Registered Education Savings Plan (RESP)
My kids are 18 and 20, does setting up a new Registered Education Savings Plan (RESP) still make sense? A new client asked if it still made sense to set up a new RESP for his kids, who were aged 18 and 20. His ex-spouse already had an RESP for the children, but he wanted […]
Three of Our Best Insights for September
Monthly One – Two – Three Newsletter RESOURCE: What is Your Bear Market Plan in Retirement? Unfortunately, market declines and recessions will happen regularly, so your financial and retirement plans must consider them when developing your retirement income and spending strategy. You Could Have 6 Bear Markets Over Your Retirement. Since 1956, the Canadian […]
Questions to Ask When Interviewing a Financial Planner
Excerpts from the Book – Preserving Wealth – written by Jack Lumsden, MBA, CFP® Deciding on which financial planner to hire is a particularly important decision for families to make. The following are key questions that FP Canada has designed to help in the selection process. How to Interview a Financial Planner Financial planners can […]
Game Plan Strategy: Your Monthly Financial Checklist
This Month’s Focus: Tax Planning Tips to Keep More of What You Earn Smart tax planning can make a real difference—not just today, but over the long run. This month’s checklist gives you proactive steps to help lower your tax bill and avoid common oversights. Taking just a few minutes now can help you keep […]
Three of our Best Insights for July
Our Monthly 3-2-1- Newsletter RESOURCE: Preserving Wealth: Chapter One, What are the 7 Key Lessons for Inheritance and Financial Planning? 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 […]
What are the Different Investment Classes?
Excerpts from the Book – Preserving Wealth – written by Jack Lumsden, MBA, CFP® Before you invest your money, you should understand what the actual investment is. The following passage describes the three basic investment classes. Alice had listened politely but was clearly getting impatient. “So, Uncle Wayne, you know our situations. What should we […]
What is the Process Once you Hire a Financial Advisor?
Excerpts from the Book – Preserving Wealth – written by Jack Lumsden, MBA, CFP® I was speaking to someone on the phone a couple of weeks ago, and the question they asked was “what is the process after we hire a financial advisor?”. This is a very important question to have answered, and the response […]
Three of our best Insights for May
Our Monthly 3-2-1- Newsletter RESOURCE: What are the 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 […]
The R6 Retirement Playbook™ A Smarter Way to Retire with Confidence
Retirement today isn’t what it used to be. People are living longer, everything gets more expensive, markets are unpredictable, and tax rules keep changing. That’s why we created the R6 Retirement Playbook™ — a simple, six-part process to help you build income you can count on, reduce taxes, protect your lifestyle, stay flexible, and feel […]
RRSP Maturity Options: What You Need to Know
You don’t have to wait until you’re 71 to convert your RRSP. You can do it anytime before then, depending on what works best for your retirement income strategy. The key is choosing the right option based on your goals, cash flow needs, and tax situation. If you are turning 71 this year, you must […]