The following are some ideas for individuals and business owners to reduce income taxes as 2024 draws to a close. Individuals should consider doing their RRSP contributions before the RRSP
Recent college or university graduates with their first career job have an understandable itch to spend money after years of living on Kraft Dinner. Yet this is the ideal time
We all know how easy it is to romanticize our retirement years. Many of us make lengthy lists of things we will do and experience in those golden years. We
As Canadian and US stock market indexes hit new highs this year, many investors began expressing anxiety about a possible ‘correction’. Financial media personalities have also been speculating about the
Before a skyscraper can reach for the clouds, it needs a very strong foundation. Once the building is complete, the foundation is virtually unseen. The same goes for our financial
Recently, a client wanted to leave all of their money to two charities through their Will. They wanted to leave a legacy to a few charities, and they didn’t have
It is not uncommon for an individual or organization, such as a charity or community tennis club, to consult a financial advisor regarding investment returns that can be generated on
Most people have a false sense of security by believing that they will not be victims of a critical illness like cancer, heart attack or stroke; and if they are,
Ralph and Mary have accumulated a nice estate, a good portion of it in cash. They want to leave it all to their children when they die, but they also
A new baby in the family brings many hopes, dreams and expectations. This can often include thoughts about how their lives can be better than that of their parents. And
Insurance surrounds each of us every day: When you get in your car, when you come home to your residence, and while you work. Insurance is always in the background
As John nears retirement, he is becoming concerned about covering his future living costs with income from only interest-bearing investments. Along with many other investors globally who have poured trillions
As with many retirement savers, it took two major stock market events (Global Financial Crisis, Global Pandemic) to convince Adam and Sonya that trying to ‘time the market’ or pick
History tells us about half of marriages in Canada end in divorce. Andrew and Sara are about to end theirs and are concerned about the changes that will have to
By far one of the most crucial financial strategy steps is accurately estimating retirement expenses. Correctly accounting for retirement living expenses is critical to ensuring that retirees do not outlive
In the last article Sue had a capital shortfall of $400,000 in order to support her desired retirement lifestyle. This amount will vary for each individual and will be larger
There are things you need to live a healthy life, like a place to live and food to eat. There are also things that you’d like, such as a warm
Canadians are living longer, healthier lives. According to Statistics Canada (2018), the average life expectancy is 80 years for men and 84 years for women. This means your retirement years
Financial success methodologies have evolved over the past 30 years with the advent of increasing computational power. Originally, planning was a simple spreadsheet projection of your current situation, plus some
Our parents raised us; we moved out, had children of our own and raised them. Then our children moved out and had children of their own to raise. It was
According to the Canadian Anti-Fraud Centre1, in 2023 there were over 62,000 reported fraud victims. Seniors in Canada are getting bilked out of more than $500 million every year. It
The purpose of this series is to educate consumers on some simple principles that will take the mystery out of the often complex world of managing one’s financial affairs. The
A letter arrives from Canada Revenue Agency (CRA). You are being audited. Panic ensues as you wonder what you did wrong and why the CRA is targeting you. ‘There must
Recent studies * reveal that a large majority of so-called Baby Boomers are uncertain about their preparation for retirement. Arguably, the have it my way generation did not all follow
The neighbors have a shiny new sport utility vehicle to tow their travel trailer. They take a two-week tropical vacation every winter. Their family room is equipped with the latest
Uncertain economic times and rising rates of unemployment often create a new breed of desperate people. Some turn to frauds and scams as a way out of their troubles. Others
Insurance is, and has always been, a tool to manage risk. If you cannot afford to ‘lose’ something, it is best to insure it. As with many other financial situations
Some financial decisions are made without enough thought given to the long term consequences. TIME – a critical element for any successful long-term financial strategy – can affect different situations
These days, having a career presents many more new rewards and challenges than it ever used to. What we used to take for granted – including our work location –
Bob and Lisa are wondering just how their retirement will turn out. After all that’s happened over the past few years, their RRSP accounts haven’t grown as much as they
