Financial behaviourists have identified well over 20 investment biases that can tempt or lead individuals to invest in a particular way. Generally speaking, none of the biases is good news for investors.

Fortunately, investors who have an advisor aren’t vulnerable to making poor decisions out of fear, hope or any number of irrational reasons. However, understanding investment biases is still valuable. You’ll gain insight into portfolio decisions and better appreciate why not all investments hyped as winners are good opportunities.

KyraJuly 15, 2024Comment

How to avoid or minimize the OAS clawback

Whether the amount is small or large, whether it applies to a couple of years or many, Canadians don’t like their Old Age Security (OAS) pension clawed back.

The clawback is officially known as the OAS pension recovery tax. A taxpayer repays 15% of the amount by which their taxable income exceeds the threshold amount, which is $90,997 for 2024. Here are some common ways to manage the clawback.

KyraJuly 15, 2024Comment

Determining which donation method suits you best

When choosing how to make a large charitable gift, the number of available options can seem overwhelming—especially when each brings its own financial benefits.

To simplify matters, here are personal situations you may relate to, along with donation methods for each.

KyraJune 18, 2024Comment

Consider the timing of leaving an inheritance

Naming a beneficiary in a will may be seen as the most common way to leave an inheritance to a loved one.

However, in certain situations, many people choose to give an advance on an inheritance during their lifetime or have the funds distributed in the years following their passing.

KyraJune 18, 2024Comment

Talking to your significant other about money

Relationships depend on trust, and yet research consistently shows that couples aren’t always completely open with each other about their finances. For example, TD’s 2021 Love and Money survey found that 28% of Canadians in committed relationships had a financial secret they hadn’t shared with their partner—and 64% of those with a secret said they have no plans to ever tell their partner about it.

KyraMay 23, 2024Comment

Five items often overlooked in a will

Each loyalty program has its own rules about whether points can be transferred to a beneficiary, so check your programs’ policies. When allowed, list the loyalty program in your will and name the beneficiary of the points. Also, provide your executor with each loyalty program’s login information.

KyraMay 23, 2024Comment

Will your parents need your help?

The day may come when your parents find it more difficult to take care of their financial matters. Your help can make a difference, whether it’s in the form of your time, advice or financial assistance.

KyraApril 13, 2024Comment

Four ways to protect your credit score

Good credit is important whenever you need to borrow to accomplish your goals—say, to buy a car, start a new business or put a downpayment on a home. So, how can you keep your credit score with Canada’s credit bureaus (Equifax and TransUnion) healthy, so your loans get approved at the best possible rate?

KyraApril 13, 2024Comment

Navigating the retirement risk zone is personal

It’s called the retirement risk zone—the period of several years before your retirement date and the initial years of your retirement. The risk is a severe market downturn and its impact on your retirement savings.

KyraApril 13, 2024Comment

When a wealth plan is fluid

A wealth plan identifies your life goals and provides you with a personalized wealth management strategy to meet your financial milestones and achieve each objective. However, a wealth plan isn’t something you set and forget.

KyraApril 3, 2024Comment