Author Archives: Jim Yih

Differences between LIRAs and RRSPs

In dealing with Workplace Savings Programs, there can be a lot of confusion with the difference acronyms in the financial industry.  One of the common misunderstandings is knowing the difference between LIRAs and RRSPs. What is an RRSP? RRSPs are very common.  As a result most people have heard of them, know something about RRSPsContinue Reading

The World of Guaranteed Investing

If you pick investments based on a popularity contest, chances are you would be on the hunt for something with a guarantee. In times where equity markets disappoint investors, investors will often search for guaranteed investments. I am a believer that psychology plays a huge role in investing, and while I fundamentally believe that investorsContinue Reading

Investing and Taxes Go Hand in Hand

If you are looking to invest non-RRSP money, it is crucial that you are aware of the implications of tax. The biggest problem in the industry today is that we post pre-tax returns and not after tax returns. Investing and taxes go hand in hand so be sure to understand how different investments are taxed.Continue Reading

Marginal Tax vs Average Tax

In Canada, we operate under a marginal tax rate system which simply means the more money we make, the more tax we are privileged to pay. Marginal tax is simply the amount of tax paid on an additional dollar of income. As income rises, so does the tax rate. This is different than a flatContinue Reading

Don’t get lured by Financial Pornography

In my workshops I often refer to the term “Retirement or Financial Pornography”.  It often gets peoples attention.  In fact, when  Canadian Capitalist reviewed my book “10 Things I Wish Someone Told Me About Retirement” he references the term retirement pornography as the opposite of straight talk you don’t usually hear. Sex sells I AsContinue Reading

What should you do with extra cashflow?

Jack and Jill came to me regarding their financial situation. They have been married and working for the past three years and last year bought their first home together. They had a bunch of questions about various issues regarding taxes, insurance, retirement and investing. One of the most interesting issues came from the fact thatContinue Reading