After spending likely 15 – 30 years focused on building an investment portfolio, it can be quite a challenge to switch gears when it comes time to withdrawing income from a retirement portfolio. This change leads to new ways of looking at investing as well as re-assessing habits that have
Almost everyone agrees that it’s a good idea to have a will. However, it is estimated that about half of Canadians do not have one, and it is likely that many wills are out of date, perhaps even invalid. Not having a will can make the sorting out of
This seems to be an increasingly topsy-turvy world with wacky politics and trade wars between the US and just about everyone else. And in Canada we have all just witnessed another hard-fought federal election that ended with a minority government. The question is how to navigate such tricky waters in
The age old saying, ‘Ignorance is bliss’, may apply to many things in life. However, when it comes to your finances, ignorance can be absolutely devastating. Even the government is calling the startling low rate of financial literacy among Canadians an epidemic that can have catastrophic consequences for the nation’s
Phillip and Betty want their estate settled as smoothly and cost effectively as possible when the time comes. They have taken a number of steps to make sure this happens. Phillip and Betty review their wills on a regular basis and make changes as necessary. They have discussed their
Brent and Darlene really enjoy their ‘toys’ and their lifestyle. In the last few years, they bought themselves a big screen TV, a stereo system, two expensive new vehicles, a ski boat and took a tropical vacation, mostly on credit. They also used their credit cards to pay for numerous
Alicia was about to sign the papers on her new vehicle when she noticed an additional charge of a little over $3,400 for insurance on the Bill of Sale. When she asked the finance manager what it was for, he said, ‘Well, that’s for the life and disability insurance for
It is required by the Income Tax Act that a Registered Retirement Savings Plan (RRSP) must be closed by the end of the year in which the planholder (annuitant) reaches age 71. At that time, the annuitant must decide what to do with their retirement savings. They have three options
If you were going to recommend a treatment plan for a loved one suffering with alcoholism, would you prescribe more alcohol as the best course of action to help them to recover or otherwise improve? Now put this question aside for the moment. Let us look at the personal
If you are a solo entrepreneur or are otherwise self-employed, you are aware that it is nearly impossible to take into account all the various tax consequences of your business decisions. You have a business to run and customers to please, so decisions are often made on the fly.
Many falsely believe they will not be victims of a critical illness like cancer, heart attack or stroke. They also believe that if they do experience a serious illness, the healthcare system will look after them. Nothing could be further from the truth. It took Darren almost 3 years
In his early July testimony before Congress, US Federal Reserve Chairman Jay Powell. Mr. Powell stated that the Fed funds rate will be reduced, given lower than expected U.S. inflation. This follows on the heels of President Trump’s demands for lower interest rates to help support the economy and more
A fire breaks out in a movie theatre. You’re there with your spouse and children, as are several local merchants. Who do you save first? The butcher? The banker? The hardware store owner? Their families? Or your family and yourself? A ridiculous question. Of course you would save your
Grant and Sarah are planning on retiring within the next two years. Paul and Linda, already retired, are thinking about making a move. Whether you are about to retire or are already retired and considering a change, you should consider: *Fictional characters for illustrative purposes only.
Over the next several years, governments in advanced countries will likely continue to struggle with mounting debt burdens and the associated rising costs of servicing that debt. It is also noteworthy to remember that total government debt continues to increase every year because of deficit spending. So how does
Clients often call when markets are looking a bit shaky, or newspaper articles are predicting the next market correction, recession, bubble, etc. The challenge with reacting to such events or news is that the external circumstances rarely have anything to do with your specific situation and plan. Your mission,
Despite what many people think, the number one financial dream killer isn’t portfolio losses, or financial emergencies, or unemployment, and not even natural disasters. The number one reason people fail to reach their financial goals is procrastination – putting off the inevitable until the cost of your dreams or goals
Like many business owners, Rick and Warren thought it would be a simple process to continue the business when one of them died. Nothing could be further from the truth. Rick and Warren had a printing company and were equal partners. Warren died suddenly. Warren’s shares passed to
A major Canadian financial institution ran an investment promotion earlier this year that promised attractive returns for GIC-type investors, who needed higher returns to generate income. While dealing with an advisor from this particular institution on another matter, the conversation turned to the details of their offer. The highlighted
Many mistakenly believe that if they need Long Term Care, either in their home or in a facility, the cost will be covered by provincial health care or other government agencies. While certain programs are available, a large portion of these costs become the responsibility of the patient or their
One of the most interesting facets of the financial services industry is how so many people tend to invest their money and plan their financial affairs by chasing trends and doing what is “popular”. For example, many investors like a “sure thing” and will often pile into an investment
Similar to the situation of individual Canadians, small business owners must deal with a variety of financial challenges in order to grow their businesses. Besides managing issues like cash flow and assets, small businesses must also think about taxes on income. Without a doubt, tax return filing can be
Earl wants to control the distribution of his estate when he dies and feels that a Will is a good idea. He saw an ad on social media about do-it-yourself Wills and decided to buy Will kit. The booklet he received a few weeks later contained lots of useful information.
With the December market correction in both the US, Canada and elsewhere slowly receding into the past, it is a good time to review what exactly happened and how clients have reacted to the recent events. To put December into context, it was the most severe correction late in
Many people look forward to retiring, and going to live beside a golf course, on the coast, or somewhere else where they have always dreamt of. It’s enticing to think that your leisure time can be spent pursuing activities you have worked and longed for all your life. In fact,
If your way of assessing the state of the world is only through stories gleaned from the regular media, then you are likely missing out on all the marvelous and wondrous advancements of human society over the previous years and decades. With news reports during the final months of
It is possible for just about everybody to achieve financial success. Getting there is usually not a matter of financial wizardry. By following some basic principles, you can make your financial dreams come true: Set Objectives Goal setting is the foundation of achieving financial success. If you don’t have
Ralph became concerned about what would happen to his hard-earned estate after seeing what had happened to some people he knew. Vivian had remarried and chose to cut costs by using a do-it-yourself will kit. Because she had not allowed for the obligations set out in her deceased husband’s
As you look to 2019 for a fresh beginning, we invite you to set your intentions to have a breakthrough year! To do that, you are invited to reach for and set some Big Hairy Audacious Goals (BHAG)! That’s right! Why look to set incremental goals when you can
Introduced in 1957, the Registered Retirement Savings Plan (RRSP) is an incentive program to entice the Canadian population to save for retirement. In order to get the most from this type of savings vehicle, it is essential to plan future investments and avoid panicking to meet deadlines or taking action
After spending likely 15 – 30 years focused on building an investment portfolio, it can be quite a challenge to switch gears when it comes time to withdrawing income from a retirement portfolio. This change leads to new ways of looking at investing as well as re-assessing habits that have
Almost everyone agrees that it’s a good idea to have a will. However, it is estimated that about half of Canadians do not have one, and it is likely that many wills are out of date, perhaps even invalid. Not having a will can make the sorting out of
This seems to be an increasingly topsy-turvy world with wacky politics and trade wars between the US and just about everyone else. And in Canada we have all just witnessed another hard-fought federal election that ended with a minority government. The question is how to navigate such tricky waters in
The age old saying, ‘Ignorance is bliss’, may apply to many things in life. However, when it comes to your finances, ignorance can be absolutely devastating. Even the government is calling the startling low rate of financial literacy among Canadians an epidemic that can have catastrophic consequences for the nation’s
Phillip and Betty want their estate settled as smoothly and cost effectively as possible when the time comes. They have taken a number of steps to make sure this happens. Phillip and Betty review their wills on a regular basis and make changes as necessary. They have discussed their
Brent and Darlene really enjoy their ‘toys’ and their lifestyle. In the last few years, they bought themselves a big screen TV, a stereo system, two expensive new vehicles, a ski boat and took a tropical vacation, mostly on credit. They also used their credit cards to pay for numerous
Alicia was about to sign the papers on her new vehicle when she noticed an additional charge of a little over $3,400 for insurance on the Bill of Sale. When she asked the finance manager what it was for, he said, ‘Well, that’s for the life and disability insurance for
It is required by the Income Tax Act that a Registered Retirement Savings Plan (RRSP) must be closed by the end of the year in which the planholder (annuitant) reaches age 71. At that time, the annuitant must decide what to do with their retirement savings. They have three options
If you were going to recommend a treatment plan for a loved one suffering with alcoholism, would you prescribe more alcohol as the best course of action to help them to recover or otherwise improve? Now put this question aside for the moment. Let us look at the personal
If you are a solo entrepreneur or are otherwise self-employed, you are aware that it is nearly impossible to take into account all the various tax consequences of your business decisions. You have a business to run and customers to please, so decisions are often made on the fly.
Many falsely believe they will not be victims of a critical illness like cancer, heart attack or stroke. They also believe that if they do experience a serious illness, the healthcare system will look after them. Nothing could be further from the truth. It took Darren almost 3 years
In his early July testimony before Congress, US Federal Reserve Chairman Jay Powell. Mr. Powell stated that the Fed funds rate will be reduced, given lower than expected U.S. inflation. This follows on the heels of President Trump’s demands for lower interest rates to help support the economy and more
A fire breaks out in a movie theatre. You’re there with your spouse and children, as are several local merchants. Who do you save first? The butcher? The banker? The hardware store owner? Their families? Or your family and yourself? A ridiculous question. Of course you would save your
Grant and Sarah are planning on retiring within the next two years. Paul and Linda, already retired, are thinking about making a move. Whether you are about to retire or are already retired and considering a change, you should consider: *Fictional characters for illustrative purposes only.
Over the next several years, governments in advanced countries will likely continue to struggle with mounting debt burdens and the associated rising costs of servicing that debt. It is also noteworthy to remember that total government debt continues to increase every year because of deficit spending. So how does
Clients often call when markets are looking a bit shaky, or newspaper articles are predicting the next market correction, recession, bubble, etc. The challenge with reacting to such events or news is that the external circumstances rarely have anything to do with your specific situation and plan. Your mission,
Despite what many people think, the number one financial dream killer isn’t portfolio losses, or financial emergencies, or unemployment, and not even natural disasters. The number one reason people fail to reach their financial goals is procrastination – putting off the inevitable until the cost of your dreams or goals
Like many business owners, Rick and Warren thought it would be a simple process to continue the business when one of them died. Nothing could be further from the truth. Rick and Warren had a printing company and were equal partners. Warren died suddenly. Warren’s shares passed to
A major Canadian financial institution ran an investment promotion earlier this year that promised attractive returns for GIC-type investors, who needed higher returns to generate income. While dealing with an advisor from this particular institution on another matter, the conversation turned to the details of their offer. The highlighted
Many mistakenly believe that if they need Long Term Care, either in their home or in a facility, the cost will be covered by provincial health care or other government agencies. While certain programs are available, a large portion of these costs become the responsibility of the patient or their
One of the most interesting facets of the financial services industry is how so many people tend to invest their money and plan their financial affairs by chasing trends and doing what is “popular”. For example, many investors like a “sure thing” and will often pile into an investment
Similar to the situation of individual Canadians, small business owners must deal with a variety of financial challenges in order to grow their businesses. Besides managing issues like cash flow and assets, small businesses must also think about taxes on income. Without a doubt, tax return filing can be
Earl wants to control the distribution of his estate when he dies and feels that a Will is a good idea. He saw an ad on social media about do-it-yourself Wills and decided to buy Will kit. The booklet he received a few weeks later contained lots of useful information.
With the December market correction in both the US, Canada and elsewhere slowly receding into the past, it is a good time to review what exactly happened and how clients have reacted to the recent events. To put December into context, it was the most severe correction late in
Many people look forward to retiring, and going to live beside a golf course, on the coast, or somewhere else where they have always dreamt of. It’s enticing to think that your leisure time can be spent pursuing activities you have worked and longed for all your life. In fact,
If your way of assessing the state of the world is only through stories gleaned from the regular media, then you are likely missing out on all the marvelous and wondrous advancements of human society over the previous years and decades. With news reports during the final months of
It is possible for just about everybody to achieve financial success. Getting there is usually not a matter of financial wizardry. By following some basic principles, you can make your financial dreams come true: Set Objectives Goal setting is the foundation of achieving financial success. If you don’t have
Ralph became concerned about what would happen to his hard-earned estate after seeing what had happened to some people he knew. Vivian had remarried and chose to cut costs by using a do-it-yourself will kit. Because she had not allowed for the obligations set out in her deceased husband’s
As you look to 2019 for a fresh beginning, we invite you to set your intentions to have a breakthrough year! To do that, you are invited to reach for and set some Big Hairy Audacious Goals (BHAG)! That’s right! Why look to set incremental goals when you can
Introduced in 1957, the Registered Retirement Savings Plan (RRSP) is an incentive program to entice the Canadian population to save for retirement. In order to get the most from this type of savings vehicle, it is essential to plan future investments and avoid panicking to meet deadlines or taking action