5 sports lessons that teach kids about investing

August 28, 2017

My daughter is a competitive acrobatic gymnast. (See photo) By participating in a team sport, she has learned so many life lessons, which can easily be applied to investing. Here are the top 5 lessons:

Lesson #1 – You don’t always win

Sometimes investments lose money, just like sometimes your team will experience a losing streak. It may be unpleasant, but don’t give up!

Lesson #2 – Resilience

Just because you didn’t medal, doesn’t mean you quit the sport. In fact, you probably try even harder next time. When investments go down, you don’t necessarily sell them either. You use it as an opportunity to review your strategy.

Lesson #3 – Don’t rely on a star player

If your star player gets injured, you are unlikely to make it to finals. Similarly, if you pin all your hopes on just one investment, you run the risk of being disappointed if it falters. You are better off building a solid team (aka: portfolio) of investments, so that one injury doesn’t ruin your chances of success.

Lesson #4 – Have a goal and work towards it

If you are in competitive sports, training is mandatory. You don’t have an option to take a month off. Similarly, you can’t skip a month of savings either. Stick to your goal and keep working towards it.

Lesson #5 – Listen to your coach              

Your coach has done this before.  He/she knows how to win and how to motivate you. This is the same reason why people hire an investment advisor (which is just a fancy word for “money coach”).

Happy Birthday Canada

150 years of awesome!

June 30, 2017

Check out this cool Infographic for some of the most significant social, economic,political and territorial events in Canadian history over the past 150 years.

2017 Federal Budget Highlights

Here is what might affect you...

March 23, 2017

Federal Budget 2017 highlights:

Families: Anyone who has incurred expenses over the past 10 years for reproductive technologies (such as in vitro fertilization) can refile their taxes for that year and claim the expense. This includes single individuals and same-sex couples.

Families: Option to extend EI parental leave up to 18 months (at a reduced rate).

Families: Women can claim EI maternity benefits up to 12 weeks prior to due date (currently 8 weeks)

Sin taxes: One cent more on a bottle of wine, five cents on 24 case of beer.

Bye-bye: No more Canada Savings Bonds. Uber tax: GST/HST to be collected on ride-sharing services.

Public Transit: The Federal tax credit will be eliminated, for transit usage after June 30, 2017.

Tuition: Many occupational skills courses will now qualify for the Tuition Tax Credit.

Care givers: New EI care-giving benefit up to 15 weeks, starting next year.

Businesses and Individuals: EI premiums are increasing.

Disability: Nurses can now certify application forms for the Disability Tax Credit.