“Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn’t, pays it.” The above quote is often attributed to Albert Einstein. Compounding is one of the most powerful forces when it comes to wealth creation. Learning how to harness it within your Registered Retirement Savings Plan (RRSP) […]
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A Tax-Free Savings Account (TFSA) is your ticket to flexible, tax-free growth—whether you’re saving for a dream vacation, a home project, or building a financial cushion. Every dollar you earn and withdraw is completely tax-free. New Year, New Limit! Starting January 1, 2025, the annual TFSA contribution limit is $7,000, offering you a fresh opportunity […]
This holiday season, give the gift of education by opening or contributing to a Registered Education Savings Plan (RESP). Whether it is for yourself, your children, grandkids, siblings or even nephews and nieces- an RESP is a powerful tool to support post-secondary academic aspirations. Why an RESP? Rising Costs: Higher education is costly. Annual fees […]
Once an individual turns 18, they are eligible to open a First Home Savings Account (FHSA) and a Registered Retirement Savings Plan (RRSP). If you are considering purchasing your first home, a savings strategy that is not yet widely known is to combine the First Home Savings Account (FHSA) and the Registered Retirement Savings Plan’s […]
Everyone should have a will as part of their Financial plan, particularly families with young children. Despite its significance, many people overlook the need for a will, often due to perceived misconceptions around cost and complexity. Here are some points why having is so important especially when you have children and how getting one done […]
Should you take CPP early or defer until you’re 70? Our CPP calculator shows your estimated monthly and total payout amounts so you know the best age to start collecting retirement benefits.
In Canada, your principal residence is excluded from any capital gains taxation upon its sale. Any subsequent properties you own, like the family cottage, will incur capital gains taxes upon sale or inheritance. With this, one of the greatest financial challenges your children will face upon inheriting the family cottage is the capital gains tax […]
As a business owner, your employees are your greatest asset. You strive to provide them with the best support possible, including comprehensive healthcare benefits. However, when it comes to mental health, traditional insurance plans may fall short. That’s where a Healthcare Spending Account (HSA) steps in, offering a powerful solution to bridge the gap and […]
Whether you’re buying a new home or renewing your mortgage, you will want to protect yourself with insurance – either mortgage insurance or individual life insurance. But which is the better option? Mortgage insurance might seem like the logical choice but it is not what we recommend to our clients. Did you know that individual […]
