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Net worth

Knowing your net worth is an important part of financial planning and is generally tracked with a net worth statement. If you don't know where you are financially, how can you plan your journey? In simplest terms, your net worth is your assets minus your liabilities, at a specific moment in time. It is generally recommended that you update your net worth statement at least annually. Reviewing your net worth statement may help in identifying strengths and weaknesses in your financial situation.
==Why do it?==
Reasons for creating a net worth statement include:Bogleheads wiki, Net worth
* To check your progress towards financial goals
* To plan for changes in assets or liabilities
* To estimate how well dependent survivors would be able to live off their current inheritance if you were to die in the near future
* To determine the need for life and property insurance
* To serve as a reminder to make adjustments in insurance coverage or assets held
* To give an estimate of retirement savings progress
==Assets==
What do you own? Consider bank accounts, investment accounts, your residence, other real-estate that you might own, cash value of insurance or pensions. Perhaps also the market value of personal property (autos, furnishings, jewelry, ...).
==Liabilities==
What do you owe? Consider credit card balances, lines of credit, car loans, mortgages, student loans, taxes due.
==Updating==
Once you have created your net worth statement, don't just leave it to gather dust. It should be part of your annual review process to update your net worth statement to reflect changes that have occurred. Some values will be easy to obtain, such as bank account balances, value of investments, outstanding balances on credit cards and mortgages. Others may be more difficult, such as the value of a residence. Use the best guestimate available, such as your most recent property tax assessment.
==Tracking the details==
Your net worth statement can also serve the purpose to tracking the location of assets and liabilities and could greatly assist your executor when you die, or your representative should you become incapacitated.
==Online tools==
Most Canadian banks and financial institutions offer online tools that can help pull together a simple net worth statement. The following list is intended to provide a sample of what is available, you should likely check the website of your financial institution to see if they have a tool that might be useful for you. 
*getsmarteraboutmoney.ca - Net Worth Calculator
*L'autorité des marchés financiers - Balance sheet (net worth calculator)
*TD - Personal Net Worth Calculator
*RBC Royal Bank - RRSP Net Worth Calculator
==See also==
* Cash management
* Emergency fund
* Financial Planning
==Further reading==
* 
* 
* 
==References==
==External links==
*Financial Planning Form: Net Worth Statement
Category:Financial planning
Category:Personal finance
Non-registered account types

Non-registered accounts, also known as taxable investment accounts, are not registered with the federal government of Canada. They do not have limits to contributions or withdrawals, which makes them flexible. Withdrawals from non-registered accounts are not taxed. However earned income (interest, dividends) and realized capital gains must be included as taxable income each year.Ontario Securities Commission, Investors and tax, updated September 26, 2023, viewed October 26, 2023.
The following are the two main non-registered account types in a discount brokerage context:
* Cash account
* Margin account
Non-registered accounts are often opened and used by investors once they have reached contribution limits for their registered accounts. Non-registered brokerage accounts can also be used to store savings such as emergency funds.Robb Engen, What Is A Non-Registered Account And How Does It Work?, August 28, 2022, viewed October 26, 2023.
Non-registered investment accounts are also offered by mutual fund companies, and other investment dealers.
==See also==
* Canadian account types
* Prioritizing investments
* Registered account types
* Tax-efficient investing
==References==
Category:Account types
Outline for young savers and investors

The following outline is provided as an overview of and topical guide for young savers and investors. 
Young savers and investors (or beginning savers and investors) generally are beginning their financial journey are focused on the basics of establishing themselves and planning their future. This article is intended to help a reader learn about a subject quickly, by showing what topics it includes, and how those topics are related to each other.
==The financial life cyle==
Young savers and investors are at the first stage of the financial life cycle, within the early accumulation phase.
==Banking, budgeting and emergency fund==
*Open a low-cost bank account to avoid high banking costs
*Create a budget to stay on top of your spending
*Establish an emergency fund to prepare for unforeseen events
==Credit and managing debt==
*Learn to manage debt and make smart credit choices
*Learn about credit reports and credit ratings to maintain a good credit record and protect yourself from fraud
*Pay off student loans
*Apply for and manage one or more credit cards
==Work-related financial choices==
*Start a job and deal with benefit choices including pension plan contributions or Group retirement plans
*Investigate employee benefits
==Housing-related choices==
*Decide if you want to own or rent a dwelling
*Possibly manage a mortgage
==Insurance==
*Learn about the types and general principles of insurance
*If becoming a home owner, look a home insurance, mortgage insurance and possibly title insurance
*If renting a house or an apartment, you need tenant insurance
==Starting to invest==
*Learn about compound interest and the Importance of saving early
*If also paying back loans, consider Paying down loans versus investing
*Create a financial plan and get started on investing
*Decide if you want to start with a Tax-Free Savings Account (TFSA) or a Registered Retirement Savings Plan (RRSP) (see also TFSAs versus RRSPs)
*Learn about Portfolio design and construction
*Look at simple index portfolios or asset allocation ETFs for the simplest do-it-yourself (DIY) options
==What's next?==
At some point, spouses and children may enter the equation and bring other financial considerations into the mix, including life insurance and perhaps Registered Education Savings Plans (RESPs).
==See also==
*Asking portfolio questions 
*Outline for mid-life investors
*Outline for pre-retirement investors
*Outline for investors in early retirement
*Outline for investors in late retirement
==References==
==Further reading==
* , a short, inexpensive e-booklet aimed at getting twenty-somethings with their first 401(k) started on the path to retirement saving and investing. Can easily be applied to Canadian millennials.
* 
==External links==
* GetSmarterAboutMoney.ca, Your first job | Getting started 
* Investor Academy, Understanding the 5 Financial Stages of Life (warning: some US content)
* RetireHappy.ca, Financial Stages of Life
* Bogleheads.org, "Starting Out" Life Stage Chapter Master Thread
Category:Outlines
Category:Personal finance
Pension adjustment

A pension adjustment (PA) is a calculated value for employers who participate in a registered pension plan (RPP) or deferred profit sharing plan (DPSP). It is reported on an employee's T4 slip, in box 52.Canada Revenue Agency, Line 206 – Pension adjustment, viewed January 10, 2016. Generally, the PA reduces your Registered Retirement Savings Plan (RRSP) deduction limit for the following year.
==Basic concept==
Tax‑assisted retirement savings arrangements are designed and administered to provide income to individuals at retirement. Using these arrangements, Canadians can get tax assistance to build their retirement savings. The system is based on an overall limit of 18% of an individual's earned income to a dollar maximum. The overall limit applies to total retirement savings under employer‑sponsored registered pension plans (RPPs), deferred profit sharing plans (DPSPs), and RRSPs.Canada Revenue Agency, Pension Adjustment Guide, viewed January 10, 2016.
Each DPSP and each provision of an RPP produce a pension credit for the member. The pension credit is a measure of the value of the benefit earned or accrued during the calendar year. The method you use to calculate pension credits depends on the type of plan and provision. A member's pension adjustment (PA) is the total of that member's pension credits from all plans in which the member's employer participates in the year, excluding RRSPs. The PA reduces the maximum amount that a member can deduct for contributions to an RRSP for the following year. The first year in which PAs had to be calculated was 1990. There are no PAs for earlier years. The first year that RRSP deduction room was reduced by PAs was 1991. 
==Pension adjustment reversal==
A pension adjustment reversal (PAR) is an amount that cancels a portion or all previous pension adjustments and increases the RRSP deduction limit. This applies to a member of a registered pension plan or deferred profit sharing plan who terminates employment after 1996 and transfers benefits out of the plan. 
The PAR is equal to the sum of the pension adjustments for each year of participation since 1990 in the registered pension plan, less lump sum payments in respect of pension benefits earned since 1990 transferred to a locked-in RRSP.RetirementAdvisor.ca, RRSP & Retirement Savings Rules, viewed January 10, 2016.
 
==See also==
* Group retirement plan
==References==
==External links==
* RC4137 - Pension Adjustment Reversal Guide, Canada Revenue Agency
* Area 52: Know your pension adjustments | Advisor.ca
Category:Tax-advantaged savings plans
Portal:Main Page/Categories

This page should be edited directly for changing main page links.
Getting started
Personal finance: Budgeting • Credit card • Emergency fund • Guaranteed Investment Certificate • High-interest savings accounts • Low cost banking • Tax-Free Savings Account
Financial management: Cash flow financial planning software • Cash management • Cross-border and expatriate issues • High-interest savings account • Short term cash returns
Financial planning:Creating a financial plan • Estate planning • Financial advisor • Insurance • Mortgages • Tax planning • Tax-efficient investing
Investment management:Asset classes • Importance of saving early • Investment styles • Portfolio design and construction ∙ Rebalancing • Risk and return
Retirement planning: Annuities • Canadian retirement software & calculators • Government retirement benefits • Pension plans • Preparing to retire • Retirement living • Tax deferred and tax free savings plans
Other popular articles: Asset allocation ETF • Canadian-US investing differences • Norbert's gambit • Real Return Bonds • Simple index portfolios
Reference material:Common acronyms • Resources and links • Recommended reading'''
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Portfolio

In finance, a portfolio is a collection of investments held by an investment company, hedge fund, financial institution or individual. A portfolio may contain a number of asset classes, the main ones being cash, fixed income and equities. 
Within these asset classes, the retail investor can purchase individual securities such as common shares or bonds, or opt for products that package many such securities together such as mutual funds (including index funds) and exchange-traded funds (ETFs). 
Portfolios are best constructed based on asset allocation principles. A portfolio can be seen as the contents of a specific investment account, but if an individual investor controls several such accounts, it is best to view all the accounts together as a single portfolio.
==See also==
* Portfolio design and construction
* Simple index portfolios
* Complex portfolios
==References==
Category:Glossary
President's Choice Financial

President's Choice Financial (PCF) was a banking, credit card and insurance service provided by Loblaw Companies Limited. Several different organizations provided individual financial services under the President's Choice Financial umbrella:
* Personal banking products were provided by the direct banking division of CIBC. 
* MasterCard services were provided by President's Choice Bank, a wholly owned subsidiary of Loblaw Companies.
* Insurance was provided by two Loblaw subsidiaries (PC Financial Insurance Brokers Inc. and PC Financial Insurance Agency Inc).
Products offered varied by Canadian province.
In 2017, the banking portion became Simplii Financial, a division of CIBCCIBC launches new direct banking brand through Simplii Financial, press release, August 16, 2017, viewed December 20, 2017, who offers a range of products including chequing accounts, savings accounts, mortgages, GICs, and mutual funds. Meanwhile the credits cards are still offered by PC Financial.
==Deposit insurance on banking products==
For the purposes of Canada Deposit Insurance Corporation (CDIC) coverage, PCF bank accounts were combined with any CIBC accounts for the purposes of CDIC coverage limits.CIBC, CDIC Deposit Insurance Information, viewed December 20, 2015. This was because of the operating structure of PCF, with banking services being provided by CIBC. The same is now true of Simplii accounts.
==See also==
* High-interest savings account
==References==
Category:Cash management
Price to book ratio

A price to book ratio, or price-to-book ratio, often expressed as a P/B ratio, is used to compare a company's current market price to its book value. It is calculated by dividing the company's current share price by its book value per share.
One way to understand book value is as follows: when a business is liquidated, the book value is what may be left over for the owners after all the debts are paid. Paying only a P/B of 1 means the investor will get all his investment back, assuming assets can be resold at their book value. 
Shares of capital intensive industries trade at lower P/B ratios because they generate lower earnings per dollar of assets. Business depending on human capital will generate higher earnings per dollar of assets, so will trade at higher P/B ratios. Value stocks tend to have low P/B ratios, and growth stocks high ones.
==See also==
*Price to earnings ratio (P/E ratio)
==References==
==External links==
*Investopedia, Price-To-Book Ratio (P/B Ratio) Definition
*Wikipedia: P/B ratio
Category:Glossary
Price to earnings ratio

A price to earnings ratio, or price/earnings ratio, often expressed as a P/E ratio, is a standard fundamental metric used to value stocks. It is defined as the last closing share price divided by the earnings per share based on the trailing 4 quarters of earnings.
The most common version uses net income for the last four quarters available, divided by the weighted average number of common shares in issue during the period.
As an example, if stock A is trading at $24 and the earnings per share for the past year (previous 4 quarters) is $3, then stock A has a P/E ratio of 24/3 or 8. Put another way, the purchaser of the stock is paying $8 for every dollar of earnings.
P/E ratio is useful for comparing valuation of peer companies in similar sector or group. Different industries have different average P/E values, or 'multiple'. Value stocks tend to have low multiples, and growth stocks high ones.
The P/E of a company share is the result of the collective perception of the market as to how risky the company is and what its earnings growth prospects are in relation to that of other companies. 
P/E can also be calculated for a stock market index, and gives an idea whether the market is cheap or expensive, although P/E depends on a number of factors.
The earnings yield is the reciprocal of the P/E ratio.
==See also==
* Price to book ratio (P/B ratio)
==References==
==External links==
*Investopedia, Price-to-Earnings Ratio – P/E Ratio Definition, Formula and Examples
*Wikipedia: Price–earnings ratio
Category:Glossary
Principal residence exception

The principal residence exemption is an income tax benefit that generally provides you an exemption from tax on the capital gain realised when you sell the property that is your principal residence. Generally, the exemption applies for each year the property is designated as your principal residence.
If you sold or if you were considered to have sold your property and it was your principal residence, you have to report the sale and designate the property on Schedule 3, Capital Gains (or Losses) of your income tax return the following year. 
== What is a principle residence? ==
Your principal residence can be any of the following types of housing units:
* a house
* a cottage
* a condominium
* an apartment in an apartment building
* an apartment in a duplex
* a trailer, mobile home, or houseboat
A property has to qualify to be a principal residence.
== See also ==
== References ==
== Further reading ==
* 
== External links ==
* Income Tax Folio S1-F3-C2, Principle Residence
* Principal Residence Exemption (PRE), TaxTips.ca
* 4 common questions about the CRA’s principal residence exemption, Chartered Professional Accountants of Canada (CPA Canada)
Category:Tax planning
Public Trustee

Each province in Canada has a Public Trustee, which oversees the finances of those who cannot act for themselves and where no else can act, such as a deceased person, intestate and with no known relatives. The Public Trustee acts as an executor of last resort.
The law generally empowers Public Trustees to oversee the financial affairs of minors as well.
* Alberta: Office of the Public Guardian and Trustee
* British Columbia: Public Guardian and Trustee of British Columbia
* Manitoba: Public Guardian and Trustee of Manitoba
* New Brunswick: Office of the Public Trustee
* Newfoundland: Office of the Public Trustee
* Nova Scotia: Public Trustee
* Ontario: Office of the Public Guardian and Trustee
* Prince Edward Island: Public Trustee
* Québec: Curateur public du Québec
* Saskatchewan: Public Guardian and Trustee
==See also==
*Estate planning
*Settling an estate
Category:Estate planning
Category:Lists
Return of capital

Return of capital (ROC) is defined as a distribution received from an investment which is not classified as income but rather as a return of a portion of your investment (capital). These distributions are not taxable. 
For retail investors, you may receive a ROC from Income Trusts, Real Estate Investment Trusts (REITs) and mutual funds. 
The ROC amount must be used in calculating the adjusted cost base (ACB) of the security, which must be reduced by the amount of the ROC. This results in the capital gain being greater when the investment is eventually sold. Return of capital cannot reduce ACB below zero.
The ROC amount will be reported to you in Box 42, “Amount resulting in cost base adjustment” of your T3 tax slipJamie Golombek, Mutual Obligations – Tax Tips for Mutual Fund Investors, April 28, 2011. Viewed February 13, 2014.Canada Revenue Agency, T3 - Statement of Trust Income Allocations and Designations (slip), viewed February 13, 2014.
==See also==
*Capital gain
*Capital loss
*Dividend
==References==
==Further reading==
* 
==External links==
* Jamie Golombek, FORUM Magazine, 2006-10-01, Return of Capital
Category:Glossary
Category:Tax planning
Category:Investment management
Savings account

A savings account is an account at a financial institution used for regular savings or temporarily parking money. It usually pays more interest than a chequing account. Usually financial institutions have a no-fee option for this type of account, some have a "high" interest type as well. Savings accounts are typically covered by deposit insurance.
When choosing a savings account, look for:Financial Consumer Agency of Canada (FCAC), Savings accounts, updated March 6, 2018, viewed November 25, 2021.
* What is the interest rate offered?
* Is there a minimum balance or a minimum periodic deposit to earn that interest?
* Are there any transaction fees?
The savings accounts offered by your regular bank or credit union are convenient, but may offer very low interest rates. If parking substantial sums of money, for example for an emergency fund, a downpayment on a property, etc., also consider High-interest savings accounts (HISAs), in particular from online banks, which may offer better rates.
==See also==
*Low cost banking
*Guaranteed Investment Certificate
*Tax Free Savings Account
==References==
==External links==
*Choosing a savings account | Bank accounts | Investor Education Fund
Category:Glossary
Category:Account types
Category:Cash management
Category:Financial management
Savings bonds

A savings bond is a loan to a government that is secured by the general credit and taxation powers of the government. They are usually offered for sale at certain times of the year directly from the issuing government (or agency). The Bank of Canada offered Canada Savings Bonds up to November 2017, and only one province still offers them.
==Canada Savings Bonds==
In the 2017 federal budget, the Government of Canada announced it would discontinue the sale of Canada Savings Bonds (CSBs) and Canada Premium Bonds (CPBs) in November 2017.Government of Canada, Important announcement about the Canada Savings Bonds Program, March 22, 2017, viewed December 4, 2018. The government cited the "overall decline in sales, the access to alternative investments vehicles for consumers and the administration and management costs of the program" as causes for the decision. 
As of December 2021, all Canada Savings Bonds and Canada Premium Bonds have reached maturity and stopped earning interest.Government of Canada, Canada Savings Bonds Program, viewed June 4, 2023.
==Provincial savings bonds==
Province 	Main Site
Alberta 	Alberta Capital Bonds and Alberta Savings Certificates
* The last offering of Alberta Capital Bonds was in 2010
British Columbia 	BC Savings Bonds
* As of October 15, 2007, all outstanding B.C. Savings Bonds have matured.British Columbia Ministry of Finance, viewed July 26, 2012.
Manitoba 	Manitoba Builder Bonds and Hydro Bonds
* As of June 15, 2018, all Manitoba HydroBonds have matured.Manitoba Hydro, Manitoba HydroBonds news, viewed December 4, 2018.
New Brunswick 	Not offered
Newfoundland & Labrador	Not offered
Nova Scotia 	Not offered
Ontario 	Ontario Savings Bonds
*Last offered in 2018
Prince Edwards Island 	Not offered
Quebec 	Épargne Placements Québec
Saskatchewan 	Saskatchewan Savings Bonds
* No longer offeredWikipedia, Saskatchewan Savings Bond
==Alternatives==
There are many alternatives to savings bonds, depending on when you want access to the money. This includes:
*Conventional bonds
*Guaranteed Investment Certificates
*High-interest savings accounts
*Money market funds
==References==
==External links==
*Canada Savings Bonds » About Canada Savings Bonds
Category:Fixed income
Category:Asset classes
Category:Investment management