Final Thoughts For 2023: Unveiling The Path To A 1.75% Federal Funds Rate
Balancing Churchill’s Caution, Truman’s Expectations, And Gandhi’s Wisdom In The Age Of Chaos “I always avoid prophesying beforehand, because it is much better policy to prophesy after the event has already taken place.” – Winston Churchill Download this PDF here. In the realm of economic forecasting, the concept of a trilemma emerges as a thought-provoking […]
Maximizing Your RESP: Withdraw Wisely
A Registered Education Savings Plan (RESP) is a Canadian registered investment account that promotes saving to support a beneficiary’s post-secondary education. Anyone — parents, family and friends — can open a RESP as a “subscriber” for the benefit of a child. Invested contributions grow tax free. When the time comes to withdraw funds for post- […]
Financial Literacy and Children: Keep it Relatable at Every Age
How can we raise financially confident children and grandchildren in an increasingly complex world filled with distractions? Many of our clients, for example, are concerned that the next generation won’t possess the financial literacy needed to inherit family wealth. The good news is that while introducing healthy money habits to young children is ideal, it’s […]
RESP Withdrawal Decision Tree
When withdrawing from an RESP, there are a variety of considerations to keep in mind, such as is this the first time the beneficiary is attending post-secondary education, are they attending full or part-time, and what makes the most sense – withdrawing EAP and/or PSE. This RESP decision tree outlines the different withdrawal options available […]
Solving The Retirement Funding Puzzle
While generally a cause for celebration, retirement often comes with its fair share of financial anxiety. Research indicates that many people fear outliving their savings, resulting in an inability to enjoy life to the fullest throughout retirement. Advisors can assist clients with sorting out what has been called the “nastiest, hardest problem in finance”1 by creating […]
Retirement Readiness: 10 Questions to Support the Planning Process
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 realities of your retirement years, and […]
Reducing Household Taxes Through CPP Sharing
Download this article as a PDF. If you are collecting or have applied to collect your Canada Pension Plan retirement pension benefit… Did you know you can share CPP income? Unlike pension or RRIF income, CPP income can’t be split by the taxpayer on their tax return – splitting is applied for through Service […]
Real Estate and U.S. Taxes: The Cost of Ownership
Download this article as a PDF. Many Canadians own property in the U.S., and many Canadian retirees dream of owning property in a warmer climate than our own. The U.S. has some complicated rules around taxation, and you could be subject to their taxation even as a non-resident. There are 3 main considerations to keep […]
Tax-Free First Home Savings Account
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. If you or a family member is planning […]
Alternative Minimum Tax – When Does It Apply, How, And For Whom?
Download this article as a PDF. A Registered Disability Savings Plan (RDSP) is a tax-sheltered savings vehicle designed to help families ensure the long-term financial security of a loved one affected by disability. While Alternative Minimum Tax (AMT) might not be a common discussion point amongst all taxpayers, it’s a concept that’s very worthwhile […]
