The Crime of the 21st century – Elder Financial Abuse “While her mother was in the hospital, Karen moved her mother’s silver tea service, some valuable books and a grand piano to her own home. When her mother returned from the hospital, she asked the police to assist her in recovering her stolen property. Karen stated that she had taken the goods for safe-keeping and that these items are heirlooms belonging, not just to the mother,...
Read MoreRetiring Unexpectedly? Here’s How Your Advisor Can Help Who Is Considered A Dependent For Health Insurance It varies from plan to plan, but usually for health insurance, a “dependent” is defined as a person, especially a family member, who relies on another for financial support. This typically means your spouse and children. Your dependents are covered under your plan, which means they could be entitled to benefits under your...
Read MoreAre you approaching or have
you recently begun investing
for your retirement? Are you
thinking about what your
financial future might look like
during your retirement years?
Considering we are living
longer than any generation
before us, financial planning
for retirement requires careful
attention and long-term
commitment. As we navigate
through life, our spending
habits and priorities change
year by year.
Being Smart with Your Finances Starts with Understanding Your Retirement Plan & Having an Investment Strategy A pension plan is a valuable component to any retirement plan. If you are participating in a pension plan at work, you should be receiving a pension plan statement at least annually from your pension plan provider illustrating the performance of your pension plan. Read your statement carefully, often it will include an estimate of the projected income you could expect at retirement.
Read MoreThe TFSA was introduced to us on January 1, 2009 by the Conservative Government to curb the growing belief that Canadians are becoming inherent spenders, not savers. Since then, the TFSA allows Canadians to contribute in a tax sheltered and ultimately tax-free environment. Any investment growth, interest and capital gains accumulated within the investment are considered effectively “Tax-Free”.
Read MoreRegistered Retirement Savings Plan contributions are arguably one of the most beneficial tax deductions available to Canadians.
RRSP contributions for 2016 must be made by March 1, 2017, and they can be done either in advance or to catch up on a previous year’s available contribution room. Here some information on how to reduce your income tax, and learn more about the maximum contribution limits!