https://www.youtube.com/watch?v=AOov5_cVscg The Canadian Securities Administrators, an umbrella organization of provincial and territorial securities regulators, introduced a measure two years ago to help protect investors’ financial interests. Investors could give their advisor the name of a “trusted contact person.” Meeting a need An advisor can contact this individual if the advisor believes the investor may be […]
As you step into your 40s, you’ve likely achieved significant milestones in your professional life. With a solid foundation built, it’s time to shift your focus towards long-term financial planning. Your 40s present a unique opportunity to reassess your financial goals, adapt your retirement savings strategy, evaluate insurance coverage, and lay the groundwork for a […]
With a successful career and significant invested assets, your 30s is the perfect time to take charge of your financial future. Financial planning in your 30s is not only about building wealth; it’s about securing a bright financial future, retiring comfortably, and achieving financial freedom. At Ferguson Financial Planning, we understand the unique challenges and […]
As people approach retirement, one of their biggest concerns is reducing taxes in their golden years. Strategic planning of how Registered Retirement Income Fund (RRIF) accounts are liquidated during retirement can be a great way to minimize taxes. In this article, we will explore how converting RRSP to RRIF accounts and withdrawing minimum annual payments […]
https://www.youtube.com/watch?v=pGFFfaI4SdM Unless you prepare properly, your executor could end up feeling more like a detective. Where are receipts for the final tax return? Where’s the life insurance policy? What, there’s an old bank account from 20 years ago? The job of the executor is involved enough without having to search for information and documents that […]
https://www.youtube.com/watch?v=WOsgL9J5wGM Have you thought about where you’ll enjoy your retirement? Hundreds of thousands of Canadian retirees believe the best place to spend winter is in the U.S. Sun Belt and other warm destinations. Many purchase vacation properties in Canada where they stay for long stretches throughout the year. Some are quite happy to stay put and others […]
When it comes to investing and real estate, many clients who are purchasing property or real estate ask whether they are better off borrowing money from the bank or selling their investments to make these types of purchases. This is a common dilemma that many investors face when trying to balance their real estate investments […]
Buying a house is a significant investment, especially for unmarried couples with blended families. Lucas and Elsa are in this situation, with six children and an agreement in place regarding what happens to their home if their relationship doesn’t work out. However, they have overlooked an important aspect of their estate planning. What happens if […]
https://www.youtube.com/watch?v=pwkxcp9Hkqk Today’s housing market remains challenging, leaving many first-time home buyers hard-pressed to come up with a down payment. So, quite often, parents or grandparents want to help out. As of April 1, 2023, a new avenue has opened to help fund a down payment: the First-Home Savings Account (FHSA). Although you can’t contribute directly […]
https://www.youtube.com/watch?v=Mcjv4vLYBk4&t=10s Say that the holder of a Registered Retirement Savings Plan (RRSP) names their spouse as the beneficiary. Later, the couple divorces. The RRSP holder removes their ex-spouse from their will. However, with all the activity surrounding the divorce, they neglect to change the RRSP beneficiary designation from their ex-spouse to their child. If the […]
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