Blog written by Kathy Waite (Click the teal title text for the full blogs)
Net Worth Management is the art of making the most of what you have.
Kathy Was featured in Canadian Family Magazine's April issue
"Teach your children about money, and help them understand how to save, spend and donate"
"House rich and cash poor isn't much fun!"
CPI Indices rise more across Prairies
The Regina consumer price index rose by 2.4% last year while the Canadian index only rose 1.5% from January 2013 to Jan 2014 as measured by the All-items consumer price index. (Saskatchewan Bureau of Statistics)
Saskatchewan posted an average increase of 2.3% beaten by Manitoba and Alberta with 2.6% and 2.7%, and underscored by BC with no change.
This goes in line with what most consumers are feeling across Saskatchewan as the pennies do not seem to stretch as far.(Click the image for larger version)
Things to do with your RRSP Refund!
Check out this video to understand what a Fee Only Financial Planners is.
Eureka works on a annual subscription/retainer with NO commissions & NO sales/selling. For more on what fee only financial planning his visit our fee only page here
Kathy Waite was featured in Wealth Professional Magazine this month!
Click image for larger version
Kathy was featured in a financial post article, "How to break up with your Advisor"
Some excerpts from the article are below.
Other things to do with that cash
RRSPs are not always the right thing to do. Sure they have benefits, you can Google RRSP’s and find 1000’s of articles on why you should be using them, but what are your other options?
Everyone’s situation is different for an unbiased perspective on your unique situation look up at fee-only financial planner.
On Tuesday the federal budget was announced.
Essentially a balanced budget this year, with a projected surplus of $6.4B next year. A surplus will bode well for the conservative government in 2015 in time for the next election.
Here are a few points you should know:
Spending & Programs:
- $1.6B to research and innovation – will benefit universities.
- $500m to auto sector – mainly Ontario.
- $305m to rural broadband.
- Money to infrastructure (Eastern Canada).
- $100-million a year for interest free loans for trades.
- $391.5m to Parks (not much in the next 2 years, lots more after 3 years).
- More funding for food safety.
- $200m to national disaster programs – driven by Alberta floods
- Beer regulations relaxed to stimulated craft beer industry
How was this paid for?
- Tobacco tax increase (Approx. $700m)
- Billions (Approx. $4B) was reallocated from Defense spending
- Closing offshore tax loopholes (Approx. $1.6B)
Not included: (but should have been)
- No stimulus for low-growth economy
- No measures for reducing household debt
- No significant measures for young people
- Income splitting was delayed until nearer to the next election
Ever wonder what Halloween is costing you? Well check out our info graph below. Should you be worried about a one off $70 expense?...probably not. More of a concern should be your pesky investment fees that are $1,000s of dollars a year. You price pick on candy for Halloween so why don’t you price pick on your investment costs!
Contact us today for more info.
If you have any ideas for Eureka’s “Cost Of Series” please submit them at info@eurekainvestorguidance.ca
(Click for larger image)
Part 1/3 in the "How's My Portfolio Doing?" series.
The series will cover:
1. How Should My Investment Portfolio Be Performing?
Including a Case study with a video walk-through of the excel spreadsheet
2. How Does My Portfolio Match Up?
Including a look into Return, Risk, and Cost
3. How Do I Fix My Portfolio?
ASK ABOUT: free portfolio allocation check, first 10 requests are free!
The Government of Saskatchewan has recently added to the existing 20% RESP contribution from the federal government. The increase of 10% is called the Saskatchewan Advantage Grant for Education Savings Plan (SAGES) program. Now some individuals are eligible for up to 30% contributed to their RESP plans!
A family annually contributing $2,500 into their child’s RESP could receive up to $750 from the government. Over 17 years this would amount to $12,750 from the government if you contributed $42,500.
For more info contact us at info@eurekainvestorguidance.ca to find out how we work.
Are “Financial advisors” are working for clients?
Why does it matter to me how my advisor is paid??
How do you know if you are being given good advice or sold a product?
Can you trust someone whose interests aren’t aligned with yours?
STOP going with the flow and find out how the people you trust with your savings are paid.
We start with the end in mind. Lets be clear what we are trying to achieve, assess progress so far, all the stuff you have gathered in your lifetime ( good and bad ) learn what options we have, find ways to move forward and get results for you.
You know the hard part? Its getting started , stopping the procrastination!
Don't know what you want? Where you want to be in the future? I bet you know where you DO NOT want to be though!