Take advantage of volatile markets by investing money at regular intervals. For this strategy to work in your favor, don’t vary the amount or the regularity of your investing. This is one of the most powerful ways of building wealth over the long run, especially in poor markets.

You should claim the total medical expenses you and your spouse have on one tax return. Use the tax return of the spouse with the lesser income (unless that spouse has no income at all). The government will allow only medical expenses that exceed 3% of your net income. The higher your income the less [...]

Very few people win the jackpot in Vegas; far more lose their shirt. Building wealth in the stock market takes time, disciple, and patience. Follow a solid investment game plan, and don’t be tempted by greed or false promises.

Who won last year’s Indy 500? Who cares? Investments rarely finish first two years in a row. Finishing first this year often leads to under-performing next year. Successful investors look for investments that are perennially near the top and avoid ones that actually finish number one.

REITs are a great way to reduce risk and increase income even in today’s market. Typically, REITs don’t correlate to the stock market and do well in periods of high inflation. They provide added diversification, and income flows to your RRSP and non-RRSP accounts.

Invest at least a portion of your nest egg in income-producing real estate. Don’t let the recent market decline scare you away from real-estate investing. A portfolio cannot be properly diversified unless it includes income-producing real estate. This doesn’t mean you have to become a landlord to invest properly. There are several ways to include [...]

Too often, people hang on to investments too long, hoping to avoid capital gains tax. They end up avoiding taxes all right, because they watch the gain dwindle away when they should have sold. If you’re paying taxes, you’re making money.

So you like GICs because they’re safe. Right? Well they actually carry two very big risks: inflation risk and liquidity risk. Most GICs are locked-in. That means you can’t cash them before maturity, even if you pay a penalty. The bank won’t cash them early, unless you die, which is a lousy way to break [...]

Some segregated funds provide a guarantee to give you back only 75% of your money in 10 years. What is the value of a guarantee like that? Not much. What’s the cost? High. If you want a segregated fund guarantee, buy one with a 100% guarantee. It’s the only one that makes sense.