Good investing outcomes are often shaped less by finding the next winning stock and more by avoiding a handful of common mistakes. For Canadian investors, concentration, poor timing, unclear goals, and unrealistic expectations can quietly do real damage over time.
Introduction: Making More Money Isn’t the Entire Answer We’ve seen households earning roughly the same amount, land in totally different places. One with everything scattered across random accounts. The other is building real options: flexibility at work, more control over taxes, a clear plan for family goals, and the ability to make decisions without that […]
https://youtu.be/AGK9Rs4Aqqk Introduction: The quiet problem most people don’t see Here’s a slightly uncomfortable truth: a lot of Canadians are doing “everything right” financially and still leaking wealth. They earn well. They invest consistently. They avoid obvious money mistakes. Yet a big chunk of what they build never really becomes theirs to keep. It drifts away […]
People often assume they can bequeath their assets to whichever person or organization they choose—but that isn’t always the case. In some circumstances, the courts may interfere with a person’s autonomy when leaving their wealth to an individual or charitable cause. Factors that may support a variance in estate distribution Support obligations In provinces and […]
Withdrawing from an RRSP before you need the cash can feel counterintuitive. For some retirees, however, lower-income years before pensions, CPP, OAS, and RRIF minimums begin may offer a valuable opportunity to manage lifetime tax.
If an individual loses the ability to manage their financial affairs, some people believe the spouse can simply take over. However, that’s only permitted if the spouse was named in a power of attorney document (mandate in Quebec). In a power of attorney, you appoint someone to manage your finances if you suffer a cognitive […]
Canada is the only G7 nation without an estate or inheritance tax, but the government still collects tax on Canadians’ estate assets, often at the top marginal rate. For example, assets in a Registered Retirement Savings Plan (RRSP) or Registered Retirement Income Fund (RRIF) are taxed as income on the final tax return. Also, 50% […]
When it comes to giving an allowance or not giving an allowance, there are no hard-and-fast rules to follow. Different parents have different approaches, and the only right way is what’s right for you. Here are a variety of viewpoints to consider and choices to make to help you determine which practices suit your personal […]
As a retiree with a Registered Retirement Income Fund (RRIF), you have a minimum amount you must withdraw each year, starting no later than the year after you opened the RRIF. But what if you have one or more years when you don’t need the entire amount, or any of it, to support your retirement lifestyle? Also, […]
The day when you no longer need to work to cover your current and future cost of living, including realizing your retirement dreams—that’s your financial independence day. To identify it, some people try using one of the many online retirement calculators that ask you to input information so you can find out if you can […]
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