Financial Library

Economic Crisis Teaches Important Lessons

Posted on: June 8, 2020

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If any good can come from an economic downturn it is that people are forced to think more seriously about their financial success strategy. Many people affected by the economic damage wrought by the recent COVID-19 pandemic will change their financial habits by cutting back on spending, reducing debt and increasing their savings. But, for many other Canadians, life will likely continue as usual where the pursuit of an optimal life style now overshadow concerns about future financial security.

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When Should I Start Receiving CPP?

Posted on: June 8, 2020

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retirement planning

If you apply on your 60th birthday, you'll get about 36% less of the age 65 monthly pension. But, if you wait until you're 70, you'll get about 42% more. Should you hold out for the higher income, or start early?

Start early and you're sure to get it. If you wait, and die before it starts, the income you could have had is lost to you and your heirs forever.

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What Comes Next?

Posted on: May 11, 2020

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investment planning

With Canada and many other countries practicing physical distancing or participating in complete lockdowns because of the COVID-19 virus, thoughts are turning to what the world may look like after the restrictions have been lifted.

Many people are expressing a desire for life to return to how it was before the arrival of this public health emergency. However, it is likely that some aspects of our lives will have been irrevocably changed because of COVID-19.

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Investing Smart During Uncertain Times

Posted on: May 11, 2020

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investment planning

Warren Buffett has a classic rule when it comes to market volatility:

“Be fearful when others are greedy and greedy when others are fearful”.

Investor anxiety normally tends to rise in step with market volatility because most people are concerned about trying to pick the best time to buy or sell. For instance, making investment decisions would be infinitely easier if there was complete certainty about when markets were headed for a bear market or a correction.

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Yes, Trudy, there are death taxes in Canada

Posted on: May 11, 2020

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estate planning

Ottawa dropped Estate Taxes over forty years ago. All the provinces did away with Succession Duties by 1985. We thought that was the end of taxes arising at death. We were wrong.

Ask yourself these questions: