How to Navigate a Market Downturn for Retirees
With the market decline this year, people want to know what they can do. The following are suggestions and actions you can take to help navigate a market downturn. Key Suggestions Complete a Portfolio Performance Review The first step is to find out if other portfolios with a similar investment mix have declined about the same […]
Paying Your Income Taxes in Retirement
When making the transition from your working years to retirement, a common concern or question that comes up is, “How do I pay my taxes in retirement?” I had this conversation with two clients recently as many retirees are unsure of how taxes work in retirement. Key Takeaways: As a retiree, you pay your income […]
Can we give money to our children to help with a home purchase?
In meeting with clients a common question we hear is, “Can we give money to our children to help with a home purchase?” With real estate prices today, the only way many young adults can afford to purchase a home is with help from the bank of Mom and Dad. People often ask if there […]
The Three Stages of Retirement Spending
When retirement planning, you may want to view your spending in three different phases. Michael Stein, who wrote “The Prosperous Retirement”, divided retirement into three decades: the GO-GO years, SLOW-GO years, and the NO-GO years. When discussing retirement income planning, Frank Jasek CPA, CA and I rephrased those terms based on our experience and have […]
Key Tax Credits to Review
Key Tax Credits to Review As everyone begins to assemble their tax documents to complete their 2021 income tax returns, there are some tax credits you will not want to overlook. Be sure to bring any expenses to your accountant. Here is a helpful list. Carry Charges If you have a fee-based investment account, the […]
Preserving Wealth The Next Generation
The Definitive Guide to Protecting, Investing, and Transferring Wealth. This book is based on my experiences working with many families developing and implementing plans to build, preserve and transfer wealth. I hope you enjoy the first chapter! CHAPTER 1: INTRODUCTION—MEET THE CAST It was the usual opening day for our father’s summer cottage, the May […]
Seven Strategies to Withdraw Corporate Assets for Retirement
A great strategy that many owners of Canadian-controlled private corporations (CCPC) use to build up retirement savings is to invest within their corporation using the benefit of the tax deferral between their personal income tax rate and the small business income tax rate. At retirement business owners may end up with investment assets within their […]
When do you need the 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, […]
How Business Owners can increase their Retirement Savings by Investing within their Corporation.
A great strategy many owners of Canadian-controlled private corporations (CCPC) use to build up retirement savings is to invest within their corporation using the benefit of the tax deferral between their personal income tax rate and the small business income tax rate. Why invest with your CCPC? Investing within your CCPC offers the potential to defer […]
Do you need Disability Insurance?
Do you need Disability Insurance? 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 […]
