Retirement Savings Late Starter?
August 8, 2016
Harry and Sally both earned high incomes and liked to live the good life. They leased higher end European cars, took two-week exotic vacations almost every year, and lived in
Harry and Sally both earned high incomes and liked to live the good life. They leased higher end European cars, took two-week exotic vacations almost every year, and lived in
After speaking with many clients and potential clients over the years, a pattern emerges in the direction that the interview takes. There is often a sense of give and take
Many consumers find themselves falling into the traps offered by the appeal of easy credit opportunities. They are dazzled by payment plans for tech purchases, zero-percent loans on major purchases,
In December 2015, an Alberta court decision raised the need for Advisors and their clients to review their existing Beneficiary designation of RRIF accounts as well as RRSPs and life
Mortgages today are not like they were when our parents or grandparents bought their homes. As most of us don’t have the cash to buy a home outright, we need
Many mistakenly believe that if they need Long Term Care, either in their home or in a facility, the cost will be covered by provincial health care or other government
The recent Federal Budget included measures to close a favorable tax rule for investors in investment accounts or through corporations, trusts and holding companies, who have proposed rules to curb
If you are concerned about your future finances, you are certainly not alone as noted in a global survey of 19,000 adult in over 19 countries (including Canada). Nearly
Do you have a separate recreational property or a rental property? If so this may apply to you: Some years ago, Roy and Mary bought a cottage at the
The method that you use to name a successor, owner or beneficiary of a TFSA makes a big difference to your estate, not only for a TFSA to maintain its
Marc and Lorna just bought a house and, like most home buyers, they needed a mortgage. During the financing process, they were offered mortgage insurance by the lender. They wanted
While the Bank of Canada publicly muses about adopting negative interest rates on Government Bonds as a policy tool to stimulate economic growth, the Bank of Japan recently cut its
One of the top retirement goals for many is travel. As many as 1.5 million so called “snowbirds” travel to the Southern United States during the winter. With summer just
“Everyone has a plan until they get punched in the face.” George Foreman. With RRSP season upon us, it might be useful to see how the wealthy invest their
Since their introduction in 1957 as an incentive to save for retirement, Registered Retirement Savings Plans (RRSPs) have evolved into the most popular savings vehicles in Canada. All too often,
Maureen, age 20, figures she can save $400 each month; or she can keep frittering it away at the mall. She lives with her parents and they think she should
The August correction in the Chinese stock market led to a lot of “how terrible” news coverage and speculation as to whether or not this signaled the end of the
The origin of the recent stock market correction started earlier in the spring of this year. During the month of April, the Canadian, U.S. and many other global stock markets
Many believe that if they need long term care, either in their home or in a facility, that the cost will be covered by provincial health care or other government
“Everyone wants to live at the expense of the state. They forget that the state lives at the expense of everyone.” – Frederic Bastiat By the time that you
Ron and Susan are arranging a mortgage and the banker asks if they’d like to include life insurance to pay it off on death. Sounds like a good idea, so
Starting in January 2017, the allowable cash value build up under tax rules in life insurance policies will change. The federal government introduced changes in December 2014 that are designed
If you are sitting neck deep in debt, living beyond your means, and still calm and collected about your own financial well-being, then chances are, you are one of the
Convert RRSPs to income – Roger and Sarah, retired for several years, have delayed taking income from their RRSPs so they could enjoy the tax deferred growth as long as
Statistics show that about half of marriages end in divorce. Ed and Liz are ending theirs and are concerned about changes that will have to be made to their financial
For years, you have been anticipating that last day at work. When it finally arrives, will it live up to your expectations? Retirement looks different in everyone’s imagination. For
Canadians, like many nationalities, have a home bias when it comes to investing. The majority, if not all of their investments, such as RRSPs, real estate, mutual funds, segregated funds
Investors who start saving at a young age automatically have one of the most powerful assets on their side: Time. To get ahead financially, young adults should beware of some
Retirement used to mean a gold watch, a pension and spending time on hobbies or new pastimes. For some this may still be true, but times have changed and there
Increasingly consumers in major Canadian cities such as Calgary, Edmonton, Vancouver or Toronto, are faced with a dilemma of how to best manage their cash flow in the face of
