Starting in January 2017, the allowable cash value build up under tax rules in life insurance policies will change. The federal government introduced changes in December 2014 that are designed to modernize life insurance exempt testing rules as they have discovered that people are living longer and that their insurance
If you are sitting neck deep in debt, living beyond your means, and still calm and collected about your own financial well-being, then chances are, you are one of the many millions of people expecting an inheritance at some point in the future. Like other inheritance recipients, perhaps you are
Convert RRSPs to income – Roger and Sarah, retired for several years, have delayed taking income from their RRSPs so they could enjoy the tax deferred growth as long as possible. They must start an income from their RRSPs before the end of the year they turn age 71.
Statistics show that about half of marriages end in divorce. Ed and Liz are ending theirs and are concerned about changes that will have to be made to their financial and estate plans. Some considerations, also in common-law relationships, are: Life Insurance – The first thing that needs to
For years, you have been anticipating that last day at work. When it finally arrives, will it live up to your expectations? Retirement looks different in everyone’s imagination. For some, it means never wearing a tie again – for any reason. For others, it means traveling the world in
Canadians, like many nationalities, have a home bias when it comes to investing. The majority, if not all of their investments, such as RRSPs, real estate, mutual funds, segregated funds and businesses, are in Canada and are tied to its future economic growth. These Canadian investments could see reduced
Investors who start saving at a young age automatically have one of the most powerful assets on their side: Time. To get ahead financially, young adults should beware of some of the most common pitfalls discussed below that can all too easily sabotage a financial success strategy. Not Taking
Retirement used to mean a gold watch, a pension and spending time on hobbies or new pastimes. For some this may still be true, but times have changed and there are new realities that will affect how retirement will look in the future. The largest segment of the population
Increasingly consumers in major Canadian cities such as Calgary, Edmonton, Vancouver or Toronto, are faced with a dilemma of how to best manage their cash flow in the face of record mortgage and consumer debt. A February poll by CIBC asked Canadians whether, if they had extra funds they
One out of every three workers is covered by a registered pension plan (RPP). That’s over 6 million people. Like all hard-working Canadians, they are looking forward to a satisfying retirement. Nothing helps create a pleasant experience in your golden years like a steady stream of income every month.
Sometimes during social events or other gatherings a person will approach someone in the financial services business with an opening question: “I hear you do investments. What kind of returns can I expect?”. The type of questions asked by individuals are usually a good indication of their investing experience.
Over the last one hundred years, every new generation of Canadians has enjoyed the benefit of a longer life expectancy. With dramatic improvements in health care, the human life span has never been longer. Additionally, some have set their sights on early retirement. The combination of living longer and retiring
Estate planning can be an overwhelming process. Whether it is your own estate or you are the executor for someone else, the checklist can seem never-ending. A financial advisor can help make sure your checklist is complete before you start checking the boxes. One of those items on the
When it comes to making financial decisions most people focus on eitheror scenarios; that is making a tactical decision that may or may not reflect a larger financial strategy or wealth accumulation context. We often see these types of isolated, one-off decision choices in media articles that pose dilemmas
Most people list tax elimination or minimization as a top priority in their estate plans. For most, Registered Savings Plans (RSPs), which includes RRSPs and RRIFs, are one of their most significant assets. Most RSP accounts hold investment funds or securities that are very liquid, often accessible within a few
Quantitative Easing, otherwise referred to in the media as ‘QE’, refers to governments printing money out of thin air in order to stimulate economic growth. The US ended their program of QE in late 2014. The impression this left with many people was that the need for economic stimulus ended.
As they take the big step of moving out of their parents’ home and into their first apartment or other living quarters, the last thing on a young person’s mind is insurance. Yet, this is an area of great importance as they also begin their journey on the road to
Gordon and Anne lived in the same house for over 30 years. Now that their children are grown and it was becoming more difficult for them to manage the house, they decided to downsize. Here is what Gordon and Anne did to get the best price they could when they
With the RRSP contribution deadline of March 2nd fast approaching many people will reflexively make a deposit to their RRSP. Many will use online banking to throw money into the RRSP at the last minute vowing to figure out how to invest it later. But life gets in the way
Ted and Martha had about $600,000 in their RRIFs generating the minimum monthly income of almost $4,000 before taxes. Then disaster struck. Ted developed a cognitive impairment. Martha was able to look after him at home for a little over a year, but eventually had to place him in
In this, the final installment of the series, Financial Strategies Simplified, we take a look at how to stretch your retirement income no matter how modest the starting balance. There is a common misconception amongst clients that the day they retire their approach to investing and managing their RRSPs
The so-called RRSP Season is on its way. TV, newspapers and magazines will soon be full of advertising to get you to make your last-minute RRSP deposits. And then RRSPs and retirement planning are often forgotten until the next deadline. But a little advance planning will get you more from
Human nature includes the desire to predict and or anticipate both the immediate and longer term future. The reason for doing so is often to eliminate or reduce the fear or anxiety about the unknown. Human beings detest uncertainty and will do almost anything to reduce this uncertainty. In
Life insurance is initially purchased for any of a number of reasons. As time goes by, many people question why they are still carrying their policies as the original purpose no longer applies. Here are the three uses of life insurance: Estate Creation – When Ralph and Alice
Many parents wrestle with the dilemma of how much financial support to provide their children attending post-secondary programs. The costs today are much greater than what the parents paid for similar schooling some thirty or more years ago. Tuition costs alone have risen at least tenfold since the 1970’s
During a recent client call, the topics discussed included how the media influence people’s investment behaviors. This client woke up one day with an ‘epiphany’ thinking that a market correction was just around the corner. They did admit after a discussion that they had been reading something to that effect
Graham, like millions of other Canadians, has and uses credit cards. He often carries a balance from month to month and is concerned about making the monthly payments if he becomes disabled or gets seriously ill. Graham doesn’t want to stick his family with the balance if he dies before
A question sometimes asked in the media is exactly what is the role of a financial professional and how do they help the client meet their life goals and dreams. Why do you even need to engage the services of a planner or advisor when so much information is already
Statistics Canada reported in 2007 that most eldercare (75%) was provided by those between 45 and 64 years of age. These Canadians, often called the sandwich generation, are increasingly finding themselves spending their own savings to care for their elderly parents, while giving money to their kids for university and
The financial planner responded by saying that if the public stock markets were going down the drain, then real estate would follow as well. Why? Well it is one economy and we are all connected at the end of the day! Shocked, the veteran of 30-years in real estate responded
Starting in January 2017, the allowable cash value build up under tax rules in life insurance policies will change. The federal government introduced changes in December 2014 that are designed to modernize life insurance exempt testing rules as they have discovered that people are living longer and that their insurance
If you are sitting neck deep in debt, living beyond your means, and still calm and collected about your own financial well-being, then chances are, you are one of the many millions of people expecting an inheritance at some point in the future. Like other inheritance recipients, perhaps you are
Convert RRSPs to income – Roger and Sarah, retired for several years, have delayed taking income from their RRSPs so they could enjoy the tax deferred growth as long as possible. They must start an income from their RRSPs before the end of the year they turn age 71.
Statistics show that about half of marriages end in divorce. Ed and Liz are ending theirs and are concerned about changes that will have to be made to their financial and estate plans. Some considerations, also in common-law relationships, are: Life Insurance – The first thing that needs to
For years, you have been anticipating that last day at work. When it finally arrives, will it live up to your expectations? Retirement looks different in everyone’s imagination. For some, it means never wearing a tie again – for any reason. For others, it means traveling the world in
Canadians, like many nationalities, have a home bias when it comes to investing. The majority, if not all of their investments, such as RRSPs, real estate, mutual funds, segregated funds and businesses, are in Canada and are tied to its future economic growth. These Canadian investments could see reduced
Investors who start saving at a young age automatically have one of the most powerful assets on their side: Time. To get ahead financially, young adults should beware of some of the most common pitfalls discussed below that can all too easily sabotage a financial success strategy. Not Taking
Retirement used to mean a gold watch, a pension and spending time on hobbies or new pastimes. For some this may still be true, but times have changed and there are new realities that will affect how retirement will look in the future. The largest segment of the population
Increasingly consumers in major Canadian cities such as Calgary, Edmonton, Vancouver or Toronto, are faced with a dilemma of how to best manage their cash flow in the face of record mortgage and consumer debt. A February poll by CIBC asked Canadians whether, if they had extra funds they
One out of every three workers is covered by a registered pension plan (RPP). That’s over 6 million people. Like all hard-working Canadians, they are looking forward to a satisfying retirement. Nothing helps create a pleasant experience in your golden years like a steady stream of income every month.
Sometimes during social events or other gatherings a person will approach someone in the financial services business with an opening question: “I hear you do investments. What kind of returns can I expect?”. The type of questions asked by individuals are usually a good indication of their investing experience.
Over the last one hundred years, every new generation of Canadians has enjoyed the benefit of a longer life expectancy. With dramatic improvements in health care, the human life span has never been longer. Additionally, some have set their sights on early retirement. The combination of living longer and retiring
Estate planning can be an overwhelming process. Whether it is your own estate or you are the executor for someone else, the checklist can seem never-ending. A financial advisor can help make sure your checklist is complete before you start checking the boxes. One of those items on the
When it comes to making financial decisions most people focus on eitheror scenarios; that is making a tactical decision that may or may not reflect a larger financial strategy or wealth accumulation context. We often see these types of isolated, one-off decision choices in media articles that pose dilemmas
Most people list tax elimination or minimization as a top priority in their estate plans. For most, Registered Savings Plans (RSPs), which includes RRSPs and RRIFs, are one of their most significant assets. Most RSP accounts hold investment funds or securities that are very liquid, often accessible within a few
Quantitative Easing, otherwise referred to in the media as ‘QE’, refers to governments printing money out of thin air in order to stimulate economic growth. The US ended their program of QE in late 2014. The impression this left with many people was that the need for economic stimulus ended.
As they take the big step of moving out of their parents’ home and into their first apartment or other living quarters, the last thing on a young person’s mind is insurance. Yet, this is an area of great importance as they also begin their journey on the road to
Gordon and Anne lived in the same house for over 30 years. Now that their children are grown and it was becoming more difficult for them to manage the house, they decided to downsize. Here is what Gordon and Anne did to get the best price they could when they
With the RRSP contribution deadline of March 2nd fast approaching many people will reflexively make a deposit to their RRSP. Many will use online banking to throw money into the RRSP at the last minute vowing to figure out how to invest it later. But life gets in the way
Ted and Martha had about $600,000 in their RRIFs generating the minimum monthly income of almost $4,000 before taxes. Then disaster struck. Ted developed a cognitive impairment. Martha was able to look after him at home for a little over a year, but eventually had to place him in
In this, the final installment of the series, Financial Strategies Simplified, we take a look at how to stretch your retirement income no matter how modest the starting balance. There is a common misconception amongst clients that the day they retire their approach to investing and managing their RRSPs
The so-called RRSP Season is on its way. TV, newspapers and magazines will soon be full of advertising to get you to make your last-minute RRSP deposits. And then RRSPs and retirement planning are often forgotten until the next deadline. But a little advance planning will get you more from
Human nature includes the desire to predict and or anticipate both the immediate and longer term future. The reason for doing so is often to eliminate or reduce the fear or anxiety about the unknown. Human beings detest uncertainty and will do almost anything to reduce this uncertainty. In
Life insurance is initially purchased for any of a number of reasons. As time goes by, many people question why they are still carrying their policies as the original purpose no longer applies. Here are the three uses of life insurance: Estate Creation – When Ralph and Alice
Many parents wrestle with the dilemma of how much financial support to provide their children attending post-secondary programs. The costs today are much greater than what the parents paid for similar schooling some thirty or more years ago. Tuition costs alone have risen at least tenfold since the 1970’s
During a recent client call, the topics discussed included how the media influence people’s investment behaviors. This client woke up one day with an ‘epiphany’ thinking that a market correction was just around the corner. They did admit after a discussion that they had been reading something to that effect
Graham, like millions of other Canadians, has and uses credit cards. He often carries a balance from month to month and is concerned about making the monthly payments if he becomes disabled or gets seriously ill. Graham doesn’t want to stick his family with the balance if he dies before
A question sometimes asked in the media is exactly what is the role of a financial professional and how do they help the client meet their life goals and dreams. Why do you even need to engage the services of a planner or advisor when so much information is already
Statistics Canada reported in 2007 that most eldercare (75%) was provided by those between 45 and 64 years of age. These Canadians, often called the sandwich generation, are increasingly finding themselves spending their own savings to care for their elderly parents, while giving money to their kids for university and
The financial planner responded by saying that if the public stock markets were going down the drain, then real estate would follow as well. Why? Well it is one economy and we are all connected at the end of the day! Shocked, the veteran of 30-years in real estate responded