Category Archives: Uncategorized
Registered Investments
Contributing to Your Retirement*
Now is a good time to assess what you want to invest in your RRSP or TFSA or both.
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Sure-fire ways to invest for a rewarding life
Here are several tips to contemplate prior to investing a mutual fund:
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How can I minimize the need for estate probate?
There are a few tactics whereby you can reduce the need for an estate to be probated by the government: • Defer possible probate by holding assets jointly. Probate fees may be charged when that asset is transferred later through the …
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How does inflation risk my retirement?
Statistics Canada releases inflation figures regularly to determine the health of the Canadian economy. Increasing inflation indicates that the economy’s overall prices are rising. On the upside, this can mean good economic growth is pushing these numbers higher. Some inflation is …
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The scope of a good financial strategy
A good financial strategy is multi-faceted. It must anticipate change and reflect your specific financial goals and objectives while considering your level of investment risk tolerance. A personalized financial strategy can be tweaked to reflect your changing life needs. Whether …
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Registered Investments
How can my RRSP benefit by Dollar Cost Averaging (DCA)?
Here is a strategy that works all year round, well ahead of, and therefore eliminating, the annual RRSP deadline frenzy.
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Understanding mortgage rates
The influence of the Bank of Canada, in tandem with the markets, influence your mortgage rates.
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Is a Life Insurance benefit taxable?
The advantages of life insurance are well known: It is foundational to a sound financial plan
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Investment fund management side-steps the psychological chaos
Professional analysts are trained to look at strategies to help you succeed at investing.
Read ArticleHabits that apply to financial planning
Steven Covey’s book The 7 Habits of Highly Effective People Powerful Lessons in Personal Change (25th Anniversary Edition) seeks to manage our habits for good, according to psychology, to help us manage conditioned responses to stimuli such as media or …
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Professional Advice in Times of Inflation
Because inflation is on the rise the cost of goods and services will be increasing in the future.
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Honey, I forgot to invest!
Your time to invest for retirement is shrinking annually. The older you get, the more you might say, “I don’t know where the time went – it just flew!”
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Long Term Care: Neuroscience and the aging mind
Since the 1920s the ratio of seniors over the age of 85 has doubled to one out of every ten people. This number is to increase, to five times the current demographic, into the 2050s according to Statistics Canada. That means that half the population in 40 years, will be over age 85.
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You must invest with an actionable plan
Many procrastinate when it comes to financial planning because when left alone without professional guidance
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Corporate Owned Life Insurance Review
Chartered Accountants, Financial Professionals, Life Insurance credentialed specialists, for decades engaged strategies to help business owners retain estate value — often to pay off debts relating to potential capital gains tax due — which helped business owners after many years of hard work.
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Are you ready for a Financial game changer?
Thinking about financial planning and your decisions can affect you and your loved ones for a lifetime. Renewing your financial mindset. Plan your new paradigm. A comprehensive financial plan helps you make decisions about your finances which empower all the …
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The advantage of using a qualified financial professional
Unless you have inherited money, you might feel like “not enough money” is the top stress agitator today. The Baby Boomer population, many of whom are working long after the traditional age of 65, reveal that a lack of financial …
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Financial Planning and Millennials
Between the late-1970s and the mid-1990s, the most significant Canadian workforce referred to as millennials (or Generation Y) was born. As the largest generation by population size in North America, by 2025, three out of every four workers globally will …
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WISDOM: Plan your financial strategies
Your mindset can alter how you plan to invest in the future. Planning avoids the fear of making a wrong money decision and mitigates the depletion of your cash flow. Here are some basic financial planning principles to consider: Discipline …
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Estate Wealth: Executor Strategy
Every adult needs an up-to-date will. Without a will, provincial laws outline how an estate is to be settled, which may not reflect your wishes. Outdated wills may not allow for changes in: • family circumstances such as a new …
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Managing business risk is a survival strategy
Start-up firms and smaller companies are especially vulnerable to risk because they often lack considerable company sophistication and in-house risk-control expertise. Some risks are potentially devastating and therefore must be insured against; others are less menacing. We can broker for …
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Habits of Mindful Wealth Creation*
Most successful investment strategies hinge on holding investment funds. There are ten important wealth management tactics that can help maximize your long-term investment returns.
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Advantages of the Tax-Free Savings Account (TFSA)–
There are basic uses for the Tax-Free Savings Account (TFSA) for investment planning purposes. Some may have advantages for your planning: Retirement planning. TFSAs can benefit individuals who are looking to invest in their retirement but are unable to contribute …
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Ten Business Succession Pitfalls
Ten Business Succession Pitfalls Various circumstances can make succession planning either difficult or impossible. The suitable successor quits. A son or daughter may decide to leave the firm after having worked in the family business for years without a commitment …
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Eliminating Debt in an Estate Plan
Copyright of AdviceOnMedia® Life insurance designed to pay the debt Many owe thousands of dollars on their credit cards. Others who are highly successful entrepreneurs may be millionaires who want to transfer a business to the next generation or sell it …
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Educational Planning
The Registered Education Savings Plan (RESP) Facts about an RESP A Registered Education Savings Plan (RESP) is a savings plan registered with the government that can help you save for your child’s post-secondary education. Money invested in an RESP grows tax-deferred. …
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How can Life Insurance protect my family?
Life insurance has provided families with basic financial security for well over 100 years.
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The Bias of Investment News
Traditional economic indicators are often poor predictors of a stock market trend. One of those indicators is the news. It can increase emotional reactions among investors but it will not predict stock market trends. here is an example of financial news that you may be exposed to in a week:
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The Patterns of Economic Recovery
The global economies still face the high rising costs incurred by the pandemic affecting us all. Economists, financial analysts, fund managers and CEOs of various reputable financial institutions continue to reassess their viewpoint on the recovery of the world’s financial markets.
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Scammer-thieves on the rise
We live in a busy world with the increasing stress of Covid-19. overwork, concerns for our children’s fiscal and career futures, ageing parents, and our retirement, ageing and health concerns. Others are dealing with grief over the death of a …
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Understanding the Family Legacy Plan
It is important to plan the most efficient manner of leaving hard-earned assets to heirs. Try to attend to these concepts to maximize your legacy. Keep your testamentary trust (your will) updated. Without an updated will, deceased heirs may be …
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REAL ESTATE The influence of lower interest rates
Just as the stock market is cyclic, so is the housing market. When buying or selling a home, try to ascertain what kind of market you will enter.
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Bear Market Duration
Bull markets are periods of rising capital valuations that generally create increased wealth for investors in the equity markets. Bear markets work to conversely decrease gains in equity investments for a limited but unknown period of time.
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Tips on Home Repair & Maintenance
Once you’ve finally settled in, you may start to view your home with a more objective eye. Perhaps there are things you’d like to change — the kitchen cabinets or the flooring, for instance.
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A Business Owner’s Insurance Checklist
Managing risk is a survival strategy businesses can’t ignore. Start-up firms and smaller companies are especially vulnerable to risk because they often lack big company sophistication and in-house risk-control expertise.
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5 tips for choosing an executor for your estate
Common sense easily persuades us that every adult needs an up-to-date will. Without a will, provincial laws outline how an estate is to be settled, which may not reflect your wishes.
Read ArticleTax Tips Quarterly
Aging gracefully while managing wealth decisions
Our population is aging rapidly the more the baby boomer demographic retires. We knew this was going to occur, along with more retirees also becoming incapable of making practical financial decisions.
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Why Women Excel at Investing
The incoming generation of investors will be younger and much more diverse, with women now partaking of an increasingly prominent role in building and growing family and personal wealth.
Read ArticleLife View
Getting Perspective on Planned Giving
You don’t need to be rich or famous to get involved—everyone can! For example, for just dollars a day you can help feed a child through World Vision. Talk to your advisor about the tax benefits of charitable donations.
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Education’s effect on future income
In Canada, the government allows a welcome tax break when you save for your child’s education. As parents, we need to consider the effect that education will have on the future income and lifestyle of our children.
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The reward of investor patience
Professional fund money managers understand that market cycles, and such market shocks call for cautious patience.
Read ArticleEstate View
Protect your family with life Insurance
We all face the risk of mortality. We’ve all been through a risk-intense time with COVID-19. It’s important to purchase life insurance when you are in reasonably good health. In the event of the death of an insured, life insurance …
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Tips on buying a home
Buying a home, can be one of your most important investments. Here are a few tips on buying a home:
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Principles of Financial Security
Envision your financial independence. Financially successful people have these things in common: they follow their dreams and believe they can serve others while achieving financial independence, and they move in that direction. One thing is imperative. Create a financial plan. …
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The final steps once you buy a home
The closing day is the day when you finally achieve your goal—you take legal possession and finally get to call your new house your own. You are sure to feel great relief and satisfaction but remember that the home …
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Understanding Variable Mortgages and Interest Rate Increases
Many people cannot stand the risk of not knowing if their mortgage rate is going to climb higher due to rising interest rates.
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How to create an income if you are disabled
The individual should include some form of disability coverage to replace his or her income.
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Tactical Capital Gains Tax Planning
Capital gains from a business, cottage, second residence, rental property, or non-registered investments are subject to taxation when the property is disposed of. How and when the property is disposed of requires serious consideration, as the tax implications can be enormous.
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Add confidence to a solid financial plan
Look through a wider lens to see life insurance at work. Life insurance protects you against income loss, and the adverse effect less income can have on your family if one were to die or have a disability.
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Running out of meds on vacation
When you are travelling out of the country make sure that you pack considerably more of your prescribed medications than enough needed only for your planned stay period. Why would you need more?
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LIVE UPDATES: Up-curve of COVID-19
The world is on hold until hunkering down with their loved ones, or alone, while we await slowing down and halting this wildly fast pandemic spread. There are numerous graphs which give you an overview of the data in graphical format.
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Avoid RRSP Over-contributions*
The registered retirement savings plan (RRSP) is a tax-deductible retirement plan which gives flexible control of your investments in the account. Until age 71, you can contribute to your RRSP, or of your spousal/common-law partner to their age 71.
Read Article Advanced At-Arm’s-Length Buy-Sell Strategy
Consider using life insurance purchased on the life of an elderly principal buyer of your business. Don’t confuse this with an inter-partner buy-sell agreement. It is instead an at-arms’-length buy-sell strategy presented during a selling/buying negotiation on the fly. Talk …
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Advantages and disadvantages of a home equity line of credit
Advantages of home equity lines of credit include: easy access to available credit often lower interest rates than other types of credit (especially unsecured loans and credit cards) you only pay interest on the amount you borrow you can pay …
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Two strategic ways to contribute to your RRSP
Many people invest in their RRSP by purchasing a lump sum investment prior to the annual deadline.
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How Lifespan impacts Retirement Funding
In good health or declining vigor, we ought to be just as aware of the sobering fact that we have a certain number of days in which to live in retirement, depending on our life expectancy.
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What are the steps to selling a business?
Selling your business can be a time of stress and uncertainty. Here are some tips which can help make the transition easier.
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RRSPs: The importance of investment time
The Canadian government regulates the Registered Retirement Savings Plan (RRSP) program, allowing it to have unique tax benefits as you save for your retirement. Annual RRSP contributions can reduce the amount of income tax you pay in the year of …
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What is the importance of a Status Certificate when buying a condo?
It is important for a purchaser to obtain an up-to-date status certificate for the unit and have it reviewed by a real estate lawyer. Real estate agents generally make the agreement of a condo purchase and sale conditional upon a satisfactory review of the Status Certificate.
Read ArticleTax Tips Quarterly
Making the Most of Your Government Pensions
Government Retirement Pensions Canada Pension Plan (CPP) and Old Age Security (OAS) are Canadian government pensions which you can receive in your retirement. CPP can be acquired for a lifetime beginning between age 60 and age 70. The Old Age …
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Tax Snapshot: Tax-Free Savings Account (TFSA)
You cannot deduct contributions that you make to a TFSA, and your investment gains are not taxable. Though you can register several TFSAs, combined contributions cannot exceed your cumulatively available TFSA contribution room. TFSA contribution limits Your TFSA contribution room …
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The RRSP Deadline for 2019 is Mar 1
In Canada, the government has established the Registered Retirement Savings Plan (RRSP) which allows certain tax benefits for saving for retirement.
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Plan your 2018-2019 Investor Tax Breaks like a Chess Pro
RRSP and TFSA Numbers Update The RRSP Maximum contribution for 2018 is $26,230; for 2019, $26,500. In 2018, the annual TFSA limit is $5,500 giving a total of $57,500 for someone who has never contributed and has been eligible …
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The Joy of Cash Flow Planning for Wealth
The household debt ratio rose in the second quarter of 2018. Canadians owed $1.69 in credit market debt per dollar of household disposable income.1 Demand for consumer credit increased while mortgage or non-mortgage loans decreased due to interest rate hikes. …
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Planning your CPP: Review 2018-2019
The Canada Pension Plan (CPP) provides contributors and their families with partial replacement of earnings in the case of retirement, disability or death. Almost all individuals who work in Canada outside Quebec contribute to the CPP. Calculating your CPP while …
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Using both RRSP and TFSA incentives
What are some of the differences between a Tax-Free Savings Account (TFSA) and the Registered Retirement Savings Plan (RRSP)? The tax benefits of the Tax-Free Savings Account (TFSA) The TFSA is a registered savings account that makes it easy for Canadian …
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What are you looking for in a home?
Before you start searching for a home, you need to think about your needs both now and in the future. Here are some things to consider.
Read ArticleTax Tips Quarterly
Plan your RRSP Ahead to Reduce Taxable Income
Every year we publish legislative and current updates to the Registered Retirement Savings Plan (RRSP) and Pooled Registered Pension Plan (PRPP) and Specified Pension Plan (SPP).
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Tax Difference of RRSPs and TFSAs
What are some of the differences between a Tax-Free Savings Account (TFSA) and the Registered Retirement Savings Plan (RRSP)?
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Financial Planning and Your Net Worth
Here is why preparing your net worth statement is smart.
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Implementing an investment plan
An investment plan will include tactical implementation and ongoing monitoring.
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Certainty of Income: The key to a Happy Retirement
This makes it clear that a good financial plan that offers a solid retirement income is the key to a happy retirement.
Read ArticleWealth Viewpoint Quarterly
Why investors benefit from long-term investing
We need to sincerely acknowledge the fantastic opportunity that investment time provides the investor. Most people have had lots of time within which to invest. At age 35 we cross over the halfway mark of the time remaining to invest; …
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Many worry about impending retirement
Anxiety over inadequate retirement funds is a stress needling many who are approaching the period of not working — meaning retiring and reliant upon saved monies to supply a monthly cash flow. It’s not checking off the bucket list that …
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Family Capital Legacy: Strategies to consider
You may want to include multi-generational strategies to include estate plans and long-term provisional care with your senior family members who may depend on tax planning ahead of time. Family Capital-Transfer Strategy Seniors may be able to transfer capital to …
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Mortgage insights navigating new rules
Typically when you are considering buying a property: a house, condo, or duplex, you may be concerned if you have enough money. With the new mortgage rules in play, get all the knowledge you can as you begin to plan. …
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Good financial plans use life insurance
In the event of the death of the insured, life insurance is designed to create capital. It provides a precautionary measure in a financial plan to stabilize the financial security of loved ones reliant on your income or your capital provision. If you have a spouse or children, make sure you have adequate life insurance coverage.
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Minimize your capital gains tax exposure
Do your heirs expect to inherit an old homestead property, a family cottage, a residence, your farm, an art collection, furniture, or business shares? They may have to be liquidated by the estate, perhaps at a loss, to pay any existing tax liability. Life insurance can pay tax-free benefits, can side-step probate, or estate administrative tax, and can cover any estate liabilities that could impinge on bequests that you want to make to your loved ones.
Read Article Dollar-Cost-Averaging (DCA) is a perfect investor mini habit.
Dollar Cost Averaging (DCA) gets your RRSP or TFSA money working earlier. A strategic process engages a habit easy to do all year round, well ahead of, and therefore, eliminating the annual RRSP deadline frenzy. This investment also works well …
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Federal Budget 2018 Snapshot
Finance Minister Bill Morneau has tabled his third federal budget on Tuesday, February 27, 2018 which engages the spending of $21.5 billion. A few highlights are: The deficit is projected to be $18.1 billion for 2018-19 to reduce to $12.3 …
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Passive Investments and the 2018 Federal Budget
Passive investment income tax changes apply to the wealthiest 3% of corporations Morneau says.
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Aiming at a debt-free lifestyle
Debt can affect all other plans in life. Money poorly managed has ruined close relationships and made men mortal enemies.
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Tax changes that may affect you
How might the Federal government tax changes directly affect you?
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It’s RRSP Top Up Time
It is that time of year when you weigh your tax bill against the contributions to an RRSP which can be deducted from your taxable income. This allows you to pay less tax on the money you make, hence leaving more money to invest for retirement.
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Taking the long-term view
Consider these ten points when planning your investments. Understand the influence of business and market cycles
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Does the Canada Pension Plan (CPP) offer a death benefit?
The CPP may offer a small death benefit but is not designed for providing a retirement income, or looking after a surviving spouse as he or she ages. Your spouse or common-law partner may be eligible to receive the CPP …
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Why widows need a financial plan
The widow population over the age of 65 is one of the fastest growing demographics facing poverty! Senior widows outnumber widowers four to one and represent about 45% of all women aged 65 and over.
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CPP and Business Owners
CPP and Business Owners Business Income As well if you have any other income such as business investments, rental income, etc., this may affect CPP payments. It is important that your accountant advise you along the way just how important …
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What is the CPP’s Child-Rearing Provision?
If you stopped working or received lower earnings to raise your children, you may be able to use the “child-rearing provision” to increase your CPP benefits.
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Have a Happy and safe Holiday!
Have a safe and joyous holiday! Looking forward to working with you in the New Year!
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Does the CPP pension continue at death?
The CPP may offer a small death benefit but is generally not designed for providing a retirement income, or looking after a surviving spouse as he or she ages.
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Using both RRSP and TFSA incentives
What are some of the differences between a Tax-Free Savings Account (TFSA) and the Registered Retirement Savings Plan (RRSP)? The tax benefits of the TFSA The TFSA is a registered savings account that makes it easy for Canadian taxpayers to earn …
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Video Financial Lesson – Intoduction to Inflation
Inflation is the rate at which the general level of prices for goods and services increases, affecting a falling purchasing power. Though some inflation is good, central banks attempt to stop severe inflation to keep the excessive increase of prices to a minimum.
As inflation rises, every dollar will buy a smaller percentage of any particular good or service. For example, if the inflation rate is 1%, then a $1 bottle of water will cost $1.0 1 in a year.
Life View
Plan how you shop to save money
With all the sales going on in the year’s final quarter such as Black Friday, Cyber Monday, Christmas and Boxing Day, we need to watch for undisciplined spending. We may also have the desire to fly south to find warmth, sun, fun and relax. There are services purposely to help you sort through a barrage of sales.
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Can fake news affect financial media?
There are times when the market is flying high and other times when there are corrections. What the sub-prime financial crisis has taught us is that traditional economic indicators are poor predictors of a stock market trend. One of those indicators is the news.
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Advice by Design: Retirement Planning
Retirement planning is strategic There are many factors to consider to develop a strategic financial plan. This is why financial advisors apply their trained expertise to organize a strategy in the following key categories designed for your future retirement security: Net …
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Your goals inspire what we do
We believe in the very best strategies designed to apply to your own life – no one else but you, and if applicable, your family. 1 Clarify Your Vision Your needs are unique and drive what motivates you. Gaining …
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Live well today, thrive tomorrow
The objective of a financial advisor is to strive to advance your financial security so you can live now and thrive tomorrow, enjoying the current and future life you want. Our mandate is to deliver such a plan that you …
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Potential solutions to minimize investor risk
In business and investments, greater gain can be accompanied by greater risk. Important risk factors are examined below, along with constructive ways to deal with them
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