It’s a frustrating reality: you can earn a fantastic income and still feel like you’re living paycheque to paycheque. The truth is, you can’t out-earn bad spending habits. If you constantly say "yes” to the five things below, you’re likely on the fast track to financial insecurity–no matter how much money you pull in.

1. Saying "Yes” to Being the Family Bank Helping out relatives when they’re struggling feels noble, but it can quickly sabotage your own financial plans. Lending to loved ones is often like tossing cash into...

Many people have no idea. Some people have a vague idea. A few people, a very few, have it all worked out. When it comes to retirement planning, many people do not take action until forced to by a mid-life event (career change, death of loved one) or by hearing about seniors running out of money.

It is strange that people find it so difficult to plan for their retirement. As all the basic financial books say, you start by recording your expenses, see where you can cut back, and then determine how much you need to save to achieve your retirement income goals. Yet, far too few Canadians take these presumably simple steps for their own financial success.

It is a weakness of human nature to put off ...

Over the past year, economic stresses worldwide have resulted in many employees receiving severance packages and being advised that their services are no longer required. The longer you’ve been employed with an organization, the higher your severance package will be. With the national job market experiencing varying levels of stress, it is more important than ever to hang on to as much money from an employment severance settlement as possible.

If you don’t plan ahead, the tax authorities have no problem relieving you of your extra money. A professional tax and investment advisor will run through the options with you and help you choose a strategy...