Introduction Estate planning involves preparing for the tasks that must be undertaken in the event of your death or incapacity. While death is inevitable regardless of your preparation or lack thereof, preparation in the form of a well-considered will can make life for your survivors much...
Read More“Industry organizations are calling on the federal government to raise the age at which RRSPs must be converted to RRIFs and to reduce the annual RRIF minimum withdrawal rates.” “Industry groups call for changes to RRIF rules,” by Rudy Mezzetta, Advisor’s Edge, March 13, 2023 What is...
Read MoreWith 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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On February 7, 2023, the Bank of Montreal (BMO) released its latest survey of the Canadian public’s estimate of how much they need to retire with confidence. The survey resulted in a figure of $1.7 million. You may think that this is quite a large figure....
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Occasionally I read about people who regard themselves as fairly sophisticated investors entering into a strategy of beginning to receive the Canada Pension Plan (CPP) at age 60 while continuing to be employed. There may be multiple reasons for making this choice. The most ill-informed reason...
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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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When I was a young boy living on the more rural outskirts of Chilliwack, BC, my brother and I would often go over to our cousin’s place just up the road and sleep outside overnight. This was in the summertime, of course. We would look...
Read MoreAre you looking for New Years Resolutions? If your ideas involve financial concerns, you have come to the right place. Below are nine different options to consider for 2023. All will require a bit of work to accomplish, but equally, all will leave you in...
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Many Canadians have a reasonable degree of net worth. Millionaire households are not that unusual if you consider the value of housing, especially if you have been a homeowner for 20 years or more, which would be the case for many who are approaching retirement....
Read MoreLast week, I wrote a blog post arguing that one should be indifferent to dividends when it comes to security selection. A good friend responded with a few questions, inviting me to write a second post on the subject. Here you are, Mike … and...
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