Managing personal finances effectively is crucial for long-term financial stability and security. However, many consumers often fall prey to common financial mistakes that can hinder their progress and lead to
Life insurance, including mortgage or creditor insurance, is a key tool in your financial arsenal. This article will provide a high-level overview to help you better understand your choices when
When it comes to your estate, it is important to consider giving some thought to how you want to distribute your assets, household goods and other gifts to your heirs
Sole proprietorships are the most basic form of business organization. They are actually an extension of the person and are taxed as such. Due to its simplicity, many business start-ups
Canadian government statistics continually show that roughly half of all marriages end in divorce. If a couple is contemplating moving forward with a divorce, it is important to carefully consider
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
Investment icon Warren Buffett says there’s wisdom in being “fearful when others are greedy and greedy when others are fearful.” 1 He first gave this advice in 1986 and has
The recent tremors in the US banking system (collapse of Silicon Valley Bank – SVB) have caused some Canadians to question how developments in the US might affects their own
As people age, maintaining financial independence can become increasingly challenging. However, there are steps that senior can take to help ensure that they can continue to live independently and enjoy
Canadians have various existing tax reduction opportunities to consider for their own personal situations and one NEW strategy arrives this spring: First Home Savings Account (FHSA). The FHSA has
Financial independence is an important goal that many Canadians aspire to – but achieving it can feel like an overwhelming task. However, with the right mindset and a few key
According to a 2022 survey,1 only 35% of Canadians aged 50 and older feel they’re financially ready to retire. Sixty-two percent report being unprepared or unsure if they have the
As the recent pandemic crisis made its way around the world, creating havoc in its wake, we can be thankful most Canadians were able to weather the storm in fairly
The Tax-Free Savings Account (TFSA) was introduced in 2009 to offer Canadians an incentive to save over their lifetimes. TFSAs provide tax-free growth, flexible investment options, and easy set-up and
If you are a prudent investor, then you have a financial retirement plan that will ensure you have sufficient funds for the lifestyle you envision after you stop working. What
Once again, it is that time of year when Canadians turn their attention to make their tax-deductible pension contributions to their RRSP. The word “pension” is used deliberately to emphasize
Accounting firm BDO Canada1, found that only one-third of family-owned businesses survive the transition to second generation, with just a third of these getting to the next – a mere
As we age, it becomes more likely that we may lose track of our finances. It could be because of physical reasons (failing eyesight, shaky hands, etc.), mental reasons (memory
From listening to the media and online commentators, we have identified two key observations that can impact your efforts to build assets and wealth over time. The first is
It’s challenging to be patient in a fast-paced, immediate gratification world, but some things are worth the wait. Consider, for example, how a powerful financial reality (compound interest) can help
For many nearing retirement, lifestyle choices become more significant in determining their comfort level for the rest of their lives. They must decide whether it is better to make some
Now is usually the best time to consider harvesting tax losses before the year-end to manage your overall income tax situation, based on various types of earned or investment incomes.
If you are planning a holiday, it is wise to be aware of the six most common travel scams you might encounter on your journey. Travel scams vary from country
The Baby Boomers have become known as the sandwich generation as they are wedged between the dependency needs of aging parents and the needs of their children. Those hit the
During our ongoing weekly discussions with clients, we occasionally get questions from individuals about their approach to investing – particularly in terms of fees and value. The questions are
Balance in life is essential for well-being. Since finances are a number one stressor for most Canadians1, how you manage your money plays a key role in finding and maintaining
After spending a lifetime managing your money to ensure that you actually have something to leave to your heirs, there are some questions that might naturally spring to mind. How
When you’re going on a journey, there are three essential questions to ensure you have a great trip. How will I get there? How much will it cost? How will
During the past several months, a few clients have expressed concerns about world events and the potential impact on their investments. Concerns cited have included the ongoing Russia-Ukraine war, rising
With the turbulent times we have been experiencing in the markets, more people are considering annuities to ensure a certain income in their retirement years. It might not suit everybody
