Essential Insights from the Double O’s: Chapter Two
Authored by Jack Lumsden, MBA, CFP®, Financial Advisor, Assante Financial Management Ltd. For your FREE Copy of Preserving Wealth, CLICK HERE Chapter 2 delves into the importance of assessing one’s financial standing through the “Double-O Lists” – what you Own and what you Owe. Set in a familial setting, Uncle Wayne imparts invaluable wisdom, stressing […]
Retirement Tax Layering: Partial RRIF/RRSP Conversion
Authored by Jack Lumsden, MBA, CFP®, Financial Advisor, Assante Financial Management Ltd. Additional editing by ChatGPT. For your FREE Copy of Preserving Wealth, CLICK HERE Introduction Retirees contemplating their financial strategy often find value in Retirement Tax Layering which is strategically converting a portion of their RRSPs to RRIFs before reaching the age of 71. […]
What are 7 Key Lessons for Inheritance and Financial Planning?
Preserving Wealth for the Next Generation In the first chapter of Preserving Wealth for the Next Generation, we are introduced to a family gathering at their father’s summer cottage in Honey Harbour. It’s the opening weekend of summer, but it’s filled with mixed emotions, as the family is coming to terms with the loss of […]
What Should We Do with the Change in Capital Gains Tax?
For your FREE Copy of Preserving Wealth, CLICK HERE The latest budget has proposed an increase in the capital gains inclusion rate for individuals, corporations, and trusts starting June 25, 2024. However, this part of the legislation is being introduced separately from the main bill. Should you do anything before then? Let’s break down the […]
What are the Two Main Types of Risks when Investing?
For your FREE Copy of Preserving Wealth, CLICK HERE Excerpts from the Book – Preserving Wealth – written by Jack Lumsden, MBA, CFP® There are basically two main types of risk: Capital Preservation Risk and Inflation Risk. “Capital preservation risk is the risk that your capital is not there when you need it. Let’s say […]
Earning Investment Income in a Corporation – Budget Update
For your FREE Copy of Preserving Wealth, CLICK HERE Written by: Jack Lumsden, MBA, CFP®, Financial Advisor, Assante Financial Management Ltd. 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 […]
How much income do you need in Retirement?
Excerpts from the Book – Preserving Wealth – written by Jack Lumsden, MBA, CFP® For your FREE Copy of Preserving Wealth CLICK HERE How Much Income Do You Need in Retirement? The following is an excerpt that describes how much income you need in retirement – “You’ve been retired for a while. How much income […]
Introducing the Canadian Dental Care Plan (CDCP)
Written by: Jack Lumsden, MBA, CFP®, Financial Advisor, Assante Financial Management Ltd. For your FREE Copy of Preserving Wealth CLICK HERE In January 2024, Canada introduced the new Canadian Dental Care Plan (CDCP), aiming to provide essential dental care support to Canadians. Link to the Government of Canada SITE Key Facts: PLEASE NOTE: It […]
Executor Not Equal to Power of Attorney
Executor ≠ Power of Attorney For your FREE Copy of Preserving Wealth CLICK HERE Written by Jack Lumsden, MBA, CFP®, Financial Advisor, Assante Financial Management Ltd. One common source of confusion in estate planning is distinguishing between the roles of executor and Power of Attorney. Executor Your executor is the individual designated in your Will […]
How do you Develop a Diversified Portfolio?
How do you Develop a Diversified Portfolio? For your FREE Copy of Preserving Wealth CLICK HERE Excerpts from the Book – Preserving Wealth – written by Jack Lumsden, MBA, CFP® “So how do you actually develop a diversified portfolio?” asked Sally. “I understand the basics between bonds and equities, and clearly I haven’t been doing […]
