Feb 5, 2010
How Do you Know if Money Runs your Life?
If you exhibit one or more of the following symptoms, consider that money is running your life:
When controlling what happens with your money, results include:
Azhar Laher
Thornhill Wealth Forum
_________________________________________________________________________________________________________________________________________________________
Feb 12, 2010
Today's Friday Minute is brought to you by Karl Marshall - Your RRSP Specialist.What kind of investments should you hold in your RRSP? Can I take money out of my RRSP without a penalty? Catch up on your RRSP before March 1st. Karl Marshall specialises in RRSPs and RRSP loans. Call 416-554-0892 or email karl@karlmarshall.ca.
www.karlmarshall.caRRSP Checklist
To Your Success!
Azhar Laher
Thornhill Wealth Forum
_________________________________________________________________________________________________________________________________________________________
Feb 19, 2010
Today's Friday Minute is Brought to you by Karl Marshall - Your Insurance Specialist.Shift your rates into low gear. Call State Farm Agent Karl Marshall for a FReE auto insurance quote. . Call 416-554-0892 or email karl@karlmarshall.ca. www.karlmarshall.ca
RRSP Contribution Rules
New Rules Governing Canada Back Mortgage Insurance, effective April 19, 2010.
To Your Success!
Azhar Laher
Thornhill Wealth Forum
_________________________________________________________________________________________________________________________________________________________
Feb 26, 2010
Today's Friday Minute is Brought to you by Karl Marshall
For insurance and financial services contact State Farm Agent Karl Marshall @ 416-287-2004 or visit www.karlmarshall.ca
The Save- to- Spend Budget
If you'd like to become an avid saver, try this Save-to-Spend Plan. While most budgets are designed to control spending, this one is designed to expand your savings. And strangely-wonderfully-the focus on saving helps you to spend less.
Here's the plan: Based on a monthly income of $4,000. You can work from your pre-tax or after-tax income; pre-tax helps you save more. Either way, aim for these percentages:
1. Set aside 10% per month for retirement. ($4,000 x .10 = $400)
2. Save 10% for long-term needs, i.e. a new car, a down payment.
3. Save 10% for short-term and unexpected expenses, i.e. a friend's wedding this spring, replacing a lost cell phone.
4. Stash a final 10% for fun, frivolous, pleasure.
Total saved: $1,600
If living on the remaining 60% (in this case, $2,400) sounds impossible, don't flip out. This is the save to spend plan, remember? You don't really live on beans and 60% of your income. You end up spending two of those four savings buckets every month, and the third one as needed.
The beauty of this system is three-fold:
1. By creating stashes of cash, you will be able to cover all your expenses-especially the curveballs-and avoid relying on little Ms. Visa..
2. As you ramp up your savings, you'll pare down your spending, because you'll want to save.
3. You never feel like you're on a budget. You feel rich, because you have cash growing in your accounts.
Click here to to download the Save-to-spend-budget
To Your Success!
Azhar Laher
Thornhill Wealth Forum
How Do you Know if Money Runs your Life?
If you exhibit one or more of the following symptoms, consider that money is running your life:
- Procrastinate with paying bills
- Pay bills late
- Earn income but feel you need to make more money to survive
- Sleep worrying about money
- Argue about money
- Feel there is no way out of current financial situation
When controlling what happens with your money, results include:
- Spending less than earnings
- Pursuing financial goals
- Saving for the future every month
- Maintain cash reserves for emergencies
- Debt is chosen wisely
- Not regretting financial decisions - no matter how they turn out
Azhar Laher
Thornhill Wealth Forum
_________________________________________________________________________________________________________________________________________________________
Feb 12, 2010
Today's Friday Minute is brought to you by Karl Marshall - Your RRSP Specialist.What kind of investments should you hold in your RRSP? Can I take money out of my RRSP without a penalty? Catch up on your RRSP before March 1st. Karl Marshall specialises in RRSPs and RRSP loans. Call 416-554-0892 or email karl@karlmarshall.ca.
www.karlmarshall.caRRSP Checklist
- The RRSP deadline is March 1, 2010.
- To qualify as a 2009 deduction, contributions to your personal or spousal RRSP must be made on or before March 1, 2010.
- Determine your RRSP contribution limit for 2009 by referring to your previous year's Notice of Assessment.
- You can take advantage of any unused 2009 RRSP room up to your contribution limit. You will receive a 2009 tax deduction for this amount as long as a contribution is made by the March 1, 2010 deadline.
To Your Success!
Azhar Laher
Thornhill Wealth Forum
_________________________________________________________________________________________________________________________________________________________
Feb 19, 2010
Today's Friday Minute is Brought to you by Karl Marshall - Your Insurance Specialist.Shift your rates into low gear. Call State Farm Agent Karl Marshall for a FReE auto insurance quote. . Call 416-554-0892 or email karl@karlmarshall.ca. www.karlmarshall.ca
RRSP Contribution Rules
- Unused contribution room can be carried forward indefinitely (subject to age limits)
- Contributions are deductible for the previous year if made within 60 days of year end
- Contributions may be carried forward indefinitely and deducted in a future year
- Contributions to an individual RRSP may be made up to and including the year in which the annuitant turns 71
- By December 31 of that year, RRSPs must be deregistered or transferred to a Registered Retirement Income Fund (RRIF) or an annuity
New Rules Governing Canada Back Mortgage Insurance, effective April 19, 2010.
- All borrowers must now qualify to meet the standards for a five-year fixed-rate mortgage, even if they choose a variable mortgage with a lower rate or a shorter term.
- Maximum loan to value on refinancing has been reduced to 90% from its current 95%.
- Non-owner occupied properties will require a minimum down payment of 20%.
To Your Success!
Azhar Laher
Thornhill Wealth Forum
_________________________________________________________________________________________________________________________________________________________
Feb 26, 2010
Today's Friday Minute is Brought to you by Karl Marshall
For insurance and financial services contact State Farm Agent Karl Marshall @ 416-287-2004 or visit www.karlmarshall.ca
The Save- to- Spend Budget
If you'd like to become an avid saver, try this Save-to-Spend Plan. While most budgets are designed to control spending, this one is designed to expand your savings. And strangely-wonderfully-the focus on saving helps you to spend less.
Here's the plan: Based on a monthly income of $4,000. You can work from your pre-tax or after-tax income; pre-tax helps you save more. Either way, aim for these percentages:
1. Set aside 10% per month for retirement. ($4,000 x .10 = $400)
2. Save 10% for long-term needs, i.e. a new car, a down payment.
3. Save 10% for short-term and unexpected expenses, i.e. a friend's wedding this spring, replacing a lost cell phone.
4. Stash a final 10% for fun, frivolous, pleasure.
Total saved: $1,600
If living on the remaining 60% (in this case, $2,400) sounds impossible, don't flip out. This is the save to spend plan, remember? You don't really live on beans and 60% of your income. You end up spending two of those four savings buckets every month, and the third one as needed.
The beauty of this system is three-fold:
1. By creating stashes of cash, you will be able to cover all your expenses-especially the curveballs-and avoid relying on little Ms. Visa..
2. As you ramp up your savings, you'll pare down your spending, because you'll want to save.
3. You never feel like you're on a budget. You feel rich, because you have cash growing in your accounts.
Click here to to download the Save-to-spend-budget
To Your Success!
Azhar Laher
Thornhill Wealth Forum