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Fulfilling Your Wishes

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With many Baby Boomers now moving into their sunset years, the growing concern is how they will efficiently and effectively plan for the transfer of their wealth to the next generation? A recent survey by RBC Wealth Management estimated that the amount of money changing hands over the next twenty years is about $400 billion. Yet, only 22 per cent of wealthy Canadians have a detailed Estate Plan…

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It Doesn't Pay to Procrastinate

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Many people have no idea. Some people have a vague idea. A few people, a very few, have it all worked out. When it comes to retirement planning, many people do not take action until forced to by a mid-life event (career change, death of loved one) or by hearing about seniors running out of money. It is strange that people find it so difficult to plan for their retirement. As all the basic…

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RRSP Vs. TFSA: Which is Better?

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With the lifetime contribution room of a TFSA now at $52,000 for most people, TFSAs are now a serious portfolio and investment planning alternative to making RRSP contributions. So which is better you ask? Well, it depends… If you are a Canadian with significant assets and savings then maximizing your TFSA makes sense as a retirement income planning strategy. The income from it during your…

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How to Start An Investment Plan

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Wouldn't life be better if it was easier to get ahead? For many, there's just too much month left over at the end of the pay cheque. After all, you've got a mortgage or rent and utilities to pay, food and clothes to buy, and a vehicle to operate. First, let's understand the difference between saving and investing. Deposits in a savings account are for short-term goals like a vacation, new…

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Mental Health Impacts Retirement Planning Strategies

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The unfortunate truth about aging is that the human brain deteriorates as we age. While the process is vastly different depending on the individual and their health and circumstances, the rate of deterioration cannot be predicted with any level of certainty. It doesn’t cater to genetics, family history, or life habits. Sometimes clinical diagnoses like Alzheimer’s are a factor, other times it’s…

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