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. […]

Tax-Free Savings Account (TFSA) Update for 2023 

Tax Free Update for 2023

Key Items:   Resource: Tax-Free Savings Account Guide for Individuals TFSA Summary A Tax-Free Savings Account (TFSA) is a type of savings account that has been available to Canadian residents over the age of 18 since 2009. Contributions to a TFSA are not tax deductible, but any income earned within the account is tax-free.  You […]

The 32 Blog Posts from 2022

Blogs from 2022

Below I have sorted the thirty-two blog posts I wrote last year by topic of interest to make the content easier to find. Some of the articles are good, some are ok, and some are… Feel free to forward them to any family or friends who may find them of value. If you have any […]

What are Segregated Funds?

Segregated Funds

Many people are familiar with mutual funds as an investment but are not as familiar with segregated funds. Segregated funds are investment funds (like mutual funds) that life insurance companies offer.  How are they similar to mutual funds? The key features that are different from mutual funds: Unique Uses for Segregated Funds  If you invest […]

What should you expect in regular progress meetings with your advisor?

Regular Progress Meetings

Regular progress meetings should be scheduled during the year to update and adjust your retirement income plan. Your advisor should behave more like a guide to help you navigate the changes in your life by adjusting your Retirement Road Map to keep it on track. As part of this effort, a regular and ongoing review […]

Where do Financial Advisors work?

Financial Advisors

If you are unwilling to create and manage your own Retirement Road Map, you will want to find an advisor that specializes in working with people who, like you, are planning for the transition to retirement or who may already be retired. A report from July 2014 called “Sound Advice Insights into Canada’s Financial Advice […]

Key Tax Credits to Review

Tax Credit Reviews

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

Preserving Wealth

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 […]

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, […]

Nine Tax Strategies to Pay Less Tax in Retirement

strategies for retirement

Income tax is one of the largest expenses any retiree has. The Fraser Institute Report indicated that Canadians paid 45% of income as taxes in 2019.  Your goal in retirement should be to organize your income stream to: reduce the amount of tax you may have to pay  preserve any government tax credits preserve government […]