jlumsden@assante.com

Chapter 6: Estate Planning – Wills and Powers of Attorney

Estate Planning Wills and Powers of Attorney

For your FREE Copy of Preserving Wealth, CLICK HERE Sandra and I had just finished the dishes on Friday night at the cottage while Sally was playing with Connor and Paige out on the screened-in porch. We were all waiting for David’s family to arrive, and Sandra was a bit nervous because it was already […]

What is a Certified Financial Planner?

What is a Certified Financial Planner?

Managing your finances and investments can be complicated. You may not be comfortable investing on your own. If you need help making decisions about how to manage your finances best, a Certified Financial Planner (CFP®) may be the answer. The CFP® marks after a planner’s name indicate they have achieved and maintain internationally recognized standards […]

What Are the Retirement Income Investment Options? 

Retirement Income Investment Options

As you transition from your working years to retirement or optional work years, creating a cash flow stream from your investments is critical to retirement planning.  There are five main retirement investment options to consider when developing a prudent plan for retirement cash flow: Income Only Investing, Income Focused Investing, Guaranteed Income Products, Total Return […]

Chapter 5: Protecting Your Family

Chapter Five of Preserving Wealth about Protecting your Family

For your FREE Copy of Preserving Wealth, CLICK HERE The following weekend, Sandra and I woke up early on Saturday. The water was still, and the sun was just beginning to burn off the morning haze. We decided to slip down to the water for a quick swim before the kids woke up. When we […]

RRSP Maturity Options: What you Need to Know

What you need to know for RRSP Maturity Options

If you are turning 71 this year  (born in 1952), you must convert your RRSP to an income plan by the end of 2023. It should be noted that you can convert your RRSP to an income plan at any age prior to 71. KEY TAKEAWAYS: We will review the three income options. We will […]

Strategies when Receiving an Inheritance

Strategies when Receiving an Inheritance

Excerpts from the Book – Preserving Wealth – written by Jack Lumsden, MBA, CFP®  Having a reputable Financial Advisor is a good start. For the short term, one should be looking both at the safety of the money and at the interest rates they can earn. “If you deposit the money at your bank or […]

Chapter 4: Tax Concerns, RRSPs, and TFSAs

Chapter Four of Preserving Wealth The Next Generation

For your FREE Copy of Preserving Wealth, CLICK HERE We were finishing up the Cajun hot dogs when David had the gall to complain that his were a bit more Cajun than usual. I told him that if he didn’t keep quiet, he might wind up with a good ol’ Louisiana-style blackened steak for dinner […]

Resources to Review As You Approach Retirement

Resources as you approach retirement

As you reach your mid to late 50s and early 60s (and as you look in the mirror), you begin to realize you are closer to the end of your career than the beginning. You start to take a closer look at your finances and wonder if you will be able to retire at some […]

Key 2023 Financial Planning Facts and Figures

Key Financial Planning

RRSPs Spousal RRSP Rules TFSAs Old Age Security (OAS) OAS Claw Back (recovery tax) 2023 Canada Pension Plan (CPP) Payments Registered Education (RESP) Limits Probate Fees in Ontario  Ontario Withholding Tax for RRSP and RRIF withdrawals:  2023 Canadian Controlled Private Corporation (CCPC) Tax Rates for Ontario Important Dates: Source of Information:   Download our White […]

Chapter 3: Protecting and Preserving your Wealth

Chapter Three of Preserving Wealth

“Well, David, I have to say one thing—you sure have become a good cook. This has been one of the best breakfasts we’ve had all summer.” David’s face was rife with suspicion as he glanced over at Alice. “It’s only our second Saturday breakfast, dear, and I think I know why you’re buttering me up. […]