Dec
10

Interesting Facts on Canadian Holiday Spending in 2019

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Here are some interesting findings from Deloitte’s 2019 holiday retail outlook: • Overall consumer outlook is positive with 79% of Canadians planning to spend the same or more during this holiday season compared to last year. • 12% of Canadians plan to spend more on the holidays this year with men, younger shoppers aged 18-34 and those who start shopping early being most likely to increase their holiday spending. • Boxing Day/Week seems to be on a losing streak as only 1 in 3 shoppers plan to shop at this time. • Consumers are planning to make six trips to the...
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Dec
04

Federal Transfers to Provinces and Territories

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In 2019-20, provinces and territories will receive $78.7 billion through major transfers. Here’s a breakdown: - the Government of Newfoundland and Labrador will receive $764 million - the Government of Prince Edward Island will receive $649 million - the Government of Nova Scotia will receive $3.4 billion - the Government of New Brunswick will receive $3.2 billion - the Government of Quebec will receive $25.5 billion - the Government of Ontario will receive $21.3 billion - the Government of Manitoba will receive $4.3 billion - the Government of Saskatchewan will receive $1.7 billion - the Government of Alberta will receive $6.4...
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Dec
02

Busting Financial and Investing Myths

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Myth #1: I don’t need to be an investor. My job will take care of my financial wealth. Many people assume that they do not need to be an investor and that their job or their business will take of their financial wealth. That is a big financial myth! The truth is you do need to be an investor and your job or your business is not your financial wealth – although your business is part of your wealth. It is important that you know that your current job or your business and savings plan will not be nearly enough to...
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Nov
26

Why “Invest for the Long Term” is Obsolete Advice

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In the late 1980’s, a number of things happened that changed the economic landscape- a number of mutual fund companies boomed, number of financial planners exploded and demand for shares of stocks skyrocketed. Until then, most Canadians invested in GICs or Canada Savings Bonds. It is a known fact that all mutual funds require fees regardless of whether you earn money or lose money. Moreover, Canadians actually pay much more for the same services than Americans do. Canadian fund profit margins are among the highest in the world. The no load funds simply charge an annual marketing fee which affects and...
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