Financial Library

Closing out the Year

After a tough third quarter, we had a massive rebound on the Toronto Stock Exchange in October. We hit fresh record highs and continued to hit more and more as the month went on1. By the end of the month, we'd got to a level of 21,300. Energy prices have gone up a lot this year and large parts of our country are seeing very few cases of COVID-19. There definitely seemed to be a lot of optimism in the air going into the fourth quarter so we are all hoping that will carrying on right into the Christmas break.

Optimizing Your RRIF

Registered Retirement Income Funds (RRIFs) are one method of drawing an income from Registered Retirement Savings Plans (RRSPs) in retirement. There are a few things to consider to get the best value from your retirement savings with RRIFs.

For many Canadians, RRSP savings will be the major source of their retirement income. The main concern for most is the risk of outliving their money. Another priority for many retirees is minimizing income taxes.

Financial Advice for New and Expecting Parents

Whether you're expecting a child, planning to have one soon or have just become a new parent, you're about to embark on one of the most rewarding journeys that life has to offer. It's also one of the most expensive: an average of $12,500 per year until age 18.1. That's $225,000 per child, and it doesn't include the cost of post-secondary education. Planning for this is one way to be the best parent you can be.

Nothing Has Changed, Everything Has Changed

After a number of weeks of campaigning, $610,000,000 of costs, and a significant amount of drama, we are pretty much back to where we started with regards to Federal Politics. This turned out to be the most expensive election in Canadian history and one with a lower turnout than 2008's election1. Many weren't happy to be going to the polls at this time and many will be left unsatisfied with the results. Similar to 2019, the Conservative Party of Canada won the popular vote with a very strong showing in the Prairies, parts of BC and Southern Ontario.

Using a Trust to Avoid Probate Fees

When Simon's father passed away two years ago, he didn't think much about how his estate would be handled. His mother had died five years before, and his dad's will was clear about how his assets would be divided. Then came probate, a process to confirm the validity of his will. Not only did unexpected fees come out of his dad's estate, it took almost a year to settle and distribute it.