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Why You Need To Plan For Retirement Part 3 of 3-Part Series All of these factors and many more are built into a well-structured retirement financial plan by your financial advisor. The main pillars of a retirement structure are the accumulation and deaccumulation plans. An accumulation plan is a strategy in which you contribute a set amount of money to your portfolio on…
Why You Need To Plan For Retirement Part 2 of 3-Part Series We won’t delve into the technical side of retirement planning, that’s a conversation you need to have with your financial advisor. But the broader details are important for you to understand when having that discussion. As the very base of it, money you earn now needs to be invested so it…
Why You Need To Plan For Retirement Part 1 of 3-Part Series For you, retirement is probably a long way off, many years in the distant future. For something so far away which will be just a short period in your life, it doesn’t really make sense spending too much time planning for that, right? It’s a common way of thinking, especially…
How Taxes Affect Your Income and Investments Part 2 of 2-Part Series This blog is a continuation of the previous piece which discusses taxes and our income streams. Part 1 explores the very basic understand of the different kinds of income and a general Canadian tax structure. Part 2 now dives into the details. The taxes which come off our…
How Taxes Affect Your Income and Investments Part 1 of 2-Part Series For most us, putting our heads down and working hard in our careers is how we’ve managed to put away some money in the savings account. There’s no secret formula to it, and it will likely continue to bear fruit as long as we continue to do it.…
Every human has their time, and with that realization comes an attached reality – you need to plan out your will. Many Canadians are simply unprepared for this eventual, irreversible scenario. An Angus Reid Institute poll from 2018 showed that 51% of Canadians haven’t bothered to create a will, while 35% haven’t maintained or updated their existing one. This should…
The big question on many people’s minds going into 2021 will be whether to focus investing in an RRSP, or a TFSA account. Recent events have made the waters even murkier, with unforeseeable financial paths emerging as the world economy starts back up again. And start up, they have. While strategic lockdowns with specific criteria are popping up, most of…
Choosing the right personal financial advisor isn’t easy, especially within Canada where the industry is not particularly regulated province-to-province. Financial advisors vary both in training, experience and qualifications, while others may be registered with a regular to provide investment advice. It’s important to understand what a Financial Advisor actually does, before going about choosing one. Typically, Advisors help people manage…
Many folks tend to miss a key difference between a financial advisor, and a financial “adviser,” spelt with an “e.” Others may note the visual difference, but mistakenly believe that they mean the same thing, just with different spelling. In truth, there’s a lot of separation between an advisor and an adviser, and it pays to know how, before you…
COVID-19 continues to represent a worldwide threat, despite the number of cases and deaths beginning to drop. With an economic restart now in full swing in many parts of the world, the question on everyone’s mind will undoubtedly be whether the virus makes a resurgence going into the fall. Needless to say, Coronavirus is still on everyone’s mind, and that…