Canada markets closed

  • S&P/TSX

    17,944.88
    +35.85 (+0.20%)
     

  • S&P 500

    3,768.25
    -27.29 (-0.72%)
     

  • DOW

    30,814.26
    -177.24 (-0.57%)
     

  • CAD/USD

    0.7859
    +0.0014 (+0.17%)
     

  • CRUDE OIL

    52.37
    +0.01 (+0.02%)
     

  • BTC-CAD

    46,621.70
    -474.26 (-1.01%)
     

  • CMC Crypto 200

    718.93
    -16.21 (-2.20%)
     

  • GOLD FUTURES

    1,837.70
    +7.80 (+0.43%)
     

  • RUSSELL 2000

    2,123.20
    -32.15 (-1.49%)
     

  • 10-Yr Bond

    1.0970
    -0.0320 (-2.83%)
     

  • NASDAQ futures

    12,941.75
    +139.50 (+1.09%)
     

  • VOLATILITY

    24.34
    +1.09 (+4.69%)
     

  • FTSE

    6,720.65
    -15.06 (-0.22%)
     

  • NIKKEI 225

    28,603.85
    +361.64 (+1.28%)
     

  • CAD/EUR

    0.6495
    +0.0005 (+0.08%)
     
ICYMI:

CANADIAN HOME SALES WERE THE HIGHEST EVER IN 2020 DESPITE COVID-19

The national average price rose 17.1% year over year in December

Great gifts for kids that instill financial savvy

REUTERS/Lucas Jackson Warren Buffett, America’s second-richest man. Sure, we all know that an Ivy League education, stint at a blue-chip firm, and stellar sales skills can help us get ahead. But it may surprise you just how many lesser known, seemingly random variables contribute to your professional success. From the month you were born to your comedic timing, the weirdest quirks can affect how successful you’ll ultimately be. We combed through research on success to identify 12 surprising things that can influence your career trajectory. While some factors can be sought out, others are beyond your control. This is an update of an article written by Alison Griswold. For starters, your birth month is hugely important in determining success. There’s a ton of research on what’s variously called the “relative-age effect,” “month of birth bias,” or “birth-date effect.” The basic principle is that kids born right before an annual cutoff date for starting school or sports are at a disadvantage because they’re essentially a full year younger than other members of the group. That makes a big difference in physical, emotional, and intellectual maturity. On the other hand, just missing the date means you will be more developed than your peers. Malcolm Gladwell popularized this idea in “Outliers,” which explored how more professional hockey players from Canada were born in January, February, and March than any other months. The reason? Canada’s cutoff date for hockey programs is Jan. 1. Similar research has shown that the number of CEOs with June and July birthdays is far below the expected normal distribution. That’s because kids born in June and July are usually the youngest in school, putting them at an early intellectual disadvantage. Your birth order influences your personality and development. Research shows that first-borns are highly ambitious and competitive. They tend to excel academically and, according to CareerBuilder, are the most likely to earn six figures and hold a C-level position. Middle children are considered strong team players and negotiators. Career-wise, they’re the most likely to work in entry-level jobs and earn less than $35,000. The youngest siblings are usually the most creative and entertaining in their families. Because of this, they often end up in creative roles or mid-level management. Finally, only children are most likely to be self-centered and success-seeking, and can also be unusually mature because they spend so much one-on-one time with their parents. Like first-borns, they often end up in C-level or six-figure positions, but can be less satisfied with their jobs than people who have siblings. Public or private school? It turns out that more expensive isn’t always best. That’s right, the latest data says that public schools actually outperform their costlier private peer institutions. University of Illinois professors Christopher and Sarah Lubienski published that surprising finding in their book, “The Public School Advantage: Why Public Schools Outperform Private Schools.” According to their research, students at private schools generally do well because they come from wealthy backgrounds and families with more advantages. But public schools are actually better when it comes to teaching math and keeping their teachers trained in the latest instructional methods. Your high school math performance can predict your future salary. If you ever thought about skipping algebra class, here’s a big reason not to: Higher achievement in math is correlated to higher salaries later in life. Regardless of high school graduation status, students who complete advanced math courses like algebra II and geometry have been later found to earn $1.30 to $1.66 more per hour than students that didn’t reach that level. In a 40-hour week, that means you could make an additional $66 if you paid attention in class. Kids who play sports achieve greater academic success. Regular exercise and participation on a sports team are both linked to greater academic performance. In one study conducted by the Los Angeles Unified School District, student-athletes were found to attend on average 21 more days of school than their peers and earn GPAs that were 0.55 to 0.74 points higher. Other research has found that college students who exercise regularly get better grades, and that students who study a lot are more likely to exercise on a regular basis. Military service can also shape your leadership abilities. People from military backgrounds might make the best leaders, according to a new working paper from the National Bureau of Economic Research. And knowing if someone has military experience can tell you a lot about their management style. The authors find that CEOs who’ve served in the military are (1) more conservative financially, (2) less likely to be involved with corporate fraud, and (3) better equipped to steer firms through tough times. Sounds like a pretty good combination. Healthy sleeping habits are linked to better grades. It turns out that all-nighters probably aren’t worth your time. The cost of sleep deprivation is greater than the knowledge you might gain from studying. Research shows that the less high school students sleep, the worse they tend to perform in class and on assessments. According to one study, students who receive C’s, D’s, and F’s in school get on average 25 fewer minutes of sleep than A- and B-students. It also helps to be a morning person. It seems the early bird does, in fact, get the worm. Research shows that people who perform best in the morning do better in their overall careers than those who hit their stride in the evening. One explanation for this is that evening people are out of sync with the normal corporate work schedule. Morning people are affiliated with better grades, which lead them to better colleges and presents them with better job opportunities. Early risers are also thought to be more proactive, which is another indicator of career success. Taller people make more money and are seen as more competent. The small and average-sized among us are short on luck. According to one book on height and success, bosses are more likely to hire a taller person (even when given two identical resumes) and have a positive first impression of them. Tall people are in control of their physical space, which increases the sense that they are self-assured and commanding. They tend to make more money, work in high-paying careers, and shine in jobs that emphasize social interactions. Attractive people also enjoy greater career success. There’s no other way to say it: Attractive people are simply more successful. Good-looking people usually get hired and promoted quicker and enjoy higher salaries than their less attractive coworkers. According to one recent study, hotter CEOs also help the bottom line. Research shows that hiring an attractive CEO can boost stock prices on that person’s first day and any time he or she appears on television. These CEOs also fare better in M&A transactions. A good sense of humor helps people build connections. A well-timed joke can be the quickest route to building a new relationship and can also increase productivity. Laughing and smiling produces dopamine, a neurotransmitter that stimulates our brain’s learning functions to up efficiency, creativity, and engagement. According to one study, happy employees were found to be 31% more productive and generate 37% higher sales than their peers. For leaders, humor can help to win over employees and come off as empathetic and approachable. And using a nickname could significantly boost your salary. Believe it or not, people who go by shorter names tend to earn more money. According to one analysis of nearly 6 million names by career site TheLadders, every extra letter in your first name can correspond to a $3,600 drop in annual wages. If you’re debating between “Sam” and “Samantha,” that’s a big difference. LinkedIn has conducted similar research showing that the most popular CEO names worldwide — Peter, Jack, and Fred — are either short names or shortened versions of names. So long as your nickname sounds professional, it can help convey friendliness and openness while also earning you more money. Now, see how your parents shape your success: How 14 Things That Happened To You In Childhood Shape You As An Adult Read more stories on Business Insider, Malaysian edition of the world’s fastest-growing business and technology news website.

Grandparents scrambling to buy the “perfect” gift may want to pause and consider something a little more practical than a remote-controlled car or a Frozen Barbie doll. Consider items that help kids learn about money and ways to save, share, and spend it.

Cash or gift cards

While not always the best choice, dollar bills or coins can sometimes hit the right note.

‘If you’re doing money, give cash to young children, as they can connect with the value of money when it’s in cash rather than a gift card or cheque,” says Kathryn Mandelcorn, a certified money coach with Money Coaches Canada in Vancouver (http://moneycoachescanada.ca/about/kathryn-mandelcorn/). “Sometimes giving cash can feel like you are not making an effort in your gift giving but I believe on the contrary. It allows the child to make decisions with money on how to spend or save it.”

It works even better when you help with those decisions, going with them to make choices in a store and even allotting a portion to sharing.

“In many cases, money can be powerful if used in the right way,” says Darren Coleman, certified financial planner, portfolio manager, and assistant branch manager at Raymond James in Toronto (http://raymondjames.com/colemanwealth/index.htm). “You can say, ‘I’d like to go with you to spend it. You are going to give some of it a charity and we’re going to work on who we’re going to give it to and why that is meaningful to you. Certain charities have catalogues where you can buy a well or a medical kit; something tangible like that is especially good for kids.

“Then when you go shopping together, you can say ‘we’re going to talk about what you like, what you’re interested in, so you become educated about how you should make purchases,’” he adds. “They might have $100 to spend at Chapters or Sport Chek and they have to make economic decisions: will they buy one big thing or three smaller things? Gift cards for kids are interesting because they can be an educational tool: if you do it well you can get a child educated on becoming a consumer and being involved in making choices.”

For relatives wanting to give money to preteens but who are worried it will just get squandered, Mandelcorn suggests “dream building”.

“Dream building is a wonderful way to give,” she says. “It may be the child’s dream or it may be a reflection of your dream – a love of travel, for instance. Open an account for your preteen and every month deposit an amount, perhaps $10 a month. By the time they have graduated they have an amount set aside to travel or for whatever other dream they have.”

Money-related games or toys

One of Lee Richmond’s top recommendations for those looking to instill a little financial savvy into their young’uns this holiday season is the Moonjar Savings Bank. The three-part box has sections labelled Save, Share, and Spend.

“This is my all-time favourite,” says the owner of Kaboodles Toy Store (http://www.kaboodlestoystore.com/) in Vancouver and Victoria. “It really teaches younger kids, up to about age 10, how to separate their money. They can visually understand the concept of saving for something in the future, even if that future is in only two weeks. Also, so many parents these days are trying to teach their children about giving to others, and this is one way to do it. It’s also a way to teach fractions and percentages.”

A home-made spin on this, Mandelcorn notes, is to take four mason jars, let the kids decorate them, and label them Spend, Save, Invest, and Give.

Other toys for kids aged three and up, Richmond says, include the Teaching Cash Register by Learning Resources, which contains Canadian play money, an LCD screen that displays transactions, and a talking checkout scanner; and Star Wars Math Workbooks from Thomas Allen Publishers.

Then there are board games.

“Monopoly is a great game for kids to understand the value of money and how to save, spend and invest,” Mandelcorn says. “The traditional game is the best.”

For teenagers, she suggests the Cashflow board game by RichDad.com (http://www.richdad.com/apps-games/cashflow-classic.aspx), which is a game the whole family can play together.

Books

Kids eight and under may enjoy the Zela Wela Kids’ Learn about Money or Build a Bank (http://www.zelawelakids.com/store/), Mandelcorn says, while several books teach young people about generosity and sharing (http://www.the-best-childrens-books.org/teaching-generosity.html).

For teenagers, she suggests Living Me to We: The Guide for Socially Conscious Canadians or Craig Kielburger’s Lessons from a Street Kid.

“Find a book that your teen would connect to,” Mandelcorn says. “It can inspire your to give back. Giving is a huge part of receiving, especially when it comes to money.”

RESP contribution

This idea is better for older kids, since little ones still like having something to open on Christmas Day.

“A Christmas contribution during the teenage years allows you to start the conversation about post-secondary education,” Mandelcorn says. “What are the expectations? What portion will you pay for? Teaching your children about the cost of education early allows for you to plan together. Show them their RESP account and how they receive grant money and about the power of compound interest and the benefits of investing over the long term.”

Just be sure to check with the parents to make sure the gift doesn’t result in an overcontribution, Coleman notes: there are limits in place and excess contributions will result in negative tax implications.

Stocks

Purchasing stock for a grandchild isn’t that common a gift these days.

“I think it’s great, but I don’t think kids get much out of it,” Coleman says. “It sounds interesting, but I don’t think the kid cares. They get a stock certificate and they just don’t understand it.”

Latest Stories

  • NBA: Raptors roll to rout of Mavericks

    Kyle Lowry scored 23 points, grabbed nine rebounds and handed out seven assists Monday night as the Toronto Raptors, playing at their temporary home in Tampa, defeated the Dallas Mavericks 116-93. It was the first time this season that the Raptors have won three in a row and it was the third straight loss for the Mavericks. Mavericks coach Rick Carlisle was ejected after picking up two technical fouls with 58 seconds left in the first quarter.

  • First Case under ‘Anti-Love Jihad’ Law Filed in Madhya Pradesh

    The ordinance penalising religious conversions through fraudulent means came into force less than two weeks ago.

  • FIFA report highlights drop in transfer fees in pandemic year, English clubs spend most

    In its Global Transfer Market Report, world football's governing body said that the total amount spent on transfer fees of $5.63 billion was down by $1.7 billion on 2019, a fall of nearly a quarter to the lowest cumulative amount since 2016.

  • Taiwan military stages drill aimed at repelling China attack

    Taiwanese troops using tanks, mortars and small arms staged a drill Tuesday aimed at repelling an attack from China, which has increased its threats to reclaim the island and its own displays of military might. “No matter what is happening around the Taiwan Strait, our determination to guard our homeland will never change,” said Maj. Gen. Chen Chong-ji said, director of the department of political warfare, about the exercise at Hukou Army Base south of the capital Taipei. Chen said the exercise was intended as a show of Taiwan’s determination to maintain peace between the sides through a show of force.

  • Running out of doses: Alberta pauses appointments for first COVID-19 vaccine shots

    EDMONTON — Alberta is pausing appointments for people to get their first dose of the COVID-19 vaccine, Premier Jason Kenney said Monday. He said the province would run out of supply for first doses by the end of the day or early Tuesday. "We'll get more vaccine in the coming weeks and some more doses this week, but we need to make adjustments today to accommodate this lack of supply," Kenney said. "Even with a new shipment of Pfizer expected later this week, we won't have enough supply to continue with new first-dose appointments." Pfizer-BioNTech indicated last week that it's cutting back on promised deliveries of its vaccine over the next four weeks as it works to expand production. Kenney said no new appointments for first doses are being accepted and some appointments already booked will be rescheduled. He said doses have been saved for those who have appointments for the followup shot Pfizer recommends. "We believe that we can administer second doses to all those who need them within the recommended time frame." Kenney said vaccines so far have been given to about 90,000 health-care workers as well as to staff and residents in continuing-care homes in Alberta. "Yesterday, we completed the first dose of vaccination at all of Alberta's 357 long-term care and designated supported-living facilities," Kenney said. "This is a tremendous milestone and I believe makes Alberta the first province in the country to complete the first-dose vaccine rollout for this important and highly vulnerable population." Late Monday, Indigenous Relations Minister Rick Wilson said in a news release that a "limited number of doses" were provided to Maskwacis Health Services to deal with a COVID-19 outbreak at four First Nations south of Edmonton. Wilson said the doses were being supplied on an "emergency basis." He also noted First Nations are prioritized in the first phase of the vaccine rollout, so that any First Nation person over the age of 65 is included in the first phase compared to those over the age of 75 in the general population. “I have spoken to many First Nations chiefs to assure them that we want to distribute the vaccine as quickly as possible," Wilson stated in the release. "Unfortunately, due to delays caused by the vaccine manufacturer and a lack of supply from the federal government, the rollout to First Nations communities has been delayed." Dr. Deena Hinshaw, Alberta's chief medical officer of health, reported 474 new cases of COVID-19 on Monday. There were 739 infected people in hospital, 120 receiving intensive care. There were 11 more deaths for a total of 1,447. Some COVID-19 restrictions were somewhat relaxed on Monday. Albertans are again allowed to visit hair salons and tattoo parlours, as well as receive wellness services — but only by appointment. Outdoor social gatherings, which had been banned since early December, are again being allowed in groups of up to 10 people. The limit on the number of people who can attend funerals has increased to 20, although receptions are still prohibited. Health Minister Tyler Shandro said last week that Alberta can't entirely ease up, but that it can make small adjustments to provide people with some limited activities. Hinshaw has said that easing rules now will act as a test case, and that COVID-19 case numbers will have to be lower before any other restrictions are loosened. Measures still in place limit restaurants and bars to takeout or delivery, and allow retail stores and churches to open, but only at 15 per cent capacity. Casinos, gyms, recreation centres, libraries and theatres remain closed. This report by The Canadian Press was first published Jan. 18, 2021. The Canadian Press

  • Reinhart, Lazar score twice in Buffalo's 6-1 win over Flyers

    PHILADELPHIA — Sam Reinhart and Curtis Lazar each scored two goals to lead the Buffalo Sabres to their first win of the season, 6-1 over the Philadelphia Flyers on Monday night. Carter Hutton stopped 21 shots in a light night of work against a Flyers team that had scored 11 goals as they won their first two games. Nicolas Aube-Kubel spoiled the shutout bid with 2:05 left. Minus injured No. 1 centre Sean Couturier (ribs), the Flyers played with little energy and failed to create many scoring chances. The Sabres scored four goals before the midpoint of the second period and chased Carter Hart after he faced 22 shots. Buffalo goalie Linus Ullmark sat out for personal reasons and that opened the door for Hutton to get his second start this season. Hutton went 12-14-4 last season and endured an 0-8-4 midseason stretch while dealing with an eyesight issue that required treatment to correct. Reinhart and Lazar did enough to help the Sabres accomplish a couple of things they haven’t done well of late: win on the road, and win in Philly. The Sabres went 10-20-4 on the road last season, and were 0-6-1 in their last seven games in Philadelphia since 2014. Taylor Hall, the NHL’s 2018 MVP and a six-time 20-goal-scorer, had two assists for the Sabres. Hall signed a one-year, $8 million contract with Buffalo and has quickly fit in on the top line centred by captain Jack Eichel. Eichel also had two assists as the Sabres denied the Flyers their first 3-0 start since 2011. The Sabres, an afterthought these days on the Buffalo sports scene behind the Bills, had scored only five goals in their first two games. Lazar’s backhander over Hart in the first clanged off the pipes and reverberated throughout the mostly empty arena. Reinhart went back-to-back in the second, scoring his first goal from one knee off a pass across the crease from Hall and his second alone in the slot. Reinhart had his 10th career multigoal game. Lazar pumped his second goal into an empty net when Hart’s back was turned for a 4-0 lead. Henri Jokiharju made it 5-0 in the third and Victor Olofsson added a power-play goal in the final minute to cap the scoring. HALL OF A START Hall became the fifth player in the last 20 years to record a point in each of his first three games as a member of the Sabres. GOSTISBEHERE OUT Flyers D Shayne Gostisbehere was designated a non-roster player. Gostisbehere missed the first two games for COVID-related reasons. The Flyers recalled Connor Bunnaman from the taxi squad. COOTS OUT Couturier, who last season became the first Flyers player in 33 years to win the Selke Trophy as the NHL’s top defensive forward, will miss about two weeks. He could miss two games each against Buffalo, New Jersey and Boston. Morgan Frost made his season debut at centre. WHAT’S NEXT? The Sabres and Flyers finish their two-game set on Tuesday. Brian Elliott, who replaced Hart in the second period, was scheduled to get his first start of the season. ___ More AP NHL coverage: https://apnews.com/hub/NHL and https://twitter.com/AP_Sports Dan Gelston, The Associated Press

  • Trey Burke with an and one vs the Toronto Raptors

    Trey Burke (Dallas Mavericks) with an and one vs the Toronto Raptors, 01/18/2021

  • DeAndre Jordan with a dunk vs the Milwaukee Bucks

    DeAndre Jordan (Brooklyn Nets) with a dunk vs the Milwaukee Bucks, 01/18/2021

  • Kristaps Porzingis with an alley oop vs the Toronto Raptors

    Kristaps Porzingis (Dallas Mavericks) with an alley oop vs the Toronto Raptors, 01/18/2021

  • Terence Davis with a dunk vs the Dallas Mavericks

    Terence Davis (Toronto Raptors) with a dunk vs the Dallas Mavericks, 01/18/2021

  • Crowds Celebrate Martin Luther King Jr. Day During March on Brooklyn Bridge

    Crowds danced, chanted and played instruments during a Black Lives Matter rally on the Brooklyn Bridge in New York, to mark Martin Luther King Junior Day on January 18.This video uploaded to Twitter, shows the group forming a circle around a number of dancers, while others sing and wave Black Lives Matter flags behind them.Local media reported the New York Police Department made several arrests in relation to the protests in Lower Manhattan. Credit: @milesjee via Storyful

  • Josh Green with a 2-pointer vs the Toronto Raptors

    Josh Green (Dallas Mavericks) with a 2-pointer vs the Toronto Raptors, 01/18/2021

  • Raptors beat Mavericks 116-93, extend win streak to 3 games

    TAMPA, Fla. (AP) -- Kyle Lowry scored 23 points and Pascal Siakam had a big second half Monday night, leading the Toronto Raptors to a 116-93 win over the Dallas Mavericks.

  • Divisional Round fantasy football recap and early Conference Championship odds

    Matt Harmon and Scott Pianowski are here to recap the Divisional Round of the NFL Playoffs and preview this weekend's games for the latest episode of the Yahoo Fantasy Football Forecast!

  • Tammin Sursok Says She's 'Going to Cry' as She Gives Update on Husband's Struggles with COVID-19

    The actress said she and her daughters "tested negative three times now, which is wild because we were around him right up until he got symptoms"

  • NHL honours Willie O’Ree while struggling to tackle its diversity issues

    Sixty-three years after Willie O'Ree became the first black player in an NHL game, the league paid tribute to him on Martin Luther King Jr. Day even though many say the league is still struggling with diversity issues.

  • Kyle Lowry with a buzzer beater vs the Dallas Mavericks

    Kyle Lowry (Toronto Raptors) with a buzzer beater vs the Dallas Mavericks, 01/18/2021

  • Facebook claims it does not conduct business in Australia in Cambridge Analytica appeal

    Facebook claims it does not conduct business in Australia in Cambridge Analytica appealSocial media company aims to avoid liability over Cambridge Analytica scandal by arguing it does not collect or hold data in Australia

  • What does the future hold for Parler after Big Tech blacklist?

    CEO John Matze joins 'Hannity' to give an update on what's next for the social media platform

  • Texans interview Bieniemy, 3 others in coaching search

    HOUSTON (AP) -- The Houston Texans said Monday they had interviewed four more candidates to replace fired coach Bill O'Brien.