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May 14, 2013

Canadians are sold on safe neighbourhoods

1302218_50183007When it comes to buying a new home, the majority of Canadians are sold on safe neighburhoods.

There's a lot to consider when looking for a new home besides the price and the features it has to offer.

In fact, a safe neighbourhood is the big sell for homebuyers, according to a survey by BMO Bank of Montreal.

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April 15, 2013

Wondering where to find the best place to work?

Wondering where your next job should take you? Google, Habanero and Royal LePage take top spots in this year’s 100 best places to work in Canada ranking.

The annual competition is based on years of research by the Great Place to Work Institute with input from more than 57,000 Canadian employees this time out.

The actual rankings are based on the culture of the organization that's modeled on the five dimensions found in the employee view of a great workplace.

On top of that, a culture audit helps identify gaps between the impact programs are intended to have and their actual influence on employees.

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April 12, 2013

Save or buy a lottery ticket?

LottoWhat are the odds?

No, really. What are the odds of actually winning the biggest Lotto 6/49 jackpot in Canadian history?

Well, I wouldn't quit your day job.

According to statistics, chances are one in almost 14 million -- well, one in 13,983,816 to be exact.

Up for grabs is an estimated $55 million jackpot which is continuing to grow.

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March 27, 2013

How much are your employee benefits actually worth?

Although they vary sharply across companies, employee benefits are designed to add value to an overall compensation package. Typically, they include things like vacation time, sick days, health and drug plans, disability benefits, life insurance, and retirement plans.

If you're lucky, they might also include items like a car or gas allowance, child-care, employee discounts, education assistance, legal assistance, gym memberships, etc.

But many people find it difficult to place a value on their benefits, preferring instead to focus on salary since it's immediate and tangible.

After all, you can't eat benefits and who says you'll even need glasses down the road?

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March 07, 2013

Canadians investing in retirement with RRSPs

It seems that Canadians are investing in their retirement a little more than usual.

Now that the RRSP contribution deadline has passed, BMO Bank of Montreal released a study which revealed that 63 per cent of those polled made or had planned on making a contribution to their RRSP before the March 1 deadline.

That's an increase over the previous year when only 38 per cent indicated they were contributing.

So what's the logic behind stashing away your cash now for your golden years ahead?

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February 22, 2013

Mutual funds a popular RRSP choice

Decisions, decisions.

Registered Retirement Savings Plan (RRSP) season is upon us and there are a wide range of investment options available from which to choose.

So how do you plan on making these important investment decisions?

Well, one of the more popular investment choices seems to be mutual funds for RRSPs, according to a new report by BMO Bank of Montreal.

The study revealed that 72 per cent of Canadians say they hold mutual funds within their RRSP, and that mutual funds make up about one-third (31 per cent) of all holdings held in RRSPs.

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February 20, 2013

Trimming the little things can make a big difference

CalculatorWhat if you made your morning coffee instead of heading to the drive-thru on your way to work? Crazy idea isn't it?

But is saving some extra money really so crazy?  Believe it or not, those trips to the coffee shop really do add up.

According to the Office of Consumer Affairs (OCA), if you save the $5 instead of buying that latte -- even at 1.5 per cent interest -- you will save about $5,500 over 25 years. Not too shabby, eh?

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February 19, 2013

Tax tips for families

Cra-1Filing taxes may not be child's play but child's play may give you a tax break.

If you have children, there may be some tax benefits you can take advantage of when filling out your income tax return this year.

For instance, if your children play sports such as soccer, baseball or even participate in dance classes you may be able to claim up to $500 per child for a non-refundable tax credit of up to $75 for each child. It is a great incentive to get your children involved in physical activity and it helps offset your user fees. And, if your child qualifies for the disability amount you may also be able to claim an additional $500 as long as a minimum of $100 is paid for registration or membership fees for a prescribed fitness program.

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February 15, 2013

Retirement not on the menu for dating couples

Forget the champagne and roses, what about retirement plans?

Believe it or not, talking about retirement isn't one of the top conversations for dating couples.

In fact, only 28 per cent of Canadian couples say they shared their plans for retirement with each other before getting married.

And those who did discuss their plans figure they need at least $1 million to fund their retirement years.

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February 13, 2013

Consider filing your taxes online this year

1105358_11295203The internet is quickly becoming the perfect place for online shopping, dating and yes, even taxes.

As a matter of fact, more than 65 per cent of tax returns are now filed electronically. It's safe, secure, easy and convenient!

And with tax season being just around the corner, Canada Revenue Agency (CRA) offers some handy tips to help you file your 2012 income tax online.

To get started, make sure you visit their website to learn about ways to help reduce your taxes. Then, gather all your receipts, information slips and a copy of last year's return to use as a guide. 

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Gordon PowersGordon Powers

A long-time fund company executive, Gordon Powers now heads up the Affinity Group, a financial services consulting firm. Gordon was a personal finance columnist for the Globe & Mail for many years, has taught retirement planning...

Jason BucklandJason Buckland

The modern-day MC Hammer of money, Jason can often be seen spending cash that isn’t his with the efficiency of a Wilt Chamberlain first date. After cutting his teeth as a reporter for the Toronto Sun, he joined the MSN Money team with...