How can I save money?

Alright here are some very easy and useful ways to save some money:

1. Eat breakfast at home. Try having raw oats with some fruit or raisins. Even add some peanuts or almonds and you will feel fuller longer. Typically a lunch out is $10 dollars a day, that's $50 a week and $200 a month.....do the math; 
2. If you are like me and many others, your office has its own coffee machine. Stop going out to get a coffee and have the office stuff! There is another $5-$20 a day saved; 
3. For dinner, start cooking larger meals. With the leftovers you will be saving money on going out and hopefully healthier; 
4. Try to walk to work (if you can) at least once a week; and,
5. Try to have a night in every weekend. Grab some popcorn or something and have a movie night at home.

Try some of these and you will be pleasantly surprised on how much money you save. 

How does one pass Ethics on CFA exam?

Happy studying the CFA material? I am sure you are. With ethics I always did the same process through each level.

• Read through the book within the first month of studying;
• Start doing the questions rigorously; 
• Memorize how the CFA explain how they answer; 
• Continue other studying, but what I use to to do was read the standards once a week; 
• I memorized the standards and could actually write them out; 
• In the last month before the exam re-read the book; and, 
• Review questions and any weak spots.

Is it cheaper to book a flight on a Tuesday or Monday?

I have always used the following strategy to find the cheapest flights:

• Never book on a Monday or weekend. Booking companies do charge more. So stay away from the Monday blues and the wishful thinking of weekend travel;
• I often book on a Tuesday and there is a bit of a discount; and,
• One thing you must do before searching is clear your history.  Travel website can track what you have been doing and you will be charged more. 

Are CFA exams difficult?

If you take these steps, the exams are not that difficult:

• Read and understand the material;
• Complete the back of the book questions (don't bother with Schweser questions);
• Complete at least 6 practice exams; 
• Take a week off before exam to go over all weak spots; and,
• Relax its only a test.

Should there be trailer fees on Mutual funds?

Trailer fees are fees that are paid by mutual fund companies to financial advisers to recommend their products. Does this line up? No as financial advisers have a fiduciary role in managing their clients money. Financial advisers should be recommending the most appropriate fund and get compensated on how well those funds do. Why should a client not make a return and the adviser keep getting paid?

Alright, well good news from Ontario. There is a plan to ban trailer fees!

http://www.theglobeandmail.com/report-on-business/mutual-fund-fee-ban-would-bring-low-cost-players-into-the-market-report/article33562819/

When investing in the stock market.....actually take your time to think!

Picture your last stock investment. How much time did you research your investment prior to pulling the trigger? If you spent more than an hour, well then you probably beat most individuals. 

So many investors watch / read cnbc.com, Bloomberg or BNN and blindly follow recommendations. Remember often these recommendations come from someone who has a vested interest in you investing. Do your research! This is your future we are talking about.  

Here are some simply ways to get a better grip on your investing ideas:

• These are public companies! Go on Sedar, Edgar or the companies website and download the latest financial statements. Review the information (if you don't understand either type into google or send me a message); 
• Look up recent news articles on these companies;
• Read the most recent MD&A; 
• Take more time thinking about the pros and cons then how long it takes you to decide what type of coffee you want at Starbucks; 
• Research online some typical KPIs (key performance indicators) for the industry and try and see if your potential investment is doing well); and, 
• Only invest an amount that if all goes bad it won't ruin your financial future. 

Happy Travels

ETF v. Mutual Fund

If you are asking yourself....should I invest into a Mutual Fund or an ETF? Well good luck! Aside form luck, let me put some information in front of you. The question of what to invest into often arises after a meeting with a financial adviser. Remember, when contemplating a financial investment, think about alternative investments that may achieve better results then what is being presented to you.

If you want an active investor (mutual fund buying and selling securities in an effort to beat the market) managing your money, then you are probably leaning towards a mutual fund; however, if you just want exposure to the market then go with an ETF.

Alright I am an advocate of ETF's and this is why:

1. Lower management fees (management fees for actively invested mutual funds can be higher than 2.0%!, even indexed mutual funds can be quite high); 
2. You can gain exposure through an indexed ETF that should closely mimic the return of the market; 
3. There are numerous studies that a mutual fund can not beat the market indefinitely. Further, passive investing often does better; and,
4. They are actively traded so you can sell your stock at anytime.

Happy Travels

How to Make Extra Money!

I have always thought about the prospect of earning a few extra dollars, especially in the current environment where salaries are just not keeping up with costs! Sifting through various ways I have come up with a couple ideas:

• If you are a CFA charterholder - post on craigslist for your services (teaching / work); 
• Become an extra worker; 
• Online surveys; and,
• Start a blog (not the easier, but doable).

Or could just get a part-time job on weekends. 

Vancouver Property Market - BC Assessment - 50% Increases!

Ah Vancouver, the place of high paying jobs and low cost housing. The affordability and lifestyle every other city envies. 

A constant theme for Vancouverites...well the opposite of my first sentence. 

If you are planning on selling your home anytime soon then the government issuance of the new BC Assessments will make you happy!

Values have skyrocketed, as per the Globe and Mail "Assessments for single-family detached houses jumped 30 per cent to 50 per cent in value from July 1, 2015, to July 1, 2016. For example, a typical detached home on a lot with a width of 33 feet (10 metres) on Vancouver’s west side soared 41 per cent in value, BC Assessment said Tuesday."

The recent BC Assessment was completed on July 1, 2016, right before the 15% foreign home buyers tax; therefore, if you don't like the value, next year it may be less. 

I am one of those lucky people who actually own my own place in Vancouver (my mortgage is huge). This was completed by being shrewd with my money and making some very good decisions. 

Okay, back to the BC Assessments. What does it all mean?

• Homeowners property tax will increase (property tax is calculated by the home value multiplied by the mill rate divided by 1000); therefore, property taxes may be going up. Which is great for government officials hoping to increase wages (for themselves);
• Homeowners may be able to sell their property at a higher value;
• People looking to buy a home, well this might not be the best news; and,
• Next year values may decline if the subsequent disappearance of Asian buyers continues due to the 15% foreign buyers tax.

Remember the point of taxes. To increase the number federal government workers and ensure politicians pensions are fully indexed. 

If you want some good reading:

• http://www.cbc.ca/news/canada/british-columbia/bc-assessment-top-properties-1.3919286;
• https://www.biv.com/article/2017/1/greater-vancouver-home-assessments-jump-20-50-2017/;
• http://www.newswire.ca/news-releases/greater-vancouver-region-2017-property-assessment-notices-in-the-mail-609528735.html; and,
• http://news.nationalpost.com/homes/lululemon-founders-coastal-home-tops-list-of-vancouvers-priciest-property-value-at-75-8-million.

If you want to take a loook at your neighbours values go to https://evaluebc.bcassessment.ca/ and put your address in and click the neighbouring properties tab. 

Happy travels

When to start CFA studying?

I often get asked when to start studying for the CFA exams.....

- January: start some light reading; 

- February: at this stage you should be through books 1 and 2;

- March: Finish books 3 and 4; 

- April: Finish book 6 and begin study plan; and,

- May: exams, exams exams