Legitimate Tax Reduction Opportunities

With the Registered Retirement Savings Plan (RRSP) contribution deadline for 2022 coming up soon and the personal income tax filing deadline close behind, most Canadian adults are focused on this annual task.   I am a financial planner, not a Chartered Professional Accountant (CPA), so I do...

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DRIP-ping Your Way to Wealth(?)

One of the reasons why people love dividends, especially in the accumulation stage, is that they like the idea of being paid from their investments and using those investments to buy more of the same securities. This can be done in an automated matter by...

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Understanding the Time Value of Money

Managing our personal finances involves a few mathematical calculations. When we buy a Guaranteed Investment Certificate (GIC), we are told, for example, that we will receive 5% per year, compounded over five years. If we deposit $5,000 into that GIC, how much will we receive?...

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