Why day trading generally doesn’t work

Commission Transaction Fee

Now I am not against the idea of day trading in theory. The stock market is comprised of average investors, who are Mom and Pops, institutional investors who are subject to many rules and regulations, and hedge funds, who are also subject to various rules and regulations. So you think to yourself, "Hey, I am my ...

Defined Pension Plan = Overrated for the savvy investor!

Gold Piggy Bank

It is that time of the year again! Taxes! New TFSA Contribution room! RRSP Deadline! This will inevitably spur the discussion of Federal Government's "Gold Plated" Defined Pension Plan and how it's anchored basically by tax payer money. Globe and Mail reported that the public sector pension is simply unaffordable. Is it really that awesome ...

Pyramid Schemes and MLM Schemes

Pyramid Scheme

I recall seeing an wall ad on campus several years ago about a 2-hour financial independence seminar. Thinking it was related to investing and personal finance, I excitedly attended. In the conference hall, there were about 50 others already there. I noticed people from all walks of life there. I saw young guys suited up ...

Using Norbert’s Gambit for Currency Exchange with TD Waterhouse

Currency Exchange

It's that time of the year again, Christmas vacation, snowbirds flocking down south. Many of us will be needing US dollars to spend south of the border. You go to the bank and get quoted a rate of 1.19 when the spot rate is around 1.16. That is almost a 3% premium! You begin to ...

TD Waterhouse President’s Account Complete Guide

TD Waterhouse Logo

So far, I only had a vague idea of what this exclusive account is. You had to have over $500,000 in invest-able assets or generate over $5,000 in commissions. I heard of rumors that you get cool benefits such as exclusive events. It is pretty much the Centurion Card of TD Waterhouse. Today, while I was ...

Financial Advice: Millionaire By Age 41 (Chatelaine)

Couple Boat

Prelude: I will be analyzing sample individuals and evaluate their finances as if they were a company. How do they stack up if their finances were publicly available? Would investors "buy" their shares? In this segment, I am re-evaluating the financial situation from chatelaine.com and comparing my results with their financial experts. chatelaine.com Millionaire By Age 41 Name: Gerry ...

Financial Advice: Age 26, Frugal, Renting, Aggressive Investor

Young Black Professional Investor

Prelude: I will be analyzing sample individuals and evaluate their finances as if they were a company. How do they stack up if their finances were publicly available? Would investors "buy" their shares? Name: Francis Collins Age: 26 Income: $46,000 Monthly After Tax Income: $3000 Monthly Expenses: $1475 Home: No, renting at $400 per month. Summary: Francis Collins is a young professional who has ...

Financial Advice: Age 27 Professional, Single, New Homeowner

Single Female First Time New Homeowner

Prelude: I will be analyzing sample individuals and evaluate their finances as if they were a company. How do they stack up if their finances were publicly available? Would investors "buy" their shares? Name: Diana Nathan Age: 27 Income: $60,000 Monthly After Tax Income: $4000 Monthly Expenses: $2800 Home: Yes, $340,000 at 20% down Summary: Diana Nathan is a young professional who has been ...

How to Build Your Risk Tolerance when Investing

Risky Tightrope Walking

I bought my first stock in early 2010, which costed me something thousand dollars. Yes, that was my entire life savings at the time! Several days after I bought it, it dropped several points and I was sitting on a paper loss of $400. I logged into my brokerage account, noticed that my stock numbers ...

Is the Home Buyer’s Plan (HBP) Worth It?

Home

What is the Home Buyer's Plan? According to Revenue Canada's website: The Home Buyers' Plan (HBP) is a program that allows you to withdraw funds from your registered retirement savings plans (RRSPs) to buy or build a qualifying home for yourself or for a related person with a disability. You can withdraw up to $25,000 in ...