Everyone would like to pay less tax. With many couples, the partner with the higher income invests more money into a Registered Retirement Savings Plan (RRSP).

It is that time of year again. We are bombarded by the media and your financial institution to purchase an RRSP.

What can you do if the RRSP (Registered Retirement Savings Plan) deadline is fast approaching and you do not have the money to make a contribution? You can try and borrow it.

The global economy has just experienced the broadest recession in decades. This has polarized investors into two groups.

Many people believe that their final wishes will be carried out by clearly stating them in their will. This false feeling of contentment can lead to multiple problems after death.

You prepared your will and have specified that the family cottage will be inherited by the children. But keeping the cottage in the family may not be that straightforward.

The Canadian Economy

In the always competitive environment of employee recruitment and retention, a strong employee benefit program can help keep employee turnover low.

In December 2008 the Registered Disability Savings Plan became available after being announced in the 2007 budget.

In May 2009 the federal and provincial governments proposed changes to the current Canada Pension Plan which are to be phased in starting in 2011.

Investors being burnt by the traumatic events of the stock market collapse and global recession are understandably making preservation of capital their first priority.

There is an old joke floating around that if you ask two economists to comment on the state of the economy, you will receive three answers back.

Over the course of the last several articles we have discussed the importance of having a financial plan.

The definition of estate planning is the process to transfer and preserve your wealth in an orderly and efficient manner to your heirs.

Estate planning is something that benefits everyone, whatever their circumstances- martial status, age, wealth, etc.

We hear the term “estate planning”, but often don’t recognize how it pertains to us. It can be a difficult subject to approach, as it forces us to face our own mortality.

Quarterly highlights (for the quarter ending June 30, 2009)

A question I am often asked is, “How much money do I need to retire?” That’s an excellent question but the answer is usually a moving target because our vision of retirement will

Overview

In December 2008 the Registered Disability Savings Plan became available after being announced in the 2007 budget.

Seniors are the fastest growing segment of our population. Health Canada projects that in the next 25 years, one quarter of the population will be over 65.

One question that is often posed to me is, “What’s the difference between a ‘segregated’ fund and a mutual fund?” On the surface they appear very similar in that you p

For thousands of Canadians, elder care is becoming a pressing concern.

Despite the continuing economic gloom, stock markets around the world continued a surging recovery from thei

The reality of the unrelenting, depressing economic news globally has shattered investor confidence.

The reality of the unrelenting, depressing economic news globally has shattered investor confidence.

The reality of the unrelenting, depressing economic news globally has shattered investor confidence.

Have you been asked by a family member or close friend to be the executor of his or her estate?

Many had hoped that the new U.S. administration under incoming President Barack Obama would change the economic momentum, not only in the U.S., but also on a global basis. As many view the U.S.

Market volatility does not need to lead to cold sweats, nightmares, and nausea.

January’s awful start to the year continued into February, with ongoing economic gloom and uncertainty.

There were a number of measures in the 2009 Federal budget geared to encouraging home ownership and home

The 2009 Federal Budget was p

Everyone wants to pay less tax.

Any thoughts of January marking a fresh start for equity markets or economies were dashed during yet another month of gloomy

No matter what the markets are doing, RRSPs are still one of the best ways you can save for long-term goals like retirement.

You may alre

As we head into a New Year, we find ourselves in one of the most uncertain and confusing times in memory.

Being diagnosed with a life threatening illness can be traumatic news on its own.  Finding out that you do not have access to all the med

Today we are going to talk about disability insurance which, unlike life insurance, is something you buy for yourself to protect your cash flow.

The third type of life insurance is a product called “Universal Life” and today we will discuss how it differs from traditional “Whole Life” insurance.

We talked last about term insurance which only pays a claim upon death and will terminate at a certain age without paying any benefit if the insured “outlives” the policy.

Over the next weeks we are going to talk about life insurance and how we can employ it to fulfil a need.

 

We previously discussed the importance of having a will to ensure that your wishes upon death are understood.  An Enduring Power of Attorney (EPOA) and

What does retirement look like for you?

Time has flown and your young little fledglings have grown.  Take a moment now to reflect on your own late teen years.  Your

Dividends are generally the distribution of profits earned by corporations and distributed to the shareholders of the corporation.

For the Quarter ended September 30, 2008

 

Today we are going to talk about capital gains and how these are given a favourable tax break over other types of income.

To

 

With the school year just around the corner, it’s a good time to assess your child care expenses and how the tax implications will affect you.

It is tough to believe that I am writing about health, fitness, and taxes all in the same article. No, this is not another episode of “The Twilight Zone”!

Just like seeing the sun shining on a gloomy day, it is also a tough concept to comprehend getting excited about seeing your investments decline in value.

Last week we discussed taking advantage of market volatility and the old adage “buy low” rather then “sell low.” Today we will discuss the disadvantages of investing in cas

Last week we briefly discussed stock indexes and what we are actually seeing when Peter Mansbridge tells us that the markets have risen or fallen on any given day.

We hear in the news every day about the rise or fall of the stock markets, by so many “points” or by this percentage. But what is it that is being reported and what does it mean?

Many of us have charities we support during our life and want to continue on after we die. The tax rules support this type of philanthropy, but we have to be sure we follow all the rules.

Chances are that if you are a small business owner you have spent a lot of time and effort building your business. That is why it’s so important to protect everything you have achieved.

Employers in Alberta today are faced with an ever competitive job market when trying to attract and retain qualified employees.

You draft a personal will to make sure your wishes are known. A buy-sell agreement is a “business will”.

When rental property is sold (or deemed to be sold, as on a death) there is a tax disposition.

In Wainwright and area the real estate market has never been stronger, and many people are investing in rental properties for income and potential capital growth.

When putting together a financial plan, whether it’s for a young person, a couple getting started, or someone nearing or at retirement, we need to make sure the foundation it is built upon is

Planning for Life’s Uncertainties

A good financial advisor will work with you to create a comprehensive financial roadmap based on your particular needs and stage of life.

The Old Age Security Program (OAS) is one of the cornerstones of Canada’s retirement income system.

As an Investment Specialist, I am often asked “When is the right age to begin receiving Canada Pension Plan benefits?” So that this question can be properly answered, there are three f

Get your RRSP out of the parking lot and back on the road to financial freedom

In Canada where taxes can almost be 50% of your taxable income, saving taxes should always be a priority of any financial plan.

It’s become an annual event every February.

It is that time a year again we are bombarded by the media and your financial institution to purchase an RRSP.

A solid financial plan can withstand market volatility

A solid investment plan can withstand market volatility

 

A solid investment plan can withstand market volatility

A solid investment plan can withstand market volatility

What does retirement look like for you?

The long awaited opening of Tim Horton’s certainly signifies the continued economic growth and prosperity our community is experiencing.

In times when there is a downturn in the markets and the value of your investments decline, it easy to let your emotions overtake your judgment and give you the impulse to sell.

Last week we discussed the advantages of income splitting with a family members in a lower marginal tax bracket to reduce tax and the attribution rules under the Income Tax Act that need to be cons

Income splitting is simply moving income from an individual in a higher tax bracket to someone in a lower tax bracket to reduce overall tax liability.

A big obstacle to your financial independence could be too much debt. If too much of your budget goes to debt service, it leaves very little for the things you want, or investing for the future.

A wide-screen TV might entice you. A tropical beach might beckon. But if you can resist the temptations, there are ways to get a bigger bang for your tax refund buck.

With only a couple of months until the winter holidays, it’s hard not to think about vacation.

While financial situations vary from person to person, there are several financial items which can be universal to all Canadians.

 

Finding out what financial planning means to you requires an analysis of your financial situation.

In the federal budget introduced on February 26, 2008 the Finance Minister proposed a tax-free savings account starting in 2009.

Are your investments out of sync with your goals? How can you tell? A lot depends on the time frame you’re talking about.

The Home Buyers’ Plan allows individuals and their spouses to “borrow’ up to $20,000 each from their RRSPs to use towards the purchase of a home.

Watching the news, you’ll see that the doom and gloom is even more prevalent than usual, with the stock market riding like a roller coaster, free falling one day only to rally the next.

A post-secondary education is one important gift that we can give our children, but it is anything but free.

If you want a secure financial future without compromising your values, you may be a socially responsible investor.

Well, a segregated fund is explained in easiest terms as a mutual fund run through a life insurance company. Similar to a mutual fund, investors contribute capital that is used to purchase the type of investments specified in the fund’s Information Folder (similar to a prospectus used for mutual funds). Therefore, there are various types of equity, bond, and cash based segregated funds.

Let’s talk about something you may not want to think about: preparing a will. Talking about death can be uncomfortable and even frightening.

Major life events bring changes that often call for a review of your financial plan.