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BEAT THE BANK. The Canadian Guide to Simply Successful Investing. Order on Amazon Now. Available on Amazon and Indigo. You can Beat the Bank! You work hard. You sacrifice to save. You risk your money in the market over your working lifetime and you trust your bank to treat you fairly.
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Bates’ inspiration for writing the book was a 2013 conversation with his sister Mary, in which she asked him to take a look at her investments. Mary was aware of a 2.3 per cent fee on those funds but had assumed that was 2.3 per cent of her annual investment gains. As Bates painfully explained, such fees refer to the total value of her investments ...
Of course, the more you save, the more you’ll have for retirement. But starting to save early gives you a big advantage. To fully grasp this, you need to understand the concept of compound interest, Bates writes. READ MORE: Nest-egg inequality explains why women need to save more than men Interest on your investments is calculated on the initial mo...
Ignorance also means too many people are far too afraid of the stock market. Higher returns will yield more money for your retirement. That seems obvious. But in order to earn decent returns, these days, you’ll have to take the plunge into the market. “All but the lowest-risk, lowest-return investments produce produce volatile rates of return in th...
Along with fees, taxes are going to eat into your retirement savings – if you let them. It’s important to look into whether a tax-free savings account (TFSA) or registered retirement savings plan (RRSP) is better for your financial situation, writes Bates. But even more important is saving into either one – or both – of these tax-sheltered investme...
Ignorance about the basics of how money works leads people to do things like holding too much of their savings in cash, underestimating the eroding power of inflation. Even with Canada’s muted average inflation rate of two per cent per year, stuffing $100 in your pillow will cost you, Bates notes. If you pulled it out 30 years later, that $100 woul...
Tag: beat the bank + ... February 22, 2021; 3; What questions should you ask your advisor and how can you get the... Latest Posts. ... Larry Bates ...
Sep 15, 2020 · Beat the Bank was published two years ago this month. Since then, an increasing number of Canadians have realized they haven’t been well served by the traditional, high cost investment industry (“Old Bay Street”).
Larry Bates, a former senior banker and investment industry insider turned investor advocate, reveals industry secrets and tactics that most hard-working, hard-saving Canadians need to be aware of to beat the banks at their own game.
Sep 16, 2018 · Larry Bates. 4.43. 1,112 ratings116 reviews. You work hard. You sacrifice to save. You risk your money in the market over your working lifetime and you trust your bank to treat you fairly. But your bank strips away half of your lifetime investment returns in fees.
Sep 14, 2021 · Larry Bates, a former broker, knows a thing or two about how the banks and investing work. He wrote a book about it and he joined us to talk about #BeatingTh...
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