2022 Year-End Planning Checklist

checklist year end

The end of the year is a great time to take a quick review of your personal finances to determine if you have any action items prior to December 31.   To help this process below is a checklist that covers events, milestones, taxes, insurance, and retirement plans – areas that often need attention prior to […]

4 Things Retirees Should Know About the 4% Rule

4 percent rule

When people are looking to make the transition to retirement, they want to know how much they can spend each year without running out of money. The amount of capital you can safely withdraw from your portfolio each year without running out of money has been called the “Safe Withdrawal Rate.” There is something called the […]

Chapter 2: THE DOUBLE O’s – What You OWN and What You OWE

What you owe and own

Chapter 2: THE DOUBLE O’s – What You OWN and What You OWE Even though the first meeting was set for our cottage, I was surprised when Aunt Lorraine and Mark showed up so early on Saturday morning. It seems Mark’s boys had come up for the weekend with their girlfriends, and the atmosphere was […]

What to do during a Market Downturn or Recession

Market Turndown and Recession

With the market decline this year and a potential recession, people want to know what they should do with their investments and financial plans. You can take the following suggestions and actions to help navigate a market downturn. Key Suggestions Avoid doing anything drastic With a market decline, it can be tempting to get out […]

Your Retirement Road Map: How to Make the Transition to Retirement

Transition to Retirement

White Paper INTRODUCTION Likely you have worked most or all your adult life, often for over 30 years. At some point you will be looking to make the transition to retirement, or perhaps have the ability to make work optional. Typically, when you first started to work, your largest financial asset was your ability to […]

Six Unique Risks to Retirement Income Planning

Risks to Retirement

As part of the retirement income planning puzzle, there are several unique risks or challenges that you must account for in your planning for retirement that are different from the risks when simply saving for retirement. Unknown Time Frame – Longevity Risk: No one knows how long they will need their income to last, but […]

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 […]

Planning your Will and Powers of Attorney

Will and Power of Attorney planning

A common question we received is what we should consider when planning our wills and powers of attorney.  The following excerpt from the Book – Preserving Wealth describes this. APPENDIX C: PLANNING YOUR WILL AND POWERS OF ATTORNEY Introduction This document contains background information regarding the planning of your Will and Powers of Attorney. Its […]

Retirement Income Withdrawal Strategies

Retirement Income Withdrawel Strategies

Retirement Income Withdrawal Strategies In our conversations with people making the transition from their working years to retirement, many have done a great job of saving over time. They end up with many potential retirement-income sources but are unsure of how to put it all together.  As a result, retirement income planning has been compared […]

What is the Tax-Free First Home Savings Account?

Tax Free First Home Savings Account

In the 2022 Federal Budget, the federal government proposed a new savings vehicle for first-time home buyers. The Tax-Free First Home Savings Account (FHSA) is a registered account designed to help individuals with savings for their first home. Eligbility You must be a Canadian resident and: Be 18 years of age or older, Have not […]