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Jun 21, 2023 | 
moneysense.ca | Harvest ETFs |Robb Engen
Indeed, the 60-somethings surveyed who still had a mortgage owed about $256,000, while their total debt load was still about $436,000. Typical debt for 70+-year-old CanadiansEven Canadians aged 70 and older are carrying mortgage and line of credit debt. Of the 70-year-olds who responded to the survey, 11% still carried a mortgage balance and that average balance was still about $217,500. Furthermore, 15% of those aged 70 and up carried a HELOC, with an average balance exceeding $124,000.
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Jun 16, 2023 | 
moneysense.ca | Harvest ETFs |Kyle Prevost
Times were so bad for tech in late 2022 and early 2023 that even the perma-tech-bull Cathie Wood started selling shares of chip-king Nvidia (NVDA/NASDAQ) beginning October 2022. Investors make plans, and the market gods laugh. So much for the idea that tech was done disrupting, and that it was going to take years before another growth cycle was ready to begin. Tech has been the saving grace for many investors’ portfolios this year.
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Jun 9, 2023 | 
moneysense.ca | Harvest ETFs |Kyle Prevost
Is investing a gamble? If you’re going to bet on something, bet on Ben Carlson for a good perspective. He wrote an excellent oped titled, “The Stock Market is Not a Casino.”There are Canadians, who don’t really understand the stock market and like to compare it to gambling. True, some investors treat short-term speculation like a blackjack bet.
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Jun 7, 2023 | 
moneysense.ca | Harvest ETFs
If you are struggling with mounting debt as the cost of living rises in Canada, you are not the only one. It may be student loans, a line of credit, a mortgage or balances owing on credit cards, but few people these days are completely debt-free. The average Canadian owes $21,183 in consumer debt (excluding mortgages), according to a December 2022 report from Equifax. If you’re carrying multiple debts, you might be unsure which to tackle first, or what is the best way to repay it.
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Jun 2, 2023 | 
moneysense.ca | Harvest ETFs |Kyle Prevost
Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, shares financial headlines and offers context for Canadian investors. Raising the roof on the U.S. debt ceiling Nervous investors (including myself) rejoiced this week, as America’s elected officials decided not to crash the world’s economy and make life worse for all of the folks who voted them into office.
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Jun 1, 2023 | 
moneysense.ca | Harvest ETFs |Cooper Langford
What is covered call writing? Covered call writing is a strategy that uses call options to generate additional cash flow from stock holdings. Call option ETFs (also known as covered call ETFs or equity-income ETFs) generate additional income by “writing” (selling) call options on some of the stocks they hold and then distributing the premiums to investors. These ETFs can provide high monthly cashflow and tax efficiency, and they reduce loss during turbulent markets.
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May 30, 2023 | 
moneysense.ca | Harvest ETFs
When you work in the finance industry, money is on your mind. But not everyone thinks about debt. Debt inevitably comes up if you work in the credit industry, though, like Jenelle Dito, senior director of the FICO Score department at the American company Fair Isaac Corporation. Never heard of FICO? Think: one of the OG credit rating companies (FICO started in 1956), which provides info to consumer credit reporting agencies Equifax and TransUnion.
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May 26, 2023 | 
moneysense.ca | Harvest ETFs |Kyle Prevost
Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, shares financial headlines and offers context for Canadian investors. Hitting our head on the U.S. debt ceilingBy far, the dominant force influencing markets this week was the completely illogical farce that is “the U.S. debt ceiling” debacle. We try not to delve deeply into partisan politics here, as we try to keep focus on the more nuanced and interesting forces of the world’s financial markets.
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May 25, 2023 | 
moneysense.ca | Harvest ETFs |Shaun Maslyk
The classic question: “Does money buy happiness?” Before either of us can answer, we need to define happiness. What does happiness mean to you? Articulate what it looks and feels like for you. For many Canadians, it’s difficult to clearly define happiness. A study from the American Psychological Association found that those who make “happiness” the primary goal often end up being less happy. Why?
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May 24, 2023 | 
moneysense.ca | Harvest ETFs |Allan Norman
Planning for withdrawals To model this, I’ll assume you have $400,000 in a non-registered account with an adjusted cost base (ACB) of $250,000, $225,000 in each RRIF, and $135,000 in each tax-free savings account (TFSA). I will also account for inflation of 2% and assume you’re earning 5% on your portfolio. For the sake of the example, I’ll say your husband passes at age 90 and you at age 100.
