Hello; Financial stress can affect more than your wallet; it can have a ripple effect, impacting your health and relationships. The relationship between mental health and finances in some instances are dynamically linked. Stress is an important reaction that helps protect you from danger. When experiencing stress, your body releases
Everyone has financial goals. Maybe you’re saving for a vacation or buying a car. You might be looking to purchase a home or cover a child’s education. Funding retirement is another common goal. Your own goals could be any combination of these – or you may have others as well.
More than 1.49 million women and almost 445,000 men become widowed in Canada every year. (Source: Statista.com) The death of a spouse is emotionally devastating and you will need time to grieve. When you’re newly widowed, you need to think clearly and make good decisions in the midst of your grief.
In times of uncertainty or stress, it can be difficult to make the right investment decisions because we often let emotion or intuition guide us. We are less likely to spend time carefully sifting through all the pros and cons. This default behavior can be an obstacle when trying to
Hello; Have you ever faced a decision of trying to choose between an RRSP (Registered Retirement Savings Plan) and TFSA (Tax Free Savings Account)? This is a question I get asked often. Hopefully, this blog will give you the insights to help you decide. A Little Background on RRSPs An
Hello; A key element of retirement income planning is the sources of retirement income, a major one of which is government benefits such as CPP. The importance of CPP retirement benefits will range from trivial to significant. To get handle on CPP, here are a few central questions answered about
Hello; How much do we really need to retire? Perhaps you have concerns that, at your savings rate, you won’t have enough money saved to retire without having to dramatically lower your standard of living. Are these fears justified? Or could it be that we’re being too hard on ourselves
Hello; Have you ever wondered what it would take for your money to double? What is the Rule of 72? It is essentially a rule that can help you estimate how soon your investment will double based on an annual rate of return. To determine this, all you need to
Hello; The TFSA is an important, flexible and versatile part of any financial plan. A TFSA allows any Canadian resident (age 18 or older) to save for just about anything – including retirement – without paying any tax on the growth within the account or on withdrawals. It provides the
Hello; Over the years, we have received numerous questions with regards to estate planning. Here are a few estate planning inquiries with true or false explanations.1 (Scotia Estate and Trust Services) Common-law and legally married spouses are now treated equally for all purposes under the law. False. In Ontario, only legally
Hello; Estate planning encompasses many things such as providing for loved ones, mitigating or avoiding probate, minimizing taxes, providing for the orderly distribution of assets, protecting assets and planning for incapacity. The utilization of a segregated fund in one’s estate plan allows your beneficiaries to receive your money without having
Hello; There was a recent survey conducted to individuals over the age 90 in the USA. They were asked: Report 3 things they would of done differently if they were given the opportunity to relive their lives? One desire was: they reported their wish to do something that would live beyond
Hello; We receive this question a fair bit – Do you invest your money and slowly pay down your credit card debt or focus entirely on reducing your credit card debt? Think of this as another way, every dollar you own in credit card balances is a dollar you are not
Hello; The survivor pension is a monthly benefit paid to an individual who, at the time of the contributor’s death, is the legal spouse or common-law partner of a deceased contributor. (CRA Website). Assuming that the deceased contributor met eligibility criteria, the amount of the survivor’s benefit depends upon: Nuts and
Hello; As another cottage season is well underway, we are always reminded of how many fond memories and good times have been had there, and how many friendships have been formed over the years. It’s also an opportunity to reflect on who will take over the cottage when the owner
Hello; Here is a description of each work retirement plan and some key differences: Defined Contribution Plan (DC) This plan is one where contributions into the plan are based on a specific formula and the sum of accumulated contributions and growth, credited to a plan member, are used to purchase
Hello; Here are some reasons why permanent life insurance is very valuable: Provides liquidity when it’s needed. If you’re primarily invested in real estate, a private company, or other illiquid assets, where’s the cash going to come from to pay taxes owing when you’re gone? Life insurance can solve the
Hello; With an aging population, the role of executor is becoming more valuable. Have you or someone you know been asked to act as an executor? Do you see yourself as having to deal with this role sometime in the future? If so, we are here to help! We know
Hello; Here is a scenario: Gerald passes away on 30-March. What happens? Sincerely, Mike Busby
Hello; A RRIF represents the pay-out phase of retirement plans. What I need to know about RRIF’s Minimum Withdrawal Calculation Summary Sincerely, Mike Busby
Hello; Individuals in career transition who are vested members of a pension plan will be faced with the decision whether to leave the vested pension entitlements on a paid up basis with the company and eventually receive pension income, or transfer out the pension entitlements. Irrespective of which path you
Hello; Here is a list of the main factors which affect your credit score: (comments from Equifax and TransUnion) Payment History Delinquencies Balance-to-Limit Ratio Recent Inquiries Length/history of Accounts Variety of Credit Accounts Too Many Accounts Errors Moving/Time at Address Changing jobs/employers frequently Having no mortgage, or no housing information
Hello; Financial stress can affect more than your wallet; it can have a ripple effect, impacting your health and relationships. The relationship between mental health and finances in some instances are dynamically linked. Stress is an important reaction that helps protect you from danger. When experiencing stress, your body releases
Everyone has financial goals. Maybe you’re saving for a vacation or buying a car. You might be looking to purchase a home or cover a child’s education. Funding retirement is another common goal. Your own goals could be any combination of these – or you may have others as well.
More than 1.49 million women and almost 445,000 men become widowed in Canada every year. (Source: Statista.com) The death of a spouse is emotionally devastating and you will need time to grieve. When you’re newly widowed, you need to think clearly and make good decisions in the midst of your grief.
In times of uncertainty or stress, it can be difficult to make the right investment decisions because we often let emotion or intuition guide us. We are less likely to spend time carefully sifting through all the pros and cons. This default behavior can be an obstacle when trying to
Hello; Have you ever faced a decision of trying to choose between an RRSP (Registered Retirement Savings Plan) and TFSA (Tax Free Savings Account)? This is a question I get asked often. Hopefully, this blog will give you the insights to help you decide. A Little Background on RRSPs An
Hello; A key element of retirement income planning is the sources of retirement income, a major one of which is government benefits such as CPP. The importance of CPP retirement benefits will range from trivial to significant. To get handle on CPP, here are a few central questions answered about
Hello; How much do we really need to retire? Perhaps you have concerns that, at your savings rate, you won’t have enough money saved to retire without having to dramatically lower your standard of living. Are these fears justified? Or could it be that we’re being too hard on ourselves
Hello; Have you ever wondered what it would take for your money to double? What is the Rule of 72? It is essentially a rule that can help you estimate how soon your investment will double based on an annual rate of return. To determine this, all you need to
Hello; The TFSA is an important, flexible and versatile part of any financial plan. A TFSA allows any Canadian resident (age 18 or older) to save for just about anything – including retirement – without paying any tax on the growth within the account or on withdrawals. It provides the
Hello; Over the years, we have received numerous questions with regards to estate planning. Here are a few estate planning inquiries with true or false explanations.1 (Scotia Estate and Trust Services) Common-law and legally married spouses are now treated equally for all purposes under the law. False. In Ontario, only legally
Hello; Estate planning encompasses many things such as providing for loved ones, mitigating or avoiding probate, minimizing taxes, providing for the orderly distribution of assets, protecting assets and planning for incapacity. The utilization of a segregated fund in one’s estate plan allows your beneficiaries to receive your money without having
Hello; There was a recent survey conducted to individuals over the age 90 in the USA. They were asked: Report 3 things they would of done differently if they were given the opportunity to relive their lives? One desire was: they reported their wish to do something that would live beyond
Hello; We receive this question a fair bit – Do you invest your money and slowly pay down your credit card debt or focus entirely on reducing your credit card debt? Think of this as another way, every dollar you own in credit card balances is a dollar you are not
Hello; The survivor pension is a monthly benefit paid to an individual who, at the time of the contributor’s death, is the legal spouse or common-law partner of a deceased contributor. (CRA Website). Assuming that the deceased contributor met eligibility criteria, the amount of the survivor’s benefit depends upon: Nuts and
Hello; As another cottage season is well underway, we are always reminded of how many fond memories and good times have been had there, and how many friendships have been formed over the years. It’s also an opportunity to reflect on who will take over the cottage when the owner
Hello; Here is a description of each work retirement plan and some key differences: Defined Contribution Plan (DC) This plan is one where contributions into the plan are based on a specific formula and the sum of accumulated contributions and growth, credited to a plan member, are used to purchase
Hello; Here are some reasons why permanent life insurance is very valuable: Provides liquidity when it’s needed. If you’re primarily invested in real estate, a private company, or other illiquid assets, where’s the cash going to come from to pay taxes owing when you’re gone? Life insurance can solve the
Hello; With an aging population, the role of executor is becoming more valuable. Have you or someone you know been asked to act as an executor? Do you see yourself as having to deal with this role sometime in the future? If so, we are here to help! We know
Hello; Here is a scenario: Gerald passes away on 30-March. What happens? Sincerely, Mike Busby
Hello; A RRIF represents the pay-out phase of retirement plans. What I need to know about RRIF’s Minimum Withdrawal Calculation Summary Sincerely, Mike Busby
Hello; Individuals in career transition who are vested members of a pension plan will be faced with the decision whether to leave the vested pension entitlements on a paid up basis with the company and eventually receive pension income, or transfer out the pension entitlements. Irrespective of which path you
Hello; Here is a list of the main factors which affect your credit score: (comments from Equifax and TransUnion) Payment History Delinquencies Balance-to-Limit Ratio Recent Inquiries Length/history of Accounts Variety of Credit Accounts Too Many Accounts Errors Moving/Time at Address Changing jobs/employers frequently Having no mortgage, or no housing information
