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Welcome to my new blog. This site will be a rich source of information regarding insurance and finance for Canadian families.

Feel free to leave comments and questions regarding insurance, investments and other financial matters.

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Popular posts from this blog

Trump Tweets

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President Donald Trump has been shaking up the whole establishment, issuing travel bans, repealing the Affordable Care Act (ObamaCare), tweeting about industries like defense and auto manufacturers. When a President of a country calls out companies or industries, the stock market reacts to it. When Trump tweeted about the F-35 jet being overpriced, six of the 28 stocks in aerospace and defense industry dropped 2% or more. When he tweeted about car manufacturers building plants in Mexico saying they should build the plants in the US or pay big border tax, Toyota’s stock loses $1.2B in value 5 minutes after the tweet came out. When Trump issued the immigration travel ban on a weekend. Airline stocks in the US that has international destinations lost $4.9 billion in market value . When Trump signed an executive order to review or end the financial regulations set up during the Obama administration which was enacted after the 2008 financial crisis that was meant to protect cons
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Just The Minimum Please

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I see a lot of clients looking to get home insurance and when I ask them how much they want to insure for, they always say, "we only want the minimum, we don't have a lot of stuff". It's interesting when people say that because all they're focused on is how much it would cost them to buy the insurance. They never really think about how much it would really cost to replace what they own. Home insurance policies are normally set up to insure you for "replacement cost". This means that they'll get you back to where you were before the loss, never more, never less. So if your neighbor upstairs had a water leak and your 55" 4K Ultra HD TV that you bought for $2,500 3 years ago short circuits because of that, the insurance company will replace the TV with the same brand, size and model without depreciation. They're not going to say that it's 3 years old now, here's $500 to replace it. People don't realize this so they underest
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TFSA, RRIF and other changes from the 2015 Federal Budget

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Here are the personal tax changes from the Federal Budget yesterday. TFSA The TFSA was introduced in 2009 as a way to save and invest for your future on a tax exempt basis. Contributions to a TFSA is not tax deductible but gains, income and withdrawals are tax free. Originally, the TFSA started with a $5,000 limit subject to inflation adjustments of $500 increments. Because of this, the TFSA limit from 2009 to 2012 was at $5,000, but changed to $5,500 from 2013 to 2014. The new 2015 budget proposes to increase the TFSA annual contribution limit to $10,000 effective immediately and going forward. However, the annual contribution limit will no longer be indexed to inflation but will be increased only if legislated. So if you have never contributed into a TFSA, you can now contribute up to $41,000 as long as you have been 18 years old since 2009. You can invest your TFSA into a variety of investments like stocks, bonds, GICs, mutual funds and segregated funds. RRIF A RRIF i
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