Team Xtreme Edmonton

02/16/2019

"A new study from WealthInsight found that financial services produced more multi-millionaires than any other industry in 2011."

A new study showed that financial services produced more multi-millionaires than any other industry in 2011.

01/02/2019

"She was “shocked” to see that the two RESPs were earning only modest investment returns despite the hefty fees charged by CEFI. She then discovered the possibility of investing within RESPs offered by banks and other financial institutions at much lower fees."

Paltry returns and sky-high fees are not what Oswaldo Castaneda and Maria Lopez-Araiza expected when signing up for a group RESP.

12/18/2018

A potential court ruling allowing side account investments with guaranteed rates of up to five per cent could incur huge costs and even ‘liquidation’ to two major insurers

12/15/2018

Oldie but a goodie

Suze Orman explains the difference between a Term and Life Insurance See more information at http://onpersonalfinance.com/insurance/why-you-should-be-insured...

12/14/2018

Things are little better in Toronto.

12/05/2018

"Bianca Williams needs chemotherapy, radiation and a bone marrow transplant. She’s already on a treatment regime that includes frequent blood transfusions.
But TD Bank’s insurance arm has denied her critical insurance claim, arguing her case isn’t serious enough to warrant payment — even though she explicitly bought $300,000 worth of coverage in case benefits were ever needed."

Bianca Williams needs chemotherapy, radiation and a bone marrow transplant, but TD Bank’s insurance arm has denied her critical insurance claim.

11/29/2018

"Many homebuyers, especially those buying their first home, haven’t done enough research to know what they’re getting into, said Thomas."

Consider life insurance instead

11/09/2018

"For many millennials, who came of age and entered the job market during the economic recession, the bad feelings are pervasive. Some 69% said they experienced anxiety because of their income, 67% said it was because of their level of savings and 53% said it was because of worry about losing their job"

Money anxiety affects their work and personal lives.

11/03/2018

"The study also took a deeper dive into the demographical differences when it comes to income expectations and found that millennials believe they need close to $166,622 to feel financially comfortable and need at least $299,854 to afford the lifestyle they desire."

According to a recent survey from Edward Jones, Canadian millennials believe they need close to $166,622 to feel financially comfortable.

10/21/2018

Watch this heated debate between Dave Ramsey and a whole life agent. Whole life insurance sucks and Russ, the whole life agent, does not agree with Dave. Wat...

10/21/2018

"It is a very simple but critical investment rule: 72 divided by the annual rate of return equals the number of years to double your money. I don’t know why it works, but it does and is a great way to approximate the value of a current investment at some point in the future."

What is the rule of 72? Hint: It has to do with the magical power of compounding.

10/21/2018

"That means some people now in their 60s, 70s and 80s, many on fixed incomes, are being told they need to pony up anywhere from a few hundred dollars to thousands of extra dollars each month for policies they purchased decades ago. Otherwise, the policy will eventually lapse or they’ll need to surrender it and take out whatever cash value is left (and probably owe taxes on that money). Either way, there would be no death-benefit payout."

Here's why some universal life insurance policyholders are seeing premiums soar and what you might want to do if you are one of them.