College and university students may encounter credit card sales representatives on campus. Students can get their own card at age 18 in Alberta, Saskatchewan, Manitoba, Ontario, Quebec and Prince Edward Island, and at 19 in other provinces. If your child follows these guidelines, hopefully the card won’t be seen as free money.
Today’s youth may prefer to pick up information online, but when it comes to learning about financial life, parents still have some influence. Here are a few teaching moments.
When your home represents a sizable portion of your net worth, you might wonder if downsizing would give you a more comfortable retirement. It’s a decision that not only involves financial planning, but practical and psychological factors as well.
Your portfolio represents your future, so it’s only natural to want to monitor how your investments are doing. How often you need to check largely depends on the type of investor you are. Active investors who constantly buy and sell individual stocks will monitor performance frequently, perhaps daily. But individuals with well-diversified managed portfolios investing for the long term have less need to check their portfolios on a constant basis.
For several decades as an investor, there was always a silver lining to a market downturn. That’s when investment managers purchased stocks at value prices so you could enjoy higher returns when the market rebounded. But that all changes when you’re close to retirement and once you’re retired.