Protecting your Most Valuable Asset
Posted on:Most of us take for granted that we will be able to get out of bed every morning and go to work to earn a living. We base all of our financial plans on this seemingly obvious concept. Our most valuable asset is the ability to earn an income. Unfortunately, it is also one of the most vulnerable and most of the undesirable things that can affect it are beyond our control. You have life insurance, a…
Read More
Your Legacy Plan and Charitable Giving
Posted on:Recently, a client wanted to leave all of their money to two charities through their Will. They wanted to leave a legacy to a couple of charities that were close to them and they didn't have any close family members. Here is her situation: Age 80, $550,000 in savings (75% non-registered and TFSA), with income of $70,000 annually from pensions and RIFS while living in an upscale retirement…
Read More
Inheritance Doesn't Have to Wait
Posted on:The Baby Boomers are making history as the largest retirement migration ever seen. However, it's their parents who hold the most massive accumulation of wealth which is now being transfered to future generations. Estimated to be well in excess of a trillion dollars, the traditional rules of inheritance are changing. More than half of Baby Boomers are expecting to share in this great wealth…
Read More
Taxes, RRSPs and You!
Posted on:A recent media headline marveled at how far TFSAs have come and how they are catching up to RRSPs as a preferred investment vehicle for Canadians. Often however, this choice is made at the expense of contributions to an RRSP. With the RRSP contribution deadline fast approaching on March 2nd, it is time to take a look at the benefits of using an RRSP, even for many modest income earning Canadians…
Read More
Overlooked RRSP Strategies
Posted on:There are a number of common RRSP strategies that many of us use on a regular basis. These include making regular monthly deposits, borrowing to make RRSP contributions and making contributions at the beginning of the year instead of the end of the year. Here are some strategies that may get overlooked: Take advantage of the pension income amount - There are more and more people working well…
Read More