Quotes of the Day

The Golden Rule: Always Make Money on the Buy. Finding undervalued properties gives investors more tactical options to choose from to further their profits and achieve their goals. Motivated Vendors: If a vendor is getting transferred due to employment, they may be motivated to sell at a reduced rate. A vendor who is downsizing may take a reduced rate if he or she believes the buyer will take care of the property. Distress Sales: Couples who want to quickly divest themselves of shared property as a result of marital discord may sell for a lower-than-average price. Estate Sales: Sometimes family beneficiaries are inclined to make a quick sale, in lieu of holding out for fair market value, so they can realize their share of the cash faster. [2011] - Don R. Campbell

In Canada, the first $2,000 of eligible pension income comes into your hands tax-free, which can save you anywhere from about $400 to about $700 depending on where you live. Qualifying pension income does NOT include CPP, OAS, or GIS payments. Make sure you take advantage of the pension income tax credit to get that $2,000 in tax-free income once you're 65 by creating pension income. Buy an annuity that gives you $2,000 of interest income annually or use funds in your RRSP to buy an RRIF and make sure you pull at least $2,000 of annual pension income. When you buy a GIC (technically a GIO) through a life insurance company, the interest earned is considered eligible pension income. [2013] - Gail Vaz-Oxlade

Many retirees don't have work-related pensions and it makes sense that they should "pensionize" some of their savings by creating a guaranteed monthly income, i.e. annuities. Deal only with the top-rated companies--annuities are no good if the insurance company dies before you do! Also, even though I think annuities are underutilized, don't go overboard here. Annuities are appropriate for a percentage, not all, of retirement portfolios. [2011] - David Chilton

Keep your earned income secure by purchasing a security you hope converts your earned income into passive income or portfolio income. [2000] - Robert T. Kiyosaki

Success or failure on business has to do with work ethic, determination, and desire. First, you have to be able to sell. Second, you have to be able to attract, build, and motivate a great team. The third element is your ability to teach others in the business how to sell, how to be great team players, and how to succeed. It is this skill that ensures growth, profit, and longevity. [2005] - Robert T. Kiyosaki