Author: Seun Adeyemi

Thinking of Dipping into your RRSPs to Pay Off Debt? Think Again!

I recently sat down with a middle aged couple who were debating the best strategy to pay off their debts. This couple are high income earners and have diligently contributed into their RRSPs over the years, so they have a sizable amount. They, however, also have quite a bit of debt they have accumulated and were at a crossroads as to how to tackle it. One party insisted on tackling the debt using the snowball method (which I will explain briefly in a moment), but the other party was adamant on taking out a huge chunk from their RRSPs...

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The Dangers of Using Your Home as an ATM

Jake and Sarah, a professional working couple in their early 30 years, decide to purchase their first home. They take out a mortgage with a 25 year amortization, thinking that if all goes well, they’ll be mortgage-free by the time they’re in their mid-50s. Theoretically speaking, they should then have enough disposable income in their retirement years to really “enjoy” this latter part of their lives. Now here’s what really happens. Over the years Jake and Sarah have acquired a “comfortable” lifestyle, drive new cars (financed or leased), eat out quite often, still have student loans and have amassed...

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Market Commentary – Bye Bye Miss American Pie

Bye Bye Miss American Pie Or, has TINA left the building? “U.S. investors continue to follow the printing presses into European and Japanese equities. A record that has been held for nine years is almost sure to fall.” –David Santschi, CEO of TrimTabs Wall Street has always been great at expressing ideas in acronym format. Meet TINA, which applies a label to the one of the main factors propelling U.S. equities prices over the last year or so: There Is No Alternative. That is, Europe, Japan, and China, among others, have been a weak alternative to the U.S. The...

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Getting Married? 5 Financial Steps to Take Before Walking Down the Aisle

First of all, let me be among the first to congratulate you! Marriage is a beautiful thing and I hope you enjoy all the benefits it has to offer. My role as a financial advisor is to ensure the financial well-being of my clients. However, statistically speaking, “money problems” are among the top ten reasons for divorce. Therefore, you might also call me a kind of marriage counsellor. Who knew right?! Allow me to share some premarital counselling (financial) tips with you. Let’s be honest, people don’t get married with the intention of getting divorced. The decision to marry...

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The Power of Compound Interest

The Power of Compounding Returns, and the Importance of Starting NOW! “The most powerful force in the universe is compound interest.” – Albert Einstein” Well, of course it makes sense that we should start investing sooner so that we can retire more comfortably. However, most people fail to realize just how powerful compounding can be, and what a difference it can make in our long term financial health. So, what do I mean by compounding? In its simplest form, compounding is simply the phenomenon of earning interest on interest. If I have $1.00 in my savings account that is...

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