Wealth transfer can be a complex process for most families but especially wealthy ones. The range of issues involved can include family values, objectives and relationships; business continuity; investment strategy
With the holidays behind us, and the credit card bills arriving as testimony to your celebrations, perhaps now is a good time to reflect upon some potential Resolutions for the
The following are relatively common mistakes that Canadians make annually when contributing to their Registered Retirement Savings Plans. 1. Reporting RRSP contributions based on a calendar year. While
A survey conducted by a big bank some years ago* revealed that over 30% of Canadians were hoping for a lottery win to help fund their retirement. This raises the
After spending likely 15 – 30 years focused on building an investment portfolio, it can be quite a challenge to switch gears when it comes time to withdrawing income from
Almost everyone agrees that it’s a good idea to have a will. However, it is estimated that about half of Canadians do not have one, and it is likely that
This seems to be an increasingly topsy-turvy world with wacky politics and trade wars between the US and just about everyone else. And in Canada we have all just witnessed
The age old saying, ‘Ignorance is bliss’, may apply to many things in life. However, when it comes to your finances, ignorance can be absolutely devastating. Even the government is
Phillip and Betty want their estate settled as smoothly and cost effectively as possible when the time comes. They have taken a number of steps to make sure this happens.
Brent and Darlene really enjoy their ‘toys’ and their lifestyle. In the last few years, they bought themselves a big screen TV, a stereo system, two expensive new vehicles, a
Alicia was about to sign the papers on her new vehicle when she noticed an additional charge of a little over $3,400 for insurance on the Bill of Sale. When
It is required by the Income Tax Act that a Registered Retirement Savings Plan (RRSP) must be closed by the end of the year in which the planholder (annuitant) reaches
If you were going to recommend a treatment plan for a loved one suffering with alcoholism, would you prescribe more alcohol as the best course of action to help them
Many falsely believe they will not be victims of a critical illness like cancer, heart attack or stroke. They also believe that if they do experience a serious illness, the
In his early July testimony before Congress, US Federal Reserve Chairman Jay Powell. Mr. Powell stated that the Fed funds rate will be reduced, given lower than expected U.S. inflation.
A fire breaks out in a movie theatre. You’re there with your spouse and children, as are several local merchants. Who do you save first? The butcher? The banker? The
Grant and Sarah are planning on retiring within the next two years. Paul and Linda, already retired, are thinking about making a move. Whether you are about to retire or
Over the next several years, governments in advanced countries will likely continue to struggle with mounting debt burdens and the associated rising costs of servicing that debt. It is also
Clients often call when markets are looking a bit shaky, or newspaper articles are predicting the next market correction, recession, bubble, etc. The challenge with reacting to such events
Despite what many people think, the number one financial dream killer isn’t portfolio losses, or financial emergencies, or unemployment, and not even natural disasters. The number one reason people fail
Like many business owners, Rick and Warren thought it would be a simple process to continue the business when one of them died. Nothing could be further from the
A major Canadian financial institution ran an investment promotion earlier this year that promised attractive returns for GIC-type investors, who needed higher returns to generate income. While dealing with an
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
One of the most interesting facets of the financial services industry is how so many people tend to invest their money and plan their financial affairs by chasing trends and
Similar to the situation of individual Canadians, small business owners must deal with a variety of financial challenges in order to grow their businesses. Besides managing issues like cash flow
Earl wants to control the distribution of his estate when he dies and feels that a Will is a good idea. He saw an ad on social media about do-it-yourself
With the December market correction in both the US, Canada and elsewhere slowly receding into the past, it is a good time to review what exactly happened and how clients
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
If your way of assessing the state of the world is only through stories gleaned from the regular media, then you are likely missing out on all the marvelous and
It is possible for just about everybody to achieve financial success. Getting there is usually not a matter of financial wizardry. By following some basic principles, you can make your
