Financial Library

Your Most Valuable Asset

Posted on: April 10, 2017

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What is your most valuable asset? Many people will think about this question and come up with a variety of answers, but most people will likely say their home is their most valuable asset, while others may say a business they own or a retirement portfolio.

But for some people, understanding the answer to this question comes too late. Without warning, bad health can take its toll which can leave you disabled or severely ill and unable to continue with your everyday responsibilities.

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Avoiding Family Conflicts After a Death

Posted on: April 10, 2017

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estate planning

will

No one likes to think about their own mortality, but making a proper estate plan can help to lessen the grief of loved ones left behind. Alternately, without a written estate plan, surviving family members are often saddled with the responsibility of making estate decisions without a clear understanding of the deceased’s wishes.

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Fulfilling Your Wishes

Posted on: March 13, 2017

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estate planning

With many Baby Boomers now moving into their sunset years, the growing concern is how they will efficiently and effectively plan for the transfer of their wealth to the next generation?

A recent survey by RBC Wealth Management estimated that the amount of money changing hands over the next twenty years is about $400 billion. Yet, only 22 per cent of wealthy Canadians have a detailed Estate Plan on how they plan to pass on their assets according to this survey.*

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It Doesn't Pay to Procrastinate

Posted on: March 13, 2017

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financial strategies

Many people have no idea. Some people have a vague idea. A few people, a very few, have it all worked out. When it comes to retirement planning, many people do not take action until forced to by a mid-life event (career change, death of loved one) or by hearing about seniors running out of money.

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RRSP Vs. TFSA: Which is Better?

Posted on: February 13, 2017

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rrsp

tfsa

With the lifetime contribution room of a TFSA now at $52,000 for most people, TFSAs are now a serious portfolio and investment planning alternative to making RRSP contributions. So which is better you ask? Well, it depends…

If you are a Canadian with significant assets and savings then maximizing your TFSA makes sense as a retirement income planning strategy. The income from it during your retirement years is non-taxable and will not trigger any Old Age Security clawback which starts at $74,780 in 2017.