Owning a home became a little more affordable: RBC“Housing affordability improved

modestly for the second consecutive quarter in the fourth quarter of 2010,"according to a Royal Bank of Canada study.

General National Trends:

"Homeownership costs were lowered by small decreases in the five-year fixed mortgage rate during October and November of 2010 amid minimal home-price appreciation. Outright declines in certain local markets were also observed. At the national level, the RBC Housing Affordability Measures fell depending on the housing type between 0.4 and 0.8 percentage points in the fourth quarter. A decrease repre-

declines, reflecting soft market condi-sents an improvement in affordability".tions - although there have been signs of

Provincial Trends: tightening more recently. Weak to "Housing Affordability Measures moderate declines in the RBC Measures

fell in the majority of provinces in the registered in other provinces resulted latest quarter. Only the standard two- primarily from lower mortgage rates. storey benchmark became less afford- Home prices generally able in Ontario and Quebec, as did the standard condominium apartment in Quebec and the Atlantic region. The most significant improvement occurred in Alberta, where falling home prices once more contributed to lowering the bar for homeownership. The Alberta market is the only provincial market showing year-over-year home price

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World's Most Liveable Cities. Toronto is world's fourth most liveable city. Only Vancouver, Melbourne and Vienna are rated higher. In 2011 rankings, just 2.3 percentage points separated the number 1 ranked Vancouver, and the number 10 ranked Auckland, New Zealand.

The Economist Intelligence Unit's livability shows cities in Canada, Australia, Austria, Finland and New Zealand as the ideal destinations thanks to a widespread availability of goods and services, low personal risk and an effective infrastructure. The Economist Intelligence Unit has been criticized by the New York Times for being overly anglocentric, stating that "The Economist clearly equates livability with speaking English.

Three Canadian cities such as Vancouver (first), Toronto (4th) and Calgary (5th) claimed positions in the top ten. It is interesting to know that three Australian cities (Sydney at 7th

he Economist Intelligence and Perth and Adelaide tied at 8th) also Unit announced last month claimed positions in the top ten.(February 2011) it's list of the T

il and gold prices are driven by Capital Economics.Otensions in the Middle East and Libya holds the most oil reserves in North Africa. There are concerns over Africa and is the world's 15th-largest inflation. Investors began to gauge its crude exporter at 1.2 million barrels per impacts on global economic recovery. day, according to the Energy Geopolitical tensions and inflationary Information Administration .pressures are 2 key factors driving gold

Any production losses out of Libya and oil prices higher.could be quickly absorbed by other

Should central banks, especially countries like Saudi Arabia. The main those in the advanced world, fail to concern stalking markets is that revolts tighten monetary policies in light of in the Middle East and North Africa will higher inflation, the metal would spread to OPEC heavyweights, particu-accelerate its rally. larly Iran , the group's second-largest

Crude oil prices are staying the producer.highest level in 2.5 years. Fears that mounting civil unrest in Libya could spill over into other leading oil-producing countries sent crude prices soaring .

The crisis in the Middle East and North Africa — which has brought down governments in Tunisia and Egypt and sparked protests in Yemen, Bahrain, Iran, Morocco and Jordan — will put added pressure on weaker economies, especially those in Europe, according to

PAGES 16

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Soaring oil and gold prices : will they impact Canada?

Toronto is adjudged asworld's fourth most liveable city

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DREAMS MONEYMARCH 2011

From Pg.No.1 Ÿ Infrastructure

Each city receives an overall rating of 100; 100 is considered to be ideal and 1 is intolerable. The health care facilities The Economist's World's Most and education standards offered by Livable Cities 2011 (Top 10)Australia and Canada are a major factor

City Country Ratingin these countries' cities continued

1 Vancouver Canada 98.0 dominance of the World's Most Liveable Cities.2 Melbourne Australia 97.5

The World's Most Liveable Cities 3 Vienna Austria 97.4Bottom 10 Ranked Cities

4 Toronto Canada 97.2131. Colombo, Sri Lanka

5 Calgary Canada 96.6132. Dakar, Senegal

6 Helsinki Finland 96.2133. Tehran, Iran

7 Sydney Australia 96.1134. Douala, Cameroon

8 Perth Australia 95.9135. Karachi, Pakistan

Adelaide Australia 95.9136. Algiers, Algeria

10 Auckland New Zealand 95.7137. Lagos, Nigeria

The Economist Intelligence Unit 138. Port Moresby,ranks 140 cities from around the world

Papua New Guineabased on 30 indicators, from five broad categories: 139. Dhaka, Bangladesh

Ÿ Stability 140. Harare, Zimbabwe

Ÿ Healthcare Founded in 1946, the Economist Intelligence Unit in the in-house Ÿ Culture and environmentresearch unit for the Economist maga-

Ÿ Educationzine, employs over 120 full time staff.

Toronto is adjudged as world's fourth most liveable city

esearch released by the Bank of U.S. counterpart,” the report stated. Canada recently suggested that “Many Canadians sign five-year, fixed-R

Canada's largest banks are slow to pass rate contracts for the life of the mortgage on cuts in the Bank of Canada's policy -- typically 25 years.” interest rate. What is interesting is that all offer

The banks' practice of holding off the same types of mortgage assets, the discounting for longer periods is great bulk of these being guaranteed by “common practice.” It has been every the federal government's Canada day experience of the common man for Mortgage and Housing Corporation. the last two years or so. “The conclusions of the report are

very reasonable,” said Jim Murphy, president and CEO of CAAMP. “They coincide with our own research at CAAMP on discounts. Mortgage brokers play a key role in offering choice to borrowers when making their

Time and again, it was noticed in the most important financial decision.”past that Canadian lenders were

If there's more competition, then extremely slow to pass on changes in the lenders will move quicker to lower rates Bank Rate to their customers. When it and attract business when the opportu-comes to adjusting their rates upward, nity presents itself. In fact, this happens banks adjusted more quickly. Banks all the time in the broker/wholesale coordinate their efforts in this regard channel, where there's more competi-either implicitly or explicitly. tion.

The research also indicated that Banks are guided more by profit borrowers who use a mortgage broker

motives than passing the benefits to the pay less, on average, than borrowers consumers. Market is controlled by the who negotiate with lenders directly. six banks. Unless the Bank of Canada or This average discount is about an the Government intervenes, customers additional 19 basis points.are unlikely to get any benefits in time in

“The Canadian mortgage market is future also. We need more lenders, not relatively simple and conservative, fewer. Oligopoly is good for the banks particularly when compared with its not for the consumers.

he latest statistics on U.S. home Virtually all those cities -- 18 of 20 -- prices show that they are now also posted price drops year-over-year. T

approaching levels not seen since the Only D.C. and San Diego did not.housing bubble burst in 2006 and 2007. Price declines in recent months have

Eleven cities posted new index level been driven by a rising share of dis-lows in December 2010, since their tressed sales, including homes sold by 2006/2007 peaks. These cities are lenders that have taken properties over Atlanta, Charlotte, Chicago, Detroit, from former owners. Banks are typi-Las Vegas, Miami, New York, Phoenix, cally much faster to reduce prices and Portland, Seattle and Tampa. Nine of unload properties quickly than home-these cities had also posted lows with owners. Falling or flat prices put November's report as well. pressure on the housing markets

because they leave more borrowers with "Despite improvements in the homes worth less than the amount owed overall economy, housing continues to on their mortgages. That in turn can lead drift lower and weaker,” said David M. to more foreclosures. Blitzer, Chairman of the Index

Committee at Standard & Poor's. The good news is despite the housing “Unlike the 2006 to 2009 period when market's woes, consumer attitudes are all cities saw prices move together, we improving.see some differing stories around the country,”

“California is a relative bright spot”, according to David M. Blitzer,” the Sun Belt cities of Las Vegas, Miami, Phoenix, and Tampa continue to struggle.”

More detailed data showed price declines for 19 of 20 metropolitan areas in December compared to the month before. Washington D.C., where prices rose 0.3 percent, was the lone exception.

Greater Toronto REALTORS® $451,257, representing a five per cent reported 3,084 sales during the first two increase compared to the first two weeks of February 2011 – a 13 per cent weeks of February 2010.decrease compared to the first two "Average selling price growth for weeks of February 2010. existing homes is expected to range

"We are on pace for a strong sales between three and five per cent this year. result in February, but transactions will Tighter market conditions over the last come in lower than the record result four months have pushed price growth reported last February. Sales remain to the top end of this range," said Jason strong because the GTA resale market Mercer, TREB's Senior Manager of contains a diversity of housing types Market Analysis.catering to a wide array of home ownership needs," said Toronto Real Estate Board (TREB) President Bill Johnston.

The average price for transactions during the first 14 days of February was

U.S. Prices Slide Housing Continue

Mortgage Interest Rates

Nothing new is revealedBank of Canada's research

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Sales Average Price Sales Average Price

City of Toronto ("416") 1,291 $ 499,861 1,430 $471,958

Rest of GTA ("905") 1,793 $ 416,260 2,125 $ 401,760

GTA 3,084 $451,257 3,555 $ 429,99

2011 2010

Summary Of February Sales And Average Price - February 1st to February 14th

416 905 Total 416 905 Total

Detached 400 1,003 1,403 751,366 501,372 572,646

Yr./Yr. % Change ‐14% ‐18% ‐17% 9% 6% 7%

Semi‐Detached 140 203 343 511,139 351,164 416,460

Yr./Yr. % Change -4% ‐16% ‐11% 3% 6% 6%

Townhouse 123 327 450 393,515 310,371 333,097

Yr./Yr. % Change ‐19% ‐15% ‐16% ‐2% 1% 0%

Condo Apartment 612 223 835 359,775 257,813 332,545

Yr./Yr. % Change ‐6% 0% ‐5% 9% ‐1% 6%

Sales & Average Price By Home Type - February 1st to February 14th, 2011

Average PriceSales

GTA home prices rise as sales fall: TREB

3

MARCH 2011

Soaring oil and gold prices : will strengthened against other leading they impact Canada? currencies as investors sought safe

havens for cash, offloading riskier From Pg. No.1assets..

Some observers expect a return to Michael Hewson, analyst at CMC the sharp fluctuations of oil prices seen

Markets, said: “Investors have been in the 1970s, when an embargo led by nervous about a stock market correction the Organization of Petroleum for some time. Exporting Countries caused gasoline

shortages in the U.S. “Tensions in the Middle East could provide a catalyst for just such a In Canada, a major oil producer and correction.”exporter, the higher crude prices have

had a mixed impact. The higher world The reaction is maybe a little bit prices for crude have helped boost the overdone. Hopefully as conditions Canadian currency above par with the begin to settle down again, we'll start to American dollar, putting pressure on the see the fundamentals reassert them-exports of manufactured goods and oil- selves.”consuming sectors of the country. Expect nothing but a roller coaster

The Swiss franc and US dollar often ride for a few weeks, if not months."

Ÿ Rising oil prices have inflation. Oil is one both positive and part of that,”negative impacts in ŸNot overly worried Canada about the risks of a

Ÿ We export a lot of oil spike in oil prices out of Canada, we due to instability in consume a lot of oil in the Middle East.Canada as well. The ŸThe federal govern-oil sands, the oil m e n t r e m a i n s industry in Canada is committed to keeping good for the entire prices from rising too country quickly.

Ÿ I don't think there's We have our agreement reason to have any strong concern with the Bank of Canada to target about any long-term effects. inflation between 1 and 3 per cent in

Ÿ “We're always worried about Canada

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4

Rising education cost leads to rising with better income or cash flow. Students who qualify for the diligently.debts. If you are a student, plan dili- Canada student Loan Program b) Bursary: These are non- e) Line of credit: Ask your parents, gently and avoid the debt trap. Here are and are studying in university, repayable awards given to if they can arrange for you some strategies to graduate debt-free. college or trade schools are students based on their financial additional fund by taking line of

automatically eligible for this need. It is better to try and get credit (or refinancing if mortgage grant, and can receive it through-your share, if you are eligible. renewal is near and it make sense out the duration of their programs financially) on their home equity. c) Scholarships: Again, this is also a

3. Evaluate all your expenses. The interest rate on such line of non-repayable award. A useful While evaluating, don't forget to credit is equal to prime rate website for this purpose is include all your anticipated and (which is 3% now) or prime + www.hwdsb.on.ca/westdale/studunanticipated expenses. 0.50;which may be cheaper than entservices/resourcelist.htm

the student loan interest rate

f) Extended schooling: If you have option, take extra time to gradu-ate provided you can find a better

d) RESP: If you or your parents have paying job in between. .

planed for Registered Education 5. Monitor, review and update: Saving Plan it is time to use. Here

Always watch your spending and also you get some free money from look forward to any additional federal government. Government 4. Check the adequacy of your funding opportunities like co-op, grant is 20% of your contribution on income. If your income is not Most important step to achieve your scholarship and bursary.the first $2500 ($2000 before 2007). adequate, here are some tips to goal is your own will power and

Better to know more about this plan 6. Final Tip: Use Credit Cards only manage.determination. Believe that you can and use it to your advantage. when you have resources to pay it achieve it. If you can not believe, find a) Cut Expenses: No doubt, it is

down. This may be the single e) Lifelong learning Plan: while some one who has achieved it. “seeing is difficult. However, review your contributor for your financial pit-working you can invest in RRSP believing”. Ask if he or she (who expenses and eliminate or fall. 19 or 20% interest on your (Registered Retirement Saving Plan) graduated debt-free) can become your minimize some of them, if you credit cards will not only increase and can save on income-tax payable. mentor. can. your stress level, but will make You can also withdraw from RRSP Next step is Education Planning. b) Select the home university: If the debt burden unmanageable. If tax-free under Lifelong learning you are able to study by staying 1. Determine your education needs you have credit card, use it program up to $20000. ( $10000 with parents; you will substan-in terms of dollar amount for the smartly and pay the full balance maximum per year). You can pay it tially save for boarding, food, duration of the course, say four every month.back in 10 years. A financial planner phone, internet and life essen-years can help you in this regard. Following these steps may be tough tials.2. Decide the capital resources you but not impossible. All the best for f) New Canada Student Grant

c) Share the cost: you can share have now and the income you debt –free graduating.program: under this program, some costs with your class-mate expect to receive from all students from low-income Chandresh Brahmbhatt MBA, CFP or room-mate like books, internet sources. Some commonly families can receive a cheque for is an independent Certified and accommodation.available resources are $250 per month during the course Financial Planner. He can be

d) Part-time job: I know it's hard to contacted at 416-722-8993 or a) Co-op program: it's better than duration while students from work and study but many email:Chandresh.cfp@gmail.comthe regular summer job. You gain middle-income families are students manage by planning experience in the chosen field, eligible for $100 each month.

MARCH 2011

Chandresh BrahmbhattMBA CFP

Graduate Debt Free

students forgo over four years.

Whenever you take out a large loan for any reason, you're essentially

can't put a price on ignorance,” said Ezra mortgaging your future earnings. Kazee, who has $29,000 in student debt Starting your independent life tens of n the market of goods and and has been unable to find a job since thousands of dollars in debt (before services, college education is graduating from Winona State factoring in things like car payments, unique in the respect that people I University in Minnesota last May. “But To cite the extreme and obvious exam- housing, wedding-related costs, etc) is a typically assume that no price is too high with the way higher education is going, ple: Bill Gates is rich because he knows major burden that most college students to pay for a “quality education.” ignorance is looking more and more how to run a business, not because he simply don't consider before enroll-According to FinAid.org, a college affordable every day.” matriculated at Harvard. Finishing his ment.financial aid website, the average degree wouldn't have increased his An oft-quoted pro-higher education

cumulative debt for a student who has income.statistic is that college graduates will just completed an undergraduate degree

make $1 million more than non- All the while students have been is $22,500. For students who choose to

graduates over the course of their lulled into thinking of the extra $1 working life. As a recent article in million that will be theirs, they have Forbes points out, this statistic is very been forced to disgorge an ever larger misleading: fraction of it in pursuit of the degree.

While the premium that college grads Like many good cons, this one earn over high schoolers has remained contains a kernel of truth. Census relatively constant over the past five figures show that college grads earn an years, the cost of acquiring a degree has average of $57,500 a year, which is 82% pursue an MBA program after under- risen at twice the rate of inflation, more than the $31,600 high school grad, total average cumulative debt is dramatically undermining any value a alumni make. Multiply the $25,900 $41,687. sheepskin adds.difference by the 40 years the average

Josh Kaufman is an independent The implicit (and sometimes person works and, sure enough, it comes Offsetting that million-dollar business teacher, education activist, and explicit) assumption is that any amount to a tad over $1 million. income discrepancy is the $46,700 four-author of the Personal MBAof money spent on higher education is year cost of tuition, fees, books, room But anybody who has gotten a money well spent, since it will always (This article presents some uncon-and board at a public school and passing grade in statistics knows what's improve your ability to get a high- ventional ideas and the readers are $99,900 at a private one–even after wrong with this line of argument. A paying job after graduation. As a recent advised to use their discretion in financial aid, scholarships and grants. correlation between B.A.s and incomes New York Times article points out, arriving at their decision. Although we Add all this to the equation and college is not proof of cause and effect. It may many recent graduates are finding out do not endorse all the ideas, we do grads don't pull even with high school reflect nothing more than the fact that the hard way that this assumption isn't recognize the value of the article for our grads in lifetime income until age 33 on the economy rewards smart people and quite true: critical thinking)average, the College Board says. Even smart people are likely to go to college.

“You often hear the quote that you that doesn't include the $125,000 in pay

The Price of a College EducationJosh Kaufman

– Warren Buffett

Price is what you pay.Value is what you get.”“ ”

5

Beacon scores range from 300 to the Beacon score.900, with 900 as the highest possible Home Trust also launched a Credit score. Anything over 600 is generally Assist product in Ontario in October considered as a good credit score. A 2010 as a one-year solution where debts person with a Beacon score below 520 limits are consolidated into one to help need to increase your credit score. will often be turned away from the bank. consumers repair bruised credit. After Ÿ Errors --- pull your own credit Home Trust offers a one-charge mort-

The credit score is comprised of the one year, clients should be able to renew reports from Equifax and gage product where there is a regular following percentages: their mortgage to a prime rate with more

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Ÿ 30 for current debts, – avoid over-applying to creditors and lenders. Ÿ 15 for how long accounts have

been opened and established, -- avoid applying to a number of lenders to find the best deal. Ÿ 10 for type of credit, such as credit

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Generally, moving to A mortgage Ÿ Here are some common situa-(good credit score) from B mortgage tions, causing poor credit scores (poor credit score) simply takes time and recommended remedial steps and sound advice. All that requires is a Transunion at least twice a year fixed payment to own a home and the

Ÿ chronic late payments — a simple kind of financial discipline or changing and check all the information in added feature of an Equityline Visa consolidation of all balances into the existing habits. It may be difficult the reports. card. This Visa provides the flexibility one low monthly payment, but not impossible.of using the equity in a client's home to Often, mortgage payments do not go focusing repaying debt only

secure credit up to $250,000. In the For further information and on credit reports. So even if you pay Ÿ Maxing out credit cards --- do not meantime, regular activity on the Visa advice contact Nargis Nanji your mortgages on time, you may still

exceed 50 per cent of your credit card and paying bills on time improves at 416 471 1148.

Owning a home became a little a further 150 basis points in 2012), more affordable: RBC borrowing costs are set to climb further

still in Canada in the next two years. We From Pg.No.1believe that this will be the dominant

inched higher in the rest of the country - factor that will cause housing with exceptions in the condominium affordability generally to erode across segments of British Columbia and the country going forward, yet the Saskatchewan. In the final quarter of magnitude of this deterioration is 2010, British Columbia continued to unlikely to derail the housing market. stand as the least affordable housing The effect of higher interest rates will be market in Canada and, therefore, partly offset by rising household income endured the most stress. Compared to amid a sustained economic recovery their respective historical norms, and job creation. homeownership costs in Saskatchewan

"The era of rapid home-price and Quebec also appeared to be some-appreciation of the past 10 years has what elevated although both remained likely run its course overall in Canada, below national averages. At the other and we believe that we have entered a end of the spectrum, the RBC Measures period of very modest increases. If in Alberta and Manitoba stood below anything, the recently announced their long-term average in all housing changes to mortgage rules by the federal categories, indicating to us that there is the start of the year. The silver lining of following a steep decline in the spring Minister of Finance will, at the margin, little stress in these markets. In Ontario this slowdown, however, has been an and early summer from unsustainably contribute to that slowing of activityand the Atlantic region, the picture is improvement in affordability in the high levels last winter. The recovery

mixed, with the affordability of some Trends in Ontario province. The RBC Measures edged confirmed our view that the earlier housing types above and others below lower for the second consecutive time weakness had much more to do with the "Concerns last year that the Ontario historical norms." for most housing categories in the fourth advancing of activity in the face of housing market would falter have now

quarter, down by 0.2 to 0.3 percentage special factors (e.g., the HST and new Likely Future Trend largely dissipated. Home-resale activity points. The only exception was two mortgage lending rules) than the picked up smartly in the fall, and"The improvement in affordability in storey homes, which became marginally permanent evaporation of demand.

the last two quarters is likely to be short property values resumed their less affordable amid notable price gains. With the influence of these transitory

lived. Earlier this month, Canadian appreciation trend in the closing months In our opinion, affordability plays a factors largely dissipating by the end of

financial institutions raised posted of 2010, by shrugging off a short-lived neutral role for housing demand in the summer, the Toronto-area market

mortgage rates for the first time since setback in the third quarter. The slow-Ontario at this point, with RBC has since climbed its way back toward

November 2010—by 0.25% to 5.44% in down in market activity in the spring Measures close to their long-run more sustainable levels of activity.

the case of the five-year fixed term. and summer last year largely reflected average in the province." Thanks primarily to lower mortgage

Given our expectation that the Bank of various transitory factors—including rates, local home buyers enjoyed Trends in Toronto "The Toronto-Canada will resume its rate hike the introduction of the HST andimproved affordability for most housing area market sustained a rebound in campaign this spring (adding 100 basis changes in mortgage lending categories in the fourth quarter"activity in the latter part of2010, points to the overnight rate this year and rules—that brought demand forward to

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6

MARCH 2011

January issue was excellent but February issue was better than January issue. Editorial content, articles, lay out design—all were superb. I look forward to see your March issue.

Romesh , Missisauga.

Messages like Top 10 Financial Resolutions, How to resolve your problems with your bank were very informative and useful. Keep up the good work!

Williams John, Toronto.

There are many free papers; yet this paper is totally different. Less advertisements, Quality articles. Wow! Full of useful information! I like it and preserve your copies.

Sheila Kaur, Brampton

Like last time, what interested me most was your health section. Plain but powerful messages and articles. Great Job!

Swaminathan R; North york.

Wonderful Zen stories! I read repeatedly and thought over the messages it conveyed them. I used to deliver speeches for my staff and I am happy to inform you that I used these stories liberally in my speeches and won the appreciation of all.

Faizal Tahir, Scarborough

I read with interest the Investing articles, particularly 10 expert stock picks.

Kathy, Markham

Insurances for living - truly simplified. It was well written.

Faraji, Toronto

Epaper still needs some improvement. It is not very reader friendly.

Arun Raj, Oshawa.

Thanks for your feedback; we have made further improvements to our epaper. Please check it out.

Chief Editor.

proposed federal private members' bill - Freedom 65 - A

now seems likely to die before it can be own lifestyle, circumstances and voted on. If that happens then it is priorities. Today, people are living unfortunate. longer and have more active lives.

The bill would repeal a section of the People look at their invisible assets Canadian Human Rights Act that allows including CPP / QPP and Old Age federally regulated employers to Security, before taking a decision to terminate employees who have reached retire. “The Old Age Security pension, “the normal age of retirement” for the Guaranteed Income Supplement and workers in similar positions. CPP retirement pensions — all guaran-

Full retirement age (also called teed and all fully indexed “ according to “normal retirement age”) had been 65 Milevsky. The adequacy and need for for many years CPP reforms have long talked; however,

CPP reforms were rejected by Finance All provinces and territorial govern-Minister Jim Flaherty last year. But CPP ments have already repealed similar reform is an issue that is not going away.provisions in their own human-rights

codes. For federal public servants, The longer we live, it seems the mandatory retirement was eliminated in longer we end up working. People are 1986. willing to live off the income from their

retirement savings but are scared to dip That leaves the federal government into the principle. We always do a as “the last jurisdiction in Canada to financial plan so you can find out when hold onto legislated age discrimina-you have the freedom not to work. tion,” says the Canadian Association of

Retired Persons. The human rights act's Meanwhile, Canadians opting to provisions apply to federally regulated work beyond 65 are increasing, out of businesses and industries. It includes sheer necessity.people who work for the Canadian Forces, Crown corporations and sectors such as banking, broadcasting, transpor-tation, railway, telephone and marine shipping.

People choose whether to retire or not for many reasons, based on their

Canada’s immigration system has credibility was damaged and the ethnic What was once a modest program changed profoundly since Prime voters he had courted so assiduously designed to bring in nannies, farm Minister Stephen Harper took power were suspicious. But the rest of the workers and foreigners with specialized five years ago. This week, the public got electorate finally had enough informa- skills, is now a major source of low-cost its first glimpse of who the winners and labour. Last year Canada admitted losers are. 180,000 “guest workers” to do every-

Immigration Minister Jason Kenney tion to see what the Conservatives have thing from clean offices to program inadvertently pulled back the veil. He done to the immigration system. computers.announced that immigration reached a They have made four main changes: • They have made it harder for 50-year high last year. “While other immigrants to reunite their families. • They have converted a system with western countries cut back on immigra- Four years ago, spouses, children, one gateway and one set of entry tion during the recession, our govern- parents and grandparents of new admission criteria into a system with a ment kept legal immigration levels Canadians made up 28 per cent of the dozen entry points, each with different high,” he boasted. total. It’s now down to 21 per cent.rules. The provinces can now nominate

Within a day, Kenney’s story started immigrants, employers can recruit • They have diminished Canada’s to unravel. New Canadians complained foreign workers and international role as a haven for people fleeing they were waiting longer than ever to students can stay in Canada after violence and persecution. The number reunite their families. A close look at university if they’re job ready and fluent of refugees allowed into the country has Kenney’s figures showed why. The in English or French. dropped by 25 per cent since they took number of “family class” immigrants power.• They have opened the floodgates to accepted into Canada has dropped by

a stream of temporary foreign workers. To their credit, the Tories have made 10,000 since the Conservatives took needed reforms. They have better power. “We can’t satisfy 100 per cent of aligned immigration with the job our immigrant stakeholders,” the market, reduced the backlog of applica-minister explained.tions from skilled workers and

Two days later, a Vancouver lawyer improved the distribution of immigrants released new figures, obtained through across the country.an Access to Information request,

But they have deprived newcomers showing Ottawa planned to cut the of the family support they need to number of visas issued to skilled integrate successfully, off-loaded workers.responsibility for immigration, and

That contradicted Kenney’s stated given Canada a harsher, more forbid-goal of increasing economic immigra- ding face.tion. Employers were confused and

As Kenney struggles to regain anxious. The minister’s staff claimed control of his file, Canadians can judge the visa statistics understated the the trade-offs he has made and the number of immigrants likely to be overtly self-interested immigration admitted.system that has emerged.

By week’s end, Kenney’s good news announcement was in shreds, his

EDITORIALSYou said it!Your mails!

DISCLAIMERDreams and Money takes care to present all

the information as accurately and efficiently as possible. Any advice or recommendation appearing in the paper is also part of information only. They should not be construed as an expert opinion. Please note that no representation or warranty with respect to the accuracy or the completeness of the information is given. Information always keeps changing. Hence all the information, including advice and recommendations are to be treated as of general nature only. For your speci f ic circumstances, you are always advised to consult an expert before acting on any information.

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Freedom 65

WORTH REPEATING

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DREAMS MONEY MARCH 2011

ou can make a meaningful difference in how you feel each Y

and every day by employing these seven simple steps:

Increase your daily exposure to direct sunlight and/or add supplemental vitamin D. 1. Don't lounge in bed for an Engage in fun, moderate- extended period of time before attempt-intensity physical activity ing to sleep. Research has shown that for 30-60 minutes a day, reading, watching TV, texting and three to five days a week. performing other similar activities in We recommend starting bed prior to attempting to sleep makes it with tai chi and Nordic more challenging to fall asleep.Walking.

2. Don't take naps during the day. Improve how you prepare While "power naps" do help provide a

most of them are highly addictive. And Regular physical activity is the most for sleep each night by boost of short-term energy, midday this is where modern medicine tends to powerful step you can take to protect practicing good sleep siestas disrupt the normal sleep cycle be too hard-line in its recommendations. your long-term health. Whether you're hygiene. and make it more challenging to drift off

perfectly healthy or riddled with Don't try to add all Substitute "Mediterranean at night.disease, regular physical activity has seven steps at once. If you can add one Diet" foods into your daily 3. Don't widely vary the times you go been shown in study after study to per week, over a seven-week period, we meals.improve physical conditioning, bal-believe you'll find it is easier to stick Learn, practice and ance, coordination, blood pressure, with the steps you do try. After all, this employ pursed-lips cholesterol levels, arterial flexibility, isn't a sprint. Good health is a marathon breathing when under mood and sleep quality, and contributes pursuit, and the goal is to feel better for physical stress or anxiety. to healthy body mass (i.e., helps you the long haul, not just a few weeks,

Supplement your daily lose weight).right?diet with an antioxidant- Tai chi and Nordic Walking are two rich, high-potency multi- interesting and fun ways that have been nutrient. clinically shown to help people sustain Add a probiotic supple- exercise programs for longer periods of ment or probiotic foods to time. That's the reason for recommend- to bed each night. Your body achieves its your daily diet. ing these. best sleep when your daily pattern of

The combination of these steps will You see, the real goal is to get active. waking/sleeping is relatively consistent.help you break the unhealthy behavior To stir your heart, lungs, muscles, joints Based on our review of the latest cycle that contributes not only to feeling and bones to action – and to start off in a sleep-related research, here is our recipe unhealthy, but also to the development way that enhances your chances of for improving your sleep starting of chronic health conditions. engaging in physical activity for the tonight:

long haul. It's not about training to They may even help you gain the At least 8 hours before bedtime:summit Kilimanjaro, or setting the 50-confidence you need to tackle some of Exercise to enjoy much better sleep plus-age-group record in the Ironman the addictive behaviors you currently

than sedentary adults. triathlon. At least not when you're rely on to artificially feel better! Lack of exposure to direct sunlight is starting out. 8 hours before bedtime:Let's take a step back and talk about one of the most destructive health some common habits that get us into Consume your last caffeinated behaviors to develop in America over trouble. You see, there is a pretty beverage of the day. Caffeine disrupts the past 50 years.consistent set of decisions we make on a the sleep cycle. As a result, the amount of time we daily basis that not only contribute to us 4 hours before bedtime:are exposed to direct sunlight each day feeling poorly, but also open the door for is dramatically less than it was in the If you consume alcohol, limit your chronic diseases to invade our bodies. first half of the 20th century, and a consumption to two to three drinks, and

The cycle goes like this: We don't significant portion of Americans have if possible, don't consume your last consume enough quality nutrients, developed a vitamin D deficiency. drink within four hours of bedtime. which leads to a lack of energy. When So what's the big deal? When we 1 hour before bedtime:we feel tired we aren't as active and tend don't have enough vitamin D, the body Stop watching TV and/or surfing the to rest more frequently, typically lacks one of its most potent weapons to Internet. indoors. The combination of these fend off antagonistic molecules known actions leads to us feeling lethargic and About 30-60 minutesas free radicals that over time break irritable. To compensate, we perk before bedtime:down the body's immune response. In ourselves up by consuming stimulants short, vitamin D deficiency lowers our Consume a light snack (note: we did (e.g., caffeine, nicotine, sugar) during defenses and makes us more vulnerable not say eat a full meal).the day. In the evening, we may con- to sickness and disease. About 30-60 minutessume depressants (e.g., alcohol,

before bedtime:If you are concerned that you may be sleeping pills) to wind down or help vitamin D deficient, ask your doctor to If you are feeling stressed or anxious ourselves sleep. The problem with this order a vitamin profile blood test. If you about the day ahead, jot down a quick is that the cycle of stimulants and are deficient, your doctor can recom- list of the things you are worrying about depressants disrupts our sleep pattern. mend a dosage level that is appropriate and write down one sentence for each So in addition to feeling lethargic and for your particular situation. describing how you will accomplish irritable, we're now also sleep deprived!

these tasks. The act of clearing your mind of worries by writing them down

Well, you can break this cycle with and committing to one or two acts is the seven steps we have identified here. . remarkably effective in removing them

As one might imagine, breaking the from your active thoughts as you reliance on stimulants and depressants prepare to go to sleep.are the hardest nuts to crack given that

Step 1:

Step 2:

Step 3:

start slowly.Step 4:

Step 5:

Step 6:

Step 7:

Step 2: Exercise for fun (not pain) Sound familiar?with tai chi and Nordic Walking

Step 3 : Sleep hygiene - a good night's sleep is all about preparation

good night's sleep:

Sunlight: Go outside for at least 20-30 minutes each day, exposing multiple areas of skin to direct sunlight.

Practice tai chi for one hour a day two to three times per week, and "Nordic walk" for 40-60 minutes two to three times per week.

Some important "don'ts" for a

7 steps Healthier Happier lifeto a and

Mediterranean Diet foodsAntioxidant Multi-Nutrient

Probiotic SupplementBetter Sleep Hygiene

More outdoor timesupplement Vitamin DMore Vitamin D foods

Tai ChiNordic Walking

Pursed-lips breathing

Lack ofSleep

Lack ofActivity

Lack ofSunshine

Lack of VitalNutrients

HEALTH

Kevin P. DonoghueEditor, Peak Health Advocate

8

Zero hour: Engage in gentle stretch- Ÿ Ulcersing of your body to release muscle Ÿ Diarrheatension and engage in deep breathing

M o s t o f t e n t h e s e s e n s a-exercises tions/conditions occur because either

Zero hour: When it's time for bed, we are not clearing the food we consume sleep in a dark, cold room under bedding through our digestive systems quickly that is warm and allows you to easily enough, or because we have upset the add/shed layers. Darkness is key. Have you ever had a moment when proper balance of digestive bacteria in

you couldn't seem to catch your breath? our gastric tract.Zero hour: If you have been experi-Or felt like your heart was pounding encing insufficient sleep for an When you are suffering from one or way too fast? These are common extended period of time, set your alarm more of these conditions, you don't feel reactions to physical exertion and clock to go off 30 minutes earlier than very good, do you? You restrict your anxiety, and both are visceral, uncom-you normally wake up for about a week. activities, feel lethargic and irritable and

oxidative stress profile blood tests. The fortable sensations that can make you This method is effective in helping your struggle to sleep. Sound familiar? vitamin and antioxidant profile tests can feel like you're not in control of your body "reset" its internal sleep clock.

To relieve bloating and constipation, reveal if you have too much/too little of body.many people take laxatives. But key nutrients in your blood serum. The When exercising, such sensations honestly, laxatives are really just a oxidative stress profile identifies the can lead you to stop your workout (or Why the Mediterranean Diet? short-term band-aid. They do nothing to levels of certain proteins and other quit working out altogether). When Because numerous nutrition research address the core issues.molecules that are known to be either anxious, these physiological reactions studies show the antioxidant protective too high or too low in the presence of If you follow our recommendations can fuel panic. When getting ready for benefit of many foods regularly con- oxidative stress. With results in hand, for daily physical activity and substitut-

your doctor can help guide your ing foods common in Mediterranean s e l e c t i o n o f a n t i o x i d a n t Diets, you stand a much stronger chance supplementation. of making a meaningful difference in

moving food more quickly and less In fact, pro-oxidative cell damage is painfully through your gut.believed by many scientists to lie at the

core of nearly all major chronic health But this is only half of the solution to conditions. a healthy digestive system. The other

big problem most people with gastric The average American adult does not issues face is an imbalance of the consume enough antioxidants through bacteria in the intestines that assist in diet to offset the ravaging effects of pro-breaking down food and removing oxidative free radicals.unfriendly toxins. These "body

The stark reality is that a majority of friendly" bacteria are known as

Americans suffer from oxidative stress probiotics.

and the "apple and one-a-day to keep So a second valuable step you can trouble away" isn't working.

take to improve your digestive health is Don't believe us? Then do the

to add probiotic foods and/or a probiotic following: Sign onto the National

dietary supplement to your daily diet. Institute of Health's medical research

Don't discount how much of a d a t a b a s e c a l l e d P u b M e d sumed by people in the Mediterranean difference improving your digestive (http://www.ncbi.nlm.nih.gov/pubmed) region. Further, in studies examining the system performance can make in how and type in the keywords "oxidative health status of people consuming a you feel and live each day. A healthy stress." You will be presented with over traditional American, so called "cosmo- digestive system that has balanced 83,000 published research study politan diet" (e.g., lots of red meat, bacteria levels, and absorbs/processes abstracts accumulated over the past 50 blood-clotting fats/oils, blood pressure and clears food quickly can provide you years examining the role of oxidative raising sugars/salts, few fruits and with greater energy, help you sleep stress as a main or contributing cause to veggies) in comparison to people better, and improve your disposition – nearly every major disease.regularly consuming foods in the mentally, emotionally and physically!Mediterranean Diet, research results

For more information:show consistently less chronic disease www.peakhealthadvocate.comamong the latter group.

Good Probiotic Food Sources Ÿ Whole grain breads, pastas and cereals: Ÿ Yogurt (with live or active

bacteria cultures)Ÿ Olive oil: Ÿ SauerkrautŸ Fresh vegetables and fruits: Ÿ Miso soupŸ Nuts and seeds:

bed, they can prevent you from drifting Ÿ Gouda cheeseŸ Fish and seafood: off quickly.

Ÿ ButtermilkŸ WineIf you want to enjoy a healthier and Poor digestive health is a major Wine: Researchers have long happier 2011, then an additional step problem in America. Fueled by poor puzzled at how Mediterranean Diet you can take is to learn and practice a diets, the side effects of prescription followers, who eat fair amounts of proven breathing technique that can drugs, sedentary lifestyles and the carbohydrates and fats (albeit healthier help reduce the sensation of breathless- normal decline of digestive system fats and carbohydrates than are typically ness, improve your control over your efficiency associated with aging, many found in a cosmopolitan diet), have such breathing rhythm, and relax your mind. people suffer from uncomfortable low incidence of heart disease. When

gastric issues.examining the Mediterranean Diet in greater depth, researchers concluded Such issues run the gamut of:that a key reason for this paradox was Ÿ Infrequent bowel movementsthe regular consumption of red wine and

Ÿ P e r s i s t e n t g a s its polyphenols.buildup/bloating/constipation

Ask your doctor to order a vitamin Ÿ Irritable bowel syndromeprofile, antioxidant profile, and/or

exercise tolerance, manage stress and prepare for sleep

Step 4: Mediterranean Diet foods = healthier sources of energy

step 7: Better digestion - clearing a stable pathway

Step 6: Antioxidant supplementation to beat back oxidative stress

Step 5 : Pursed-lips breathing - a simple technique to improve

Practice pursed-lips breathing technique before, during and after heavy physical exertion, when you feel stressed/anxious and when preparing for bed.

Add probiotic foods and/or a probiotic supplement to your daily What Are the Core Elements of the diet.Mediterranean Diet?

Unsure Whether You Are Antioxidant Deficient?

DREAMS MONEYMARCH 2011

9

DREAMS MONEY MARCH 2011

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10

f you are a first time home buyer, it Banks are not the only option for pre- dreamy home. Need some guidance and is time to look for a suitable home approval. An experienced mortgage explanation, feel free to contact Perrii.I

or condo within your budget in a good agent can look after your interests If you are an investor, here's my location; sooner the better. During 2009 better, and never presume that direct analysis for you.and 2010, except for a brief period, most dealing with the banks are the only

over a long term than the bank's GIC 1. Although, there have been three of the time, real estate prices were option. For finding the best deal in the returns. What is long term? In my Canadian housing bubble bursts rising. Some people anticipated a US town a mortgage agent is your best bet, opinion, anything over 5 years is long in Vancouver and Toronto since type crisis in the real estate in Canada for the simple reason that is what he or term. Don't buy if you are hoping to flip 1980, the bullish economists and waited for the prices to fall. All she does for a living. They are more

predict 3-5% increase every year those people were disappointed. As experienced and well informed of the for the next few years. The shown elsewhere, prices continued to market. And well you do not have to pay bearish economists now predict a fee for their service; they get it from price stagnation, but not a U.S the banks.style crash.

3. You should have savings or other 2. Canadian Government is taking resources to meet the minimum 5

all possible steps to avoid a % down payment. You should housing bubble and will continue also have another 2 to 3 % of the to do everything under their purchase value to meet the control to avoid a housing closing costs and other expenses. bubble. Unlike the U.S., Canada

4. How much rent are you paying is dominated by few banks, and now? Owning a home will banks in their own interest have certainly cost you more. Don't tightened their lending to forget to take into account the household sector.property tax, hydro, water bills rise but the number of units that were 3. Immigration will continue to etc. into your calculation. How available for sale declined. drive housing construction as much more can you afford now?

well as demand. This alone is a If you are planning to buy a home in Honest answer to this question powerful factor for Toronto Real this market, here is my analysis for the will help you to determine the for a quick profit or if you are already Estate Market.first time home buyer and investor. size of loan that you can afford. In overextended. Real Estate investing is a

4. Many regions, including Toronto, For the first time home buyer, check addition, it will ensure that you better hedge against inflation and a are forecast to see better growth and satisfy yourself on the following live in your chosen home, as long better option than leaving your money in the next few years. To some aspects before proceeding further: as you desire, irrespective of the with the bank. But ensure that you can extent, fortunes of Canada and movement of prices.1. Stability of your job and regular manage, even if there is no positive cash Ontario, are tied up with the cash flow at least for the next 12 5. Since 1990, home prices have flow, when you rent out the property and f o r t u n e s o f t h e U . S . months. In turn, this will ensure generally been increasing in waiting for your property to appreciate.Unfortunately the U.S. economy that you will get approved for a Canada. Real Estate Investing requires is still struggling, but despite that mortgage. At the end of the day, when you buy a careful analysis of several factors. Canada can expect to see reason-

2. Better go for a pre-approval to home, you plan to live there for many To discuss your personal circum-ably good growth.know in advance how much you years; you are not planning to sell it in stances, call Perrii @

While no one can predict the future can anticipate by way of loan, and the near future. Then what? Be honest to 416 473 6100 Perrii is a Realtor. with certainty, we can reasonably expect with HomeLife/GTA Realty Inc.to avoid surprises at a later date. yourself and start your hunting for a real estate investing to be profitable

DREAMS MONEYMARCH 2011

Is it a good time to buy or invest in Condo or Home in Toronto?Perrii Muthuraman

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11

Nothing in life is to be feared; it is find his body until next morning. only to be understood,” said Marie Suddenly there is a lightning strike. with Curie. that light, he sees the “cobra”- which is

nothing more than a piece of old rope.A new born child knows no fear. As the child grows, it starts to experience The mind, because of fear, created a better” Each failure is a trial in an fear at one stage or another. Parents and snake; the rope had always been a rope, experiment and opportunity for growth. 4. Recall your DREAM or GOAL. others knowingly or unknowingly teach before and after the lightning. Are you Little fear makes you more con- Write that also on the paper.fear too. Then those fears run through equipped to differentiate between the scious of things and relationships; 5. Now phrase a question like this: life. Only very few people learn to fear of the unknown and the knowledge unlimited fear hurts your own happiness How to achieve my dream or goal control or overcome their fears and of truth?and relationships. taking into account the little fear I worries. Fears and worries are the main Learn from your own and others Little fear makes you to be more imagined? Again put this in obstacles to realize your dreams. mistakes; watch your own words, careful and alert whereas unlimited fear writing. Now strike out previous

Little fear may keep the person in thoughts and actions.makes you dull and inactive. steps. In other words, you good standing. It acts like a brake in a Why?mentally erased all your FEARS Little fear makes you dynamic but vehicle. But after a certain point, say and Worries. This is symbolic. For overcoming the fears and unlimited fear makes you static.unlimited or uncontrolled fear, does Just imagine. Only thing which worries, you should have right thoughts, more harm than any good. Let me Know your fears and know why you remains without striking is your right words and right actions. Based on explain with an example. fear. rephrased question asking for a those, you attract right people and

What is your fear?You want to undertake some new solution to achieve your dream or circumstances into your life. Then activity or project (or anything) for your goal. E.g the question at this stage Here are some of common fears: what? Fire the fear. Move forward in dream. Now you have a fear of failure. could be something like this: your life.Ÿ Fear of failure

How to find another job if my company announces layoff, while my family and I continue to maintain our present life style?

6. Think for some time. If you get the answer it is ok; if you don't get the answer, it is also ok.

Up to now what have you achieved?

You have effectively stopped the excuses for inaction. No longer, fear or worry hunts you. You analyzed it well and instructed your subconscious mind to find the required resources for your dream or goal. Trust your subconscious mind and entrust everything to it and continue with your routine for the time

Ÿ Fear of hunger being. Sooner or later in your mail box Everyone around you also tells you, (= conscious mind), you will find a reply why and how it is risky. You are con- Ÿ Fear of having no shelterletter for your question. You will be fused. I classify that initial fear as little

Ÿ Fear of going brokethrilled. That will be an eureka moment. fear. If that little fear makes you to

Ÿ Fear of losing the job Some of the great achievers and devise more risk management strategies scientists have followed this route and and contingent plans, that little fear has Ÿ Fear of being rejected by the found successes.done some good to you. On the other loved one

hand, if you imagine too much and Fear is a state of mind. Faith replaces Ÿ Fear of not belongingfinally abandon the project or idea, then fear. Have faith in yourself; and in your Ÿ Fear of deaththat type of fear is unlimited or uncon- ability to let things go. When fear

What is your fear? Write it down to trolled fear. You abandoned the project strikes, act positively. Lack of action control it.only to learn later on that some one else (e.g lack of above exercise) increases

carried out the very same idea(s) very Here are some recommendations to the fear. Get yourself surrounded by successfully and earned fame and handle your fear. inspiring people and trust their words. money. Generate hope for yourself. Replace 1. Write your FEAR and WORRIES

your fear with hope.In a race, if you fall, it is not a failure; on the paperbut if you fail to get up and continue to Before concluding, let me quote a 2. Analyze the reason for your fear. run then that is a real failure. In this story I read some time ago. It is a story Dig deep (ask questions to example, thinking of possibility of a fall about rope and snake.yourself) till you find out the root is a little fear; that's okay. Keep your risk

cause. Now write the reasons for A man is walking through a forest on management and contingent plans your fear a dark rainy night. He steps on a piece of ready. But if you avoid the race itself for

rope. He mentally determines that he 3. What could be the possible the fear (or possible occurrence) of has stepped on a venomous cobra. Now alternative out come? What falling, then that is what I call unlimited his mind creates all kinds of fears in a could be the worst possible or uncontrolled fear.moment. He imagines that the venom-situation that could happen to you

“Life is a series of experiments,” said ous cobra is going to strike him any (LITTLE FEAR). Now write Emerson, “the more you make the moment. He will die and no one will your little fear also.

MARCH 2011

By GNANIFire the Fear

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ggressive investments have the potential to 1. Limit aggressive holdings to 30% of your generate large returns compared to more overall portfolio. Because aggressive stocks expose A

conservative selections. But they can also give you you to a greater risk of loss, we recommend limiting bigger losses. As well, aggressive stocks tend to be your aggressive holdings to no more than, say, 30% of more highly leveraged and volatile than conservative your overall portfolio.stocks. Ultimately, the percentage of your portfolio that

But there are ways to earn large returns with less you should hold in either conservative or aggressive risk in the part of your portfolio you devote to aggres- investments depends on your personal circumstances sive investing. Here are 4 principles we use to select and risk tolerance. An investor with a longer time stocks to recommend in Stock Pickers Digest, our horizon or without the need for current income from a newsletter for aggressive investing: portfolio can invest more money in aggressive stocks.

But we think 30% is a good rule of thumb.

2. Focus on investment quality when looking for aggressive stocks with the potential for large returns. When we look for aggressive investments, we zero in on companies that have established a business and have at least some history of building revenue and cash flow. We also look for companies that stand to benefit as the economy continues to improve, and have proven management and long-term growth plans.

That's opposed to so-called concept stocks, many of which are start-ups or companies that look to profit from next week's or next year's investor fad. These companies can generate large returns in a good year. In the long run, though, they are likely to cost you money.

3. Hold a diverse aggressive portfolio. As with your more conservative holdings, we recommend that you cut your risk by spreading your aggressive holdings across the five main economic sectors (Manufacturing & Industry; Resources; Consumer; Finance; and Utilities). Compared to a conservative investor, you may choose to invest more heavily in Manufacturing and Resources, the two riskiest sectors. If so, take care to spread your money out across the many industries within each of these sectors. That way, you protect yourself from an unforeseeable industry downturn.

Downplay stocks in the broker/public-relations limelight. That limelight fosters bloated investor expectations. When stocks fail to live up to those expectations, brutal downturns follow.

Applying that aspect of our conservative philoso-phy to an aggressive portfolio leads us to stay out of most new issues. That's because most new issues come to market when it's a good time for the company or insiders to sell. That's rarely a good time for you to buy.

Pat McKeough is a portfolio manager and publisher of investment newsletters. For more information visit : www.tsinetwork.ca

12

MARCH 2011

of it, you may wind up selling just before the move begins.

efore you begin investing in you, compared to dealing through a Fewer trades, high-quality compa-the Canadian stock market, discounter. However, good brokers are nies are the keys to successful Canadian Byou'll have an important hard to find. Many good brokers stock market investing

choice to make: Do you use a discount eventually move into money manage- In the long run, the best way to cut broker and take advantage of the lower ment. Many bad brokers manage to pass arms. It's also easier to transfer money commissions is by sticking to high-commission rates? Or do you deal themselves off as good ones, at least between your bank account and your quality investments and making fewer through a traditional, full-service broker initially. brokerage account if you have both at transactions. This cuts commissions, and pay extra for service and possibly the same bank. Today, it's easier than ever to use a and it improves your tax deferral.some good stock research? discount broker. The Internet provides Commission rates are even cheaper For instance, suppose you buy an

Many investors have given up on lots of information on publicly traded if you use a discount broker's Internet investment at $10 and it goes to $20. As full-service stock brokers and do all companies, including corporate press trading facility. Unfortunately, low long as you hold on, you defer taxes — their dealings through discount brokers, releases, newspaper articles and commission rates sometimes lead the entire $20 keeps on producing with no regrets. But a lot depends on company web sites. investors to trade more than they should. dividends and capital gains for you. If you, and on the quality of brokers you They may assume they can't lose When looking for a discount broker, you sell, you'll have only $18 or so to have managed to find. because they can sell at the first sign of start with your bank reinvest, after capital-gains taxes and

trouble. Being quick to sell can cut your A good stock broker is worth paying commissions. The lost 10% of your Your bank is probably the best place losses, but that's not the same as making for, but hard to find capital can take an enormous bite out of to look for a discount broker. All of the money. And, if you stumble onto an your returns, if you let it compound for a A good broker is generally worth the “big five” Canadian banks have both investment that has a huge move ahead decade or two.higher commissions that he or she costs full-service and discount brokerage

Broker Annual FeeMinimum Account

Minimum trading

commission

Commission for large accounts

Fees for mutual funds

1 Questrade $4.95 $4.95 $9.95

RRSP $0 $1,000

TFSA $0 $1,000

2 Disnat $29 $9.99 $0 for most funds

RRSP $75 $1,000

TFSA $0 $0

3 HSBC Invest Direct $29 $9.98 $0

RRSP $50 ($15,000+ No Fee) $0

TFSA $0 $0

4 TD Waterhouse $29 $9.99 $0 to buy, $33.75 to sell

RRSP $100 ($25,000+ No fee) $0

TFSA $50 (Waived under certain conditions)

5 RBC Direct $28.95 $9.95 $0

RRSP $75 ($25,000+ No Fee) $0

TFSA $0 $0

6 Scotia Mcleod Direct Investing

$28.95 $14.95 $0

RRSP $100 ($25,000+ No Fee) $0

TFSA $0 $0

7 Scotia I *Trade $19.99 $9.99 ($50,000+ in

Assests)

$0

RRSP $0 $0

TFSA $0 $0

8 BMO Investor Line $29 $9.95 $0 for most, some for $35

RRSP $100 ($15,000+ No fee) $5,000

TFSA $50 (Fee waived when Assests @ Investor line, $100,000)

$0

9 Qtrade $19 $9.95 $0

RRSP $50 ($15,000+ No Fee) $1,000

TFSA $0 $1,000

10 TradeFreedom $9.95 $9.95 $37.95

RRSP $0 $1,000

TFSA $0 $1,000

11 CIBC Investors Edge $0 $28.95 $7.90 (Prepaid for 50 Trades)

$0

RRSP $100 ($25,000+ No fee)

TFSA Not Availble

Canadian Discount Brokerage Comparison

How to put your money in the Canadian stock marketInvestment advice from

Pat McKeough

4 keys to earning large returns in aggressive investing with less risk

Source : www.financialhighway.com

13

The bird with the two necks tortoise could not fly. So the geese thought of a plan, where by the tortoise Long time ago there lived a special would have to hold a piece of stick by its kind of bird which had two necks but mouth which would be carried by the shared a common stomach.two geese. The only condition was that the tortoise should not speak or it will fall from the stick to death. The tortoise agreed to be silent.

But on seeing this strange arrange-ment, people on the way started laugh-ing at the tortoise. Unable to control his anxiety, he spoke out "What are they laughing about?", and so he fell to his death. If he had kept quiet he could have One day, one of the heads found a jar saved his own life.of nectar, and on seeing this the other

Story moral: Destinyhead also wanted to taste the nectar but cannot be changedthe first neck refused to let it have it.

Enraged, the other neck soon found a jar The Three Fishesof poison and consumed it. The poison

There were three big fishes living in reached the common stomach and both

a lake who were very close friends. All the necks died.

three of them were very different from Story moral: You should one another. The first one believed in Share good things with others. fate. He thought things cannot be

changed and what had to happen will The mice and the elephantshappen no matter what. The second one Long time ago there lived a ferocious Long time ago there lived a group of was intelligent. He thought he knew lion in the forest. It was a greedy lion mice under a tree peacefully. One day a how to solve a problem if he had one, and started killing all the animals in the group of elephants in search of water with his intelligence. The third one was forest. Seeing this, the animals gathered came that way and destroyed the homes the wise one. It thought long and hard and decided to approach the lion with of the rats and as a result many of them before acting.the offer of one animal of each species were crushed to death. The king of rats

volunteering itself to be eaten by the lion So one day, the wise fish was happily decided to approach the elephant chief everyday. So every day it was the turn of playing around in the water, when it and request him to guide his herd one of the animals and in the end came over heard a fishermen talking to through another route.the rabbits' turn. The rabbits chose a old another. "Look at that one, what a big rabbit among them. The rabbit old was fish... This lake is full of big fishes like wise. It decided to take its own sweet this one. Let us come tomorrow and time to go to the Lion. The Lion was catch them."lioness brought the fox kid with the getting impatient on not seeing any same love as her own cubs. The three It hurriedly swam to it's friends to tell animal come by and swore to kill all young animals grew and played the news. "Let us get out of this lake animals the next day. together. One day the children saw an before those fishermen come back. A

elephant. The lion cubs wanted to fight The rabbit then went to the Lion by canal I know can take us to another the elephant. But the fox kid was sunset. The Lion was angry at him. But lake," the wise one said.frightened and asked them to run away. the wise rabbit was calm and slowly told The intelligent fish said, " I know So they ran away and went to the mother the Lion that it was not his fault. He told what to do if the fishermen come and lioness.the Lion that a group of rabbits were catch me."

coming to him for the day but on the The lion cubs told the story to her. way, an angry Lion attacked them all She laughed at the fox kid. At this the and ate all rabbits but himself. fox kid was offended and in a rage The elephant king agreed to this and Somehow he escaped to reach safely, challenged the lioness as to why she took another route to the water. So the the rabbit said. He said that the other called him a coward. The lioness lives of the rats were saved. One day a Lion was challenging the supremacy of replied, "What's wrong with eating an group of elephant-hunters came and the Lion. The Lion was naturally very elephant? You feel like that only trapped the group of elephants in huge enraged and asked to be taken to the because you're not a lion kid. You are the nets. Then the elephant king suddenly location of the other Lion. child of a fox. Your breed never eats remembered the king of the rats. He

elephants. If you cannot be bold please The wise rabbit agreed and led the summoned one of the elephants of his leave us and go live with your tribe." Lion towards a deep well filled with herd which had not been trapped to go The fox kid did not want to live there water. Then he showed the Lion his and contact the king of rats. The fish which believed in fate said, any longer and left for the forest.reflection in the water of the well. The "Whatever to happen will happen, I was On listening to the elephant, the rat Lion was furious and started growling Story moral: A coward will always born in this lake and I am not going to king took his entire group of mice and and naturally its image in the water, the remain a coward even if it is in leave it."they cut open the nets which trapped the other Lion, was also equally angry. Then company of the brave.

elephant herd. The elephants were The wise fish didn't want to risk its the Lion jumped into the water to attack The geese and the tortoisetotally set free. life, so he took the canal and went to the other Lion and kill it but lost its life Once upon a time there lived a pair of another lake.Story moral: Never under estimate in the well. Thus the wise rabbit saved

geese and a tortoise and all three were people by their appearance. the forest and all animals from the proud The fishermen came back the next great friends. One day they faced a huge Lion. morning and cast their net. The rest of The Foolish Lion anddrought and the lake in which they lived the two friends were caught in it along the clever rabbit Story moral: Intelligence wins was drying up. They decided to leave with many other fishes.over might.the lake and look for a new lake. But the

The intelligent fish thought of a way The fox reared by the lionto escape, it acted as if it were dead. The

Once upon a time there was a lion fishermen threw him along with other

and a lioness in a dense forest. They dead fish back into the lake. But the

gave birth to two cubs in due course of other fish which believed in fate was

time. The lion asked the lioness to stay at still jumping in the net and the fisher-

home and take care of the cubs. One day men struck him dead.

the lion could not hunt any animal but Story moral: Intelligence found a little fox on the way home. He wins over might.took it home as a gift for the lioness. The

MARCH 2011

Ancient Indian Stories for children and adultsFollowing the success of Zen king was worried about the heir to the

stories, we are pleased to publish the throne, as he knew that his sons were ancient Indian Panchatantra stories. incapable of governing. He was

desperate to find a good and Panchatantra are a collection of five knowledgable teacher for his sons who volumes of stories to instruct the would teach them the scriptures and different aspects of kinghood for make them knowledgeable in a short princes. The five volumes together span of time. His minister then pointed serve as a guide for prospective kings, towards a skilled pundit, Vishnu to help him on ruling, to choose fellow sharman. Vishnu sharman was old and friends, fellow ministers, and to have the king was worried as to how an old good conduct in daily life etc. These teacher could accomplish this as an collection of stories in Pancha tantra intelligent man takes more than twelve are a real boon for parents to help them years to grasp all the elements of guide their children towards values in scriptures. Then Vishnu sharman human life. All stories of Pancha tantra convinced the king that he would teach are accompanied by a moral.the princes about kingly conduct

T h e b a c k g r o u n d s t o r y o f through a series of stories, which Panchatantra goes as follows: would be more effective than the

Many ages ago in the kingdom of scriptures. Thus Vishnu sharman Mahilaropya, there lived a king who compiled the collection in five was ruling very ideally. He had three volumes termed as Pancha tantra. sons, who were not intelligent. The

14

approach The Taxpayers' Ombudsman.

2. What types of complaints will the Taxpayers' Ombudsman review?

The Taxpayers' Ombudsman can review service-related complaints about the way taxpayers have been treated by the CRA. For example, the Taxpayers' Ombudsman can review the following service-related complaints:

Ÿ mistakes;

Ÿ undue delays;

Ÿ poor or misleading information; or

Ÿ staff behaviour.Compiled by Sree KannuthuraiWhat type of outcome shall I he Canadian income tax system expect from the Taxpayers' Tis a self-assessment regime. Ombudsman?Taxpayers assess their tax liability by

filing a return with the CRA by the At the end of their review, the required filing deadline. A taxpayer who Taxpayers' Ombudsman will send you disagrees with CRA's assessment of a and the CRA the outcome of the review particular return may appeal the with recommendations, if any. As part of assessment. The appeal process starts their recommendations to the CRA, they when a taxpayer formally objects to the may suggest that the CRA:CRA assessment. Ÿ give further reasons for a

Here are some commonly asked decision;questions and answers. Ÿ correct a misunderstanding, 1. If there is a mistake or undue omission or oversight;delay, what are my options? Ÿ offer an apology;The first step is to give the CRA the Ÿ change a policy or procedure;

opportunity to resolve your complaint. Ÿ make changes to systems or The CRA has existing mechanisms that

applications;you can use to resolve service-related Ÿ review its service standards; orcomplaints, which are outlined in the

pamphlet RC4420, Information on CRA Ÿ consider further staff training.- Service Complaints If you are not

I have been charged interest or satisfied with the outcome, you can

penalties for late tax pay- pay the balance owing.ments…my options? Some slips or receipts are missing.

Can I wait beyond the deadline?If you have been charged interest or penalties for late tax payments caused No. Even if you're missing slips or by reasons out of your control you can receipts ensure that you file your tax apply to have them waived under return by the filing deadline. Otherwise Revenue Canada's "Fairness" doctrine. you will be assessed a late filing penalty.

I want to make changes to What are the penalties for gross previously filed personal tax negligence in reporting income on returns… your Canadian income tax return?To make changes to previously filed If you are grossly negligent in failing

personal tax returns, individuals should to report income on your Canadian not file an amended tax return. Canada income tax return you can be assessed a Revenue Agency (CRA) prefers that penalty equal to 50% of the tax owing.individual taxpayers who wish make changes to returns, use form T1-ADJ (Adjustment Request), available at local tax services offices or on the CRA Web site.

Deadline for filing taxes…..?What is Net Worth Assessment?

April 30 is the deadline for individ-If you fail to keep proper books and ual taxpayers (except for those who are

records CRA may do a net worth self employed) to file their T1 personal assessment, which looks at the increase Canadian income tax returns. The return in your assets over time and assesses should be filed even if there is an unpaid income tax on that increase. balance of taxes owing in order to avoid

I missed the deadline to file a the late filing penalty. June 15 is the Notice of Objection. ..My options?deadline to file Canadian personal

income tax returns for individuals with If you have missed the deadline to self employment income. file a Notice of Objection on your

If I am unable to pay the balance Notice of assessment, you can apply for owing, can I defer filing? an extension of time. However there are

strict time limits for the application and No. The deadline for filing personal there must have been a valid reason to Canadian income tax returns is April 30. have missed the deadline.If you have a balance owing and fail to

Sree Kannuthurai is helping people file, you will be charged a late filing to file their tax returns for the last penalty; so you should file your return 14 years.His phone: 647 268 2300by the due date even if you are unable to

MARCH 2011

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By Dinesh Chandrasekaran we dont have to enter the expense date. We can use this column to see how much

Ever wondered where your hard you are spending everyday (provided Go to www.docs.google.com. Once earned money goes? It comes from your we enter information as soon as possi-

you log in, click on the “forms” tab as hard work and then just disappears at the ble)shown below.end of the month, right? Luckily,

tracking your cash outflow is not so hard This will open a new window where ourself, or embed it in our igoogle home and made simpler with the information you can create a form. We will use this page.era. form to enter spending details.

Once we email it, we should have the How great would it be, if by a click of 2. Create a basic expenditure below email in our inbox.mouse you can open a form that can take tracker form

all the details of what you have spent We will now create a basic form with

and add the details to the end of a list, the following fields:

which you can analyze at your leisure - 1. How much you spent? 4. Analyze the tracked expensesto figure out your expenses by month,

by type etc. 2. What did you spent it on? A What is the use of tracking when you description for the spending are not analyzing. You can use built-in Well, you can do that by using

charts in Google docs to do some Google docs – spreadsheet forms with 4 3. Category of spending A list of analysis of the expenses. I did a bar chart simple steps. Doubt it? Take a look at categories from which you can choose

expense tracker form that we have The first step is to name the form:created here for you.

You will need a Google account for the below steps. They are available free of charge at www.google.com/ Next we will add two simple

3. Now lets start entering accounts/ questions as shown below, the process is expenses in our form1. First create a new very easy, just try it for yourself.Click on the URL provided in the Google docs – spreadsheet

email and go to the live form to start entering!

to show what is possible.

Take a test drive at the expense tracker form by accessing the one here:

Expense Tracker Form: Once you enter few expenses the http://bit.ly/h9aWfn

spreadsheet will look like this: List containing the expenses entered Finally we will save our expense See how Google adds the time stamp in the form: http://bit.ly/ifpJFY

tracking form. We can email it to to each expense. This is a good thing as

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16

and where you can be. in. He did the audacious thing of going to the CEO and I will mention two stories requesting a meeting. The from the author's life, that I CEO was intrigued by this found very inspiring, in the author had a Big Wheel he could ride Audacity: and met with him. The hope you will be inspired by it with and a bicycle he could grow into. what a beautiful word. author's father reached out to as well. The lady had a smile and a fluttering the CEO for help and heart that only benevolence breeds. This udacity is defined as “the I will provide some explained to him what he A was just because his father was auda-willingness to take bold risks, context here. The author is the wanted for his son. The CEO cious, and did not let pride or embarrass-esp. with confident or arrogant disre- son of a steel worker and a was impressed and eventually ment get in his way.gard for conventional thought or other cleaning lady. These events took place a arranged for the author to attend a restrictions”. It is the very behaviour few decades ago, at a time when things Of course being audacious isn't easy reputed private school where the CEO that is at the core of any revolution. we take for granted now didn't exist. and it is not always going to work. The was a board member. Things continued Breakthroughs are brought by challeng- tip the author gives is: the worst anyone on well, and the author graduated from When the author was younger, his ing existing norms, having a strong can say is no, and look at the other side – there to attend Yale University, worked father wanted to provide a better life for belief in something and taking action. what do you lose by not taking that in Fortune 500 companies, eventually his son. Working on the factory floor

action. For his father, he either asked or I have been reading a book called becoming CEO of many successful and being uneducated, he did know his family didn't have. That was enough “Never Eat Alone” by Keith Ferrazzi, companies. All this happened because what he should do and how he could to make it worth it.CEO of FerraziGreenLight – a sales and of one audacious action, defying ensure the best for his son's future. He

marketing company – whose clients convention, abandoning fear – going to knew one person who would. It was I feel pretty pumped to shed my include Fortune 500 companies. The the top man and asking for help.someone he had never met before, inhibitions, follow my heart, and do book is about building meaningful someone who he would never be able to what I want. I'll finish this column with a The second story is not on as grand a networks and relationships. One of the just talk to. It was his boss, not just any question to you, so what audacious thing scale. But this is a story from the chapters talks about audacity – the boss, but his boss' boss' boss' boss' boss are you going to do now.author's childhood as well. Once when power of it to transform what you can do – the CEO of the factory he was working the author and his father were driving

along, they noticed a broken Big Wheel tricycle in someone's trash. The father quickly stopped the car, walked up to the house, knocked on the door. A lady came out, and he told her “I spotted this Big Wheel in your trash. Do you mind if I take it? I think I can fix it. It would make me feel wonderful to give my son something like this”. The lady flushed and said “Of course”. She explained that her children had grown older and it had been years since the toy had been used, and added “You're welcome to the bicycle I have, too. It's nice enough that I just couldn't throw it away…”. Now the

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