Identity theft doesn’t just happen in the movies – it affects millions of people each year and can just as easily happen to you. In a blink of an eye your personal information can become, well, not so personal. Identity thieves steal your credit and good name to commit crimes that …
We all look for cost saving ideas and creative resources to stretch our finances. One area of cost savings we often turn to is the do it yourself approach. But before plunging into the unknown maybe ask yourself, ‘Do I really know what I am doing?’ Have you ever wondered what the cost to do it yourself really is?
You have probably thought it is …
“Give me a lever long enough and a fulcrum on which to place it and I shall move the world.” – Archimedes
So what’s this got to do with Business? That’s a good question. Let me explain…
Leverage is a general term for any technique to multiply gains and losses. By applying the concept and the power of leverage you can achieve a lot more …
I am frequently interviewed about business start-ups and entrepreneurship. The topic of “what is the best advice you can give a new entrepreneur” always comes up. It is a simple answer – the Business Plan.
Imagine being dropped in the middle of the Amazon jungle and told you have 3 days to get to civilization without a map. Starting a business with a goal to …
I was asked in a radio interview what was the most important piece of advice I could give anyone starting a new business. Of course it’s the business plan and everything that goes into it. Anyone, however, can fill out a Business Plan template that they can easily find on the internet. So before writing the great Business Plan in you, consider the three most …
The statistics below from a Royal College of Psychiatrists report show that debt is not only a financial problem it is also a major health issue:
What is the relationship between debt and mental health problems?
- One in four people has a mental health problem.
- One in four people with a mental health problem is in debt.
- One in two people in debt have
Well the good news is that you would not lose everything contrary to the message conveyed by some unscrupulous companies out there. In some cases it may indeed be preferable for an individual to file for bankruptcy rather than negotiate their debts, especially if they earn a low income and have few assets.
When someone files for bankruptcy a trustee in bankruptcy will sell their …
This month I want to explain some of the key differences between a consumer proposal and bankruptcy as these are often misunderstood.
Both consumer proposals and bankruptcy will eliminate unsecured debts. Unsecured debts are those which are not secured against an asset such as a car or house, typical examples being credit cards and lines of credit.
A consumer proposal is an offer …
A recent Pew Research Center report stated that on January 1, 2011, the oldest members of the American Baby Boomer generation celebrated their 65th birthday. The article went on to say that every day for the next 19 years 10,000 American baby boomers would reach age 65 and it went on to paint a dire picture for our neighbours to the south given their …
In a nutshell, the Office of the Superintendent of Financial Institutions Canada (OFSI), is taking a firm stand on what is allowed and what is not in the world of Canadian mortgage underwriting.
Who is OFSI you ask? …
1) Downward Average Your Investments? Never! Adding to losing positions in a bear market is like catching a falling knife. You may badly cut your private … capital.
2) Be Short or Neutral Your Investments. Long positions are for bull markets.
3) Bull markets create many winners. Bear markets create many losers and even the best investors, traders and research analysts may fall on their …
To kick off I would say that there is no quick or magic way to improve your credit score. You just need to follow some basic guidelines consistently and avoid certain habits.
What is a Credit Score and How is it Generated?
Creditors report information on their clients payment history, available credit, type of credit, payment defaults etc. to credit bureaus such as Equifax and …
A day does not go by without my having clients express their concerns about approaching retirement. I feel their angst. I, along with an estimated 14 million other Canadians, will transition into hopefully blissful retirement over the next 16 years. In the process we will convert an estimated $3 trillion in wealth to fund our retirements. A key question to answer is whether we approaching …
Yesterday I had an interesting conversation with a friend about our Vancouver real estate market and the state it is in. His comment to me was “how can anyone afford to buy their own home?” and I really had to think about the best answer to this.
You see, as an Accredited Mortgage Professional, many of the people I deal with that are first time …
According to the GAO (Government Accountability Office in the United States) it is estimated that a “typical” small business person overpays their taxes by (on average) $11,000 per year. I dare say that, on average, we Canadian small business owners leave just as much money on the table.
As contractors, small business or home-based business owners, we are in the business of making money… yes? …
When you think about participating in a tradeshow, do you find the prospect a little intimidating and perhaps a little overwhelming? You are not alone. Planning for a successful tradeshow can be a lot of work and can eat up valuable time and money that could otherwise be used elsewhere. For this reason, it is very important to have a strategy so that you can …
Elizabeth Taylor Jewelry Auction Earns $115 Million, Sets 7 World Records
By Victoria Gomelsky, Editor in Chief
Posted on December 14, 2011
Photos courtesy of Christie’s
Like disciples gathering at the altar of their high priestess, the jewelry faithful packed the showroom at Christie’s New York Dec. 13 for an evening sale of Elizabeth Taylor’s “Legendary Jewels,” an epic assortment of 80 lots …
As you head into the New Year, it is worthwhile to evaluate what worked and what didn’t in 2011. Only on reflection can you decide what course of action or changes need to be made. If you resolve any nagging issues you’re more likely to achieve your goals in 2012.
And, don’t be afraid to remove objectives altogether. Changes …
First, watch this video
What this means for you:
Silver is poised to become the new GOLD and the upside potential is huge!
Consider Silver in your investment portfolio.
Silver shortages mean you should consider buying silver jewellery. Since the price of silver is undervalued, when you design your jewellery, silver is a good bet as a future investment. In other words, …
For the past three years I’ve had “Benefits” as a line item on my Business Plan for the coming year. Every year it got pushed down farther on the list and lets face it, doing research on insurance offerings is about as interesting as watching paint dry. Last year I had the opportunity to get to know Margaret Reynolds Life and Health Insurance Advisor from …
According to the Fraser Institute, the average Canadian family pays approximately 40% of its income in taxes! To reduce that percentage for your family, consider what deductions you can apply to your income tax return. As the year ends, this is the time to seriously consider employing a strategy such as this to reduce your 2011 tax bill.
You Can Have More (Much More!) Money …
This is the third in the series of posts illuminating the benefits of acquiring Mortgage Insurance from an insurance professional rather than from the lender when securing your mortgage. In the previous posts you learned that you have the power to decide to benefit from Underwriting at time of issue rather than at time of claim as well as possible lower personalized premiums. Today we …
Having read the first post in this four part series, you now know that there are significant differences between mortgage insurance purchased from an insurance professional like me or purchased from the lender when securing your mortgage. This is the second in the series outlining the differences between the two.
Difference # 2
Individual Life Insurance
With an individual life insurance policy, the
Mortgage Insurance is important to ensure that your family and loved ones are not additionally saddled with the ongoing obligation in the event of your premature death. There are significant differences between mortgage insurance purchased from an insurance professional like me or purchased from the lender when securing your mortgage. Starting with this post and continuing over the next two weeks, I’ll be sharing 4 …
Most business owners would agree that one of their largest expenses is office rent. It is not uncommon for net office rental rates in quality office towers in downtown Vancouver to exceed $35 per square foot. In addition to net rent, a business owner must pay a share of operating expenses and property taxes and that can be as much as $20 per square foot. …
Look at that flower-shop owner, now look at me.
Look at that engineering consultant, now back at me.
Look at that restauranteur, now back to me.
Sadly, they aren’t me, but if they got into their numbers, they could be.
Look down, look back up, where are you? You’re with a person who loves numbers.
What’s in your hand? The keys to your …
by Maggie McKee
I’m certainly not an accountant but I am Scottish (and Irish)! I discovered the hard way that being an employee with no tax advantages sucks!! For the first 25 years of my teaching career I paid the full income tax bill! My wasbund (I’m sure you can figure that word out) was able to claim the kids on his tax return when …
Especially with the economy suffering the way it has been of late and even in the absence of an economic downturn it is a common refrain. All my business troubles would be over if I just had a few more customers, some better customers, just a bit more revenue! My overhead costs are all fixed, any extra revenue goes straight to the bottom line.
What is the predictable trend for diamond prices this year and into the foreseeable future?
Let’s look at the data available so far. Diamond rough prices at DeBeers rose 15-17% in June this year. BHP (Canadian diamonds) rough rose 10-15%. Bloomberg published reports that diamond prices are outperforming gold in increases. At the end of March this year, the Rapaport diamond price list, a well- …
Well, the verdict is in. BC’s short lived harmonized tax will be rendered to a footnote or maybe not.
I was at the front of this divisive debate in as much as the tax would effect restaurants.
The immediate impact was a dive in industry sales by about 9% when HST was implemented in July 2010. Not much has changed.
Is it the HST that …