Financial Library

The Evolution of Advice

Posted on March 12, 2018

To get the best out of your current financial advisor, you need to better appreciate what kind of advice is available to you today versus in the past. And more importantly, what the provision of advice now and in future may look like and how this may impact your ability to access quality advice. The rich do and will always have the ability to pay for the best advice available. The vast majority of Canadians have a more limited ability to access advice depending upon their personal financial resources.

Tags: 
advice
strategy

Are You Prepared For the Unexpected?

Posted on March 12, 2018

Besides 'death' and 'taxes', the other certainty in life is that life is full of unexpected events. So why aren't we more prepared for financial stresses when they occur?

With the odds of an unexpected event such as a job loss, a medical emergency, a debilitating accident, or a death in the family fairly high when you consider them all together, many Canadian families are just one paycheque away from financial disaster. When these risks are considered as a whole, the question is not IF a financial shock will occur, but when.

Tags: 
insurance planning

Debt Reduction as a Retirement Savings Strategy

Posted on March 12, 2018

Statistics Canada recently reported the ratio of household credit market debt to disposable income reached the highest level since the agency began tracking this figure. In 1990 it was 50%, rose to 110% in 2000 and jumped to 171% by the fourth quarter of 2017. This can cause some angst for those with children reaching post-secondary school age.

Tags: 
retirement planning

Tick Tock: RRSP Season is Here!

Posted on February 12, 2018

I am continually amazed at the number of people, who have high incomes and savings, that fail to take full advantage of the preferential tax treatment of RRSPs versus other types of investment or savings accounts. This is especially true for business owners who often have retained earnings in their corporations while also having massive amounts, sometimes $50,000 or more, in unused RRSP contribution room.

Tags: 
retirement
rrsp
tfsa

Procrastination - Your Financial Dream Killer

Posted on February 12, 2018

Despite what many people think, the number one financial dream killer isn't portfolio losses, or financial emergencies, or unemployment, and not even natural disasters. The number one reason people fail to reach their financial goals is procrastination - putting off the inevitable until the cost of your dreams or goals become prohibitively expensive.

Why People Procrastinate

Tags: 
financial strategies

Don't Bet Your Retirement on a Simple Approach

Posted on February 12, 2018

You have probably heard about the old 70 percent rule that suggests retirees will need the equivalent of about 70 percent of their current income level to maintain their lifestyle in retirement. This assumes that retirement living costs will be 30 percent less during working years. While it may have been applied appropriately for retirees two or three decades ago, it is fraught with significant risk and potential disaster for today's retirees.

Tags: 
retirement planning

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