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Interest Rates and Your Financial Strategy

Posted on: September 11, 2023
Tags: 
investment planning

Working towards financial independence includes assumptions about how the world operates and how we navigate within that environment. These assumptions work best when the world remains the same allowing you to make reasonable future projections.

Challenges come when changes occur in the operating environment which may require reassessing wealth building strategies. The disruptions from early 2020 (Covid, supply-chains, etc.) seem to have ushered in some significant changes in our world.

How to Get Income Out of Your RRSPs

Posted on: September 11, 2023
Tags: 
retirement planning

Roger and Linda, like many Canadians, have saved for years for their retirement. They took advantage of RRSPs and now have a substantial amount of savings. As Roger will turn age 71 this year, they need to decide on the best strategy for using their RRSPs for their retirement income needs.

Until now, Roger and Linda have been relying on their non-RRSP investments and government benefits so their RRSPs could continue to grow tax-postponed. Roger has to choose from the following by the end of the year or all his RRSP funds will be fully taxed:

Tips and Traps for Handling Estates

Posted on: August 7, 2023
Tags: 
estate planning

Here are some common TIPS Canadians should consider when assisting family members with handling their financial affairs while alive. And some common TRAPS that may occur once an Executor is working on distributing the Estate assets to the heirs.

It is a common practice to have all of Mom's or Dad's bank accounts set up in joint name with an adult child. This allows the child to clear out the bank accounts when Mom or Dad passes, and to avoid Probate (Letters of Administration etc.).

Financial Resilience

Posted on: August 7, 2023
Tags: 
investment planning

You've likely heard the term "financial resilience". You may even know it refers to a household's ability to navigate and overcome financial stress and hardships that life inevitably throws at you. But did you know that financial resilience can be measured?

Retirement Income Planning: Simplified

Posted on: August 7, 2023
Tags: 
retirement planning

Retirement is a significant life event that requires careful planning and preparation. One of the most important aspects of retirement planning is figuring out how to generate income during your post-work years. In this article, we will discuss some wise retirement income strategies that can help you make the most of your retirement savings.

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