Monthly Archives: July 2012

Odette Morin

Is it possible to retire early?

When the weather is so nice and there is so much to do outside, we can’t help but thinking about early retirement. Is it possible to retire early?

Well, to answer that question, we must first find out how much income we will need at retirement to live comfortably. This is a very personal calculation. I usually like to use the net income earned  today minus the expenses that you won’t have at retirement such as the mortgage and savings for retirement plus the additional  expenses such as extra travel maybe. Here is a retirement budget helper from the million dollar journey. Try it and let me know what you think!

Here is the link

Odette Morin

Are your Vacations putting you in debt?

In my practice, the number one reason why people get into debt is Travel.  Failing to save for vacation is a big problem and booking a trip thinking that you will have the money to pay for it when you come back or over a few months is not a good idea simply because something else you have to pay for will  be sure come your way. 

If you don’t have the money for a trip, you simply can not afford it. Be creative this year instead.  There are all kind of ways you can enjoy your vacation or staycation! 

Here are a few tips about how to expand your vacation budget



Odette Morin

Is organic food too costly?

Personally, I would not go any other way but it is easy for me to say.  It is only my husband and  me and a 7lb yorkie in our family.  The high cost of organic food may not be a choice at all for a family with growing children.  Or is it?  When budgeting,  someone like me would say it is often a matter of choice.  There is usually a way to make it happen.  If your family’s health and the taste of food is a priority, you may be willing to forgo a night or two in a restaurant or fast food.  Having said this, if more of us ate organic, the price of it would come down from the economy of scale.  It would infinitely  be better however, if there was some serious willingness at the Government level to help organic farmers, regulate how our food is grown and educate people about good nutrition.  With the way health care cost is going, that sure would be a smart investment.  The politics of this issue is a big question which would require much debate.  What do you think?  Am I totally off the wall?  Go ahead and speak your mind!

 The article on the subject


Odette Morin

Shopping at Factory Outlets? It’s so much cheaper, right? Look again. You may be getting ripped off


Vicky Oliver, author of “The Millionaire’s Handbook” researched it and says “That Coach handbag at the outlet is not the same one sold in a department store,” Oliver says. “It’s a completely different calibre of an item. Its full-price cousin is sturdier, has superior stitching and softer leather. The outlet merchandise is less costly, but lower in quality, too. And if it is the real thing, the only reason it’s there is because people with money didn’t like it enough to buy it.”

I always say, cheaper is cheaper. Don’t be fooled. If it looks too good to be true, it usually is.

Here is the full article – 6 secrets retailers don’t want you to know.



Anthony Sabti

BCHST Credit Payments End January 2013

If you received your 2012-2013 CRA GST/HST credit notice summarizing upcoming payments for the Federal GST/HST Credit, BC Climate Action Tax Credit, and BC HST Credit, you’ll notice that the final BC HST Credit payment will be made on January 4, 2013.  This is due to the re-introduction of the Provincial Sales Tax on April 1, 2013.

For eligible BC residents, the maximum BC HST credit is/was $230 for yourself, $230 for your spouse or common-law partner and $230 for each qualified dependent.

The BC Refundable Sales Tax Credit will be re-introduced for 2013 and later years.  You’ll be able to claim up to $75 for yourself and $75 for your spouse or common-law partner.

BC Government Notice on this issue


Terry Broaders

Weekly Update July 13 2012

“Those Who Bring Sunshine Into The Lives of Others Cannot Keep It From Themselves” -James M. Barrie



Oil Price Rise Lifts TSX

The Toronto stock market was higher Friday amid rising oil prices and hopes that China’s slowing growth will persuade officials to take further steps to energize the world’s second-biggest economy.  The S&P/TSX composite index gained 59.78 points to 11,485.26 while the TSX Venture Exchange edged up 7.56 points to 1,176.76.  The Canadian dollar was up 0.41 of a cent to 98.58 cents U.S. Stronger than expected earnings from banking giant JPMorgan Chase helped send New York markets higher even as it massively increased the loss from a huge trading blunder in May. The biggest U.S. bank earned US$5 billion, or $1.21 per share, for the second quarter, much higher than the 76 cents that analysts expected.  It also reported that its loss from an embarrassing trading misstep has grown to $4.4 billion, more than double the bank’s original estimate of $2 billion.

Commodities gained even as China’s economic growth fell to a three-year low of 7.6 per cent during the second quarter, in line with expectations.  Other Chinese data for June showed industrial production slowing to 9.5 per cent year over year while retail sales eased a bit but beat expectations, rising 13.7 per cent year over year.  In recent weeks, the Chinese authorities have cut interest rates, lowered banks’ reserve requirements to encourage lending and increased spending on infrastructure projects. More is now expected. The Chinese economy has been a major prop for the global economy still recovering from the 2008 financial collapse and recession.


Market Update as of July 13 2012


The TSX closed at 11515, down -145 points or -1.24% over the past week. YTD the TSX is down -3.68%.

The DOW closed at 12777, up 5 points or 0.04% over the past week.YTD the DOW is up 4.58%.

The S&P closed at 1357, up 2 points or 0.15% over the past week.YTD the S&P is up 7.87%.

The Nasdaq closed at 2908, down -29 points or -0.99% over the past week.YTD the Nasdaq is up 11.63%.

Gold closed at 1588, up 4.00 points or 0.25% over the past week.YTD gold is up 1.47%.

Oil closed at 87.25, up 3.08 points or 3.66% over the past week.YTD oil is down -11.78%.

The USD/CAD closed at 0.9854, up 0.0029 points or 0.30% over the past week.YTD the CAD/USD is up 0.57%.


Sources:  Bloomberg;; Statistics Canada; Investment Executive