Quotes of the Day

Set up a host-beneficiary relationship. Company A (the host) agrees to let Company B (the beneficiary) deliver a sales message to people who are Company A's clients. Company A could even agree to encourage their clients to purchase a product or service from Company B and actually sing their praises. [2000] - Jay Abramham

Various Sources of Retirement Income in the Order in which They Are Best Engaged: Government Sources of Income (OAS -> CPP) -> Corporate Sources of Income (Employment Income -> Pensions -> Severance Packages) -> Personal Sources of Income (Taxable Distributions from Non-Registered Assets -> RRSPs -> RRIFs -> TFSA -> Home Equity) [2019] - Daryl Diamond

Having so many credit cards can be very damaging to your credit and you should keep it to five, max. Keep you credit card limit high but always keep the amount you owe low because your credit will be negatively impacted with balances that are close to your limit. [2013] - Julie Broad

Start by asking about the customer's objectives. Then ask about the current situation. Next, ask about level of satisfaction, also ask about future needs. Critical to your being able to realistically access the opportunity and close are questions about implementation, including budget, timeframe, compelling event driving the decision, decision-making process (including decision makers and influencers), competitors, relationships, and other related initiatives. [2003] - Linda Richardson

TFSAs will generally produce a better ultimate result versus an RRSP if your marginal tax rate at withdrawal is higher than your marginal tax rate when you contribute. TFSAs are almost always a better choice for lower-income investors (below $40,000 in annual income). RRSPs can produce better results for higher-income earners who expect their marginal tax rate at the time of withdrawal to be lower than at the time of contribution. Remember, a dollar in your RRSP is worth less than a dollar in your TFSA. To help 'equalize' the real after-tax value of an RRSP contribution with the value of a TFSA contribution, contribute your tax refund to your RRSP as well. Alternatively, put your tax refund toward your TFSA. [2018] - Larry Bates