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Monday, June 27, 2011

Many people think that bank accounts and GICs are safe investments. Interestingly, with interest rates as low as they currently are once you consider the effects of inflation and income taxes, your real retun can actually be negative.

Posted at 12:37 PM

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Wednesday, June 22, 2011

You only need ever do one thing to ensure your financial freedom. Spend less than you earn - forever.

Posted at 12:34 PM

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Tuesday, June 21, 2011

Monday June 6th was tax freedom day. Almost 1/2 the year spent working for no other benefit than to pay taxes. Click the link below to calculate your own tax freedom day. There's a link within the article. Talk to you professional advisor today about strategies to move your tax freedom day forward. http://opinion.financialpost.com/2011/06/06/today-is-tax-freedom-day/

Posted at 01:37 PM

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Monday, June 20, 2011

Having a properly written and funded buy-sell agreement for partners/shareholders in a business is crucial. Having an agreement without funding it can leave you liable to purchase the business without the resources to do so. Talk to your professional advisor about this today.

Posted at 11:10 AM

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Thursday, June 9, 2011

Your ability to earn an income is your most valuable asset - make sure you insure your income properly. That could include life insurance, disability and / or critical illness insurance.

Posted at 04:12 PM

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Friday, June 3, 2011

Flexibility and leaving yourself with choices are key components to a good financial plan.

Posted at 12:50 PM

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Wednesday, June 1, 2011

Today I will start working with clients on their Retirement Income Plan. There's more to it than just how much their income will be. We will also be looking at what forms of income they could use to create the lifestyle they want to pursue.

Posted at 11:05 AM

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Monday, May 30, 2011

Making a withdrawal from an RRSP requires paying taxes. The set amount applied at the time of withdrawal may not be enough to cover the total tax owing on the amount withdrawn. You can ask to have extra tax withheld so you don't have a nasty surprise when you file your next tax return. Ask your professional advisor to help you figure out what amount of tax should be withheld.

Posted at 03:46 PM

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Wednesday, May 25, 2011

Did you know that Tax Free Savings Accounts can hold many different types of investments? Any investment that is eligible for an RRSP is eligible to be held as a TFSA. For example, that would include GICs, segregated funds, mutual funds and many more.

Posted at 01:20 PM

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Tuesday, May 24, 2011

Many people believe that the 'mortgage' insurance offered by financial institutions is the same as a personally owned policy. That is not so. Here is a link to the piece 'Marketplace' did on the pitfalls of this type of insurance. It's 25 minutes long, but you probably won't need to watch all of it to get the message. http://www.cbc.ca/marketplace/in_denial/

Posted at 11:46 AM