Once again, our very own, Maili Wong has contributed to this new piece in The Globe and Mail, sharing her ideas on what to do with extra cash for investors who have triggered capital gains before the inclusion rate goes up on June 25th.
Read the whole article here. Here’s a preview of what Maili had to say:
Investors will also need to decide how to invest the money, says Maili Wong, senior portfolio manager and senior wealth advisor with The Wong Group at Wellington-Altus Private Wealth Inc. in Vancouver.
“If they need retirement cash flow to fund living expenses, consider a balanced dividend equity and fixed income portfolio for monthly income,” she says.
For those who plan to buy another property in a few years, Ms. Wong recommends a diversified portfolio of high-quality stocks and bonds for growth to keep up with rising prices.
“If they plan to reinvest the money into a property within a year, they should also keep the funds liquid and invested more conservatively,” she says.
Ms. Wong says business owners may consider shifting some assets into corporate-owned life insurance policies. These policies can offer tax sheltering for assets and provide the corporation with tax-free distributions.
“This was a terrific strategy before the new rules and is now even more compelling under the new rules,” Ms. Wong says
If you have any questions about how this relates to you or your investment portfolio and financial plan, please give us a call at 778 655 2410 or email us at thewonggroup@wellington-altus.ca
Sincerely,
Maili Wong, CFA, CFP, FEA
Senior Portfolio Manager & Senior Wealth Advisor
Wellington-Altus Private Wealth Inc.
Board Director
Wellington-Altus Financial Inc.
Maili Wong is a senior portfolio manager and senior wealth advisor at The Wong Group at Wellington-Altus Private Wealth and the Amazon best-selling author of ‘Smart Risk.’ She has over two decades of experience in the finance industry and was named a Top Wealth Advisor and one of the Best in Province in the 2022 rankings produced by The Globe and Mail and SHOOK Research.
