Should we take Advantage of our unused RRSP contribution limits?
Excerpts from the Book – Preserving Wealth – written by Jack Lumsden, MBA, CFP® A common question that we receive every year prior to the RRSP deadline is should we take advantage of our unused RRSP contribution limits? Your RRSP deduction limit is how much you can contribute to your RRSP based on your prior […]
The Essential Steps as You Prepare for Retirement
Download the White Paper: How to Make the Transition to Retirement HERE. Typically, within 5 years of your projected retirement or work-optional date, it’s important to start taking key steps to ensure a smooth transition. This is a critical period to begin aligning your financial strategies with your future lifestyle goals. While everyone’s situation is […]
Rebalancing Your Portfolio
Excerpts from the Book – Preserving Wealth – written by Jack Lumsden, MBA, CFP® Today we are going to be reviewing portfolio rebalancing, and how it can be used to your advantage. Sometimes it is hard to know when to make adjustments and when to leave your portfolio alone. By creating a systematic plan, you […]
You better have a Plan for a Retirement Home
“You better have a Plan for a Retirement Home, as I am not funding that bill.” Excerpts from the Book – Preserving Wealth – written by Jack Lumsden, MBA, CFP® While having dinner with our daughter Paige the other night, the topic of money came up. Paige told us, “you better have a plan for […]
How Business Owners Can Boost Retirement Savings with an Individual Pension Plan (IPP)
As a Canadian business owner or incorporated professional, planning for retirement goes beyond relying on your business value. An Individual Pension Plan (IPP) offers a strategic retirement tool, particularly beneficial for high-income earners aged 40 and above. What is an IPP? An Individual Pension Plan (IPP) is a defined benefit pension plan registered with the […]
What are the Top 26 Estate Planning Tips to Consider?
Estate Planning helps ensure a stress-free transition of your assets to the next generation or intended beneficiaries. Excerpts from the Book – Preserving Wealth – written by Jack Lumsden, MBA, CFP® The Top 26 Estate Planning Tips… from Preserving Wealth: The Next Generation. Have up-to-date wills. Have up-to-date powers of attorney for both property and […]
How Does Retirement Spending Change as You Age?
As people transition into retirement or semi-retirement, they often wonder how much they can safely spend without running out of money. Although no one can predict exactly how much they will spend 30 years from now, creating a projection is essential for planning. On average, retirees tend to spend less as they age. Here’s how […]
Preserving Wealth: Chapter Four, Tax Concerns, RRSPs and TFSAs
Authored by Jack Lumsden, MBA, CFP®, Financial Advisor, Assante Financial Management Ltd. For your FREE Copy of Preserving Wealth, CLICK HERE Uncle Wayne, with his wealth of financial knowledge, shared invaluable lessons on tax concerns, RRSPs, and TFSAs. Understanding these concepts can significantly impact your financial planning and retirement success. In this chapter summary, we’ll […]
What is Your Bear Market Plan in Retirement?
Just like the sketch above by Carl Richards, becoming more conservative after a market decline is not a strategy but a reaction. Everyone should have a plan in place before any market decline or bear market. Unfortunately, market declines and recessions will happen regularly, so your financial and retirement plans must consider them when developing […]
Preserving Wealth: Chapter Three, Retirement Income and Cash Flow Planning
Authored by Jack Lumsden, MBA, CFP®, Financial Advisor, Assante Financial Management Ltd. For your FREE Copy of Preserving Wealth, CLICK HERE Uncle Wayne discusses retirement income and cash flow planning as critical aspects of financial planning, particularly as individuals transition from working to retirement. He delves into the intricacies of planning, managing investments, and mitigating […]