Category Archives: Retirement

Save More for Later
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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…

Not Just Investments
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Part of our commitment to your financial well-being, is to look at all the aspects of your financial life (and more), and develop a single, comprehensive and strategic plan. If it has been a while since we reviewed your complete purpose, intentions, values, and goals; it’s time to set up a meeting to get on track. Many of our clients have been surprised to learn of all of the different things we can do. Along with managing your investments, we can assist in ensuring you have adequate protection in the event of your death, or if you fall ill or…

Retirement Income Planning
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Facing retirement full in the face can be a really frightening prospect. Moving from actively earning your income, to passively receiving retirement income leaves many people weak at the knees. Will you have enough income? Should you take CPP early or late? When should you withdraw from RRSPs? Should you buy an annuity or move to a RRIF? What should you do with your company retirement pension or group RRSP when you retire? There are a lot of decisions to make, and it is important to make them informed decisions. Will you have enough income? The most important step here…

TFSA vs. RRSP
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Let’s start with the Tax Free Savings Account (or TFSA). A lot of clients we talk to seem to have the misconception that you get a TFSA at a bank, and make a percent or two in a high interest savings account (if you’re lucky). The fact of the matter is that a TFSA is just another vessel to invest your money, just like an RRSP. Think of it as another hat to put mutual funds, stocks, bonds, and high interest savings accounts into. A TFSA seems to be advertised as a short term or emergency savings vessel, but that…

Financial Planning = Lifestyle Planning
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We are all so busy living day to day, we often don’t take the time, or see the value in looking at the big picture. Or we are afraid of what that picture will look like so we actively avoid thinking about it. The beginning of any plan, financial or otherwise, involves having a vision for your life, both now and in the future. What would you like to do when you stop working at your full time job? Are you someone who is content to be at home surrounded by familiar things, with family and friends? Are you someone…