27, 2011
Very sad to hear of Peter Cundill's passing (Mackenzie Cundill mutual funds). He was one of Canada's great investors and a generous philanthropist.
January 18, 2011
The Bank of Canada opted to leave the overnight rate unchanged for now, but their statement was slightly more upbeat in its assessment of both U.S. and global growth.
January 17, 2011
From the Huffington Post - Top 4 ways the new astrological signs might affect you:
You may not be longer be compatible with your spouse. (This explains why most couples disagree about money issues.)
You may have to get that tatoo removed. (Good thing I never got one.)
Your entire personality might change. (No it won't. I'm still a Taurus...and bullish on the stock market!)
Your lucky numbers have changed. (This explains why I haven't won the lottery yet; I've been playing the wrong numbers all these years! BTW, buying lottery tickets is NOT my retirement plan, I do it for entertainment only.)
January 13, 2011
The anti-feminist Catherine Hakim, well known for her claim that beauty is a woman’s most valuable asset, just released her paper Feminist Myths and Magic Medicine
, arguing that women “really want” to marry men who are richer and cleverer than they are.
Remember: Marrying rich is not a financial plan!
January 12, 2011
Will you retire debt-free?
January 5, 2011
According to a recent study, 69% of retirees plan to continue working (full or part-time) as a way of remaining mentally and socially active. 38% actually need to stay employed out of financial necessity.
The survey also revealed what Canadians plan to do during retirement (when they are not working):
- Travel (86%)
- Spend time with family, friends (72%)
- Read (61%)
- Exercise (60%)
- Pursue a hobby (50%)
Return to school (24%)
December 17, 2010
INTERESTING RRSP FACTS
- More Canadians (61%) have an RRSP this year, compared to 2009 (54%).
- Many are waiting until the last minute to contribute. 1/3 are planning to make a one-time RRSP contribution in February.
- 1/4 of Canadians with RRSPs plan to maximize their contribution for the 2010 tax year.
- 1/3 of Canadians who are contributing to an RRSP plan to contribute more than last year.
- Only one-in-three RRSP investors make regular contributions through a plan.
- While mutual funds are still the top planned RRSP investment choice (42%), there is a renewed interest in stocks (19% compared to 12% in 2009).
December 16, 2010
RBC employees raised an impressive $4.8 million dollars in support of United Way this year!
December 8, 2010
Memorable events that happened on December 8th:
Dec 8, 1869: Timothy Eaton opened his first shop at Yonge and Queen St. in Toronto, offering a "Satisfaction Guaranteed" refund policy.
Dec 8, 1941: The United States entered World War II as Congress declared war against Japan one day after the attack on Pearl Harbor
Dec 8, 1993: President Bill Clinton signed into law the North American Free Trade Agreement.
Dec 8th (year ????): My father was born. Happy birthday Dad!
November 23, 2010
Good news from Tim Hortons (THI): Canadians no longer need to fumble for change. This month, they will complete a nationwide roll-out of Interac's Debit payment system to all locations already accepting other electronic forms of payment such as Tim Card.
"Double" the good news: TimmyMe is Tim Hortons' mobile app which gives you closest locations via GPS. TimmyMe is a free download available through the iTunes App Store and BlackBerry App Store.
November 18, 2010
Will & Kate are finally engaged! Now the hard part begins...planning the wedding. This got me thinking about the tough economic times and budgeting for such an event. I often see young brides get carried away with the idea of being a "princess for a day" and blowing the budget in pursuit of the perfect wedding. I just want to remind anyone taking the plunge that the Royal family has an unlimited budget and they will sell lots of memorabilia to cover their costs. How will you pay for your wedding? NOT on Visa I hope.
November 11, 2010
Lest we forget: On the 11th hour of the 11th day of the 11th month, Canadians pause in memory of the thousands of men and women who sacrificed their lives in military service.
October 20, 2010
I just spent 3 days at a Women's Symposium. One of our guest speakers was Dr. Roberta Bondar (yes, the Canadian female astronaut). She talked about leadership in our lives and business. What an incredible woman. No wonder she has 5 schools named after her, and a dedicated Canada Post stamp too!
October 13, 2010
Cost of rescue operation in Chile: $Millions
The absolute elation of the miners, their families, and the rescue teams as they pull each man up out of the ground: Priceless! Viva los 33!
October 7, 2010
October is International Cyber Security Awareness month. Remind yourself of the steps you can take to protect yourself from popular scams. Also, take the 3 question quiz to see how savvy you are about scams.
October 1, 2010
October is Breast Cancer Awareness Month. My aunt is a survivor! In her honour, I will be planting pink tulip bulbs in my garden. This month I also pledge to teach my daughters about healthy lifestyle choices to reduce their future risk of breast cancer.
September 29, 2010
India is capturing the attention of the world these days; - not only because of the challenges and delays they are experiencing as they prepare for the Commonwealth Games, but also because of their roaring stock market. Incredibly, the Sensex in India is up 16.2% year-to-date versus 5.96% for the S&P TSX.
September 24, 2010
Interesting Green Fact: According to an RBC survey, half of Canadian small business owners currently have or are considering implementing a green plan or environmental policies for their business.
September 13, 2010
In its 35th year, the Toronto International Film Festival (TIFF) is widely recognized as the most important film festival after Cannes and the most successful public film festival in the world. As a supporter of the Canadian film industry, RBC is the Official Bank and major sponsor of TIFF.
September 9, 2010
New credit card regulations came into effect on September 1, 2010, making financial products more transparent and clear for the consumer. Click here for more details.
September 7, 2010
Did you know: there are now 41 million people or 13% of the U.S. population receiving food stamps. An average of 533,000 people per month have been added over the past year. Scary.
September 1, 2010
RBC ranks as world's 10th safest bank, according to Global Finance's annual list of the world's 50 safest banks. In fact all Canadian banks ranked well: TD #15, BNS #22, BMO #36 and CIBC #37. Way to go Canada!
August 20, 2010
Royal Bank introduces myFinance Tracker. Your expenses are automatically tracked and categorized for you. Once your spending habits are revealed, you can take control of your finances. You can also create a customized budget and a personal financial calendar with the click of a mouse. Easy to use and free to all Royal Bank clients. http://www.rbcroyalbank.com/myfinancetracker/index.html
August 19, 2010
The three pools of capital needed during retirement are:
Essentials Pool (for food, clothing, shelter)
Lifestyle Pool (for entertainment, memberships, hobbies)
Estate Pool (for charitable giving and legacy / inheritance purposes)
When you have enough to cover all three, circle your retirement date on the calendar.
August 16, 2010
A new study by the Investment Funds Institute of Canada (IFIC) reveals that advised Canadians are far better off.
The study highlights the role of an advisor as a trusted source of financial information who helps improve clients' financial literacy and that of their children. Having advice is strongly associated with the accumulation of financial wealth regardless of income level or age.
Advised investors were far more likely to have an RRSP (69%) than unadvised investors (29%)
27% of those employing an advisor had a TFSA, compared to just 14% of those who were going it alone
Advised Canadians are more confident about retirement (74% versus 52%)
Advised Canadians are more satisfied with their current financial situation (72% versus 53%)
Advised Canadians are more comfortable with their debt levels (69% versus 47%)
August 9, 2010
Skype just filed for an IPO. This is relevant to Canadians because the Canada Pension Plan Investment Board (CPP) owns a 15% stake in the company. "Skype’s prominence has grown in recent years stemming from high profile display on programs such as The Oprah Winfrey Show. These talk shows use the service to video conference with guests who can’t appear live." (Globe & Mail) Is it possible that one day I might even use Skype for video conference meetings with clients?
August 3, 2010
The 2010 RBC Canadian Open began with the Mike Weir Charity Classic. I am glad to hear it raised $350,000 for the Mike Weir Foundation, part of the more than $1.2 million raised during the tournament for charities promoting children's wellness.
July 22, 2010
The 2010 RBC Canadian Open starts today. (Not at Glen Abbey this year, but it should still be a great tournament).
July 19, 2010
Happiness linked to financial planning: A research report by Aviva (U.K. insurer) claims that overall happiness and self-esteem are influenced by our sense of financial control and not by how much we earn each year.
July 14, 2010
The personal savings rate in Canada is a dismal 2.8%. That simply isn't enough. Here is a guidline for how much you should be saving:
Age when saving starts and % of salary to save each year
20-something 10% - 15%
30-something 15% - 25%
Early 40's 25% - 35%
45 and older OUCH!
SAVING FOR RETIREMENT – The sooner you start, the better!
July 9, 2010
Want to know what's affected by the new HST? Get the full list here.
June 30, 2010
June 25, 2010
The G20 summit: The G stands for ghost town. Toronto’s financial district was eerily quiet as thousands of bankers, brokers, lawyers and other employees stayed home.
June 14, 2010
Royal Bank of Canada (RBC) has been named one of Canada's 2010 "Top 50 Socially Responsible Corporations" in the June 21, 2010 issue of Macleans magazine, on newsstands today.
June 10, 2010
On Friday, June 11, 2010, RBC will celebrate its first-ever RBC Blue Water Day. Over 77,000 employees in 54 countries will mark the day by wearing blue to raise awareness about the value and vulnerability of water and celebrate with activities planned in branches across Canada and around the world. The RBC Blue Water Project is a 10-year, $50 million philanthropic commitment to supporting organizations that protect watersheds and ensure access to clean drinking water in Canada and abroad. Since 2007, RBC has committed more than $24 million in single and multi-year grants to 285 organizations.
May 21, 2010
Effective today, RBC Dominion Securities is the first bank-owned firm to offer clients a U.S. dollar-denominated RRSPs. Now, clients can buy and sell U.S. dollar-based investments and settle in U.S dollars, identical to the way they do so in their non-registered accounts.
May 12, 2010
Did you know:
- Canada Revenue Agency issued almost $16.2 billion in tax refunds this year.
The average income tax refund is approximately $1450
What are you doing with your refund? Click here for some ideas.
May 4, 2010
"Aside from hockey, worrying about retirement is a national pastime for many Canadians."
(Russell Investments quote)
Working with a financial advisor can help eliminate the worrying by answering these questions:
April 22, 2010
For Earth Day, I thought it was appropriate to post the following article:
April 19, 2010
Mother Nature reminds us that she's in control! A volcano can in fact cripple airlines, freight & commerce.
April 14, 2010
A 90 year old client just told me how she caught a scammer on the phone trying to extort money out of her, while pretending to be her grandson. I say, good for her! Fraud against seniors is way too prevalent. Please look out for your parents / grandparents. The older they are, the more likely it is that they will be targeted.
April 8, 2010
What is Value Investing?
Old financial-based definition:
The strategy of buying good stocks that are undervalued in hopes that the true (higher) value of the stocks will be realized. Looking for bargains.
New life-based definition:
Investing according to your values - what you care about most. Building wealth while making a positive impact to your life, social issues, and the environment.
March 26, 2010
In preparation for Earth Hour (tomorrow at 8:30 pm), I am keeping the lights off at work today.
March 18, 2010
Eldernomics: maturing demographic profile. Never before has Canada had so many persons aged 80 years and over (now over 1.2 million citizens).
March 16, 2010
I am a proud nominee for the 2009 Professional Business of the Year Award. This is part of the 15th annual Oakville Awards for Business Excellence. A Gala dinner is being held on April 8, 2010. www.oabe.caKeep your fingers crossed!
March 11, 2010
Many Canadian parents are not making the most of available tax savings: RBC poll
March 8, 2010
Today is International Women's Day. It celebrates the efforts of ordinary women who have made history in their struggle to work, to vote, to end war in their countries, and to participate in society on an equal footing with men.
The day was marked for the first time in 1911, when more than one million men and women attended rallies in Austria, Denmark, Germany and Switzerland, demanding the right for women to vote, work and hold public office, as well as access to vocational training and an end to discrimination on the job.
In 1977, the United Nations began sponsoring IWD. Today, many countries designate it as a national holiday.
March 1, 2010
From Warren Buffet's letter to shareholders of Berkshire Hathaway Inc: "We pay a steep price to maintain our premier financial strength. The $20 billion-plus of cash equivalent assets that we customarily hold is earning a pittance at present. But we sleep well."
Sleep factor is always a consideration in any portfolio and I discuss this regularly with clients.
February 19, 2010
Phillips, Hager & North, a unit of Royal Bank of Canada, won top honors yesterday at the Canada Lipper Fund Awards 2010, where it was named "Best Fund Group Overall".
February 12, 2010
Will the 2010 Olympics fuel a stock market rally? Research suggests the outcome of sporting events can influence investing behaviour. The last time Canada hosted the Olympics, in 1988 in Calgary, the domestic market rose 3.2% during the games. Good to know!
January 26, 2010
I just finished reading the book Payback (non-fiction, by Margaret Atwood). It is a thought provoking discussion on the origins of debt. She reminds us that debtors and creditors are joined at the hip. One cannot exist without the other, and both can be seen as the "sinner". It puts the recent financial crisis into perspective. "
January 22, 2010
RBC Blue Water Project Commits $1 Million to help rebuild Haiti Infrastructure. RBC also donated an additional $100,000 to the Red Cross Haiti Earthquake Relief Fund.
January 21, 2010
RBC employees across Ontario are very generous. Our United Way campaign reached a new height this year. We raised a total of $7,431,052.54. Bravo!
Haiti is also very much in need of funds right now. Did you know that our Federal Government will match every dollar donated to the Haiti Earthquake Relief until February 12th. For a list of charities in support of Haiti, and to make a donation, click here.
January 11, 2010
Did you know: The S&P/TSX surged 31% last year for its biggest one-year gain since 1979.
January 7, 2010
A new year. Time to review your portfolio and discuss 2010 strategies with your advisor. The economy is recovering, interest rates will be rising later this year. How will this affect you and your family?
Contact me to set up a meeting. firstname.lastname@example.org
December 10, 2009
I am very proud to report that Julie Cole, Tricia Mumby, Julie Ellis, & Cynthia Esp of Mabel's Labels (based in Hamilton) won the RBC Momentum Award at the 2009 RBC Women Entrepreneur Awards Gala. www.mabel.ca
If you are a mom (like me) who is frustrated by the amount of stuff your kids lose, then you need to check out this company. The labels are dishwasher, microwave and laundry safe. And the best part: they are customized with the child's name, favourite colours and icon (animal, symbol, etc.).
December 7, 2009
With all the talk these days about H1N1 and influenza, don't forget about “affluenza”. Affluenza is the term used to describe the concern shared by many parents that raising children in a privileged environment could give them a distorted sense of value.
December 2, 2009
This Christmas, try practicing Retail Philanthropy. Use your consumer dollars for good causes. When buying goods and services, look for those that donate a % percentage of sales to a specific cause, or whose products promote fair trade and create opportunities for the economically disadvantaged. This is easy to practice all year long. For example, when I buy my java, I make sure it's "fair trade" coffee. During the holidays, I buy my Christmas ornaments at Ten Thousand Villages.
For more tips on charitable giving, read my December 2009 Newsletter(The Giving Season: Philanthropy 101).
November 16, 2009
What is a “Trusted Advisor”?
November 9, 2009
2008 was the year that the financial house of cards came tumbling down in the worse banking crisis to hit us in decades, but what will stick in my mind forever is what fell down on Nov 9, 1989.
20 years ago, when the Berlin Wall came tumbling down, I was fortunate to take a trip with my family to Berlin. To this day, I still have a few pieces of the wall (with colourful graffiti) which I chiselled off myself. When we crossed into the East, what struck us the most was how dirty the windows were. The East Berliners had lost hope over the years and since there was nothing for them to look out at, except a concrete wall, they just didn't bother anymore.
How many more walls still need to be broken down in the world? Let today be a reminder that hope springs eternal and we CAN effect change.
November 6, 2009
I love this quote by financial expert Alison Griffiths (of the show Maxed Out). Her advice for kids: "Treat your money like Halloween candy. Make it last!"
This morning I was happy to attend the launch of Credit Education Week Canada.
This year's topic was Men vs. Women - how gender affects the way we deal with money. The national survey results of 828 couples offer very revealing statistics of Canadians and their relationship with each other and money.
For example: Men's worst fear about money is not having enough to retire on. Women's worst fear about money is not being able to pay for their child's education. (Different priorities may explain why 86% of couples argue about money.)
Another example: Those who do not control the money in the household are 55% more likely to hide debt from their spouse. (Things that make you go hmmm.)
One of the guest speakers was the Ontario Minister of Education (Minister K. Wynne). I was happy to hear that she wants credit and financial education to be incorporated into our children's curriculum. Yes, more parents should be having the Money Talk with their kids, but it is also important for schools to recognize the value of teaching money basics to kids. These are skills they will carry with them throughout life, no matter what job they hold.
A Q&A session was also held with a great panel of experts. Moderated by Alison Griffiths, host of the television show Maxed Out, the financial panel consisted of: Ellen Roseman (Toronto Star), Jonathan Chevreau (Financial Post), Pat Foran (CTV), Patricia Lovett-Reid (BNN), & Sean O'Shea (Global TV).
October 29, 2009
Province of Ontario Downgraded. Following DBRS's downgrade to A (high) last week, S&P followed suit and downgraded Ontario one notch to AA- due to the province's deteriorating finances. With a deficit of almost $25 Billion, it's no wonder.
October 19, 2009
It may surprise you to know that I run an annual hockey pool with my clients, in support of Fragile X Research of Canada. In 10 years we have raised almost $40,000 for this charity! This is something I am quite proud of. A client of ours has a son with this syndrome and this is my way of helping out.
Fragile X is the most common inherited cause of intellectual impairment, ranging from learning disabilities to mental retardation and autism. Symptoms include: attention deficit and hyperactivity, anxiety, autistic behaviors, long face, large ears, flat feet, hyperextensible joints, and possible seizures. For more info, please visit: www.fragilexcanada.ca
For 10 things you should know about Fragile X syndrome, click here.
October 13, 2009
The ABCs of Investing.
An emotional roller-coaster, it can be.
Better to have advice than go it alone.
Create a financial plan.
Develop an Investment Policy Statement.
Enter the market prepared or you will exit impaired.
...and moving on down the alphabet...
Zoos welcome bulls and bears, but not pigs - so don't be greedy, be grateful!
October 5, 2009
When a client refers their mother to me, it's the ultimate stamp of approval. It reconfirms that I am the "trusted family advisor". (Thanks JK. I truly appreciate it.)
October 1, 2009
Just had lunch with Sadiq Adatia of Russell Investments and I just have to quote him on this:
"The economy today is like swimming with arm floaties on. If you remove them, would it still keep afloat?"
September 30, 2009
What are one-month T-bills paying, you ask? 0.12%
At that rate it will take you more than 350 years to double your money!
Isn't there something better you could be doing with your cash?
Email meif your cash is still stuck in "park". I will show you alternatives.
September 25, 2009
Psych 101. Your relationship with money affects your investment behaviour. So there is definitely a psychological connection with your portfolio. Give this some thought: What major events in your life have influenced how you view money?
Also, did you know that odors influence consumer behaviours? I wonder what $cent would make investors want to BUY stocks.
September 8, 2009
Canada Retains Its Ranking as Home to World’s Soundest Banks, the World Economic Forumsaid today, backing the country’s efforts to trumpet its industry as a model for the world’s largest economies. Canada was #1 for the second consecutive year, followed by New Zealand and Australia. The United States was 108th out of 133 countries, one below Tanzania.
None of Canada’s 21 banks have sought government funding since credit seized up worldwide in August 2007, prompting Canadian officials to promote the country’s regulatory system and conservative banking culture in forums such as the Group of 20 nations.
August 21, 2009
“U”, “V”, or “W” recovery ? That an economic recovery is in place is no longer up for debate. However, what shape the recovery will takes is now being debated…and driving equity markets.
August 18, 2009
I just read an interesting analogy that said "those who were pessimistic about stocks and the economy earlier this year are going through the classic five stages of grief".
1) they denied a recovery was going to happen anytime soon.
2) they lashed out with anger at those who spotted signs of the recovery.
3) they are bargaining, admitting the existence of the recovery that they did not see coming, but belittling it
4) when things keep moving up, expect them to get depressed
5) acceptance won't fully set in until late next year
August 17, 2009
I am currently taking a mandatory Anti-Money Laundering course. This is in addition to the Anti-Corruption, Anti-Bribery and Anti-Terrorist Financing courses that all RBC employees are required to complete annually. Yes, there is no doubt that the Canadian banking system is regulated.
August 11, 2009
Where are we today?
•We are still in the early stages of the recovery, and while the “green shoots” are real, they remain fragile.
•Crisis still dominates the economy, but day by day, balance is being restored and the risk of a systemic breakdown is fading.
•The housing crisis is no longer intensifying, the credit channel is once again functional, lending has restarted, confidence is improving and markets have rallied strongly from their winter 2009 lows.
•Rock bottom interest rates, massive expansion of the money supply and non-conventional policy initiatives are beginning to have an impact.
•Stocks have posted strong and broad gains from the March lows. As impressive as this rally has been, when you put it in the context of historic valuations, there is still a lot of opportunity in equity markets.
•Economic recovery is at hand with third quarter real GDP expected to be positive in both Canada and the United States
•Europe and Japan are past the worst of the downturn with the UK on the road to recovery
•BRIC economies strong, led by China
Now the debate turns to the SUSTAINABILITY of the recovery.
July 31, 2009
Microsoft (Bing) and Yahoo agreed to a 10 year Web search partnership. For the full story...Google it!
July 29, 2009
Interesting tidbits about the Big 6 Canadian Banks:
combined, they employ approx 299,800 people
operate 3 main business lines - Retail Banking, Wholesale Banking (capital markets) and Wealth Management (retail brokerage)
they hold 70% of residential mortgages
they hold 70% market share in credit cards
they hold 65% of retail deposits
they represent 20% of the S&P/TSX index
most widely held stocks in the index
earnings growth has averaged 9% for the last 20 years
Minister of Finance approval is required for any person to own more than 10% of a bank
polls show that a majority of Canadians are still opposed to bank mergers
since 1998, there has been no formal political position established FOR or AGAINST bank mergers
they are not allowed to promote life insurance, auto or home insurance in the bank branches (only mortgage & travel insurance)
July 24, 2009
Suncor & Petro-Canada are expected to merge in Q3 2009. This is a NON-taxable transaction. However, eligible Canadians shareholders can elect to recognize their Capital Gains/Losses if they wish to. Speak to your advisor if this is the case.
Most shareholders will opt for the "default" tax-free rollover, but recognition of a gain may be useful for tax purposes to offset prior losses (you know, the ones you booked in 2008). Conversely, recognition of a loss may be useful to offset prior or future gains.
July 10, 2009
On June 1st GM declared bankruptcy and 40 days later, it emerges back as a new leaner company with 4 brands: Chevrolet, GMC, Buick and Cadillac. General Motors is now primarily owned by governments. Specifically, Canadian Federal and Ontario governments own 11.7% and the U.S. Department of Treasury owns 60.8%. Does that mean GM now stands for "Government Motors"?
July 7, 2009
You will notice a painting of Grenadier Pond in High Park (Toronto) on my website banner. This painting also hangs in my office and was done by my good friend, Shinya Kumazawa. But yesterday, while the Michael Jackson Memorial was on TV, I was reminded of another painting Shinya once did - one of his cat wearing a red leather "Thriller" jacket.
Shinya grew up in Japan and his first first introduction to MJ's music was having to study the lyrics of We Are The World in English class.
June 30, 2009
Are you interested in knowing what the running tally of national debt is in CANADA and the USA? Check out these web sites:
June 25, 2009
Defining True Wealth: ask yourself these questions.
How do I define success in my working life? In my family life?
How do I define balance in my life?
How do I define success in my financial life?
How do I hope to be remembered someday?
June 22, 2009
Are you a parent of a disabled child? If so, what kind of financial planning have you put in place? Planning for your child's care is of utmost importance and we want to make sure you have peace of mind. For a copy of our article on Henson Trusts or RDSPs (Registered Disability Savings Plans), please email meor better yet, call to set up a personal meeting to discuss your child's needs.
June 3, 2009
Financial Protection for Seniors: the mortality rate for elder victims of financial abuse is estimated three times higher than non-victims. Help prevent fraud. Check out:
June 1, 2009
What some said would never happen, finally has. General Motors (GM), the 100 year old automaker filed for bankruptcy today. The bankruptcy filing is the third-largest in U.S. history and the largest ever in U.S. manufacturing. Dozens of factories will close and Pontiac, Saturn, Saab and Hummer brands will be shed, resulting in a leaner company in the long-run. Under restructuring, GM will also get rid of $79 billion in debt and reduce it's dealer network by 40%. It was bound to happen...
May 27, 2009
Investors are always curious to see which sector will lead the way out of a market downturn. The general theory is that consumer discretionary, financial and consumer staples will tend to benefit first. And typically, defensive sectors such as telecom, utilities and healthcare are the slowest to rebound. But it's important to remember that every bull market is different. With the financial system and consumers facing the toughest conditions in decades, it's unclear whether the related sectors have the resilience to lead us out of the wilderness this time. The best strategy is therefore to own a diversified portfolio, with perhaps a penchant for those sectors that traditionally have led the way to recovery.
May 13, 2009
Unsure what do to with your tax refund? Pay down debt, deposit to RSP, spend on renovations, or other? By using our "Snapshot" tool to review your financial picture, I can quickly and easily give you advice on what is the best use of this cash. Contact metoday to get the answer.
May 4, 2009
Did you know that four out of five businesses are started by women? If you know of a successful woman entrepreneur, please nomitate her for the RBC Canadian Woman Entrepreneur Awards at www.theawards.ca
April 22, 2009
Happy Earth Day! Here are 7 ways to reduce your Environmental "Banking" Footprint:
April 21, 2009
I am proud to report that RBC has been named one of Canada's Greenest Employers and was also named one of the world's top 100 sustainable companies. To find out more about what RBC is doing to help the environment, please visit www.rbc.com/environment
April 16, 2009
Why I don't own RIM stock: I believe in the Power of Dividends. RIM shares pay zero dividends. So in this environment, I'd rather "get paid to wait".