When do you need the money?

Money

In a meeting with a potential client, they asked, “How should I invest the money I just received?” The key issues to review are: What is the money for? When do they need it?  Situation: They had just received $400,000 income from a company they were associated with.  Due to the structure of the business, […]

Do you need Disability Insurance?

Disability Insurance

Photo by Victoria Borodinova from Pexels While reviewing the financial documents during a meeting with a couple in their forties who wished to create a retirement plan, I didn’t see any disability insurance for one of the spouses.  He had a group disability policy with work, but she was self-employed and didn’t have one.  She mentioned they had […]

Trusts for Retirees – Probate Planning

When estate planning, most retirees wish to review strategies to avoid probate fees, which in Ontario are 1.5% of the value of the asset that is distributed via a will.  A potential client asked, “Can trusts be used to avoid probate costs when we transfer assets to the next generation?” The answer is yes. For retirees, […]

Nine Tax Strategies to Pay Less Tax in Retirement

Income tax is one of the largest expenses any retiree has. The Fraser Institute Report indicated that Canadians paid 45% of income as taxes in 2019.  Your goal in retirement should be to organize your income stream to: reduce the amount of tax you may have to pay  preserve any government tax credits preserve government […]

The 38 Blog Posts from 2021

I would like to thank all of you who have visited our blog and website. Below I have sorted the 38 blog posts I wrote last year by topic of interest to make the content easier to find. Some of the articles are good, some are ok, and some are……  Feel free to forward them […]

The Three Estate Buckets

Estate Buckets

Annually with clients, we review how their estate will be distributed to their beneficiaries. We determine if there are any changes in their desires, or opportunities to save taxes and/or fees. In a recent webinar by  Michael Kitces, Mathew Jarvis, a US Financial Advisor, shared a concept he uses with clients called the Estate Buckets. I […]

What do I do if I don’t want to be an executor?

The question that arises occasionally from clients is: Can you turn down the role of an executor if you are named one?  Why turn it down? You may not want to be the executor due to family conflict, or the job may be too much for you. So, can you turn the role down?  The simple […]

Risks to Retirement Income Planning

Retirement Income Planning is a speciality in the world of financial advice. There are specific risks that are different from simply saving for retirement. It requires a different skillset for the advisor to be able to plan for the specific risks when developing an income plan that will last a family’s entire lifetime.   From my […]