Modern Money Inc.

Are you receiving dividends? If so, consider enrolling in DRIP if your brokerage offers it as DRIP allows your to maximize the compounding effect! With DRIP, every time a company you own stock in pays a dividend, your investment brokerage will automatically purchase more shares of the company using your dividend payment, with no commission cost to you.

How much are you investing each month? Starting early and staying consistent is an important recipe for long term success. With a 40 year investment horizon, you can achieve financial freedom with a simple and disciplined approach. To learn more about personal finance and investing, click the link in our bio.

Do you own shares in any of Canada’s big 5 bank stocks? These are the 5 largest banks in Canada by market cap. These big 5 banks are often regarded as sound investments due to their consistent and strong dividend yield and the overall importance of the financial sector to our economy here in Canada. To learn more about personal finance, investing and everything finance, click the link in our bio!

Did you know that if you sold a stock, rental property or perhaps a piece of art for a profit you might have to pay capital gains? A capital gain is an increase in the value of a capital asset from the original purchase price. A capital gain is considered to be "realized" (often referred to as triggered) when the asset is sold.... A capital gain, once realized/triggered, is taxable. In Canada, 50% of the value of the capital gain is taxable. You do not pay/owe taxes on a capital gain that is unrealized (i.e., it hasn't been sold yet). To learn more about personal finance and investing, click the link in our bio.

Graduating this spring? Finding your passion and preparing for post-graduation are two important considerations when looking to secure yourself a great job after university. Graduates often overlook easy-to-do tasks that can assist them with landing a job. It is important to get ahead and plan for life after graduation early. To learn some key tips on interview prep and applying for jobs from Mikaela Morelli, Associate Engineer at Emergent BioSolutions, click the link in our bio!

Preparing for a virtual interview? Modern Money has you covered. Use these tips to handle your interview with confidence:1. Research the organization and the position. The more you know about the position and the organization, the more confident you’ll be in the interview and you can ask more targeted and insightful questions. 2. Practice, practice, practice! Meet with a friend on Zoom and do a couple mock interviews. Practice the introduction, the full interview and t...he ending. Ask your friend to ask difficult and substantive questions. This will make the actual interview feel like a breeze!3. Send a follow-up e-mail after the interview. Reference something specific from the interview and thank them for their time (if you had multiple interviewers, send individual e-mails). This helps demonstrate that you’re interested in the role and, if they’re interviewing multiple people, the follow-up will put you top of mind for the interviewers. For more information on preparing for a virtual interview, click the link in our bio. See more

You’ve probably heard the term balanced portfolio, but what does that mean? A balanced portfolio is an investment portfolio that holds a variety of investments that fit your specific goals and risk tolerance. Rebalancing your portfolio is the act of periodically reviewing the asset allocation in your portfolio and, if the balance is off from your original intention, then investments are reallocated to ensure your portfolio is restored to your original goal. To learn more, click the link in our bio to read the insightful article from @jessica.keus.wealth

Pokémon cards have drawn a lot of attention lately from the celebrity interest and the record sales that we’ve been seeing. An example of this is a Charizard card that sold for in excess of $300,000 USD at the end of 2020! Before you dig through your closet to find your old cards or jump on eBay to start making offers, check out our recent article to better understand the allure of investing in Pokémon cards as an alternative investment. Link in bio!

Ever look at your receipt and wonder why you’re being charged PST, GST or HST? These are commonly referred to as sales tax, which is a consumption tax imposed by the government (provincial government for PST and federal government for GST) on the sale of most goods and services. Surprised by any of these numbers? Let us know in the comments below!

A credit score is a basic and very fundamental part of our banking and financial system. In Canada, your credit score generally ranges between 300-900 and your score depicts your creditworthiness. Creditworthiness is essentially an answer to this question: should a bank be willing to lend money to you? Understanding the basics of a credit score and what factors might impact it are important considerations for everyone especially young professionals. To learn more about credit scores, click the link in our bio.