Investment Strategies

How to Double Your Investments Fast

How to Double Your Investments Fast

I just found out this simple formula “Rule of 72” to calculate the amount of time require to double any type of investment. It only gives a rough estimate, but it’s useful enough while talking in person to any sale representative about investment types and options. For example, if you want to double your...

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Interest Rate Prediction vs Federal Election

Interest Rate Prediction vs Federal Election

Many banks have predicted the interest rate will continue to hike rapidly in year 2011. However I doubt it! The current prime rate is 3% at all Canadian major banks. With the federal election coming up this May, there is a huge chance the rate will not increase at all by the end of...

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Home Buyers’ Plan (HBP) – how to maximize this plan

Home Buyers’ Plan (HBP) – how to maximize this plan

Before we begin this topic, we will briefly discuss how HBP works. Then we will talk about how to maximize this tax-saving strategy toward the end of this article. Home Buyers’ Plan (HBP) allows first-time homebuyers to withdraw RRSP to purchase or build a home without having to pay tax on the withdrawal. RRSP...

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IPP – Supersize Your Retirement Savings

Many Canadians have seen their RRSPs take a significant toll in the markets during this Global Recession. Most can do little more than hope for a quick recovery. But there is another option. It’s called Individual Pension Plan (IPP). What’s IPP? IPP stands for Individual Pension Plan. It is perhaps the least known, yet...

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How to Calculate RRSP Contribution Room

How to Calculate RRSP Contribution Room

How is RRSP Deduction Limit / Contribution Room Calculated? Long Definition: a taxpayer’s RRSP deduction limit for a year is equal to 18% of the taxpayer’s earned income for the previous year (to a maximum amount) minus an amount in respect of benefits that accrued to the taxpayer under registered pension plans (RPPs) and...

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RRSP – national average annual contribution

Is your RRSP contribution up to par? According to Statistics Canada, RRSP contributions rose 5.3 per cent to $34.1 billion in 2007 with the following trends. Newfoundland and Labrador The highest percentage increase in the number of RRSP investors (up 5.3 per cent) Quebec The largest increase in absolute number of RRSP investors, at...

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JACKPOT Lotto 649 – how to win and predict numbers

Playing lottery is a quick way to become an instant millionaire. Despite the fact that the chance of winning is very small, you will not win if you do not buy a ticket. However if you buy one, at least you will have a chance, right? All investments carry some degree of risk, and...

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Feature Story

How Much Do First Nations Chiefs Make Annually across Canada?

Chief Ron Giesbrecht in BC took home almost $1,000,000 INCOME TAX FREE! His band has a population of only 82!!! Chief Jim Boucher in Alberta claimed an annual salary of...

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Top Financial Stories

How Much Do Tim Hortons Owners Earn Annually?

Tim Hortons store owner pockets each year: $265,558 and more (after tax & interest)!!! In year 2002 for an average Tim Horton's outlet: Gross earning: $1.5Million...

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