Fiscal Agents - Money Management Newsletter - Dec 2012

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December 2012,
Issue 102
Merry Christmas and a Happy
New Year from Fiscal Agents!

The
staff of Fiscal Agents would like to extend to you best wishes for a happy and
successful 2013. All the best to you and your family.


Newly Single? Here are four tips to help you re-establish financial independence.

1. Get started. Understand your current position. You and your partner may have joint assets and liabilities. You’ll need to work out the division of the assets and find out what liabilities you’ll be responsible for.
2. Re-evaluate goals. If your partner was the one who was making most money-related decisions, it’s time to take the reins on money management and adjust your investments accordingly. An advisor can help you create a financial plan, which allows you to achieve your short-and long-term goals.
3. Focus on building wealth. Moving from a saving to an investing mindset is effective. Look for investments that offer a low minimum investment. Everyone has a different risk profile, though, so make sure you have the right mix. Set up a pre-authorized transfer that automatically transfers a set amount at regular intervals throughout the year into your RSP. These contributions also let you benefit from dollar-cost averaging.
4. Track progress. Create a budget and stick to it. Review your plan regularly to ensure it continues to evolve as your needs and lifestyle change.


How does CDIC calculate insurance for deposits purchased through brokers?

CDIC insures eligible deposits at each CDIC member institution up to a maximum of $100,000 (principal and interest combined) per depositor (or, in the case of joint deposits, per set of joint owners), for each of the following.
Use
the Read
More
link to view the complete bulletin.


Choosing the Best Fixed Rate Guaranteed Investment Certificate

A 5 year GIC (Guaranteed Investment Certificate) is the longest fixed rate account generally offered by most Banks, Trusts and Credit Unions and can offer a much more attractive interest rate to other accounts where your money is more readily accessible.
If you are happy to lock your savings away for 5 years and want a guaranteed return on your money then fixed term GICs could be the answer.
Use
the Read
More
link to view the complete article.


5 ways to Guarantee You Get the Best Rate on Your Savings

When it comes to choosing a home for your savings there are lots of things to consider. We will give you our top 6 tips for getting the best possible interest rate on your savings.


Choosing where to save your money can be a tough decision. With all the different options to consider, it may seem easier to simply open an account with whoever you usually bank with, rather than seeking out the best one on the market.


However, while such an approach may save you time, it’s unlikely to help your cash to work its hardest by offering you the right combination of access and interest-earning ability. We give you our top six tips for making sure you get the best possible deal on your savings account.
Use
the Read
More
link to view the complete article.


Tax free savings accounts upper limit increases to $5,500

In a recent study by ING Direct ,more than half of Canadians (52%) don’t have a tax-free savings account (TFSA). Further, 44% only have a vague idea about how a TFSA works, and 19% say they don’t understand it at all.
But a lack of knowledge isn’t the main reason why Canadians haven’t opened an account—it’s not having any money to contribute (53%). In fact, another 53% report live paycheck to paycheck. “Since its launch, TFSAs have been a great way to reach short-term and long-term savings goals and provide flexibility that other investment options, like RSPs don’t,” says Peter Aceto, president and CEO, ING DIRECT.
Use
the Read
More
link to view the complete article.


8 things you need to know about RRSPs

Despite the wild stock market swings of 2011 and early 2012, financial industry-sponsored surveys are suggesting that Canadians plan to stay the course and put at least as much into their RRSPs as they did a year ago by the Feb. 29 deadline. We'll see.
What is known is that, as usual, most people didn't make a contribution at all during the last RRSP season. The number of Canadians who contributed to an RRSP for the 2010 tax year actually fell slightly from the previous year to 5,956,010 — about a quarter of all eligible tax filers.
Use
the Read
More
link to view the complete article on CBC.ca.


In the Press:
5 year-end tax tips

Canadians only have about a month to take advantage of year-end tax savings. “There are a number of easy ways for Canadians to reduce taxes that they might otherwise owe, but in many cases you need to act before December 31,” says CIBC’s tax and estate planning expert, Jamie Golombek.
Here are five of the most overlooked strategies.
Use
the Read
More
link to view the complete article.


Are you a Canadian with U.S. banking needs?
TD Canada Trust links its US operation into a single service

If you are, then TD Cross-Border Banking can offer you an easy way to bank in the U.S. With TD Cross-Border Banking you can enjoy the convenience of over 1,300 TD Bank, America’s Most Convenient Bank® locations in the U.S., from Maine to Florida. You can:



Open a U.S. TD Bank account and easily transfer money between your Canadian based TD Canada Trust account and your TD Bank account in the U.S.

Apply to TD Bank for a U.S. mortgage and credit card based on your Canadian and U.S. assets, income and credit history.

View both your TD Canada Trust and TD Bank accounts online on the same web page.

Use
the Read
More
link to view more information about this service.


Mortgage Commentary - December, 2012
By John-Andrew Newman, Newman & Associates

There hasn't been too much exciting news since all the government rule changes took effect. I think it is safe to say that the world didn't end or the real estate market didn't crash and you know what else, the banks aren't complaining either. The banks have produced very strong revenue amid an expected cooling market. According to Stat's Can, residential mortgages are up .18% in August vs. the previous 10 months. Despite the Government's attempts to slow lending, consumers still found a way to borrow more. Even Kevin O'Leary has decided to open his own mortgage company, so you know things can't be that bad. Yes I said, Kevin O'Leary from Dragons Den and The Lang and O'Leary Exchange on CBC. He plans to open a single product lending company in late 2013 which will eventually use the broker channel to facilitate mortgage origination.
Use
the Read
More
link to view the complete bulletin.


Fiscal Agents Launches MoneyGuide iPhone Application - And its free!

The MoneyGuide app provides conservative investors with guaranteed investment (GICs) rates of return, mortgages, retirement and tax free saving accounts, along with product and company profile information. Now you can keep up-to-date anywhere you go – sort by term, deposit amount, issuer. On screen statistics, hundreds of data points and updated throughout the day.
Use
the Read
More
link to view the complete bulletin.


Today's
Market Rates
 
Taken from the FiscalAgents.com
Money Centre
, as of 18/12/12
Term
Deposits
1.55%
Annually,
270-364
Days, $5,000
GICs
2.55%
Annually,
5 Year, $5,000
Maximum
Rate
2.55%
Annually,
5 Year, $100,000
RRIFs

2.65%


Annually,
20 Years, $100,000
RRSPs
2.55%
Annual,
5 Year, $100,000
Savings
a/c
1.65%
Daily
Click the link below to view our best-offered rate table.
  The Best of
our Best

See what your
savings can earn!
Why settle for what your local bank branch is offering? (Click for a comparison)
At Fiscal Agents, we use our GIC buying power to gain higher deposit rates from financial institutions -
including some of Canada's major banks - and pass these top rates on to you!
Call Fiscal Agents,
Your no-fee deposit broker.
Local 905-844-7700 or Toll-Free Number:
1-866-434-7225
Mutual
Fund Statistics:
October 2012
Assets
under management:


$834.3 billion


Net
sales
(excludes reinv.distr.):
$2.10 billion
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Copyright ©2012 Fiscal
Agents Financial Services Group
All rights reserved.


The information contained in this newsletter is intended only as a general guide
and may not be suitable for certain individuals. If expert advice is warranted,
readers are urged to consult a competent professional. While any investment, legal,
tax and accounting information, contained herein, has been obtained from sources
believed to to be accurate, constant changes in the legal and financial environment
make it imperative that readers confirm this information before making financial
decisions. This newsletter is not and under no circumstances is to be construed
as an offer to sell or the solicitation of an offer to buy any securities. This
newsletter is furnished on a basis and understanding that Fiscal Agents Ltd.,
Fiscal Agents Insurance Ltd. cannot be held responsible or liable for liability
a reader of this newsletter may suffer as a result of reliance on information
contained herein or omitted. © 2012 This newsletter is protected by copyright
and all rights are reserved. Money Management Made Easy® is a Registered
Trade Mark of Fiscal Agents. Mutual Funds offered through IPC Investment Corp.
Commissions, trailing commissions, management fees and expenses all may be associated
with mutual fund investments and the use of an asset allocation service. Please
read the prospectus of the mutual funds in which investment may be made under
the asset allocation service before investing. Mutual Funds are not guaranteed,
their values change frequently and past performance may not be repeated. Fiscal
Agents Financial Services Group, P.O.Box 5000, Oakville, ON. L6J 5C7 (905)844-7700

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