It’s a new year! Time to learn something new. Today we are going to tackle one of the most basic (and most frequently asked) questions we get: “How do I read my statement?” First, let me differentiate between the two types of mail you would typically get from an investment company, as they are often confused with one another. Statements are for a period of time … [Read more...] about How to read the statement, it’s all in the numbers
Arnold Machel, CFP®
Arnold Machel lives, works and worships in the White Rock/South Surrey area and has been writing articles for the Light Magazine for over 10 years. He is a Certified Financial Planner® with Visionvest Financial Planning & Services.
Risky Business, the hidden costs of bank deposits
Recently a reader asked me to discuss term bank deposit options, guaranteed investment certificates (GICs), and alternatives considering the crazy low interest rates being offered right now. And that got me thinking about risk. I just looked up the rates available at a major big bank right now – a 5-year non-cashable GIC pays 1.40% per year1 You could go to a smaller … [Read more...] about Risky Business, the hidden costs of bank deposits
What is a fair price for financial advice?
I’ve written in the past about the value of advice and how good advice pays for itself. The important question is not should I get advice? But rather, what is a reasonable price to pay for advice? To answer that, I think we need to look at two separate pieces: 1. What is reasonable to pay for investment management, and 2. What is a fair price for general … [Read more...] about What is a fair price for financial advice?
OAS changes bring a bit of extra cash
Are you 75 or older? Do you know someone who is? Get ready for a little bonus! You (or they) are in for a bit of extra cash in the coming year due to some tweaks happening to the Old Age Security (OAS) system. A bit of background. The self-proclaimed purpose of the OAS program is “to ensure a minimum income for seniors and help reduce the incidence of low income … [Read more...] about OAS changes bring a bit of extra cash
“Where There’s a Will…” there should be a will companion
Sadly, we’ve seen more clients and members of their family pass away in the past 18 months than any other time in my 25 plus years in the finance industry. And while none of these tragic events were directly related to COVID, I am sure that the isolation and general negative aspects of living life during the pandemic had a part to play. In seeing so many individuals cope with … [Read more...] about “Where There’s a Will…” there should be a will companion