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  • Home
  • About
    • About Russ
    • How We Work
  • Services
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    • General Resources
    • Calculators
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How to Provide an Advance on Your Inheritance

in Blog
by Russell Sawatsky

American financial planning guru, Michael Kitces, observes that many retirees, after accumulating a substantial portfolio of assets to cover their retirement spending, wind up continuing to grow their assets throughout most of their retirement. There is an element of prudence in this practice because the...

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Comparing the Tax Efficiency of Non-Registered, RRSP, and TFSA Accounts

in Blog
by Russell Sawatsky

Scenario Let’s imagine that you are 35 years old and you have just inherited $50,000. You wonder whether it makes sense to contribute to your RRSP, your TFSA, or whether you should open a non-registered account and invest the money there.   You live in Ontario and your...

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How to Address an Inheritance or Other Financial Windfall

in Blog
by Russell Sawatsky

My dad’s birthday was September 2. He died a little over four years ago just short of age 89. Thanks to his thoughtful approach to financial matters and the careful executorship of my brother, Rob, we four siblings received our inheritances in a timely manner.   What...

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Using the Funded Ratio to Determine Retirement Readiness

in Blog
by Russell Sawatsky

Defined Benefit pension plans are required to use a funded ratio, also referred to as a solvency ratio, in determining whether the plan is sufficiently funded. This approach can also be used to assess the funding adequacy, or solvency, of your own retirement savings.   What is...

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Evaluating the Tax-Free First Home Savings Account

in Blog
by Russell Sawatsky

Affordable housing is a huge issue in household finance these days. Prices have increased to ridiculous levels. Governments are under pressure to address this situation, even though they are being pulled in two directions. On one hand, the real estate industry is a major part...

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What Happens When You Are a Surviving Spouse?

in Blog
by Russell Sawatsky

You are a 75-year-old woman. Your husband of 50 years has just died, the funeral has been held and he has been buried. In the middle of this grief and loneliness, you remember that you had named each other as executors in your respective wills....

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Retirement Income Withdrawal Strategies

in Blog
by Russell Sawatsky

Money In and Money Out When I worked for the discount brokerage division of a major Canadian bank, I learned that the investment side of banking was referred to as “Money In.” That is, money came into the bank through investments in Guaranteed Investment Certificates (GICs)...

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Retiring on a Low Income

in Blog
by Russell Sawatsky

After years of working at minimum wage retail jobs without benefits, Donald, age 59, is wondering what his strategy should be for retirement. He knows that he can begin taking the Canada Pension Plan (CPP) as early as next year, when he turns 60, but...

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Creating an Investment Policy Statement

in Blog
by Russell Sawatsky

One of the insights from behavioural finance is that we all benefit from systematizing and automating our financial behaviour. Set up your bill payments to come out of your bank account automatically, and you will never worry about missing your payments again. Sign up for...

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Taking Canada Pension Plan at 65 versus 60 versus 70

in Blog
by Russell Sawatsky

In earlier years, the incentives to begin your Canada Pension Plan (CPP) payments at 60 made more sense. However, a few years ago, the Federal government created a compelling incentive to delay taking CPP. First, for each month before age 65 that you begin receiving...

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Russ Writes

  • DRIP-ping Your Way to Wealth(?)
  • Financial Planning Issues for Common-Law Partners
  • Considering the Constellation of Concerns at Retirement
  • Understanding the Time Value of Money
  • 9 Personal Finance “Jobs” to Tackle in the New Year

Contact

Russell J. Sawatsky
Certified Financial Planner®
T: (519) 852-0318
E: russ@moneyarchitect.ca

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