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 […]
https://www.youtube.com/watch?v=ltEuoPcV71w&t=1s Your son asks if you’ll be a co-signer so he and his wife can qualify for a mortgage. Or a friend who’s struggling financially wants to know if you’ll co-sign a car loan. If anyone asks you to co-sign a loan, it’s not a decision to take lightly. You would be obligated to make […]
https://www.youtube.com/watch?v=0uYwJpb5qQo&t=4s When markets have been below their peak for some time, it’s helpful—psychologically and financially—to keep in mind that down markets have always been followed by recoveries. Psychologically, you’ll feel reassured that better days are ahead. Financially, you’ll be able to continue investing while prices are lower. No one, experts included, knows when a bear […]
https://www.youtube.com/watch?v=URGgo3t7xCs&t=6s Retirement planning can be overwhelming, especially when you have rental properties or real estate. You may be wondering whether to keep the properties and live off the income or to sell the property and invest in the financial markets. In this article, we will share a story of how we helped one of our […]
Just a friendly reminder that the deadline for filing your taxes is coming up soon. To help ensure you’re prepared and organized, here’s a quick tax filing checklist to go through. Deadline for filing your 2022 tax return: May 1, 2023. Download your PDF Disclaimer By providing your email address, you provide us with your express […]
It is a fact that tax implications are an inevitable part of financial decision-making. However, many individuals struggle to grasp the nuances of tax regulations and often find themselves at a loss when it comes to minimizing their tax exposure. In this article, we would like to share a case of our clients. We believe […]
https://www.youtube.com/watch?v=obziEU0_jtk&t=1s Last summer, Old Age Security (OAS) benefits permanently increased for the first time in almost 50 years. The payment increase is 10% and applies to seniors aged 75 and older. This increase gets a further boost when seniors delay starting their OAS benefits. Monthly payments increase by 0.6% for each month you delay payments […]
https://youtu.be/7XS-0G0lGaI RRSP: Registered Retirement Savings Plans RRSPs allow you to invest for the future while reducing your tax liability in the present, subject to certain limits. Investment growth within the plan is sheltered from tax until it is withdrawn. RRSPs can be used in conjunction with tax-free savings accounts (TFSAs) and non-registered investments to supplement […]
We often see clients looking to make contributions to their RRSPs in order to save on taxes and plan for their future retirement. This was the case for two clients of ours, Megan and Mark, who were interested in making a contribution using funds from their non-registered account. One of the key factors that influenced […]
https://www.youtube.com/watch?v=mSqKKg7zWTQ When you leave an inheritance to your loved ones, you intend to give each person some welcome help in meeting their financial and life goals. No one wants an inheritance to cause discord among the beneficiaries. Unfortunately, that can happen in certain situations if plans aren’t shared with beneficiaries in advance. By communicating your […]
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