As a consumer, we are bombarded with advertisements for various products and it requires due diligence on our part to get the best value for the price we pay. Sometimes, despite our best efforts, we can be left with a lemon. Some people may be capable enough to make lemonade in such scenarios, while others…

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A pet peeve of mine is the fee that discount brokers charge for currency conversion, some as high as 2.5% each direction.  This fee creates an additional drag on investment returns, especially on larger trades. For example, say I wanted to purchase $10,000 worth of Walmart stock with Canadian dollars.  If I did a straight purchase with…

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A few readers have emailed me regarding the basics of buying and selling of individual stocks along with the accompanied terminology. Even though I’m not a stock trading pro, I have a good few years experience in buying/selling individual stocks so I feel comfortable explaining the basics. Here are the steps involved with buying and…

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In 2011, the number of seniors (people aged 65 and over) totaled 14.8% of the Canadian population. With the first baby boomers reaching the conventional retirement age of 65 in 2011, the retired pool of the population is expected to increase in the coming years. As more people retire, there is a good chance that…

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If you’re a landlord, it’s important to understand how to file your rental income come tax time. Whether you’re renting out a basement apartment or an investment property, you’ll need to report your rental income. This is done by completing Form T776, Statement of Real Estate Rentals. If you’re filing your own income tax, you’ll…

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Million Dollar Journey has featured a series on scams of the modern world but credit card fraud is a topic that deserves its own column. Year-over-year statistics for 2009 and 2010 (could not find more recent data) indicate that dollars lost through credit cards (Visa, MasterCard, and Amex) stolen, counterfeited, fraudulent online and phone usage,…

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