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 […]
The Importance of Having a Will
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 […]
When should you start collecting CPP?
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.
Will your children be able to afford the Capital Gains Tax on the family cottage?
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 […]
Now is the time to think about replacing your Mortgage Insurance with something better!
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 […]
To Sell or Not to Sell: Navigating the New Tax Increase on Capital Gains
The federal budget’s proposed increase in the capital gains inclusion rate has some asking: “Should I trigger my gains now?” Some of the loudest noise emanating from the series of budget announcements is how capital gains will be taxed after June 24, 2024. Prior to this date, when you have a gain on the sale […]
Life Insurance for Those Living with Diabetes or Other Chronic Health Conditions
Life Insurance protection is one of those necessary “nuisance expenses” for those of us who generate income for our families – income that would disappear if we suffered an early death. If you have a chronic health condition, the ability to purchase life insurance is not a nuisance, but a priority to protect your family. […]
Preparing for the Future with a Registered Education Savings Plan
As 2023 comes to a close, it is important to consider financial contribution deadlines, like the one within an RESP savings account. READ: University campus tours are in full swing. But even parents with RESPs lack an education financial plan – The Globe and Mail An RESP savings account is a key component in preparing […]
What is your Retirement Number?
When it comes to retiring the crucial question business owners and employees want to know is: What’s my number? This question extends beyond merely a rhetorical inquiry—your number is about understanding how much you can comfortably spend in your retirement years without outliving your savings. There are steps that need to be taken early enough […]
Time to think about replacing that Mortgage Insurance
With spring in full swing, and the real estate market at a peak of activity, Canadians are qualifying for mortgages in droves. If you get a mortgage, you’ll want to protect yourself with insurance – either mortgage life insurance or personal life insurance. But which is the better option? Although mortgage life insurance might seem […]