In retirement, it’s time to start spending. But how much can you withdraw each year without needing to worry about running out of money? 1 (How can I make my retirement savings last? Fidelity Viewpoints Apr. ’24) What is a sustainable withdrawal rate (SWR)? What will impact my sustainable withdrawal
Why do certain retirees struggle to spend money? Their fear of depleting their savings.1 (There’s 1 big reason millions of US retirees struggle – and it’s not because they don’t have enough money, Maurie Backman Aug. ’24) Achieving financial security in retirement isn’t just a matter of saving money. It
What are the consequences of adding your children to the title of your house or an investment account? Adding a child or moving real estate to joint ownership is a popular tactic for people to avoid probate. People do this to bypass the estate and the holdings will not be
While diversification is a good way to preserve wealth, concentration is often a better way to build a fortune. Let’s discuss the differences between the two.1 (Investopedia Concentrated vs Diversified Portfolios Jan. ’22) What diversification does Advantages of a Diversified Portfolio Disadvantages of a Diversified Portfolio Advantages of a Concentrated
Here are some tips to build lifestyle success for your future.1 (Empire Life 5 tips for financial success later in life Jan. ’24) Have a plan Reduce Debt Have long-term savings Practice saving money Set realistic expectations Sincerely, Mike Busby (1-Apr-24) THE COMMENTS CONTAINED HEREIN ARE A GENERAL DISCUSSION OF CERTAIN
Accumulating wealth may seem daunting for many individuals, but it can be achieved with the correct habits1 (Kenny Accent Investing Nov. ’23) Here are the steps to build wealth: Monitor finances Invest for retirement Invest in yourself Keep track of your accounts Increase the value of money Financially literate Increase
As year-end approaches, now is a good time to review your personal finances and take advantage of any tax planning opportunities that may be available for your TFSA before the Dec. 31 deadline1 (CIBC 2023 Year-end tax-tips, Nov. ‘23) TFSA contributions TFSA withdrawals Please let me know if you require
Placing non-registered assets into joint ownership with right of survivorship is one of the most common methods of avoiding probate. It can be effective in the right situation. Yet, there are some significant disadvantages with joint ownership that may outweigh the benefits. 1 (Manulife Investment Management Sep.’23) Disadvantages of joint
Adding social planning to your financial planning can make a big difference to your health during your retirement. 1 (Lumino Health Jan. ’23) Retirement is a big life transition. When people leave work, some people let go of a big part of their identity. But preparing for the change can
One of the best ways to take charge of your finances is to try and accumulate a healthy savings account. Nobody wants to feel the stress of knowing that they are only a paycheque away from financial calamity. 1 (Rutgers Monthly Finance Message Feb. ’09) What does the research say about
Many people realize that they have been contributing to CPP for a good portion of their lives but may not be sure when or how much they’ll receive at retirement. Here are some facts: 1 (Manulife Sep. ’21) #1 Take CPP early and continue working #2 Delay taking CPP and receive more
Let’s walk through what happens to our debts when we pass.¹ (MoneySense March 2023) Who’s responsible for debt after death? What can creditors come after? What happens when you have debt and you don’t have cash or assets when you pass? What happens to your mortgage debt when you die?
Over the years, I have seen many insurance mistakes. Here is a list of them: 1) Delay putting in place coverage until it is too late. Acquire when you are healthy. 2) Not understanding all possible risks if you are underinsured 3) Underestimating income replacement when factoring in how much coverage that you
Here are some pointers to help you improve your financial discipline: 1 (Kenny Accent Investing Feb ’23) 1) Set Clear Financial Goals – goals can help you stay focused and motivated – Write them down – they need to be specific, measurable, and achievable 2) Avoid Lifestyle creep –
Hello; One of the tax breaks the government gives to couples takes place when the first spouse passes away. That person’s RRIF can be taken over by the surviving spouse without taxes being payable at the time. So those funds continue to grow on a tax-deferred basis. What happens when
It’s official! The annual contribution limit for the Tax-Free Savings Account (TFSA) has been increased to $6500 for 2023. This amount is up from the $6000 limit that was set from 2019-2022. The TFSA was created in 2009 and the annual contribution limit is the same for everyone. The maximum
Hello; Here are some simple common-sense guidelines to keep your financial affairs in order: 1) Know where you stand financially: Keep a close eye on your net worth: everything you own less everything you own. Make sure it is moving in the right direction. 2) Living within your means: Do not
With life insurance, like other matters related to your financial well-being, a “set it and forget it” attitude is not the correct approach to take. So when is a good time to review your life insurance? Here are four instances when a review makes sense. 1) Your term life insurance
Hello; Getting covered through your employer can be inexpensive and convenient.1 (Empire Life Oct 2014). Relying solely on the life insurance you have through your employer can pose potential problems. Here are 5 key questions to consider: 1# Is your employer-provided life insurance coverage enough to take care of your
Hello, Did you know the Ontario government wants you to take a vacation? In fact, they will give you money if you do! Introducing the temporary Ontario Staycation Tax Credit for 2022. What is it? How does it work? Who is eligible? Eligible Expenses How to claim the credit Best,Mani
Hello; There are many inherent elements that make an insurance investment an ideal option from an estate planning perspective. If we look at someone’s non-registered assets, here are some key benefits with an insurance investment: For more information on this, please let us know if you require further information. Sincerely,
According to a disability planning workshop by the Mackenzie Institute, the CRA reported that more than 365,000 Canadians under the age of 49 who qualify for the Disability Tax Credit have not opened and taken advantage of a Registered Disability Savings Plan (RDSP). The result is billions of dollars in
Hello; Average retirees surveyed in the US between age 62 and 75 found that 3/4 of them had seen their assets remain the same or grow in retirement.¹ (Barron’s Dec. 2021) Why is that? – Here are some observations: The message is quite clear – each person has to live
The Deadline The normal tax-filing deadline for Canadians is April 30th, but this year April 30th falls on a Saturday, therefore you have until May 2nd to file your tax return. If you or your spouse/partner had self-employment income in 2021, you have until June 15th to file your return(s). Either way, if
Hello, Tuesday March 8, 2022 was International Women’s Day and the theme for this year was “Gender equality today for a sustainable tomorrow”. Women have made incredible strides, both professionally and personally, in the last half century. They are better educated, have greater responsibility in the corporate world and are
Hello; The purpose for life insurance is to make sure that the ones we care about the most will always be taken care of. Whether you are hard to insure or have health issues, we can help put a plan in place at Brandon Lindsay. Can I get life insurance
Hello; Arranging the smooth transfer of assets to heirs can be a challenge for many reasons.1 (Manulife Nov. 2021) The first one relates to time. Often, probate is required before instructions can be carried out and your beneficiaries can receive their inheritance – and the process of obtaining probate can be a
As the end of the year quickly approaches, like me you are probably looking forward to enjoying the upcoming festive season. However, along with your last-minute shopping, another activity which makes sense at year end is tax loss selling. When it comes to investing, they can’t all be winners. Sometimes
Hello; A will is a key component of an effective estate plan. Advertisements for do-it-yourself will kits leave the impression that one need only fill in a few blanks to create a legally enforceable will. Be careful! ¹ (Sunlife) Risks with do-it-yourself Wills You may miss out on tax and
When people think of Life insurance, at the heart of it, it’s about taking care of loved ones. They see life insurance as a tool that protects people they care about from the potentially devastating financial losses that can result from a premature death. However, life insurance can also help
In retirement, it’s time to start spending. But how much can you withdraw each year without needing to worry about running out of money? 1 (How can I make my retirement savings last? Fidelity Viewpoints Apr. ’24) What is a sustainable withdrawal rate (SWR)? What will impact my sustainable withdrawal
Why do certain retirees struggle to spend money? Their fear of depleting their savings.1 (There’s 1 big reason millions of US retirees struggle – and it’s not because they don’t have enough money, Maurie Backman Aug. ’24) Achieving financial security in retirement isn’t just a matter of saving money. It
What are the consequences of adding your children to the title of your house or an investment account? Adding a child or moving real estate to joint ownership is a popular tactic for people to avoid probate. People do this to bypass the estate and the holdings will not be
While diversification is a good way to preserve wealth, concentration is often a better way to build a fortune. Let’s discuss the differences between the two.1 (Investopedia Concentrated vs Diversified Portfolios Jan. ’22) What diversification does Advantages of a Diversified Portfolio Disadvantages of a Diversified Portfolio Advantages of a Concentrated
Here are some tips to build lifestyle success for your future.1 (Empire Life 5 tips for financial success later in life Jan. ’24) Have a plan Reduce Debt Have long-term savings Practice saving money Set realistic expectations Sincerely, Mike Busby (1-Apr-24) THE COMMENTS CONTAINED HEREIN ARE A GENERAL DISCUSSION OF CERTAIN
Accumulating wealth may seem daunting for many individuals, but it can be achieved with the correct habits1 (Kenny Accent Investing Nov. ’23) Here are the steps to build wealth: Monitor finances Invest for retirement Invest in yourself Keep track of your accounts Increase the value of money Financially literate Increase
As year-end approaches, now is a good time to review your personal finances and take advantage of any tax planning opportunities that may be available for your TFSA before the Dec. 31 deadline1 (CIBC 2023 Year-end tax-tips, Nov. ‘23) TFSA contributions TFSA withdrawals Please let me know if you require
Placing non-registered assets into joint ownership with right of survivorship is one of the most common methods of avoiding probate. It can be effective in the right situation. Yet, there are some significant disadvantages with joint ownership that may outweigh the benefits. 1 (Manulife Investment Management Sep.’23) Disadvantages of joint
Adding social planning to your financial planning can make a big difference to your health during your retirement. 1 (Lumino Health Jan. ’23) Retirement is a big life transition. When people leave work, some people let go of a big part of their identity. But preparing for the change can
One of the best ways to take charge of your finances is to try and accumulate a healthy savings account. Nobody wants to feel the stress of knowing that they are only a paycheque away from financial calamity. 1 (Rutgers Monthly Finance Message Feb. ’09) What does the research say about
Many people realize that they have been contributing to CPP for a good portion of their lives but may not be sure when or how much they’ll receive at retirement. Here are some facts: 1 (Manulife Sep. ’21) #1 Take CPP early and continue working #2 Delay taking CPP and receive more
Let’s walk through what happens to our debts when we pass.¹ (MoneySense March 2023) Who’s responsible for debt after death? What can creditors come after? What happens when you have debt and you don’t have cash or assets when you pass? What happens to your mortgage debt when you die?
Over the years, I have seen many insurance mistakes. Here is a list of them: 1) Delay putting in place coverage until it is too late. Acquire when you are healthy. 2) Not understanding all possible risks if you are underinsured 3) Underestimating income replacement when factoring in how much coverage that you
Here are some pointers to help you improve your financial discipline: 1 (Kenny Accent Investing Feb ’23) 1) Set Clear Financial Goals – goals can help you stay focused and motivated – Write them down – they need to be specific, measurable, and achievable 2) Avoid Lifestyle creep –
Hello; One of the tax breaks the government gives to couples takes place when the first spouse passes away. That person’s RRIF can be taken over by the surviving spouse without taxes being payable at the time. So those funds continue to grow on a tax-deferred basis. What happens when
It’s official! The annual contribution limit for the Tax-Free Savings Account (TFSA) has been increased to $6500 for 2023. This amount is up from the $6000 limit that was set from 2019-2022. The TFSA was created in 2009 and the annual contribution limit is the same for everyone. The maximum
Hello; Here are some simple common-sense guidelines to keep your financial affairs in order: 1) Know where you stand financially: Keep a close eye on your net worth: everything you own less everything you own. Make sure it is moving in the right direction. 2) Living within your means: Do not
With life insurance, like other matters related to your financial well-being, a “set it and forget it” attitude is not the correct approach to take. So when is a good time to review your life insurance? Here are four instances when a review makes sense. 1) Your term life insurance
Hello; Getting covered through your employer can be inexpensive and convenient.1 (Empire Life Oct 2014). Relying solely on the life insurance you have through your employer can pose potential problems. Here are 5 key questions to consider: 1# Is your employer-provided life insurance coverage enough to take care of your
Hello, Did you know the Ontario government wants you to take a vacation? In fact, they will give you money if you do! Introducing the temporary Ontario Staycation Tax Credit for 2022. What is it? How does it work? Who is eligible? Eligible Expenses How to claim the credit Best,Mani
Hello; There are many inherent elements that make an insurance investment an ideal option from an estate planning perspective. If we look at someone’s non-registered assets, here are some key benefits with an insurance investment: For more information on this, please let us know if you require further information. Sincerely,
According to a disability planning workshop by the Mackenzie Institute, the CRA reported that more than 365,000 Canadians under the age of 49 who qualify for the Disability Tax Credit have not opened and taken advantage of a Registered Disability Savings Plan (RDSP). The result is billions of dollars in
Hello; Average retirees surveyed in the US between age 62 and 75 found that 3/4 of them had seen their assets remain the same or grow in retirement.¹ (Barron’s Dec. 2021) Why is that? – Here are some observations: The message is quite clear – each person has to live
The Deadline The normal tax-filing deadline for Canadians is April 30th, but this year April 30th falls on a Saturday, therefore you have until May 2nd to file your tax return. If you or your spouse/partner had self-employment income in 2021, you have until June 15th to file your return(s). Either way, if
Hello, Tuesday March 8, 2022 was International Women’s Day and the theme for this year was “Gender equality today for a sustainable tomorrow”. Women have made incredible strides, both professionally and personally, in the last half century. They are better educated, have greater responsibility in the corporate world and are
Hello; The purpose for life insurance is to make sure that the ones we care about the most will always be taken care of. Whether you are hard to insure or have health issues, we can help put a plan in place at Brandon Lindsay. Can I get life insurance
Hello; Arranging the smooth transfer of assets to heirs can be a challenge for many reasons.1 (Manulife Nov. 2021) The first one relates to time. Often, probate is required before instructions can be carried out and your beneficiaries can receive their inheritance – and the process of obtaining probate can be a
As the end of the year quickly approaches, like me you are probably looking forward to enjoying the upcoming festive season. However, along with your last-minute shopping, another activity which makes sense at year end is tax loss selling. When it comes to investing, they can’t all be winners. Sometimes
Hello; A will is a key component of an effective estate plan. Advertisements for do-it-yourself will kits leave the impression that one need only fill in a few blanks to create a legally enforceable will. Be careful! ¹ (Sunlife) Risks with do-it-yourself Wills You may miss out on tax and
When people think of Life insurance, at the heart of it, it’s about taking care of loved ones. They see life insurance as a tool that protects people they care about from the potentially devastating financial losses that can result from a premature death. However, life insurance can also help
