New Canadian money: beautiful, colorful and scarce until now. The Bank of Canada is in full phase launch mode. The latest series of new 5s and 10s join the line-up of the newest printed Canadian 20s, 50s and those wonderful “C” notes.
The new Canadian money is different, unique and distinct as its land, languages and people. “The smell of money” a common old saying brings new meaning to Canada and Canadians. OOOAAAW – the scent of money. Many Canadians and a few brave members of the media have reported the smell of maple syrup that wafts off the newest Canadian bills.
In order to best enjoy Canadian money one must know the rich history of its past. The English and French fought over our fledgling nation throughout the 100 year war. Two of the most powerful Imperial nations at the time mixed it up to own, control and rule these lands and peoples for many reasons. The “A History of the Canadian Dollar” by James Powell is the definitive history and a must read for any money aficionado, novice or patriotic Canadian. http://www.bankofcanada.ca/publications-research/books-and-monographs/history-canadian-dollar
From playing cards to coins and notes, Canada has a beautiful currency history and the story is fascinating and the odyssey continues today. The nostalgic penny will no more see the light of day whilst the demand of copper has increased the value of the remaining pennies – a hidden advantage to be recycled and live on. In the “Canada Economic Action Plan 2012”, the Federal Government announced it would phase out the penny from Canada’s coinage system. To help consumers, businesses, charities and financial institutions to plan for the change, a transition date of February 4, 2013 was set as the official date that the Royal Canadian Mint would no longer distribute pennies. Rounding up and down will take some time to get used to for retailers, consumers and Canadian businesses. http://www.budget.gc.ca/2012/themes/theme2-eng.html
Money in Canada is not without its own inherent problems; counterfeit currency has plagued the nation several times 5s, 10s and 20 dollar bills have all surfaced at different times. I have had the pleasure of personally receiving two fake 20s from a bank machine just in the last two years. Unknowingly, Canadians have used and passed on hundreds of thousands of dollars. The new Canadian money is many times more safe and secure than most currencies to date. See the latest safety features, information and equipment available to take in, authenticate and transact the new Canadian money. http://www.bankofcanada.ca/banknotes/bank-note-series/polymer/
The Canadian Dollar, commonly known as the Loonie, embarked on its metamorphosis in 1982 changing from paper money to minted coins. We have often learned in a painstaking manner from the last generation the true value of a dollar. It has been told to us, shown to us and demonstrated. It’s all this pent up energy we had in our childhood that enables us to cut loose if and when we can ever get money or it’s more dangerous relative, ‘credit’. This fact of knowing the value of a dollar has little or no effect on the currency and worth as it fluctuates on a daily basis and is based on complex systems, other than the value of other currencies together with fiscal and monetary policies as set by the Government of Canada and the Bank of Canada. The price of bread, milk, eggs, cars and homes have increased considerably, but accordingly, and in line with inflation.
The American Dollar: you cannot mention Canadian money without considering American dollars – our closest geographical neighbor and largest trading partner.
The Canadian Dollar holds its own compared with the United States but has had its ups and downs; in the early 70’s the Canadian dollar was worth more than the greenback. In the 80’s Canada had a policy of making it easier to trade with the U.S. by having a lower dollar that encouraged Americans to buy Canadian and do more business here. In recent times, as America tries to re-invent itself and regain the helm of as a leading economic nation, Canada will get a tremendous boost as America rebuilds and restores its once unchallenged place in world rankings. For now, our currency exchange is almost on par and our financial institutions are in good shape because of good and strong government policies.
“Old money is better than new” a statement that refers to extreme family wealth or inherited money. Newsflash! There are now more self-made Canadian millionaires today than ever before
yet the gap of the 99% and 1% grows exponentially.
New Canadian Money is here and we should enjoy it and embrace it, covet it, have it, hold it and learn to share it with those that have nothing, less or not enough. The color of money will not change and the meaning of money will not change; but change we must! With time, technology and circumstance, our young and growing world-class nation must change to grow.
Niall Ferguson (born April 18, 1964, in Glasgow, Scotland) is a British historian who specialises in financial and economic history as well as the history of empire. He is the Laurence A. Tisch Professor of History at Harvard University and the William Ziegler Professor of Business Administration at Harvard Business School. He was educated at the private Glasgow Academy in Scotland, and at Magdalen College, Oxford where he was a Demy and graduated with first class honours in 1985, where he did completed both his undergraduate degree and PhD. After two years as a Hanseatic Scholar in Hamburg and Berlin, he took up a Research Fellowship at Christ’s College, Cambridge, in 1989, subsequently moving to a Lectureship at Peterhouse. He returned to Oxford in 1992 to become Fellow and Tutor in Modern History at Jesus College, a post he held until 2000, when he was appointed Professor of Political and Financial History at Oxford. Mr. Ferguson taught at Jesus College Oxford for nearly a decade before he decided to cross the pond because the U.S. higher education system was doing things at his speed; a quicker more efficient way of doing things impressed him a lot. Niall was soon a professor at New York University in 2001-2002 and then 2 years later he accepted positions with Harvard University and Harvard Business School in 2004 he remarks Harvard took it’s time, but it’s one institution that attains the highest standards in higher education regularly and worth waiting for them do their homework. Dr. Ferguson is also a Senior Fellow of the Hoover Institution, Stanford University. Niall Ferguson is a regular contributing editor of the Financial Times and his latest book “The Ascent of Money” is on the New York Times Best Seller List.
He is now best known for telling the story of money and the history of money in all its lustre, lore and affect on humans since the beginning of commerce and trade. Outside of the academic world Ferguson is known for his revisionist type views that try to rehabilitate imperialism and colonialism. Within academia circles he is the champion of counterfactual history and is often times the subject of some considerable controversy.
I had the chance to sit down with Niall Ferguson for sometime and I let him know that I am personally a great fan of his work but at the same time I pointed out the fact that he has some critics out there that doubt some or a lot of your work as not more than sensationalism.
Ferguson goes on to respond ‘ I am only interested in one thing and that is historical truth only to understand the world better. Nobody gains if historians take liberties with the past so I use my best efforts to research widely as I possible can to make sure that I’ve read as much of the existing specialist literature as I can to try to use the archives but research in my own right. I am trying to draw conclusions that are as accurate as I am able to make them. Explaining the complexities of the past financial history is not easy because this is a technical subject and there is an enormous complexity to the international financial system. So for television particularly we try to make it simpler. I think simplification is essential for teaching, as long as you don’t simplify to the point of distortion and misrepresentation, then it seems to me that it is indeed perfectly legitimate and most desirable.
The Intellectual Process; Ferguson goes on to sum up how it all works: I think every serious historian wants to stimulate debate on a subject because the historical process is not like science, we don’t just sit around in laboratories re-running human history. We offer our interpretations on the basis of the facts that we’ve been able to establish and then we discuss them and debate them intelligently.
Ferguson on the critics, fools and the nay Sayers: Throughout the time I have been publishing I have encountered critics of my work and feel it is an integral part of the historical scholarship that one’s work should be subject to criticism. I think it’s often through criticism that we progress closer to a better understanding of the past. There is no doubt in my mind the next book I write will find it’s own set of critics. I look forward to any errors or mistakes in accuracy to clarify for future editions or paperback to be better. The other form of criticism is to say there is nothing wrong with the evidence presented here but you or others interpret it differently than me. So I have my critics, and I don’t doubt that each new book I publish will find it’s own set of new critics. I don’t mind that as long as the criticism is fair. The kind of criticism you can point out like a mistake or an inaccuracy and if somebody does that, I hasten to correct the error so that the information in the paperback version or in future editions is better. The other form of criticism is to say, “Well there’s nothing wrong with the evidence presented here but I interpret it differently from Ferguson on the difference of opinions.” Well that’s fine but if somebody chooses to offer a different interpretation from me, there’s no particular reason why I should accept it. It would simply be a difference of emphasis. So those are the ways that historical criticism works and I think I’ve had my share of fair, and unfair, criticism over the years. It comes with the territory. If you said something that everybody agreed with, it probably wouldn’t be worth saying. You’d simply be restating the conventional wisdom. My aim is always to challenge that received view of thinking.
Ferguson the passionate historian and author not a businessman: If one was interested in making money, one would have become an investment banker in 1985 when I graduated from Oxford and I never considered that for a moment. I dedicated my working life to understanding the way the world works, the modern world since around 1700. And the research I’ve done is a quest on my part to understand that better and then to explain it. And so if I run out of questions that I want to ask about the past then I’ll retire from history. But there are always new questions and so there are always new projects. Right now I’m just putting the very last touches to a biography of an eminent banker in many ways the most important figure in London after the Second World War—Siegmund Warburg.
I asked Mr. Ferguson if he knew much about the war of 1812, The Plains of Abraham and Canada in general.
Ferguson: Well of course! A historian of the British Empire would surely know and understand a lot of about what pivotal things happened in upper and lower Canada to shape the entire world.
I asked Ferguson what he thinks of Canada as a nation and are we on the global radar?
Certainly, I mean the work I did on the British Empire that produced the book, Empire, was in part homage to Canada. I have longstanding family ties to Toronto and, indeed, to Saskatchewan. I have traveled widely in Canada and for me the history of North America is just not the history of the United States, as it often seems to be.
For me the history of North America is the history of two, if not three, major experiments: the experiments, of course of the republican form of government, after 1776 and 13—and subsequently more—colonies. But the other experiment was the experiment with constitutional monarchy within the British Empire that endured right the way through into the 20th century. And still retains I think a real importance in Canadian life and then within Canada, of course, you have at least two different cultures co-existing.
Ferguson goes on about Canada and it’s Language Culture: Anglophone and the Francophone. It seems to be very, very interesting subjects for a historian of the modern period. I constantly try to remind my US-born students that if you compare the performance of Canada and the United States in economic terms, or in social terms, that it doesn’t seem as if the, the choice of new political institutions in 1776 in those 13 colonies had a huge amount of difference. It’s not like Canada’s a desperately impoverished backwater. On the contrary, by some measures today, Canada is quite a way ahead of the United States. So this is a tremendously interesting field for historical study. Comparative history of North America is something we need more of. Frankly too few North American historians do that. There are historians of Canada, and there are historians of the United States. They tend to talk past one another and this seems to me to miss the whole point. The really interesting thing is that, despite a massive divergence in political institutions, these two societies have evolved in many similar ways. They’ve certainly remained materially, economically, on a par. But they’ve also developed some really profound institutional differences. And we see that very clearly in the current crisis, whether you look at banking regulation or healthcare. Canada looks to be in a stronger position than the United States.
It’s a global economy now and not just domestic. The G8 will meet in Huntsville, Ontario next year; where does Canada rank and how do you think we will fair amongst other world economies?
Ferguson: Well I think Canada is in the strongest position it’s been in, perhaps, internationally and in all of its history because I think Canadians can legitimately say that they’ve conducted financial regulation in a better way than the U.S. Given Canada’s wealth in terms of resources, it doesn’t have the kind of fiscal problems that are going to attack nearly all the other members of the G8. Canada’s is the only public debt that isn’t soaring up towards 100% of GDP in the next ten years. So it’s a time when Canadians can perhaps legitimately put aside their historic inferiority complex and walk tall, because Canada’s institutions look like they’ve done quite well in the last ten years, better certainly than those of the United States. The problem of course is that the world is changing so rapidly that the G8 signifies less as an institution than the G20. And it’s striking that all the discussion in the American press is of the G20 in Pittsburgh rather than the G8.
Throughout history, time and the geography of the world we have been plagued by many wars. What is your opinion on war and in particular Afghanistan and Iraq?
Well I’ve written about American Empire and explored the question of the legitimacy of military action in a book called Colossus, which was published in 2004. I made it fairly clear that I don’t regard war as always an illegitimate evil. I’m not a pacifist in that sense. Sometimes war is necessary—necessary of course in the case of an act of aggression which must be resisted, but it can also be necessary where preemption or prevention is preferable to waiting to be attacked. The United States certainly had no alternative but to take military action in Afghanistan after 9/11. Where it had a choice, by contrast, in the case of Iraq. I think, with the benefit of hindsight, it might have made more sense to focus on Afghanistan and not to invade Iraq. The benefits of that invasion of Iraq seem at this point to be exceeded by the costs not only in terms of money but also in terms of human life.
On the other hand, it’s quite hard to see a very good future for Iraq or, indeed, that region if, if the status quo with Saddam in power had simply been left in place. So there wasn’t an easy, happy alternative. It was a choice between two evils. But I must say that I think at this point, knowing what we know, this is not, on balance, a good decision, not least because overthrowing Saddam Hussein greatly strengthened the relative power of Iran. And I think the Bush administration underestimated that consequence of their action. Afghanistan is the simpler case as I think I’ve already said. It would be of course completely insane to abandon the effort that’s currently being made in Afghanistan to create a stable government there. To allow the Taliban to come back into power in Afghanistan would be a complete disaster and anybody who thinks that that’s an option must be suffering from some kind of amnesia.
You often speak of “Chimerica” referring to America’s relationship with China please explain:
Well China’s doing better than almost any economy in the world in terms of output. Its economy is one of the few that’s growing strongly this year. China’s growth of course is still way down compared with the pre-crisis period. It’s almost been cut in half, so one shouldn’t exaggerate the achievement. This still a very dramatic slowdown in relative terms and China faces at least three major problems. Right here and now the first problem is that by powering an economic recovery with a very large-scale state infrastructure program and very loose credit conditions, the Chinese have created something of a bubble in their own stock market which is now deflating rapidly. The second problem is that they’ve, by pursuing a strategy of export-led growth, accumulated 2 trillion dollars’ worth of international reserves, a very large proportion of them denominated in US dollars, which doesn’t look like the greatest investment in history. And the third problem that they have is that their rapid growth over the past 20 years has created a certain mismatch between their political system (still a one-party state) and their social system, which is changing very rapidly with the emergence of the middle class and indeed a super-rich elite. Historically that’s a pretty difficult combination: political stagnation and rapid social change. So I think China’s economic miracle is something that conceals at least three serious structural problems. Over the long run, they need to develop their own consumer society. They need to become less reliant on exports. They need to make their own income distribution more equal. But these things can’t be done overnight. In the long run they also have major demographic problems because of the one-child policy. And so over a 20-year timeframe, China’s prospects aren’t actually quite so rosy.
Using some of his own verbiage I asked Ferguson to tell me about “Chindia”:
He laughs on goes on to say: Well in some ways India resembles the tortoise in the story of “The Tortoise and the Hare” because China would represent the hare that zooms ahead in the early part of the race, but the tortoise, which moves more slowly, ultimately wins that race. And I think because India has a democracy, and it has the rule of law, and in many ways it relies less on government and more on the market. Its long-run prospects look more appealing. If India could address its infrastructural problem the way the Chinese have addressed theirs, they would be I think, a huge payoff. But it’s hard to build a whole new system of highways, or high-speed rail links, if you have meaningful property rights. In China, you just tell the peasants, “Piss off, we’re building a new, new highway here.” You can’t really do that in India because the peasants say, “No, you piss off because this is our land.” So there’s a big difference there. I have a relatively optimistic long-run view of India’s trajectory. I think over a 50-year time horizon, things are looking good. Short-run, it’s not going to grow, as fast as China and from that point of view, we shouldn’t expect the kind of returns of investment that may be possible in China now.
In 2008, Allen Lane published his most recent book, The Ascent of Money: A Financial History of the World that he also presented as a PBS Special in the United States and on Channel 4 in Great Britain. Google has also chose to broadcast the video throughout the Internet making the author and the well-authored book ‘The Ascent of Money’ all that much more popular.
Niall believes that television and Internet will have a more vast reach, but books are important; after all it’s just one way I can make a living by selling some books but getting the reach is as important; after all I am still just a Scottish professor who is only asking questions and learning more to teach better and sharing the wealth of that knowledge is what I do best.
“When I stop asking questions to satisfy even my self than that will be the day I stop learning and also seize being an historian and human, I suppose”.
The Ascent of Money is a new comprehensive four-part series presents like thee epic film about money and the history of the global economic system. Niall Ferguson says, “I want to reveal financial history as the essential back-story behind all history. From ancient Mesopotamia, right down to the present the day, the ascent of money has been an indispensable part of the ascent of man.”
Leader in Ontario with 70,000+ registrations in continuing education
TORONTO, Sept. 18, 2013 /CNW/ – Seneca has reached its highest continuing education enrolment in its 46-year history with more than 70,000 part-time student registrations.
Seneca has long been the leader in providing flexible, high-quality programs for those who want to further their education and upgrade their skills, attracting significantly more part-time students than any other Ontario college.
“We are delighted that the demand for our continuing education programs continues to grow,” said David Agnew, Seneca President. “This is part of a broader trend of students seeking more flexible options for their education, and Seneca is responding with evening, weekend and online courses that are meeting labour market demands.”
Most part-time students at Seneca are working towards a professional designation or career-based credential, whether a degree, diploma or certificate. Part-time enrolment has grown by more than 10 per cent over the past five years and continues to grow this fall.
Seneca’s fall full-time enrolment has also increased by nearly five per cent over last year.
With campuses across the Greater Toronto Area, Seneca offers degrees, diplomas and certificates renowned for their quality and respected by employers. Combining the highest academic standards with practical, hands-on learning, expert teaching faculty and the latest technology ensures Seneca graduates are career-ready.
A potential client recently said he had no money in the budget for any sort of advertising but asked how the markets were. I wasted no time and quipped it depends how your marketing is. Everyone somewhere is doing great, really well, better than expected or tell you the truth business sucks.
At this point you cannot tell any potential, advertiser exactly what you think. That is not the matter; in fact it doesn’t matter at all what you tell this person they have already made up their mind. Spending less time and effort on people that waste your time is only a learning experience to get to yes. Everyone has to make money at some point and there ain’t no shame in that.
People have all different kinds of ideas and concepts about money and very few people have it or enough of it. I will endeavor to make money in some way or fashion that does not cause me to work hard. And so anytime is a good time to make money and to make money hand over fist is an art unto itself and money its own reward.
There is a difference between the have’s the have nots and the haves too much and you may lavish, squirm or just pass by. Awkward at best no one wants to talk about money, I suppose the one’s that have it have no reason to complain aloud. There are some that know, some that try and a few that know and try and fail and the one’s that ultimately triumph through trial and error and trials and tribulations.
You know something more than the others; more precisely more than most, you know more than a little, you know a lot. I am willing to work for money as long as I don’t feel I hate it and want to give up writing, sharing and communicating at such a slow speed. I do spend charitable time working and need to make real money not unlike thousands of other hard working Canadians. Part time money, ain’t no shame in that. So I am going to blog, talk and communicate some ideas and thoughts that people would really want to know about; the inner working of money in play and work. So this new post, section, category called “Weekend Money” is dedicated to any one who works one or two jobs or even three to make up for your local economy than this is dedicated to you. “You and Your Money” could not be a better salute to hard workers everywhere.
I will work part time on week-ends here and there and I will think of you and your industrious nature to make money, enough money and then more than enough money to share perhaps. Let’s see maybe I will get back to you next week or maybe pay someone to do it. I may even quit by next week . My point was that the Bank of Montreal recently renovated a location near me in grand fashion and announced in a giant blue and white banner “OPEN SUNDAYS”.
Everyone is working harder for the same money or less as cost rise…yes its sounds terrible. I should hope to get paid for news, reviews and interviews that matter most to you and your money. Please allow me enjoy what I do for a living and at the same time put in a little extra time, over time or a few bucks on the side rather than call it work. I will see you here at the same time and the same place for the next “pay for” newsworthy article for MONEY unless I am fired for moonlighting or laughing all the way to the bank after church.
I have to mention my day job; as the guilt is settling in. I am responsible for online editing for MONEY.CA and publication articles for Money Magazine. I am not sure if I should be using this powerful system on week-ends and especially Sunday’s. It may not be official as nothing of the sort has been done before, so please don’t get us in trouble and try not to let anyone know about what we are doing its weird but I just don’t want people to know I work part-time.
MONEY CA – money.ca a Canadian website often confused because of the .ca many North Americans confuse the CA for California State in the United States of America. In fact the .ca is the Canadian international brand for websites recognized worldwide and CIRA the Canadian Internet Registry Association registers and administers Canadian sites in Canada.
This letter, communication and challenge are put out there to not only recognize MONEY-CA as Canadian but to let popular search engines like yahoo google and bing accept us as a distinct nation and county that has its own currency. Often times Canada a lower populated country beside the Americans is geographically larger than the U.S.
The American economy is considered to be much larger because of it’s population and a large tax paying base of citizens. Canada small, quiet and cool a nice place to visit one of the greatest places on the earth to live. Canadians do have a highly skilled work force are often influenced by America and Americans. Canada is in fact a world player and a G8 nation with an abundant amount of natural resources that many other countries envy.
MONEY.CA is the online destination place for money, finance and financial literacy for many Canadians, Americans and International followers. Without goal tending and red tape MONEY.CA should and ought to be placed and ranked highly on any world-wide search engine or listing. Yaho0 google bing and youtube along with a few other social media companies like Facebook, Twitter and LinkedIn are considered to be the Internet where you are supposed to find good, important and relative information based on your search request.
MONEY.CA and money-ca.com are one in the same and the message is clear here we are and welcome to MONEY.CA Truly we accept all denominations of money and people. The way we go about our business to get your attention when Search Engines fail to do their job and rank top sites with good content high. When goal tending and pay for service enters the picture then greed and not service are the winners. Find us any way you can and when you do make a marker, create a favorite and tell others in person or online that MONEY.CA is here and where not moving off the Internet or out of Canada. And so the next time you see any of our sites that crawlers miss we can be found in the places that you would in fact most likely look. MONEY.CA is the main benefactor of important prominent keyword sites like MONEY-CA.comCA-MONEY.COMCanadian-Money.com and Money-Canada.com stand on guard for thee both locally across Canada and throughout the world we should be found at our usual address and placed prominently and according.
MONEY.CA number one on yahoo google bing and youtube including others is the only goal for MONEY to be found and not lost for any reason. Follow our trend to the top for getting better quality content and information to you, your money and your local search engine crawler.
On Wednesday September 11th at 7:30 pm Charles S. Bell invites you to the one of a kind “Mortgage Seminar” that reveals the truth and thousands and hundreds of thousands of dollars of savings with simple, legal financial equalization action techniques. “The Mortgage Killer” financing that brings harmony to your life, assets and property.
Toronto Airport Marriott Hotel by popular demand – Charles Bell will be speaking about the truths and misconceptions of mortgages in Canada. Refreshments served RSVP firstname.lastname@example.org.
Anyone who has a Canadian mortgage owes it to themselves or their family to see if they qualify. Mortgages Canada not all mortgages and debt financing is the same in Canada. Do yourself a favor and learn more about what a difference a day makes. A top notch Canadian Real Estate Seminar highly recommended for the biggest element in property ownership “financing”.
Richard Kiernicki of MONEY sets the record straight about a revolutionary idea that can save thousands and the man who has the plan to do it.
On occasion when opportunity collides directly with preparedness, that moment, has often been defined as “luck”. I am lucky. Being open-minded and being an effective listener have, on quite a few occasions, provided an opportunity for luck to materialize in my life. I accepted an invitation from an acquaintance of mine to attend a small informal meeting a few weeks back to hear about an “opportunity”. There I was introduced to Mr. Charles S. Bell, President of Financial Equalization Action Techniques and Mortgage Killer Ltd. from Toronto, who made a presentation on a subject that, quite frankly I wish I had known about during the quarter century I offered financial planning services to my clients, called the Financial Equalization plan. Now I consider myself even luckier. Charles’ presentation was like a throwback to an era that existed before the creation of hi-tech presentations containing Powerpoint images and graphics that command such presence where the actual presenter can almost get lost somewhere in the hype. Charles was live, a mix of personal stories that led to the research and creation of the plan he masterminded along with a few unrelated vaudevillian style “stories” and jokes. He was genuine. You just got the feeling that this guy was honest, his word on a handshake, a trusted representative of an era slowly fading into history. When you are told that the power behind the creation of the plan was the direct result of great personal and family adversity you just know that Charles speaks directly from his heart. He will prove it! Affectionately known as “The Mortgage Killer” Charles obtained a copyright for the Financial Equalization Plan in 1987 from the government proving that it is the most unique and powerful plan in the mortgage and debt reduction industry. Since then, over 35,000 Canadians have used his process to save millions of dollars in mortgage and debt interest charges they were legally obligated to pay their lenders. This plan CANNOT be purchased. You can only apply to see if you will qualify. There are no fees or out of pocket costs for you to apply. If you do not qualify, you cannot participate. It is as simple as that. Well, with promises like that, I left the seminar determined to expose a fake. After all, when it seems too good to be true, most often it is too good to be true, right? I had to find the flaws. Even though I detest doing due diligence, I had to know. In summary, it’s all good.
Don’t miss this unique opportunity to meet Charles S. Bell the one and original great performer who challenged the government, the status quo, the queen and her representatives. Learn more about the thousands of well-to do and wanting to do better Canadians who have already successfully employed these important, legal techniques to make, save and preserve more money more often on the way to being debt free and equity rich.
Money Canada Limited is proud to announce our online International partner for the Canadian online destination place of MONEY.CA MONEY-CANADA.COM a website, a strategic alliance to go and get and keep the attention toward MONEY and then Canadian Money and then to harbor Canadian’s and also attract and retain the attention of foreign investors and International money to our online investment marketplace and real investment advisors, facilities, services and opportunities.
MONEY-CANADA.COM sole intention is to be remembered and not forgotten when it comes to MONEY or Canada our purposes can be served in this stand on guard manner. The world of money is a big place and who if not us can get, interpret and present it best for the best of known needs and privilege of Canadians and equally to under-served communities. MONEY-CANADA.COM has a need to protect our distinct nation, independent currency and colorful money and robust economy.
MONEY.CA keeps the interest and concern going for both Canadian Financial Literacy and less greedy pursuits of helping individuals make, save and preserve more of their money.
Join us! donate, volunteer, contribute or advertise and promote all for the right reasons. Please note MONEY-CANADA.COM and CANADIAN-MONEY.COM stand on guard for thee and represent Internationally 24-7. MONEY.CA is held in high regard with the unique ability to communicate money, personal finance and financial literacy at its highest capacity with your social media, movement and currency. email@example.com 1-800-789-1011 – We have the financial content, can do the financial advertising and can achieve measurable results beyond your expectations. Call 416-360-0000
MONEY a big important and meaningful subject, a lot to cover for anyone in any way shape or form. Where do you start with with a purposefully designed website like MONEY.CA. The money namesake is a great start and “Canadian Money as a focus would be a great place to begin. Not to cover everything and be all to everyone the most common ideas and concepts are central. Personal Finance everyone has it in common, it may be the difference of planning to have money and having to live without it.
Many people may be blessed with wealth and inheritance but good judgment is not often passed down with money. So if you just inherited the farm, won the lottery or are like the most of us and have to use our good judgement and rely on hard work then this is the place for you.
Whether you are a new immigrant to Canada, a student or a seasoned advisor you can still tune in to learn more. MONEY.CA online is on a continuous odyssey of learning, sharing and growing. Canadian Financial Literacy is an important area that needs attention; many have tried and more have talked about and little impact is made and the gaps still grow wider and even more unattainable.
This is Money Canada Limited’s raison d’etre to grow as a smart profitable organization that helps more Canadian’s succeed in the local economy for a better and higher standard of living for more people sooner. To get involved and donate or contribute or collaborate learn more at firstname.lastname@example.org or go to money.ca and simply tell others about a grass roots movement set to catch a-fire.
In 2008 the Alberta/BC Joint Expert Panel completed its work on suggested pension reforms. Alberta passed Bill 10 implementing the majority of the suggestions and is expected to release the enabling regulations sometime this summer. There are a number of positive changes in the legislation, but the change that could transform the pension landscape across Canada is the introduction of the target benefit plan.
Pension plans have traditionally been defined benefit plans, which deliver known benefits to plan members, with contributions varying depending on plan experience. The longevity risk, interest rate risk, and investment risk are all borne by the plan sponsors. During the 90s when plans experienced significant return on assets plan sponsors were happy to continue with this arrangement. When the investment returns diminished and low interest rates lead to significant increases in liabilities the risks being borne by sponsors became far more apparent.
Numerous court decisions have also eroded the ability of sponsors to benefit in cases where results exceeded expectations, yet leave them responsible for providing additional funding to plans in cases where results were worse than expected. Plan sponsors in the private sector are understandably unwilling to continue sponsoring this type of arrangement.
The main deterrent from a company perspective is not the increased costs, but the increased volatility of costs, which is attributable mostly to the interest rate risk.
This led to the growth of the defined contribution plan, in which a sponsor provides predictable contributions towards a pension plan, but the ultimate benefit will depend on plan experience. The risks in this case are borne by the plan member. This works well for the plan sponsors but the consequences of the inadequate pensions provided by these plans are only in the infancy of being realized. DC plans do a poor job of mitigating longevity risk and have historically produced lower returns than DB plans.
Like so many other issues, the pendulum has swung from one position, of all DB plans, to the other extreme, in which new plans are almost entirely DC plans. What is required is a middle ground that mitigates the risks to plan sponsors, while not shifting the burden entirely to the plan member who is ill equipped to cope. The target benefit plan is designed to precisely that.
The target benefit plan aims to provide a defined benefit, however it does not obligate sponsors as a DB plan does. Instead, if needed, benefits can be reduced based on the funds available to provide the benefits. This shifts some of the risk to the plan members. This is not ideal for the members, however it is better than the alternative in which sponsors are unwilling to sponsor a plan. The new legislation includes measures to improve benefit security, such as stochastic risk based reserve calculations, that provide a high probability that the benefits will be provided, rather than forcing the sponsors to guarantee the benefits.
The death of the traditional DB plan has been evident for many years, but there has been no reasonable alternative. Some steps have been made towards introducing target benefit plans, but the Alberta legislation is the first that can be applied to any sponsor and will allow for innovative ideas to help restore the health of the Canadian pension system.
One of the biggest purchases that people will make in their lives is the purchase of a home. From the time we are young we are taught to save money and purchase a home because it’s a good investment. As a financial planner I have to admit that this is not always true.
Buying a home creates an expensive debt. Hopefully it also creates a more valuable asset, but once again this is not always true. The decision to buy a home is a personal choice and the reasons to do so – or not do so – depend on your personal goals, your budget and your personal financial situation.
Some people think that paying rent is a waste of money but I tend to disagree. There are several benefits that come with renting an apartment versus buying a home:
The advantages of renting an apartment
Carefree living. When you rent an apartment you don’t have to worry about, well anything. One of the main advantages of renting an apartment is that you have no responsibility to maintain the premises. If your drain gets clogged all you have to do is call your superintendant and they will send a plumber. Renting an apartment is hassle free.
It’s easy to budget. Paying rent is just one bill a month that you have to budget into your expenses. I absolutely love this about renting –it’s simple and easy and that’s just the way I like to set a budget. Whether it’s for myself or for my clients, an easy budget is one with the fewest expenses. When you have too many expenses each month it’s easier to forget about the due dates and you can miss payments – this doesn’t happen when you rent an apartment.
No long term commitment. If you don’t like to plan for the future then renting an apartment is the best choice for you. I love that fact that I can pack up my things and move away any time I want. Committing to a five year mortgage term is not for me. I love the flexibility and freedom that comes with renting an apartment.
The disadvantages of owning a home
The cost of maintenance. Owning a home is a lot of work, both inside and outside the house. I don’t know about you but dusting, vacuuming, shovelling snow and cutting grass is just not my thing, in my opinion this is a major disadvantage of owning a home.
All of the other expenses. The down payment for your mortgage is only the first expense that comes with owning a home. Afterwards there are several additional ongoing costs involved in homeownership such as taxes, utilities and the cost of furnishing a home.
What do you love about renting or owning? Tell us on Twitter @ TahnyaKristina