Hitting Your Financial Goals—Despite Economic Uncertainty
Let’s be real—there’s always something going on in the world that makes you question if now is the right time to invest or save. One minute it’s inflation, the next it’s interest rate hikes or global turmoil. But here’s the truth: financial success isn’t about timing the perfect moment. It’s about building habits and sticking […]
Are You Missing the Mark on Retirement Planning?
Here’s the thing—many Canadians are great at setting money aside in their workplace retirement plans. But when it comes to actually figuring out how much they’ll need in retirement and whether they’re on track to get there? That’s where things fall apart. A survey from Ipsos Reid1 found that only about half of Canadians follow […]
The Unexpected Reality of Eldercare
Scott Havens* is the kind of guy everyone wishes they had in their life. At 35, he’s the go-to mechanic in Vancouver who never hesitates to lend a hand—whether it’s helping a buddy fix a transmission or pulling over to help a stranger with a stalled engine. He’s the definition of dependable. But nothing prepared […]
The Magic Ingredient Behind Wealth (It’s Not What You Think)
There’s a story that gets passed around the financial world—about an advisor out in Omaha, Nebraska, not far from Warren Buffett’s hometown turf. Let’s call him Fred Smith. Fred’s built a reputation for helping local farmers understand the real power behind long-term investing. Nothing flashy. No gimmicks. Just simple, solid advice. When you walk into […]
Have You Protected Your Most Valuable Asset?
Here’s a question that most people don’t think about: What’s your most valuable asset? Your house? Your investments? Maybe your car? Actually, it’s none of those. Your most valuable asset is your ability to earn an income. It’s the engine that keeps everything else in your financial life running—your mortgage, your groceries, your kids’ sports […]
Late-Career Retirement Planning Possibilities
Remember when the government rolled back the age for Old Age Security (OAS) eligibility to 65? A lot of Canadians let out a collective sigh of relief. Even a few hundred bucks a month can make a big difference in retirement, especially if you’re trying to stretch your dollars. But as helpful as that was, […]
Top 10 Tax Filing Mistakes to Avoid
Filing taxes isn’t exactly fun, but making mistakes can turn an already frustrating process into an expensive one. The last thing you want is to deal with penalties, delays, or an unexpected audit. So, let’s go over the top 10 tax filing mistakes and how to avoid them. 1. Missing the Deadline Procrastination can be […]
Protect Yourself from Online Financial Scams
Hey there! The online world is full of opportunities—but unfortunately, it’s also full of scammers looking to take advantage of unsuspecting people. According to the Canadian Anti-Fraud Centre (CAFC)1 over $600 million was lost to fraud in 2024. The first line of defense against fraud is simply educating oneself about the facts. The good news? […]
Estate Planning for the Terminally Ill: A Practical Guide
If you’re between 35 and 65, chances are you know someone who has been diagnosed with a terminal illness. It’s a tough reality, but if there’s still time, helping them get their estate in order can provide peace of mind for them and their loved ones. Why Estate Planning Matters No one wants to see […]
How to Weather Economic Uncertainty
With all the media talk about US / Canada trade tensions these days it’s a good time to discuss some wise strategies for times of economic uncertainty. Whether you’re still saving for retirement or already enjoying it, negative economic news can shake confidence. The good news? A solid plan can help you stay on track. […]
Could Your Finances Survive a Critical Illness?
Nobody wants to think about it, but what if you get seriously ill? We all like to believe it won’t happen to us – cancer, a heart attack, or a stroke – are things that happen to other people. And we might assume that if something does happen, the healthcare system will take care of […]
Sudden Wealth: Choices and Opportunities
Okay, let’s talk about what happens if you suddenly find yourself a million dollars richer. Imagine an inheritance or maybe you invented the next big thing. It’s a life-changer, right? Suddenly, early retirement isn’t just a dream, it’s a possibility. But here’s the catch: a lot of people who suddenly come into money aren’t prepared […]
True Costs of Financial Procrastination
Have you ever thought, “I’ll start saving next month” or “I’ll get serious about my financial strategy next year”? If so, you’re not alone. Procrastination is something we’ve all been guilty of at some point. However, when it comes to your finances, the costs of waiting can be much higher than you think. Let’s explore […]
Insurance Essentials for Small Business Owners
Starting a small business often begins with a great idea and a desire to build something meaningful. For many owners, their business isn’t just a source of income—it’s how they provide for their families. But here’s the thing: most small businesses rely heavily on the health, skills, and vision of the owner or a key […]
The Retirement Dilemma: Part 2
In retirement, most people aim for financial security—but rising costs can make that harder than expected. Let’s talk about it. Many seniors prefer to invest in “safe” options, but here’s the reality: your expenses don’t stay the same. Costs like hydro bills, property taxes, and healthcare typically climb year after year. So, what’s the plan? […]
New Years Financial Resolutions
Jack and Diane want to improve their financial situation and feel that making financial New Years resolutions and implementing them is a good start. To help identify their priorities, they made the following list: Set Objectives – Goal setting is the foundation of achieving financial success. If they write down their goals, it will help Jack […]
More Overlooked RRSP Tricks
More than 65% of Canadians have made deposits to Registered Retirement Savings Plans (RRSPs). Many do so just for the tax savings, but here are some often overlooked tricks you should be aware of: RRSP loans – Those who use investment funds for their RRSPs should be well aware of the strategy of ‘buying low and […]
The Retirement Dilemma: Part 1
In the mid – 1960s conventional wisdom (or motherhood) for retirement planning said that you should take all of your investments and put them into government bonds or fixed income type products. The thinking was that you could not afford to take any ‘risk’ in your retirement years. Thus it was believed that guaranteed investing […]
A Conversation About Your Financial Future
Meeting a new financial advisor for the first time can feel a bit daunting. What should you say? How much should you share? And perhaps most importantly, what should you expect from the meeting? There are generally two ways to approach your relationship with a new advisor. Approach One: Hand over all your financial details […]
Habits That Build Wealth
What’s the secret to building and maintaining wealth? For the rich, it’s not just about earning a high income—it’s about the habits they cultivate. These strategies don’t just help them grow their wealth; they also ensure it lasts for generations. Start today and take more control of your financial future. Lesson 1: Live Below Your […]
How NOT to Plan Your Estate: A Cautionary Tale
Let’s face it—your death will create challenges for your loved ones. These challenges will fall into three main categories: emotional, legal, and financial. The good news? You have the power to minimize these issues. The bad news? If you want to make things worse, you can follow the “how not to” approach outlined below. Of […]
Year-End Tax Planning Ideas
The following are some ideas for individuals and business owners to reduce income taxes as 2024 draws to a close. Individuals should consider doing their RRSP contributions before the RRSP rush in the first 60 days of 2025. You can get better values by buying today than when all the last minute procrastinators rush to […]
Bad Excuses for Putting Off Investing
Recent college or university graduates with their first career job have an understandable itch to spend money after years of living on Kraft Dinner. Yet this is the ideal time in life to start developing the correct habits that will lead to a comfortable future lifestyle. But we often hear reasons why now is not […]
Weighing the Cost of Your Retirement Dreams
We all know how easy it is to romanticize our retirement years. Many of us make lengthy lists of things we will do and experience in those golden years. We have little doubt about our ability to enjoy the perfect blend of leisure and excitement, which is what makes the very idea of retirement seem […]
Market Highs vs. Your Goals
As Canadian and US stock market indexes hit new highs this year, many investors began expressing anxiety about a possible ‘correction’. Financial media personalities have also been speculating about the timing of correction from these recent market highs – following a strong run over the past year. Let’s put this into perspective. Would these same […]
Basics For a Wise Financial Strategy
Before a skyscraper can reach for the clouds, it needs a very strong foundation. Once the building is complete, the foundation is virtually unseen. The same goes for our financial strategies. Following are the basics of a strong financial foundation: Budget – Governments and businesses use budgets to properly allocate resources. It’s known as good […]
Your Legacy Plan and Charitable Giving
Recently, a client wanted to leave all of their money to two charities through their Will. They wanted to leave a legacy to a few charities, and they didn’t have any close family members. Here is her situation: Age 80, $550,000 in savings (75% non-registered and TFSA), with income of $70,000 annually from pensions and […]
Why Time Matters
It is not uncommon for an individual or organization, such as a charity or community tennis club, to consult a financial advisor regarding investment returns that can be generated on some spare cash that is not needed in the immediate future. As a result, the issue of investment “time horizon” is brought to the forefront […]
But I’m Invincible
Most people have a false sense of security by believing that they will not be victims of a critical illness like cancer, heart attack or stroke; and if they are, that the healthcare system will look after them. Nothing could be further from the truth. The reality is, according to the Heart and Stroke Foundation, […]
Passing it on to Your Heirs
Ralph and Mary have accumulated a nice estate, a good portion of it in cash. They want to leave it all to their children when they die, but they also want to do something for them today. Being part of the Savings Generation, they are reluctant to give large sums to their kids today, as […]
