For those of you still shaking off the hassle of this year’s returns, the planning for next year should start now. And one way to stay a step ahead and to improve next year’s returns is income splitting.
No sooner have you navigated the RRSP contribution deadline, then another key date looms into view – your annual income tax return. If only the world was so keen to remind you to watch movies or take a vacation!
The Value of Advice: Finding the Active-Passive Balance
February 27, 2024
For the most important aspects of your life, there is typically a half a dozen things that matter. Keeping healthy means daily exercise, eating well, a good night sleep, finding me time, positive personal relationships, and moderated drinking. Investing and accumulating wealth is no different, there are only a few things that really matter...
According to The Beatles, money can’t buy you love but as many people will attest, money can certainly destroy. Paul McCartney was always the Fab Four’s hopeless romantic.
When it comes to personal finances, January can be a month when the festive adrenaline eases and your own economic reality hits home. The cure lies in forward-thinking, positive mindset and goal setting.
Even those who despise golf will likely have heard the saying, “driver for show, putter for dough.” The premise: that smacking the ball 300 yards looks great but the ability to get it in the hole is what determines success.
You have just come into some new money from the sale of a business, an inheritance or just a big commission check. Regardless of the scenario, new money is the seed of your future, and you find yourself pondering what financial field to plant it in.
It sounds counterintuitive but words rather than numbers are likely to dictate the success of your family’s transfer of wealth. Most people turn to a financial advisor simply for a tax-efficient estate plan to ensure their heirs inherit as much as possible. But what good is that if the next generation are ill-equipped to deal with it, either because the money comes as a surprise or because they’re too entitled to handle such a windfall?
Navigating the breaks and rules to your advantage is a legitimate tactic to not only keep more money in your wallet but also fuel your family’s legacy, whether that’s through charitable donations, community work, or simply ensuring the kids’ and grandkids’ futures.
Even if you are a long-term investor with a well-diversified portfolio, market volatility has introduced many to negative statements for the first time. The instinct to look for safety and pull your money out of the market may be understandable but is potentially fatal to your retirement portfolio.
Time is your greatest investing partner, but its value can be overlooked. Passive and quiet, this partner won’t bang on your door and say it’s time to get started, that part is up to you.
Not All Income is Equal - Three Categories to Consider in 2023
May 17, 2023
Now is a great time to look at your income investments. Recent interest rate hikes in North America have significantly reduced the prices, making 2023 an interesting entry point.