Thinking Beyond Retirement: Finding a Higher Purpose
It has been said that “if you are what you do, when you don’t … you aren’t.” As you think ahead, have you contemplated a plan for what you will do in retirement? Many of us plan by working hard, saving consistently and investing for the future to ensure a financially secure retirement. As stewards […]
More Perspectives on When to Start CPP Benefits
When it comes to the decision of when to start Canada Pension Plan (CPP) benefits, actuarial studies show that many are better off delaying benefits since the break-even age* commonly falls below our average life expectancy. Living beyond the break-even age means that waiting will yield a larger total lifetime payment. Recall that starting CPP […]
Employee Spotlight: Mikaela Roche
Mikaela Roche is an Investment Associate on our amazing administrative team here at Cresco Wealth Management. We asked Mikaela a few questions to help you get to know her better. What is your favourite area of the business to work in? I enjoy assisting clients when they call in. Being on the service team, I […]
Perspectives On The Divergence In Economic Growth
In Brief: Reasons for Diversification In many aspects, the economies of Canada and the U.S. share similarities as developed countries ranked among the top 10 economic powers globally. Over the past two years, we’ve both grappled to curb inflation, with central banks’ actions mirroring each other. Moreover, both economies have shown substantial economic resilience due […]
CPP: Four Things You May Not Know
The Canada Pension Plan (CPP) has been in the spotlight as the Alberta government proposes creating its own retirement plan. For the answers to some questions about Alberta’s potential divorce from the CPP, see: https://www.cbc.ca/news/business/cpp-app-pension-questions-1.7011117. Most of us contribute to the CPP through our employment income, with the expectation that we will receive future CPP […]
Avoid These Five RRSP Pitfalls
How Well Are You Managing Your RRSP? Registered Retirement Savings Plan (RRSP) season is just around the corner. Beyond the importance of growing funds for retirement, avoiding certain practices can help to save tax or create a bigger nest egg for the future. Here are five RRSP pitfalls: Withdrawing funds to pay down debt — […]
Earlier or Later? Deciding When to Start Canada Pension Plan Retirement Benefits
Download this article as a PDF Many individuals approaching retirement wonder if there is an optimal age to begin taking their Canada Pension Plan retirement pension benefits (CPP). The question often arises because CPP is calculated based upon the age at which an individual starts to receive monthly payments. Though the standard age to start […]
Tax-Free First Home Savings Account
Download this article as a PDF. The First Home Savings Account (“FHSA”) was introduced in the 2022 Federal Budget to address the increasing difficulty Canadians are experiencing in buying a first home due to rising real estate values. The FHSA is intended to help Canadians save and fulfill their dreams of home ownership. What is […]
Naming Your Executor: Friend or Pro?
Download this article as a PDF. A key element of estate planning is choosing an executor, someone you trust to carry out the instructions in your will. To ensure that the administration of your estate is completed efficiently and economically, it’s important to carefully evaluate your needs and choose your executor wisely. What exactly does […]
Making the Most of Canadian Registered Accounts: A Quick Reference Guide
Canadians have access to a plethora of tax-preferred vehicles for saving and investing, each of which provides unique planning opportunities and trade-offs, as well as their own rules and conditions that must be followed. With so many options, determining the best use for each type of account as part of a comprehensive wealth plan can […]