Calculating 2023 RRIF Minimum Withdrawals
Download this article as a PDF. For clients who have rolled their Registered Retirement Savings Plan (“RRSP”) over to a Registered Retirement Income Fund (“RRIF”) or who have an existing RRIF account in 2022, the following information outlines how their 2023 minimum withdrawal will be calculated. All RRIF withdrawals are reported as pension income on […]
Alternative Minimum Tax – When Does It Apply, How, And For Whom?
Download this article as a PDF. BACKGROUND The Alternative Minimum Tax (AMT)1 is a second, alternate tax liability calculation that Canadian individuals and trusts must consider annually in parallel with their normal tax liability. First introduced in 1986, AMT was implemented to promote and maintain fairness within Canada’s income tax regime. Simply, if a taxpayer’s AMT […]
Communicate Your Wishes: Advanced Healthcare Directives
Download this article as a PDF. What is an Advanced Healthcare Directive? An Advanced Healthcare Directive (“AHD”) is a legal document providing instructions for your personal care and/or healthcare decisions when you are not capable of making those decisions yourself. An important part of a comprehensive wealth plan, an AHD is variably referred to, depending […]
Retirement Readiness: 10 Questions to Support The Planning Process
Download this article as a PDF. It’s never too early to start planning the retirement you desire. But do you have a clear idea of how you want to spend your time, and if you have the means to support the lifestyle you envision? This list of questions is designed to help you imagine the […]
Insurance Newsletter – Critical Illness… You’re not invincible!
We love to think this is true… and for some lucky people, it might be! However, the reality is, a critical illness (CI) can occur at any time and if it does…it may have a crippling effect on the financial security of you and your family.
Maximize Your Exemption:
Thinking Ahead to the Sale of Your Property(ies) It is the summer — one of the busiest seasons for residential home sales. For many of us, our home is one of our most valuable assets. With many investors now owning multiple properties, thinking ahead to their eventual disposition may be worthwhile. As a reminder, when […]
Billions and Trillions: Unclaimed or Available
It’s the summertime, a time when many of us prefer to be idle. If you are pursuing more relaxing endeavors, make sure your assets keep working hard for you. In brief, here are three considerations: Have you fully maximized tax-advantaged accounts? By now, you have likely received your Notice of Assessment from the Canada Revenue […]
Take a Vacation From Checking Your Portfolio
An article in the Washington Post offered a different perspective to the view that kids these days get too much screen time. There’s another demographic struggling to put down their devices: baby boomers. As one man put it: “My 75-year-old dad’s phone may as well be an implant; he lives with it like a teenager!”1 […]
Employee Spotlight: Pamela Marrie Pineda
Pamela Marrie is an Investment Associate on our rockstar administrative team here at Cresco. We asked Pamela a few questions to help you get to know her better.
Insurance Newsletter – Term Insurance
When clients are looking for instant coverage, want financial protection for their loved ones and are budget conscious… Term insurance is usually the go to! Term insurance is initially less expensive compared to permanent life insurance; this is because it’s not designed to last through old age which is when life insurance premiums for term are the most expensive.