The phrase "expand your business, don't contract" is a common business maxim. It is a recurring theme in business literature, emphasizing an aggressive growth mindset, especially during times of economic uncertainty.
Investing appears to be complicated and complex. But if you can take some relatively simple concepts to heart and adhere to them, you can greatly increase your success.
Here are ten time-tested principles of investing success. Following these principles can pay you big dividends (and capital gains) for many years to come.
Everywhere you look or listen, you’ll find plenty of investing opinions and advice. Some of it may be great information but not a good fit for you. Much of it is mediocre or downright awful, biased, uninformed, and misleading. Here are some important things you should know and do to evaluate investing resources and get the best and right information for you.
In a world of very pricey investment products and very well-paid investment-product salespeople of Wall Street, exchange-traded funds (ETFs) are the ultimate financial killjoys. Since their arrival on the investment scene in the early 1990s, more than 1,300 ETFs have been created, and ETF assets have grown faster than those of any other investment product.
If you’re an investor in Canada with a non-registered investment account, you likely incur expenses to manage the investments and account for the investment income you earn. It’s important to keep track of those expenses — many of them are tax deductible. Here are some tips to help you minimize the tax exposure on your investments.
Investing involves putting your money to work through the buying and holding of investment products with the expectation of growing your money. It could boost your returns or provide the required amount of income to help achieve your financial goals. In many cases, the growth and income that can come from investing is a key ingredient to making financial goals achievable.
The investment landscape can be extremely dynamic and ever
evolving. But those who take the time to understand the basic
principles and the different asset classes stand to gain
significantly over the long haul.
It’s always best to file your taxes on time, and with correct and
complete information. Otherwise, you could end up paying
penalties or fees related to tax filing.
If you’re an employee, your employer will deduct income tax from your pay cheque. This is known as tax deductions at source. Youremployer then sends this tax on your behalf to the Canada Revenue Agency (CRA).
Filing your taxes might be one of the most important financial
actions you’ll take each year. It can also feel confusing or stressful at times.
If you're shouldering a large balance, getting out of debt can be a challenge. Here are some steps you can follow to pay off your
debt.
Business credit cards can help you manage your business
finances, separate personal and business expenses and offer
valuable rewards, but they can also have a negative impact on
your personal credit score. Here’s how to decide if a business
credit card is right for you.
A credit card is a revolving line of credit that you can use, pay off
and use again. Credit cards may also offer various benefits,
including rewards, insurance, fraud protection and more.
Different types of debt include credit cards and loans, such as
personal loans, mortgages, auto loans and student loans. Debts
can be categorized more broadly as being either secured or
unsecured, and either revolving or installment debt.
As humans, we instinctively pay close attention to things that
excite us and ignore those that bore us. As investors, we must
fight this instinct with every fiber of our being as the boring
topics are often the most important to long term financial
success.
It's not about how much money you make, but how much you invest and keep, how hard it works for you and how many generations it will last. Here are 4 Numbers Every Investor Should Know.
Personal Growth is a never-ending journey. You'll grow and develop throughout your life. A development plan gives you the opportunity to direct that growth in a direction that is intentional.
Whether you’re starting a small business, running an established one or just wanting to increase the value of your Personal Brand, the road to success can be daunting.
In the quest for financial prosperity, successful individuals often share common traits and strategies that propel them towards wealth. While there is no one-size-fits-all formula for success, certain focus areas consistently emerge among those who achieve significant affluence.
Each day holds 24 hours. The key to success is using that time wisely. Understanding the value of an hour of your time leads to the ability to make better decisions about where and how you invest.