Blog Posts by Liam Lahey

Whether you're thinking about selling or staying put, homeowners considering major renovation projects would be wise to devise a plan. Some renovations aren't worth the hassle, investment dollars and can actually hurt your chances of selling your home in the future.

Indeed, beauty is in the eye of the beholder so if you're thinking about a major overhaul to your home or property, do your homework first.

Frances Hinojosa, a mortgage expert at BMO Bank of Montreal in Toronto, says kitchen and bathrooms continue to be the best place to sink your renovation dollars, but she cautions home owners on curtailing renovations to fit their individual tastes.

"Of the value-busting renovations that people do it's usually stuff that not everyone will find value in or it's something that's out of the ordinary," she says. "Renovating the kitchen and bathrooms will see you get the most return on your money."

Avoid splashing out on lavish materials like imported marble or hand-painted wallpaper.  Most

Have you thought about what becomes of your online life after you've died? Of course you haven't. But as our daily lives are increasingly spent online, there's a growing concern to include one's digital assets in estate plans or wills.

A recently released study on the subject by the BMO Retirement Institute suggests estate plans need to evolve to include the accumulation of our online properties. For instance, the report states 86 per cent of Canadian Baby Boomers use at least one financial online tool and they are actively involved in online areas such as finance, social networking and data collections including photographs and music. However, Canadians have not been addressing these in their estate plans.

"Identify, inventory and value your digital assets. This will minimize the burden on your attorney/executor as they may not be aware of the existence of these assets. Doing so will also minimize the risk of losing assets that may have both financial and sentimental value," says

If there's one positive by-product of the 2008 financial crisis, it's the heightened sense that Canadians need to take personal responsibility for their financial future.

And experts agree: Financial literacy is a critical tool -- an essential life skill -- that Canadian youth need to learn. But it's a skill that is often learned too late. Canada's student debt level has reached a staggering $15 billion, according to the Canadian Federation of Students, with the average student graduating with a debt load of $27,747, according to TD Canada Trust.

"There seems to be very little financial literacy that's taking place today for our children," says Raymond Chun, senior vice-president, everyday banking and payments, TD Canada Trust. "That's the place people really need to start thinking about: educating our youth around financial literacy so they can start saving early for their post-secondary education."

And while Canucks are taking their finances more seriously, consumer debt in

For the second consecutive year, Canadian full service investor satisfaction has declined as investor relationships with advisors weakens, suggests the J.D. Power and Associates "2012 Canadian Full Service Investor Satisfaction Study". Though significant and there's certainly room for improvement, it's hardly a gloomy scenario overall.

General investor satisfaction with full service investment firms in Canada averages 720 (on a 1,000-point scale) declining 13 points from 2011, the report reads. In contrast, satisfaction among U.S. full service investors has risen for two consecutive years to 775 in 2012, widening the satisfaction gap between full service investors in Canada and the U.S. to 55 points from 39 points in 2011.

The difference between U.S. and Canada full service investors is in the relationship with their investment firm, explains Lubo Li, senior director of the financial services practice at J.D. Power & Associates in Toronto, but he notes investment performance is a key

It's a fine Canadian tradition that is celebrated multiple times a year: crossing the border to go shopping in the U.S.

And with higher duty-free exemptions for cross-border shoppers in place, Statistics Canada finds we're increasingly doing so and in record numbers. Overnight trips to the U.S. rose 7.5 per cent in June compared to May, to 1.9 million. That's the highest level since 1972, when the agency began keeping records on cross-border jaunts.

That in-turn led a Retail Council of Canada executive to remark that until Ottawa addresses the root causes of higher retail prices in Canada than in the U.S., such as higher tariffs, Canadian retailers remain at a distinct disadvantage. The RCC petitioned the federal government last June to eliminate import tariffs, overhaul the supply management system, and create more regulatory harmonization.

So what items do Canadian shoppers find drastically reduced when they cross the border?

• Milk: Cross-border shoppers in B.C. are flooding to

Perhaps building up a comfortable retirement has always been a tricky balancing act. But as the Baby Boomer generation inches towards the so-called golden years, determining how much cash one needs to live on in the short-term and how to make savings last for an unknown period of time, is fuelling the need for an effective annuity market with a diverse product range.

According to a newly released report by the C.D. Howe Institute, retiring baby boomers are driving a shift from retirement-fund accumulation to decumulation [sic].

In the "Annuities and Your Nest Egg: Reforms to Promote Optimal Annuitization of Retirement Capital" report, University of Calgary professor Norma Nielson states to enhance retirees' options, policy reforms should level the playing field for annuity products and promote market-driven variety of choice, thus ensuring retirees have at least some funds available to them for the long haul.

"As the bulge in the demographic goes through the system, we're going to move

Shocking, isn't it? Young Canadians are thinking little about their golden years and the importance of diligent financial preparation. Would that we, the wizened and wise, could be so unconcerned. And optimistic: according to new report, young Canadians believe they'll be fit to retire by age 60 though they're doing next to nil to prepare for it.

A just-released BMO retirement report takes a kick at that optimism. While young Canadians may be aware of the need for retirement planning, it says, they're putting their retirement at risk by not considering how much money they will need and are often delaying saving for retirement.

The report, dubbed "Broadening the approach to preparing for retirement", examined attitudes on retirement among young adults (between the ages of 18 and 34). Among the findings, only one in 10 young adults have thought a lot about how much money they will need to save for retirement and almost a third (27 per cent) admitted they have not started saving for

Most companies will say 'our people are our greatest resource'. With that in mind, perhaps zeroing in on a people-focused organization could give your investments a boost:

*Guidance Software Inc. provides digital forensics, cybersecurity, and e-discovery software solutions. The Pasadena, Calif.-based firm's second quarter earnings show record non-GAAP revenue of $31.5 million, up by 32 per cent year-over-year. Moreover, the company inked 100 new customers to its flagship EnCase enterprise software platform in 2Q, up by 54 per cent year-over-year. Going forward, Guidance raised its revenue expectations for the year to be in the range of $128 million to $133 million, a growth of 22 per cent to 27 per cent.

*Adidas AG, one of the world's most recognized sportswear brands, saw its second quarter earnings jump by 18 per cent and the company raised its full-year earnings forecast of between 15 per cent and 17 per cent (previously forecast to be between 12 per cent and 17 per cent). Being a