Financial Library

Starting Out on the Right Track

A wedding day can be a springboard into many new and exciting adventures. With all the excitement leading up to the big day, the new couple routinely focuses so much energy on planning the event that they seldom spend any time discussing other important life issues - like developing a sound financial strategy for the future.

As couples embark on a new life journey together, it is important to take time to discuss life goals, hopes and dreams and then commit to incorporating each element into an overall financial strategy.

Should You Move in Retirement?

Many people look forward to retiring, and going to live beside a golf course, on the coast, or somewhere else where they have always dreamt of. It's enticing to think that your leisure time can be spent pursuing activities you have worked and longed for all your life. In fact, whole retirement communities are set up on the premise people want to relocate to such a scenario to live out the rest of their lives.

Tax Season & Tax Slips

We've made it through RRSP Season and for many of you, you'll now be getting Contribution Receipts and Tax Slips. RRSP Contribution Receipts are extremely important for reducing your taxable income. If you hold Non-Registered Assets, you'll generally get some Tax Slips for any Dividends, Interest, and/or Capital Gains that you got throughout last year.

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What a Month!

In my last email, I was blunt about the tough quarter we had to end 2018. It was a significant pull back and not a fun way to end the year. Today, I'm excited to report that we had a fantastic start to 2019! Starting in the last week of December, we witnessed an extremely good turn around. Both Canadian and US Stock Markets appreciated throughout January at a rapid pace. This spectacular run offset much of the losses of 2018 so it was a very welcome start to the new year. To take a deeper look at the numbers, the Toronto Stock Exchange was at a level of 13,780 on Dec. 24, 2018.

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Everyone Needs an Estate Plan

Ralph became concerned about what would happen to his hard-earned estate after seeing what had happened to some people he knew.

Vivian had remarried and chose to cut costs by using a do-it-yourself will kit. Because she had not allowed for the obligations set out in her deceased husband's will, it took years and cost thousands of dollars in legal fees to settle her estate. As her cash assets earned income while held in trust, her heirs had to pay income taxes on income they hadn't even received.

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