Year End Tax Planning Ideas
November 14, 2023
With the year’s end fast approaching, here are some ideas to minimize your 2023 tax bill. The first idea is to look at harvesting any tax losses in an
With the year’s end fast approaching, here are some ideas to minimize your 2023 tax bill. The first idea is to look at harvesting any tax losses in an
There is almost always chatter in the media about the next possible correction or recession. The most recent buzz is about a possible US recession where Canada would likely follow
Monica was alarmed to hear from her mother’s financial advisor expressing concern over some unusual financial requests. She called her mom, who seemed fine, but Monica couldn’t get the conversation
Working towards financial independence includes assumptions about how the world operates and how we navigate within that environment. These assumptions work best when the world remains the same allowing you
You’ve likely heard the term “financial resilience”. You may even know it refers to a household’s ability to navigate and overcome financial stress and hardships that life inevitably throws at
Investment icon Warren Buffett says there’s wisdom in being “fearful when others are greedy and greedy when others are fearful.” 1 He first gave this advice in 1986 and has
The Tax-Free Savings Account (TFSA) was introduced in 2009 to offer Canadians an incentive to save over their lifetimes. TFSAs provide tax-free growth, flexible investment options, and easy set-up and
If you are a prudent investor, then you have a financial retirement plan that will ensure you have sufficient funds for the lifestyle you envision after you stop working. What
From listening to the media and online commentators, we have identified two key observations that can impact your efforts to build assets and wealth over time. The first is
It’s challenging to be patient in a fast-paced, immediate gratification world, but some things are worth the wait. Consider, for example, how a powerful financial reality (compound interest) can help
During our ongoing weekly discussions with clients, we occasionally get questions from individuals about their approach to investing – particularly in terms of fees and value. The questions are
Getting emotional about investments can easily lead to poor decisions as investors fall prey to negative thoughts and fears. The chart below helps to illustrate the emotional aspects of investing.
When investment markets officially hit “bear market” territory in June 2022 – while Central Banks in North America and elsewhere were continuing to raise interest rates – questions began swirling
Looking back over the past few years, one thing is certain – we can never be absolutely sure what the financial markets will do at any given time. We can
The investment markets have been very “volatile” since the start of 2022. Volatile is just financial industry jargon that means markets move up and down. For retail investors, the biggest
Business, investing and life in general follow predictable ebbs and flows. The Business Cycle is no exception. This is the cycle whereby the economy goes through strong growth periods, weaker
Let us imagine that you have a plan to be a wise investor and use your funds to make strategic deposits into your various investment funds. You’ve heard about the
There will likely be many impacts on the global economy resulting from the Russia-Ukraine War. The biggest casualty will most likely be the end of the “business as usual” mindset
One way to curb rising inflation is to increase interest rates, and that is what the Bank of Canada (BoC) is expected to do incrementally – over the next year.
How you approach financial decision making on a day-to-day basis is likely to be the most important ingredient in your life and financial success. The key is to be focused
In a December 2021 poll, 87% of Canadians surveyed reported that the rising price of everyday goods was their top source of anxiety1. The last period that caused this level
The RRSP deadline for 2021 deposits is fast approaching on March 1st. Some of the basics of the benefits of RRSPs are worth repeating, especially for Millennials and other younger,
A year ago, Faye and David decided to get smart around saving money. “We both love the idea of retirement,” says Faye. “But we could never seem to close the
Time is one of those daily realities that we usually take for granted. But when it comes to building wealth and managing investments, it is tremendously important. How you view,
“At this point last January, I was determined to change my relationship with money forever,” says Daniel. This is a New Year’s resolution he shared with 69% of Canadians last
Many investors are very focused on annual returns and others worry about losing money if the economy goes into a recession. The reality is that how to approach or react
According to the Financial Consumer Agency of Canada1, good health is determined by mental, physical, and financial wellness. In other words: mind, body, and money. Physical and mental health makes
Whether you’re expecting a child, planning to have one soon or have just become a new parent, you’re about to embark on one of the most rewarding journeys that life
There are moments in time when significant economic shifts occur that alter the future. One such moment occurred in late August 2019 at the close of the Jackson Hole Economic
The point of the headline is to distinguish what kind of investor you are. Do you follow storylines as described in the media headlines, or do you rely upon numbers
