Financial Library

Estate Planning Tips and Traps

Posted on: April 11, 2022

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Julia wants to make sure that her estate passes to her heirs with as little hassle and cost as possible when she dies. She knows she needs a will and decides to buy a do-it-yourself will kit. When she opened it, she soon discovered some serious shortcomings.

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An Approach to Financial Decision Making

Posted on: March 7, 2022

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 and methodical about how you allocate money to each of your life’s goals on a daily, weekly, or monthly basis. This does not take great discipline or effort. It only takes a little focus and a little chart or reminder that you keep close by for reference.

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Inflation & Your Financial Strategy

Posted on: March 7, 2022

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 of financial concern for Canadians was the 1990s², when inflation reached a high of 5.5%. Today, it sits at about 4.8%, primarily due to transportation and supply chain issues and a sharp rise in energy prices. The associated increase in cost is passed along to Canadian consumers, who are concerned about how to pay for it.

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Where's the Money?

Posted on: March 7, 2022

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estate planning

When Dora died on August 1, 2018, most of her assets passed by Will to her adult children and were therefore subject to probate. $250,000 was in GICs and a fairly rapid transfer of this money to her heirs was expected. But that was not the case. They had to wait until March 2020 for it. That's right, almost two years.

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RRSPs, Taxes and Profitable Investing

Posted on: February 7, 2022

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investment planning

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, or beginner investors.

The goal of building investment assets is to someday (retire) be able to sustain your desired lifestyle without having to work to earn an income. This is often referred to as passive income where the assets generate the monthly income needed to maintain your standard of living.