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By definition, financial elder abuse is the use of someone’s money without their permission or in a fraudulent manner. Nova Scotia’s population is rapidly getting older. According to the latest census, for the first time in our province’s history, there are more people 65 and older than there are 14 and under.
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The Nova Scotia Securities Commission is launching a new page on their website in June focusing on “Investing Information for Seniors.” This website will include two new printable information sheets:
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Commodities are basic goods that are in high demand across the globe. They are generally uniform in quality and utility regardless of their source. Think of it this way. Wheat is a commodity. The last time you bought a large bag of flour at the grocery store did you think about where and what kind of wheat was sourced to make your flour? Chances are the answer is no.
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Both distributions and dividends are typically cash payments made to investors. Where they differ is where they come from.
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We’ve discussed shares several times in our blog posts, but today we’re going to look at the specific difference between common and preferred shares.
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It may be an urban legend, but Albert Einstein reportedly once said that compound interest is “the most powerful force in the universe.” Compound interest can be a great tool to help investors quickly grow their money. However, if you owe money that is being compounded it can be detrimental to your finances.
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If you’ve been putting money away in an RRSP account for your retirement, eventually you’ll need to transfer it to an RRIF. Despite the fact many people have put aside money in an RRSP, few know what an RRIF is, or that they’ll need one when it comes time to retire.
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Investments make money in multiple ways, including:
1. By paying out income
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Annuities are financial products that delivers a steady payment to an individual. They are primarily used as an income stream for retired people.
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We conclude our investment risk series this week by looking at foreign investment risk.