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Personal Finance & Job Transfers

These days, having a career presents many new rewards and far more challenges than it ever used to. What we used to take for granted, including our work location, has changed dramatically as companies continue to grow and even go global.

This can be great for a business and its bottom line, but really tough on the employees within it. Because we never know exactly what the future holds, you may find yourself facing a job transfer at some point along your career path.

Canadian Market Recovery After Financial Crises

During financial crises, stock prices suffer. However, they typically recover over time.

This chart illustrate the cumulative returns of a balanced (60% stock/40% bond) portfolio after five historical financial crises. In the short term, uncertainty from such external shocks can create sudden drops in value. For example, the portfolio posted a negative return one month after the October 1987 stock-market crash. Over a longer period of time, however, returns were much more attractive, and investors who stayed the course reaped considerable rewards.

Mortgage Rules Tightened

In an effort to crack down on speculators and to discourage people from taking on too much debt, Ottawa is tightening mortgage rules again. These new rules are expected to take effect April 19, 2010.

There is growing concern that the housing market in Canada may be overheating. Finance Minister Jim Flaherty stresses that while there is no bubble in Canada's real estate market now, these new mortgage measures are a proactive step to help prevent a housing bubble from occurring.

Tax-Free Savings Plans

When Sophia first heard the term Tax-Free Savings Account (TFSA), the first thing that came to her mind was a low- or no-interest account at a bank. She soon learned that just about every investment option available to her in an RRSP is also available to her in a TFSA plan.

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New Years Financial Resolutions

Jack and Diane want to improve their financial situation and feel that making financial New Years resolutions and implementing them is a good start. To help identify their priorities, they made the following list:

Set Objectives - Goal setting is the foundation of achieving financial success. If they write down their goals, it will help Jack and Diane clarify them and establish their personal and financial priorities.

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