Retiring with a Pension
How does having a retiring with a pension affect your retirement plans? From a tax perspective, there are numerous advantages, and it can also change how much and when you spend your retirement savings. Follow along as we go through the different ways to maximize the flexibility a pension gives you in retirement. How much can you spend in retirement with a $1.5M Portfolio?
You are 65 years old, and between you and your spouse, you have $1,500,000 saved up for retirement. How much can you actually spend in retirement? Follow along as we examine Chris and Wendy's scenario and examine their expenses pre- and post-retirement. 3 Underused Tax Strategies In Retirement
Here are 3 underused tax strategies in retirement and they involve donating to charity. Before recommending these charitable donation tax strategies to clients, they need to meet certain thresholds. After these two thresholds are met, then we can dive into the three underused tax strategies when giving to charities. The three strategies are withdrawing funds [...] Steer Clear of These Two Mistakes in Retirement
Typically I don't talk about investing in our videos but today I want you to steer clear of these two mistakes in retirement. The two mistakes to avoid are poor portfolio construction not aligning your retirement portfolio with your retirement withdrawal strategy. Why you shouldn’t hire me for a one-time retirement plan
Why you shouldn't hire me for a one-time retirement plan? Because things change over time! As soon as one variable in the plan changes, the plan becomes obsolete. Income needs change, tax rules change, and investment returns vary. A retirement withdrawal plan is not something you create once and can follow blindly for the next [...] Why Most Retirees Underspend In Retirement
Why Most Retirees Underspend In Retirement ? It's common issue I see again and again. Turning the switch from accumulating to decumulating in retirement can be hard. To watch your portfolio go down in value is gut-wrenching for some. The fear of running out of money, kids, and grandkids are the other most common reasons [...] Retiring at 55 with 2 Million
What does retiring at 55 with 2 Million look like? How much will you be able to spend on a monthly basis? Find out as we walk through Heather's situation. How Often Should You Make RRSP Withdrawals?
How do you take money out of your RRSPs tax efficiently throughout the year? How do you do this? Do you withdraw monthly, quarterly, or annually? This is a question we receive all the time. Here are the pros and cons of each withdrawal frequency and what we think about when we go through this [...] Tips for Withdrawing from a Large RRSP
You’ve done a good job saving, and you have a sizeable nest egg set aside in your RRSPs for retirement. But how do you take this money out tax-efficiently? This is the part that most people get wrong and why you hear so many people say they hate RRSPs. Here are tips for withdrawing from [...] Why Living Off Your Portfolio’s Interest in Retirement is Dangerous
What if you could live off your portfolio’s interest without spending any of your principal? Wouldn’t that be something to know that your original capital is still there every time you look at your portfolio? With interest rates higher than they’ve been in years, this seems more possible than ever. However, this can be a [...] Tax Mistakes Every Retiree Should Avoid
There are three tax mistakes that every retiree should avoid. In retirement, there are plenty of tax planning opportunities that can save you a significant amount of money. In meeting with 100s of retirees every year, we see the same mistakes being made over and over again. 1st Mistake: No Plan The first being [...] The Best Age to Convert Your RRSP to a RRIF
What’s the best age to convert your RRSP to a RRIF? There are a lot of factors that go into making this decision, such as your age, your current and future income needs, and what other retirement accounts you have access to. As you can imagine, with so many variables in play, it took [...] Should You Be Buying GICs At These Rates?
Should you be buying GICs at these rates? We’re seeing rates that we haven’t seen in years, with one-year GICs paying as much as 5.41%. This is the number one question we are receiving from our clients. No joke, I’ve probably had this question 10 times over the last two weeks, so what are they [...] Investing After 60
Investing after 60 doesn't have to be the complex retirement puzzle the investment industry makes it out to be. How can you invest your retirement portfolio in a simple way so that you can spend your time enjoying life rather than worrying about every red-flashing headline on the news? The Bucketing Strategy Let’s imagine [...] 4 Ways to Calculate What You Can Spend in Retirement
Are you wondering how much you can spend in retirement? If so, you're not alone. In our latest video, we tackle this crucial question and provide 4 ways to calculate what you can spend in retirement. The First Step The first step in planning your retirement is understanding the Triangle Concept. This involves identifying [...] Retiring Soon? 3 Things to Consider
Drawing from countless conversations with retirees, if you're retiring soon, I think you should consider these three core components. Clarity on Your Retirement Goals and Expenses The foundation of a successful retirement lies in having a clear vision of your retirement goals and expenses. Whether you're a budget enthusiast or not, outlining your expected [...] Inflation in Retirement
In the realm of retirement planning, a hidden danger lurks, quietly eroding the foundation of your financial security: inflation. Today, we'll dig into the impact of inflation in retirement and explore how to build a plan that guards against its silent threat. Unmasking Inflation Inflation is the gradual increase in the price of goods [...] Managing Your Tax Brackets in Retirement
https://youtu.be/hZniNa0reho In the quest to effectively draw down your retirement portfolio, there's one critical mistake you can't afford to make—not managing your tax brackets in retirement. As we've explored in previous discussions, there's no universal approach to withdrawing from your retirement savings. Your unique circumstances demand a tailored strategy. Let's dig into the crucial concept [...] Does the CRA Owe You Money?
https://youtu.be/pNV3lcxo7NM In today's video, we're delving into an unusual topic - finding out if the Canada Revenue Agency (CRA) owes you money and exploring key details for retirement planning. Yes, you read that right; the CRA might owe you money! So, let's embark on this journey and see what we can uncover to enhance your [...] Tax-Efficient Retirement Withdrawal Strategies
Do you find yourself burdened by high taxes during retirement? Focusing on tax-efficient retirement withdrawal strategies could save you thousands, if not hundreds of thousands of dollars in taxes throughout your retirement. The Retirement Tax Challenge Retirement success hinges on three critical factors: your savings, the accounts you invest in, and the performance of [...] How Much Can You Spend In Retirement?
You're 60 and you and your spouse have saved up $1 Million for retirement. How much are you going to be able to spend monthly in retirement? This is the exact question we got asked last week. Today we are going to go over an example very similar to theirs and show how much they [...] Unlocking the TFSA Secret
Is there a wrong way to use your TFSA? We see it all the time. The result, missed growth and potential tax consequences. What's the fix? Lets dig into it. Which Account Should You Pull From First In Retirement?
Pulling income from the wrong retirement at the wrong time can lead to hefty tax bills. So what account should you pull from first? Let's dig into it! RRSP Withdrawals Done Wrong!
Many Canadians enter retirement without a serious plan to withdraw their RRSP's tax efficiently, causing them to pay more tax than they need to. Here are a couple of examples of RRSP Withdrawals Done Wrong! Withdraw From RRSP Tax-Free!
Don't miss out on this RRSP conversation opportunity. See how Crystal missed out on 3 years of tax-free RRSP withdrawals. Financially Helping Your Grandchildren
Retirement What Ifs
Don’t Fall For This Retirement Trap
Retirement Asset Map
Reduce Retirement Stress
Taking Your CPP Early To Invest
What happens to your RRSPs when you retire?
RRSP Withdrawals Due To Shortened Life Expectancy
Maximizing Your Government Benefits
Most Canadians are leaving money on the table when it comes to maximizing their government benefits. In the video above, we review a strategy that individuals and financial advisors often miss. Meet Mike Mike is 65 years old, and his goal in retirement was to be able to spend $50,000 per year, increasing with [...] Can You Retire On $1 Million
In our third video in this series, can you retire on $1 million, we look at Richard & Sharon Smith's financial situation. Let’s see what their financial picture looks like. Let’s start with Sharon. She is currently 60 years old and has the following, RRIF: $400,000 TFSA: $100,000 Richard is 60 years old [...] Drawdown Your RRSPs, 3 Reasons Why You Should
RRSPs are a popular retirement savings account, but it may be advisable to draw them down aggressively once retired. Here are 3 reasons to aggressively drawdown your RRSPs. RRSP Tax Bomb There are many people out there who hate RRSPs. I often hear stories like, “My parents had money in RRSPs, and when they [...] Using Your Children’s CGE for Tax-Free Withdrawals from Your Corporation
This week we’re going step by step into a strategy that allows you to withdraw cash from your corporation essentially tax-free by using your children’s capital gains exemption. All right, so here’s what you’ll need to pull this strategy off: Number 1 - a farm corporation. You know what scratch that – a successful [...] Bill C-208 Part 2: Using Your Capital Gains Exemption
In part 2, we'll be going over a strategy that you can now use due to Bill C – 208. Using your capital gains exemption This strategy allows you to use your capital gains exemption while you're alive while also withdrawing cash from a corporation tax preferred. Watch the video above for a farm [...] Dividends Don’t Add Value
Many investors and financial advisors are fond of dividends and base their entire investment strategy on companies that pay dividends. However, it's time to take a closer look at the reality of dividends and their impact on investment performance. The truth is, and I might be upsetting the dividend-loving crowd, but dividends do not add [...] Do You Need Life Insurance Once You Are Retired?
Do you need life insurance once you are retired? Life insurance is an important consideration for many people, but as you reach retirement age, the question of whether or not to continue coverage becomes even more complex. Let's discuss the pros and cons of having life insurance in retirement and whether it makes sense for [...] Bill C-208 Explained
Bill C-208 Bill C-208 was created to alleviate the financial disadvantage that typically arose for taxpayers who sold their business or family farm corporation to their children or grandchildren, as compared to selling to an arm’s length third party. This disadvantage was caused by certain tax rules. Specifically an anti-avoidance rule in section 84.1 of [...] Avoid This Retirement Mistake
Retirement is a time to kick back, relax, and enjoy the fruits of your labor, but it's also important to be careful with your finances. One mistake we often see is the lack of planning for major purchases, such as buying a new car. Now, we know what you're thinking - "But Marc, I've been [...] How to make retirement withdrawals in a bad market
When the stock market goes through a bad year, it becomes increasingly difficult to make withdrawals from your portfolio. So, what’s the best way to make retirement withdrawals during a bad market? We’re all familiar with the investing adage to buy low and sell high, but without proper planning, you might find yourself in a [...] Beware Of Buying Investments Before End Of The Year
It’s the beginning of December, and Bob has purchased a rental property from his brother. Imagine how unfair it would be if Bob had to pay tax on his brother’s rental income for the entire year. Fortunately for Bob, that’s not the case, but this can happen when you purchase an investment in a non-registered account. Today, we’ll look at the dangers [...] Can You Retire on $750,000?
In our second video in this series, can you retire on $750,000, we look at Mr. & Mrs. Wilson's financial situation. Let’s see what their financial picture looks like. Financial Picture Let's start with Mrs. Wilson. She is currently 68 years old and has the following, RRIF: $350,000 TFSA: $100,000 Mr. Wilson is 67 [...] Extra RRSP Withdrawal
As we approach the end of the year, there are a few tax planning strategies that you should consider before the year is out. Let's look at if it makes sense to make an extra RRSP withdrawal before the end of the year. Tax Planning Strategy #1: RRSP/RRIF Withdrawal One of the major drawbacks [...] Tax-Loss Selling
What is year-end tax-loss selling, and should you care? When stock markets go through a tough year, the opportunity to take advantage of tax-loss selling arises. So, what exactly is tax-loss selling? Let’s go through an example to find out. Tax-Loss Selling Judy bought $400,000 of ABC Bank shares in her non-registered account. Today her ABC Bank shares are [...] Triggering Investment Losses in a Corporation
If you’re going to trigger investment losses in your corporate account this year, make sure you double-check if you have a positive CDA balance first. Don't deny yourself tax-free money You’ll often hear about tax loss harvesting around this time of year. The process of triggering losses in your investment accounts to offset past [...] What Happens To Your CPP When You Pass Away?
What happens to your CPP when you pass away? Let’s assume that both you and your spouse are receiving CPP; what would happen if one of you were to pass away? How CPP is calculated Before we can get into that, we must first understand how your CPP pension is calculated. The amount you [...] Deferring Your OAS
Today we looking at deferring your Old Age Security Pension, whether or not it makes sense, and a major red flag you need to consider if you are going to defer. Eligibility For many people, the Old Age Security (OAS) pension will make up a portion of their retirement income. To be eligible for [...] Estate Freeze
The estate freeze solution is the preferred strategy for transitioning a business to your children due to its tax efficiency and the ability for you as a business owner to maintain control. How it works Let's say you own a business that’s worth $5,000,000. That $5,000,000 of value will be reflected in the value [...] Can You Retire On $500,000?
Can you retire on $500,000? This is the first video in a new series where we will look at whether you can retire on X amount of dollars. Check out our next video, Can you retire on $750,000? Today we're going to be using Mr. and Mrs. Baker as our example. Let’s see what their [...] Can You Deduct You Financial Advisory Fees?
Can you deduct your financial advisory fees? The short answer, It depends. Today, we’ll be going over the top 3 methods Canadian advisors use to charge their clients and whether or not those methods allow you to deduct their fees on your tax return. Method 1: Fee for service The first payment method we’ll be [...] A Reminder As To Why You Are Investing
Is it worth it? How confident are you feeling about your investment portfolio these days? Are you questioning if you’ve made a mistake investing, if it’s worth it, if it will ever bounce back? If these thoughts are crossing your mind, you’re not alone. But it's going to be okay – let’s get into [...] Best Questions To Ask A Financial Advisor
Whether you are looking to hire a financial advisor or already working with someone, there are a few key questions that you should get answered. Let's dig into these questions and review some of the answers that should raise red flags. Are you a fiduciary? If you asked a friend or family member whether [...] Should You Be Using More Than One Financial Advisor?
Instances of clients using multiple advisors rose after Bernie Madoff’s Ponzi scheme was revealed during the 2008 financial crisis. However, in good or bad times, multiple advisors can lead to higher fees and lost efficiencies. Ponzi Scheme Protection Nobody wants to be the victim of a Ponzi scheme, so using multiple advisors sounds appealing as [...] Invest Large Lump Sum of Money Tax-Efficiently By Using Your Children
Here is the scenario You’ve just inherited $1,000,000. You invest the million and it starts generating $40,000/year in dividends. $40,000 is great until you realize the tax man takes away $15,114 every year, leaving you with $24,886. What can you do? Well, you have these kids, your kids! And their current annual income is a big [...] Case Study: Simple Tweak Saves $50,000 in Taxes
Two Main Concerns Sarah was concerned about two things now that she was retired. The first being how to invest tax efficiently. The second concern was with the portfolio fluctuations that she had experienced and now that she was no longer contributing to her accounts she was worried about it in retirement. In this video, [...] 2 Things That Should Be In Your Corporation
Today let us look at the two things that business owners own personally and should actually be owned corporately. Personal Debt Number one is your debt. If you have any personal debt, mortgages, credit cards, car loans, consider trying to move those into your corporation because then you're able to write off the interest. [...] Is Now The Right Time To Buy GICs?
Is now the right time to be buying a GIC? Lets start with, what exactly is a GIC? A GIC is a term investment that pays you a guaranteed interest rate on the anniversary of your purchase. Generally speaking, the longer the term of your GIC, the higher the interest rate you will receive, and [...] Retirement Plan Leads to $900,000 in Savings
Here is a real-life example of how two tweaks to a couple's retirement plan, saved them over $900,000. For this video, we start by going over Donna and Steve's (names have changed for confidentiality reasons) background and going over a few assumptions that need to be made. Follow along as we find out what their [...] 4 Conflicts Faced by Financial Advisors
Video Transcript: 4 Conflicts Faced by Financial Advisors If you are working with a financial advisor, you need to be aware of a few conflicts of interest that can affect your bottom line. Conflicts of interest will arise when your financial goals or interest are not in line with your advisors. Most of these conflicts [...] What is the difference?
Different Advisors Investment Advisor versus Mutual Fund Representative versus Portfolio Manager, why does it have to be so confusing? In the world of financial advising, it’s the wild west when it comes to job titles. You’ll see things like President, Wealth Manager, Financial Advisor, Life Coach, and so many more. Hopefully, this will change one [...] Capital Gains Exemption for Business Owners
Cash & Your Capital Gains Exemption Today I want to talk about your corporation and how having too much cash inside of it can inadvertently affect your capital gains exemption if you're planning on selling. LCGE In 2022, if you sell shares of your small business in Canada, you have a $ 913,630-lifetime capital [...] Getting Ready for a Bear Market
Where are we today? When it comes to the markets, as of today May 10th, 2022, the market is down 15% from its high back on January 3rd of 2022. We are trending downwards so I want to talk to you about what a bear market is and how you can invest during bear markets. Book Value vs Market Value
Book Value vs Market Value If you look at your investment statements, you will see a book value and a market value. Here is a quick explanation of the difference between the two and why it is not the best metric to determine the performance of your overall investment portfolio. Are You On Track To Retire?
Video Transcript: Are you on track to retire? Today, we're going over how we determine whether clients are on track to retire. Let's jump into an example. First Thing to Determine Debbie is 57 and looking to retire in five years. The first thing that she needs to determine is how much her lifestyle [...] Using a Margin Account
Video Transcript Today I’m going to talk about a Margin Account and how it recently helped one of my clients who was in a tough spot. Before we get started, this strategy is not suitable for everyone, please talk to a professional before implementing. Last week, a client needed $200,000 immediately because he was buying [...] First Home Savings Account
Video Transcript: First Home Savings Account Today we’re going over the brand new Tax-Free First Home Savings Account (FHSA), which was recently introduced in the 2022 Canadian Budget. One of the major initiatives of this year’s budget was to make housing more affordable. To do this, they are doubling the first-time home buyers’ credit and [...] 3 Reasons Retirement Plans Fail
Video Transcript Today I want to talk about 3 reasons retirement plans fail. First Reason The first reason your retirement plan can fail is oversimplification. I was speaking with a gentleman a few weeks ago, who was wondering whether he was on track to retire. In his eyes there was no problem, he had [...] 3 Mistakes to Avoid in Retirement
Check out the video above to find out the three mistakes you should avoid in retirement. We also started a new YouTube page recently and would appreciate it if you could subscribe to our channel. You can do so through the link below. Subscribe to our new Youtube channel Video Transcript Mistake #1: Underspending [...] AgriInvest
Today I want to talk to you about AgriInvest and why you should be withdrawing it. Leaving it in your AgriInvest Account When you put money in AgriInvest, let us say $5,000 in this scenario. The government will match your $5,000, for a total of $10,000 in your account. It is not always this [...] Make $146,000 Tax-Free in Retirement
Today we're looking at a strategy that can earn you $146,000 tax-free in retirement. Reduce your income to zero In our scenario, we have a 65-year-old, who has a spouse, and both are receiving O.A.S. You would be receiving $642 per month. If your income is $0 for the year, disregarding the O.A.S, you [...] Access Money From Your LIRA
What is a Manitoba LIRA? A Locked-in Retirement Account (LIRA) is a type of registered pension plan. If you worked for a company that had a pension plan and subsequently left that company for any number of reasons, you were likely to transfer your pension into a LIRA. How do I access the funds in my [...] Don’t Run Out of Money
Don’t run out of money In working with clients who are approaching retirement or early into it, there are two things they want to avoid. Large fluctuations in the value of their portfolio It’s time to be enjoying life, not worrying about a potential downturn in the market Outliving their money The thought of this [...] MTAR Accounts for Business Owners
Are you taking advantage of your corporations to their full capacity? Here is one strategy that may be suitable for your situation. We will use John, a 45-year-old non-smoker for a quick case study. John has $100,000 to invest in his corporation. That investment is earning 6% of interest income and we will assume John [...] Donation Strategies for Farmers
Here are some advanced tax planning strategies when it comes to donations. We discuss how you can donate your farm corporate shares and investments to save taxes and support your favourite causes. Capital Dividend Account
What is it? A capital dividend account is a notional account that increases or decreases when you create capital gains or losses. You aren't going to see a capital dividend account on any of your bank records or investment records. Before watching this video, be sure to watch my previous video for a more in-depth [...] How To Help Your Employees Retire
How To Help Your Employees Retire The most tax-efficient way to help your employees to retire is through a DPSP account. Find out how using a DPSP account benefits both the employer and the employee, compared to giving out a bonus. Do You Own Mutual Funds?
Do you own mutual funds? If so, there's likely a 98% chance your portfolio has had a below-average performance. When to Incorporate
When does it make sense to incorporate? Farmers, of all ages, are asking this question more and more as farm revenue steadily increases with rising commodity prices. But when is the right time? In this video, Colin compares the differences between being incorporating versus claiming farm revenue as personal income, from a cash flow and [...] Tax-Free RRSP Withdrawals
Are Tax-Free RRSP Withdrawals possible? Let me tell you how we are able to do this. Last week, I was sitting down with a gentleman we'll call John. Like many Canadians, John had buyers remorse regarding his RRSPs. When he went to make a withdrawal, he realized that withdrawal would be 100% taxable! "Had I [...] Why Inflation is Killing Your Investment Returns
Inflation is continuing to be a hot topic these days, hitting 4.1% in Canada. In this video, Colin goes through an example showing how inflation is reducing your buying power, and what can you do with your portfolio to counteract inflation. To read more on How to Tackle Inflation here. And be sure to check [...] Use the Bank’s Money
In this video, I'll show you how you can grow your net worth by using the equity already built into your home. Is Being Low Risk, High Risk?
Today we are talking low-risk investments. The assumption is that low-risk investments are the safest option. When in fact, you are losing your purchasing power thanks to low-interest rates and rising inflation. Cancel Your Loan Insurance?
In this weeks video I go over creditor insurance and how it can be replaced with more cost-effective personal insurance. [dt_fancy_image image_id="5919" width="700" css=".vc_custom_1621353575577{padding-top: 20px !important;padding-bottom: 20px !important;}"] Invest Tax-Free: MTAR Account
In Canada, there are three ways you can grow your savings tax-free. Tax-Free Savings Account Principle Residence MTAR Accounts Most Canadians aren't aware of MTAR accounts and the huge benefits they provide. This is especially true if you plan on leaving funds to the next generation. Bitcoin
Our quick thoughts on whether or not you should be adding Bitcoin to your investment portfolio. Here are a couple of links if you are looking for more information on Bitcoin and Cryptocurrencies What are Cryptocurrencies Bitcoin Chart Farm Corporations & RRSPs
In this week's video we review at what income levels it makes sense to make RRSP contributions if you're incorporated. CLICK HERE for my previous RRSP video: Farmers & RRSPs Starting Your Farm Transition
Our video this week is an interview with "Canada's Farm Whisperer" Elaine Froese. Get in touch with Elaine by visiting these links: https://elainefroese.com/ https://elainefroese.com/virtual-kitchen-table/ Background Image by Anna Workman, Life in Bloom Photography. Farmers and RRSPs
In this week's video, we go over how to properly use RRSPs as a farmer. RRSP Tax Bomb
One of the biggest issues with an RRSP is the tax bomb it can create. We first go over the Canadian tax system to understand why this tax bomb can happen and then a strategy on how to avoid it! How can you avoid the tax bomb? Click here for to see how you can [...] A Capital Gains Exemption Quirk
If you're not a farmer, but you own farmland that qualifies for the capital gain exemption, make sure you don't pass away before using the exemption! What is a reverse mortgage
What is a reverse mortgage Where were you when you first heard the term reverse mortgage? If you’re like me, it was through a cheezy commercial on day time TV. Because of this, I was always skeptical of these products, and I wasn’t the only one. Whenever I would bring it up with someone, I [...] The Easiest Way to Reduce Your Tax Bill
The Easiest Way to Reduce Your Tax Bill Click above to view video! Thank you for watching our video. Gamestop: Explained
See my latest video on the craze that is Gamestop's stock. I try to keep it simple so you can understand what's going on and why this is so interesting to watch. Gifting the Farmland
Gifting the Farmland In this week’s video we review the different ways you can gift farmland to your children along with the pros and cons of both methods. Should I Be Buying RRSPs?
Should I Be Buying RRSPs? The answer to that question is going to depend on a few different factors. This latest video can help you understand whether or not investing in RRSPs is the right decision for you. Beware of AMT
Beware of AMT Here is a quick video on what alternative minimum tax is and how it works. Enjoy! Does Your Spouse Qualify?
Does your spouse qualify? This week we interviewed Julien Grenier, accountant, and partner at Talbot & Associates. We discuss what CRA looks at when determining whether your spouse can or can’t use their capital gains exemption on the sale of your farmland. Julien can be reached at julien.grenier@talbotcpa.ca or 204-269-7460 Too Much Cash in Your Corp!
Too much cash in your corp See my latest video going over a case study where one farmer thought his farm corporation qualified for the lifetime capital gains exemption but didn’t due to having too much cash. Let’s Multiply Your Capital Gains Exemption
Let's Multiply Your Capital Gains Exemption As a farmer, you have a lifetime exemption of one million dollar on the sale of farmland. If you exceed that amount, you could be looking at a large tax bill. Here is an option to increase your capital gains exemption. In this video, we will show two things. First, when no plan is in place and the ensuing tax bill. Second, how your tax bill may be substantially decreased with the aid of using this approach. [...] Trusts – How to keep your farmland in the family and save taxes
This quick video on trusts explains how to keep farmland within the family while being as tax-efficient as possible! Managing Your Portfolio in Retirement
Managing Your Portfolio in Retirement The financial industry tends to make things more complex than they need to be. As a result, topics like this usually go in one ear and out the other. My aim with this webinar is to simplify this topic by providing an explanations (in simple English). This webinar will cover topics to be aware of as you approach or are [...] Retirement: What You Need to Know
You’ve worked hard for decades, and now that you are approaching or entering retirement, you could find yourself exposed to significant taxes without the proper strategies in place. Keep more of what you’ve built and enjoy the retirement you deserve. This complimentary video will cover the following topics: Am I on track [...] Private Health Care Spending Accounts: How Can They Help Your Business?
An Educational Webinar presented by Colin Sabourin CFP, CIM, CAFA, and Pierre Normandeau CPA, CGA, IMPORTANT: This webinar is for business owners who are incorporated. In the presentation, Colin and Pierre go step by step through: ➡️How Private Health Care Spending Accounts work ➡️What qualifies as a medical expense ➡️Tax benefits for the corporation ➡️What [...] Getting The Best Of Both Worlds From Your Pension
Wouldn't it be great to have the benefits of commuting your pension as well as the benefits of a monthly pension? In this brief video, I go over how you can have the best of both worlds. As always, if you'd like to discuss your personal situation and explore your financial options, feel free to [...] How Commuting Your Pension Allows You To Manipulate Your Income
Deciding between commuting your pension or opting for the monthly income stream is a big retirement decision that contains several complexities. In this brief 3-minute video I provide clarity on the benefits of taking the commuted value compared to the monthly income stream. If you'd like to discuss your personal situation and explore your financial [...] Understanding the Proposed CSSB Pension Changes
*It was expected that Bill 43 would receive Royal Assent (Approval) when the Legislature reconvened in the fall. However, since the Throne Speech was moved up to October 7th, the bills that were being discussed during the spring session have been put on pause. Because of this, the status and timing of Bill 43 is [...] How to properly manage a retirement portfolio
Are you tired of turning on the nightly news and worrying about how the day's events are affecting your retirement portfolio? Are you worried about the day-to-day fluctuations of the stock market? This week we take a look at how to properly manage your retirement portfolio with the Bucketing Strategy so that you can [...] How to sell your business tax-free
You started a business from scratch that’s now worth $1.7 million. If you sold today, you’d be able to avoid paying capital gain taxes as both you and your spouse have your $850,000 capital gains exemption room. However, you’re not ready to sell and you’re wondering, “How can I shelter the future gains my business […]
Why your rate of return isn’t as important as you think
Rate of return vs timing of return Many people believe that the rate of return they earn in their investment portfolio is the number one factor in determining the success of their retirement plan. Although essential, today I want to review why it’s even more important not to lose money, especially as you are entering [...] How to convert your health expenses into corporate expenses
Today, I’ll be showing you how to tax-efficiently convert your family’s healthcare costs, into a corporate expense with the use of Private Health Service Plans. The scenario Here’s our scenario. You go to the dentist for your annual checkup, and lo and behold they’ve got bad news for you. You’re going to need some dental [...] What happens when you withdraw your pension?
Today we’ll be going over what happens when choosing the lump sum payout option from your defined benefit pension plan. As you’re likely aware, a defined benefit pension plan will pay you a monthly income for life, so why choose the lump sum payout option instead? A few common reasons include: Pension Sustainability: [...] How to supercharge your RRSP
Don Jacobs is three years away from retirement and is looking for a way to supercharge his RRSP. With the 2018 RRSP deadline just around the corner, we help Don maximize his contributions so he can achieve his retirement goal in the next three years. Now that Don's contribution has been [...] When should you apply for your CPP?
When should you be applying for your CPP? This week we take a look at the long-term financial impacts of your decision and what variables you should take into consideration. Looking for more advice? Take a look at our 2 part CPP series which includes An argument for taking CPP later and An argument for taking CPP [...] Why your RRSP should grow as little as possible
Is your portfolio properly structured to minimize tax? Can I keep more money in my pocket without increasing the risk in my portfolio? Find out why your RRSP should grow as little as possible in this week's video. Enjoy videos? Check out the Video Category for more great strategies. Am I on Track to Retire? – Video
Am I on track to retire? This is a very common question I receive, so today I wanted to give you a simple way that you can get an answer to this question without pulling your hair out. Bob is 55 years old and approaching retirement. He plans on spending his winters in Phoenix and […]
