Quotes of the Day

Check out "Tax Planning For You and Your Family" prepared by KPMG and published by Thomson Carswell for easy-to-understand, digestible explanations and advice. Another accounting firm, Raymond Chabot Grant Thornton, also has a helpful "Tax Planning Guide", which you can download at https://www.rcgt.com/en/. StudioTax, available at www.studiotax.com for free, regardless of your income level, is a great, easy-to-use program. TurboTax and H&R Block Tax Software are also programs that we've reviewed and rated as very good. The CRA's website (www.cra-arc.gc.ca) is among the better tax websites, believe it or not. [2019] - Eric Tyson

Canadian firms like You &Yours Financial are specialists in Canadian financial planning needs. They offer financial tutoring sessions, helping clients understand how much they’re currently paying in fees, assisting them with a wealth management plan and suitable asset allocation strategies. Plenty of people seeking a DIY approach might balk at paying a one-time fee for such a service. But most people’s financial needs are more comprehensive than they think. In a conversation I had with founder Darryl Brown, he told me, “The pay-for-service element of financial planning is especially popular among higher income earners who seek a big financial picture and don’t want to make mistakes.” [2022] - Andrew Hallam

Beacon Score: Credit scores range from 400 to 850; The average consumer has a score of 700; First-rate bankers want a score of at least 640; Second-level bankers want a minimum score of 600 or higher. The number of inquiries on your file can negatively impact your score. Unsophisticated investors who shop loans to many institutions, or apply for a bunch of credit cards as a way to invest in real estate, will have lower scores. [2009] - Don R. Campbell

Osteoporotic fractures can occur in various parts of the body, but the most commonly affected sites are the hips, spine and wrists. Low levels of protein appear to increase the risk of hip fracture. Statistics show that one month after suffering a fracture of the hip, 1 in 14 people will have died - and around half will remain in long-term care. Spinal or vertebral fractures usually occur in the thoracic (middle) or lumbar (lower) areas of the spine. Back pain is the most common symptom. Spinal fractures take from 6 to 12 weeks to heal but can persist for a longer period. For the majority of people, spinal fractures do not interfere with the spinal cord or result in paralysis. When spinal bones heal, they don't return to their original shape but are often flattened or wedge-shaped. [2019] - Diana Moran

Turnkey investing is a loosely defined investment strategy in which the investor buys, rehabs, and has a property managed through a third party, usually from a long distance away. All you need to do is "turn the key". There are hundreds of turnkey providers in America (and across the world), and no two companies are exactly alike. Some will buy, rehab, rent and then sell a property to you. Others will simply help you find the property and let you do most of the heavy lifting on the rehab side, then manage the property for you. Many people who live on the East or West Coast of the United States, as well as many who live outside the country, rely on turnkey companies (usually in the Midwest, where cash flow tends to be higher) to invest in great markets. [2015] - Brandon Turner