What it means if you have Not started saving by 30

Let’s get right to the point — it means nothing if somebody has attained age 30 and not started to save money for the future.

A U.S. personal finance expert recently when she suggested that individuals should plan to have their yearly salary saved by the time they are 30, three times their wages at 40, six times at 50, eight times by 60 and 10 times by retirement. The answer from some young adults was amused skepticism. A whole lot of them would be to get their careers going and do not find themselves able to save that much by 30. read more

Worried your presale condo may be cancelled? Research the developer first

With a sigh and hesitant pause, Jason Paris confides that in retrospect he wishes he’d done more research before putting down a deposit on the now-defunct Museum FLTS condominium project in Toronto’s trendy Junction Triangle area.

The 43-year-old television production manager is one of hundreds of would-be homeowners who recently had their money returned and dreams dashed when the building’s developer, Castlepoint Numa, cited lengthy delays obtaining the necessary approvals, building permits and financing, as reasons for the halt. read more

How seniors moving in together can protect their retirement savings

Rising rates of divorce among seniors indicate they might need a refresher about some of the facts of life.

Here’s one: Think about the co-habitation arrangement if you opt to move in with somebody as opposed to getting remarried. Maintain your retirement savings secure.

In the Shulman Law Firm in Toronto, they note that blessed seniors are increasingly choosing to live with new spouses instead of get remarried. Ron Shulman, the company’s founder, wonders if these seniors are working under the misconception that there are no worries about a division of property when a common-law connection ends. read more

Investment clubs aren’t only a thing of the past

Some see it as a throwback to another era, but a group of 20-something Calgary engineers say they heartily recommend membership in an investment club after running one for three years.

A well-worn copy of a Canadian Investment Institute book called How to Start and Run an Investment Club for Fun and Learning, spotted in a second-hand bookstore four years ago, gave founder Taylor Merritt the idea to create The Hillary Club. read more

Loblaw to merge Shoppers Optimum and PC Plus loyalty programs

Clients at Shoppers Drug Mart or some of Loblaw Companies Ltd.’s grocery stores will soon use a new, unified loyalty program that replaces Optimum and PC Plus points.

Loblaw will unite the two programs starting Feb. 1, 2018 under the name PC Optimum — a long-anticipated move that comes more than three years following the grocery giant obtained the drugstore chain and its in-house Shopper Optimum system. read more

Why you shouldn’t throw out your Newspaper Canadian Tire money

It was nearly five years ago that the penny was pulled from circulation in Canada. Nearly worthless currency has not disappeared in this country entirely, though. Not if you’ve got any of these five- and 10-cent denominations of Canadian Tire money floating around your home.

There’s a 10-cent bit of Canadian Tire money on the kitchen counter right now, and many others no doubt concealed in desk and dresser drawers. They may not even add up to a dollar, which is to say that the time and effort in collecting them together would not be worthwhile. Or would it? A recent Describes the substantial value that a Canadian Tire money must collectors. read more

Low interest rates have turned us into a State of Cash klutzes

The single worst thing to happen for this nation’s personal financing in the past ten years is that the decline in rates of interest.

Bear in mind that as we make our way through another Financial Literacy Month, with its useful tips from government agencies, banks and others. There is a view that we may instruct our way to better standards of financial literacy, and it is legitimate for sure as long as it is done in a way that engages people. read more

The world’s most frugal frequent travellers share their secrets

No matter how good you think you are at saving money on travel, you need to read this . There’s so much good information here on booking flights and hotels, packing light, keeping your money and credit cards safe and more.

A few tips I’m already using or will be:

– Clear your cookies: Booking websites store cookies on your website to they remember your details when you come back. This allows them to show you a higher price and make you think that a quick booking is needed to avoid further hikes. You can also look at booking sites using an incognito browser window.
– Use websites like to find cheap vacation destinations: Yes, there’s a Canadian version of this site.
– Packing cubes: My wife and I tried them on a recent vacation and they’re excellent for compressing clothing to maximize space in a suitcase. We bought ours on the cheap at a dollar store read more

Meet the robo-planner: Money Replies Without a push to buy investments

Some of the most important financial questions of our time are: Can I afford to purchase a home, and do I have enough money to retire?

Rona Birenbaum and Seyon Vasantharajan are offering answers to those questions through their new robo-planning company, Viviplan. For $450, you can find an internet financial report which address two important financial decisions of your choice. For $500, you get an extra 30-minute walk-through with a licensed financial planner. For $800, you receive a complete budget covering budgeting, estate planning, asset allocation and insurance. read more