In the first part of our Learn To Trade Stocks Online series, our investing newbie – Money Wise editor Penelope Graham – dives into the world of stocks and bonds via a practice account. From learning the lingo to placing her first order, read on to witness her online trading learning curve – and see what our guinea pig has in store for next week.
Whether you’re saving for your kids’ education, or building up your retirement fund, a savings strategy is a must. But don’t just sit on your nest egg – explore diversification options like RESP’s, GIC’s and TFSA’s to make the most of your stashed-away funds.
You probably heard the news that in the latest federal budget, the government has changed the age at which payouts from the Old Age Security (OAS) payment program begin from 65 to 67. If you didn’t, you’re probably too young to think it matters to you. Well guess what, it does! Here, we review what the change means – and review some retirement planning options – based on your current age bracket.
Like most of us, you probably pledged to lose a little weight, get more active, and to get a better grip on your finances this year. Unfortunately, resolutions are much easier made than kept. If you’ve made a money-related resolution, but are having trouble staying on track, you might just need a little motivation. Below, I’ve provided a list of this year’s must-reads.
Not all savings accounts are created equal. Some offer you unlimited access to your money in exchange for a monthly fee, while others charge you nothing provided you leave your money where you put it. The type of account you choose really depends on you.
The old expression “Nothing ventured, nothing gained” is especially true when it comes to investing, but some types of investments are definitely safer than others. Before considering investing in stocks, bonds or commodities, take the time to do a personal risk assessment.
Nobody wants to lose a shirt; a good investment is a wise investment.
Before you venture into investing, you need to determine two things: your personal risk tolerance and your needs and goals. In order to do this properly, you need to understand the different types of investments and the amount of risk involved with each.