Blog | Crawford • Ashwood Financial

People change employment for any number of reasons; some are voluntary whilst others are forced. There are a lot of critical decisions that have to be made at times like these. When considering what to do with an employer sponsored pension plan, or Group RRSP there are a number of things you need to determine. Defined Benefit Pension Plan Find out how well funded it is. If it is a large viable company and has a small shortfall it may be fine to leave it in their hands. It is important to have a sense of how well managed the…

We are thrilled to announce the launch of our brand new website: Crawford • Ashwood Financial First, we’d like to thank all of our clients for your wonderful feedback of our Ten Cent Nickel blog over the past few years, and for sharing our articles with your family and friends. Our business grows solely with the referrals we receive from our wonderful clients, and we appreciate your ongoing support and trust. Our blog is now wrapped all-in-one to our new website, so you will still receive our new post notifications via email; however we suggest that you update your browser…

Our new government has kept their promise to reduce the Tax Free Savings Account (TFSA) limit back down to $5,500 per year. But don’t worry; you aren’t losing any contribution room that has already accumulated. Anyone opening a brand new account today would have a limit of $41,000, and that will rise by another $5,500 on January 1st, 2016. So, new accounts or maximums for previously opened accounts will be $46,500 in the New Year. We recommend you check with your accountant or tax preparer, or log into your CRA My Account online, to ensure you don’t over contribute if…

In my previous blog post I discussed the oldest form of pension plan—the Defined Benefit Plan (DBP). The vast majority of employers today have moved to a Defined Contribution Pension Plan (DCP). The reason for this is that unlike a DBP, once they have made their contribution, the employer is no longer on the hook for a specific monthly retirement benefit for the employee. There is no liability to the employer to keep funding the pension plan over and above what they have agreed to contribute on your behalf. In a Defined Contribution Plan the employer agrees to contribute to…

As your advisor, it is important that I am aware of all the pieces of your financial life. If you are one of the fortunate people who have a pension or Group RRSP through your employer, we must examine just how much this plan will contribute to your retirement income—and whether you can rely on your work pension plan. First, let’s explore the Defined Benefit Plan. If you have one of the old pension plans that have been in existence for decades, it may well be a Defined Benefit Plan. These are often fully funded by the employer, and they…

Given the headlines of the past few days I thought I would share some comments below from a small collection of experienced money managers; and add a couple of my own. Fidelity Investments: Long-term bull markets never move in a straight line and it is normal to see short-term corrections along the way. Staying fully invested can give investors an opportunity to fully participate in the markets long-term upward trend. Waiting until the backdrop feels “safe” to make an investment in stocks, has historically not been a good method of achieving future returns. Many of the best periods to invest…

Not many people like to think about death, and certainly not our own disability or demise. As unappealing as it might be to start planning for this inevitability, it has to be done. The Legal Stuff First, get the legal stuff done. There are many documents you may need to consider, and the good news is that it is likely not as complicated or expensive as you might imagine. A Will Everybody needs a will; however studies show less than half of Canadians actually have a will. A will is there to explain what you want done with your assets…

I am sharing this article with you (written by one of our favourite investment managers) because it echoes some of my Basic Financial Principles. I have always coached my clients down the emotional road to financial success, and we can’t overstate the emotional part of that statement. Read on to see how successful investing is and is not accomplished. Written by EdgePoint Wealth Apr 14, 2015 Time and again, do-it-yourself investors pile into the wrong stuff. They want to build their wealth yet end up in investments that separate them from their hard-earned savings. Following are some classic bad moves…

Most people have a limited income with unlimited ways to spend that income. There are so many current and possible expenditures that pull at us; it is often hard to know which should be our priorities. Let’s take a look at what your options are and which could and possibly should be the most important. Current living expenses include necessities such as food, shelter, warmth, and transportation. It is really important that you live within your means. I can’t stress this enough. If you have more money going out than coming in, then you need to take a hard look…

Earlier this week, the 2015 Federal Budget announced that the Tax Free Savings Account annual contribution limit will be increased from $5,500 to $10,000 per year. The government has said that this change will be effective immediately (and be retroactive to January 1st). What This Means for You If you have not already made a 2015 deposit into your TFSA, you can do so now up to the new maximum of $10,000 (if you have not maximized previous years contributions you may actually have more room). If you have already made a contribution of $5,500 this year, you can add…

Leaving Your Current Job or Retiring?

New Year | New Website

2016 TFSA Limit

What Kind Of Pension Plan Do I Have? – Part Two

What Kind Of Pension Plan Do I Have? – Part One

Market Shock

Estate Planning

How not to pick a mutual fund

Financial Priorities

Save More for Later