Personal Finance | Crawford • Ashwood Financial

Whether you are purchasing a new home, refinancing, or porting a mortgage, having the right advice on the lending side can make a meaningful financial difference. Most people still go straight to their bank. It feels simple, but it also limits your options. A mortgage broker works for you, not the bank. More options Instead of one lender, a broker can access multiple banks, credit unions, and other lenders. That allows them to match your situation to the right product and pricing. Even small differences in rate can add up over time, but just as importantly, not all mortgages are…

While most people are setting resolutions for health and fitness, why not make a commitment to your financial wellbeing too? Here are some practical ideas to help you start 2026 on the right foot. Top Up Your TFSA or Set Up Regular Contributions The TFSA contribution limit for 2025 is $7,000, and it will stay the same in 2026 for another $7,000. If you haven’t maximized your contributions in previous years, you may have much more room available. For someone who has never contributed since TFSAs began in 2009, the cumulative limit will be $109,000 in 2026. This is a…

Going through a separation or divorce is one of the most emotional and disruptive experiences one can face. Even when it’s mutual or amicable, it brings a mix of grief, relief, uncertainty, and very often, financial anxiety. After supporting many clients through this transition, I’ve learned that people don’t just need information; they need reassurance, clarity, and a path forward. If you’re navigating this chapter, here are some general things to consider to help you rebuild confidence and move toward long-term financial success. 1. Give Yourself Space to Breathe First It’s completely normal to feel overwhelmed. Before you jump into…

Last month, I shared the first post in my Great Wealth Transfer series, discussing how trillions of dollars are expected to move between generations in the coming decades. In this second part, we’ll focus on how estate planning can help minimize the taxes owed, so more of your wealth goes where you intend. There’s no official “death tax” in Canada, but the final tax bill can sometimes feel like one. When someone passes away, most of their assets are treated as though they were sold, triggering potential capital gains and income taxes in the year of death. Add in probate…

Over the next 10–20 years, we will experience one of the largest transfers of money in history—an estimated $1–2 trillion in Canada alone as Baby Boomers pass on their wealth to the next generation. For many families, this may be the single biggest financial event of their lifetime. With so much at stake, it’s not just about what gets passed down, but how. Without thoughtful planning and open conversations, inheritances can create problems. Families may experience financial stress, conflict, or even fractured relationships. Many families avoid conversations about money because it feels uncomfortable, emotional, or even taboo. But silence can…

Inflation is a critical factor in personal finance that can significantly affect your purchasing power over time, particularly as you plan for retirement. As prices rise, the same amount of money will buy fewer goods and services in the future. This blog post will explore how inflation impacts your savings and investments and provide strategies to mitigate its effects, including a calculation on how retirees can maintain their retirement income needs over a period of 20 years. What is Inflation? Inflation is the rate at which the general level of prices for goods and services rises, eroding purchasing power. Central…

When it comes to planning for the future, one must consider naming a Power of Attorney. A Power of Attorney (POA) is a legal document that allows someone else to act on your behalf in various matters, including financial and healthcare decisions. In this article, we will focus on the significance of having a Power of Attorney for Property (commonly referred to as a Financial POA). What is a Power of Attorney for Property? A Power of Attorney for Property is a legal document that grants someone else the authority to handle your financial matters on your behalf. This designated…

Being named an executor of someone’s will is a significant responsibility that comes with various duties and tasks. An executor plays a crucial role in managing the deceased person’s estate and ensuring that their final wishes are carried out. Let’s explore what it means to be an executor. Some of the key responsibilities of an executor or estate trustee include: Planning the Funeral: As an executor, one of your initial responsibilities may involve making funeral arrangements according to the deceased person’s wishes or family preferences. This can involve coordinating with funeral homes, arranging the service, and managing related costs. Inventory…

While many people are making their New Years Resolutions about health and wellness, consider committing to your financial wellbeing too! Here are a few things to think about when writing down your 2024 goals. Top up your TFSAs or consider making a regular contribution The new maximum limit for 2024 is $7,000, however if you have not maximized your contributions in previous years then you will have more than the annual limit to contribute. If you don’t have the cash available for a larger deposit, you could consider making regular bi-weekly or monthly contributions throughout the calendar year to maximize…

In the realm of personal finance, Tax-Free Savings Accounts (TFSA) stand out as a top choice for Canadians in terms of financial flexibility. Introduced in 2009, TFSAs have become a cornerstone for savvy investors and savers alike. Let’s delve into a refresher on key aspects that make TFSA a powerful tool for tax-efficient wealth building. 1. What is a TFSA?A Tax-Free Savings Account is a versatile investment vehicle that allows Canadians to earn investment income and capital gains tax-free. Unlike traditional savings accounts, TFSAs offer a broad range of investment options, making them an effective tool for growing wealth over…

Category Archives: Personal Finance

Mortgage Brokers

New Year Financial Wellness Goals

Life After Separation or Divorce

How to Minimize Estate Taxes in Canada

The Great Wealth Transfer

The Impact of Inflation on Savings and Investments

The Role of Power of Attorney

Importance of Executor / Estate Trustee

Happy New Year

The Power of Tax Savings