3 Proven Ways to Increase Retirement Spending Without OAS Clawbacks
Imagine wanting to spend more in retirement—whether it’s traveling, renovating your home, or enjoying life—only to see your Old Age Security (OAS) benefits shrink with every extra dollar you spend. Many Canadian retirees face this dilemma, struggling to balance their lifestyle desires with the risk of triggering OAS clawbacks. The good news? By strategically tapping into […]
How to Withdraw RRSP Funds Tax-Free: A Strategic Approach
Many Canadian retirees face a significant tax burden when withdrawing from their Registered Retirement Savings Plans (RRSPs). Without proper planning, these withdrawals can substantially reduce your hard-earned savings. Here is a strategic approach to withdraw RRSP funds tax-free by leveraging deductible interest. In this blog post, we discuss how to implement this strategy and understand […]
How to Stress Test Your Retirement Plan for Market Downturns
For many Canadians nearing retirement, the thought of a market downturn as they retire can be paralyzing. The fear of a stock market collapse can make anyone question if their plan will survive. You’re not alone—this fear is common among those who’ve worked hard to build a nest egg, and it’s understandable to want reassurance […]
Worried About Retirement
Retirement should be a time of celebration and freedom, but for Curtis and Rachel, it brought unexpected worries. Despite building an impressive $3 million portfolio, they were uneasy—not because they feared running out of money, but because they felt their financial life wasn’t as organized or optimized as it could be. For 25 years, their […]
You Need Less Than You Think to Retire
When it comes to retirement, many people envision an enormous number—a daunting financial milestone that feels out of reach. Maybe it’s $1 million. Maybe it’s $2 million. Financial media and online calculators often reinforce these intimidating figures, making retirement seem like an unattainable dream. But here’s the truth: in many cases, you need far less […]
Great Returns? Time to Rethink Your RRSP Meltdown!
2024 has been a stellar year for markets, with portfolios soaring to unexpected heights. But before you celebrate those gains, consider this: could your growing RRSP be quietly building a tax time bomb for your future? If you’ve had a strong market year, it might be time to rethink your RRSP meltdown strategy. Let’s explore […]
Living Off Dividends: A Retirement Strategy You Need to Rethink
Living off your portfolio’s dividends in retirement seems like a pretty straightforward strategy, you never have to sell your investment, and therefore, you can never run out of money. But it’s not quite that simple. Before diving in, let me say I know this topic will ruffle some feathers because dividends are loved by many […]
Avoid This Costly Retirement Withdrawal Strategy
When planning for retirement, avoid this costly retirement withdrawal strategy. Many people turn to the well-known 4% Rule for guidance. However, relying too heavily on this strategy can put your retirement savings at serious risk. In this post, we’ll explore the potential pitfalls of the 4% Rule and outline strategies to keep your retirement plan […]
Retirement Plan: Breaking Down A Subscriber’s Plan
Breaking Down A Subscriber’s Retirement Plan: John and Tracy’s Story Today we are breaking down a subscriber’s retirement plan. Meet John and Tracy, a couple nearing retirement, recently completed a financial plan with their advisor. However, after following our channel and absorbing our tax-focused strategies, they sensed gaps in their plan and reached out for […]
Don’t Let These Pilots Crash Land Your Retirement
Imagine sitting in the cockpit of a high-speed jet. The dashboard is a maze of switches and dials—each one critical to keeping you on course. In many ways, retirement planning is no different. Each decision is a lever you pull to stay financially secure, from optimizing your RRSP to timing CPP and tax strategies. However, […]
RRSP Meltdown or RRIF Minimum: Best Withdrawal Strategy?
Which is better? The RRSP Meltdown or RRIF Minimum withdrawals? Let’s go over the pros and cons of each strategy because choosing the wrong option for your situation can cause you to pay hundreds of thousands more in taxes. Let’s meet Kathy; she is 63 years old and retired. She currently receives $1,000 per month […]
Retirement: Ask Yourself This Before You Retire
Retirement is often seen as the finish line, but how you approach this milestone can make all the difference between a retirement full of zest or one that is spent wondering now what? You must ask yourself whether you are retiring to or from something. I would suggest you do this before you retire.
Investment Performance vs Tax Planning
Which do you think is more important? Investment Performance or Tax Planning? When it comes to retirement, you have complete control over your tax planning, whereas investment performance tends to have ups and downs. Let’s compare the two and see which has a more significant impact.
Understanding Taxes on Your Retirement Income
Retirement can bring a new perspective on how much tax you’ll be paying on your income. Understanding taxes on your retirement income is key to effective financial planning. In this video, we break down how each source of income—from RRSPs and RRIFs to TFSAs, dividends, and capital gains—will impact your tax situation, helping you make […]
The 3 Bucket Strategy
The three-bucket strategy is one of my favorite approaches to building portfolios for retirees because it gives them the peace of mind that everything is going to be okay. Let’s touch on what it is and how we can apply it to a real-life withdrawal plan.
All Your Money In RRSPs?
This video is tailored for those with most of their retirement assets in pre-tax accounts, such as RRSPs, RRIFs, LIRAs, and LIFs. We’ll explore how to use these accounts tax-efficiently in retirement because not everyone retires with maxed-out TFSAs and well-funded non-registered accounts.
How Dividends Affect Your RRSP Meltdown
Tax Planning and Portfolio Management may seem like two completely different things, but when they work together, they create magic. Too often, I see investment plans that ignore tax planning or tax plans that overlook investments. So, if we can get both of these components on the same page, we’ll be laughing.
The Cost Of Delaying Your RRSP Meltdown
We all procrastinate in one form or another, and sometimes the consequences are minor. But sometimes, procrastination can cost you thousands of dollars! This is especially true if you’ve been dragging your feet on a withdrawal strategy for your portfolio.
When You Shouldn’t Meltdown Your RRSPs
I’m a big proponent of melting down your RRSPs in retirement. But sometimes, it just doesn’t make sense to do so.
3 Reasons to Aggressively Meltdown Your RRSP
RRSPs are a great tool to save for retirement, but they can become a huge tax nightmare if misused during the withdrawal phase of life. If you do nothing, a large portion of your RRSP will more than likely to donated to the CRA. Here are 3 reasons why you should meltdown your RRSP.
How The New Capital Gains Tax Affects Cottage Owners
Under the old rules, 50% of the capital gain would need to be added to your income. Under the new rules, you’ll have to include 66% of the gain to your return on any growth above $250k. So, how do you get around this? Let’s discuss capital gains reserve.
How To Optimize Your RRSP Withdrawals
How should you optimize your RRSP withdrawals? In this case, making registered withdrawals and clawing back OAS was the most efficient way to limit the overall taxes. However, creating this plan is only one part. When the time comes to implement that plan, things can change.
4 Ways to Keep Your Kids from Squandering Their Inheritance
According to a recent study by UBS, 70% of high-net-worth individuals with retirement portfolios of over $1 million are concerned with their heirs using their inheritance wisely. Let’s look at four things you can do to put your kids in the best position to succeed.
Is Your RRSP Really Yours?
Whatever is in your RRSP at death gets added to your final tax return. This could leave you paying tax at a rate of around 50%. If you are married or have a common law partner, your RRSP can roll over to theirs without any tax, but they’ll face the same issue when they die. […]
Avoid Withdrawing Funds When Your Investments Are Down
A lot changes when moving from the accumulation stage to decumulation. One of the most overlooked changes is how your portfolio is structured. This video illustrates the importance of WHEN a return occurs and why you do not want to withdraw money to fund your retirement when your portfolio is down.
Retirement Withdrawal Strategies for Singles
From a retirement and tax perspective, when you are single, a lot changes compared to couples, especially when it comes to your retirement withdrawal strategy. This video covers two decisions that will need to be made and covers a withdrawal strategy better suited for singles.
Time is your most valuable resource
One spouse is ready for retirement, the other…not so much. Does this sound familiar? This was the situation Becca and Jim found themselves in. They had saved more than enough to retire but had deeper concerns that were taken care of through a few in-depth conversations. All this is to say, don’t over-save for retirement. […]
The Dark Side of a Tax-Free Retirement
No one likes paying more taxes than necessary. However, you need to be careful in your quest to minimize your tax bill. In this video, we examine two scenarios: one where you withdraw from your TFSA first and the second where you withdraw from your RRSP. It’s important not to lose sight of the long-term […]
2024 Canadian Budget: How does it affect your retirement?
The 2024 Federal Budget was released on April 16th, with a few significant changes. From a retirement planning perspective, the change to the capital gains inclusion rate from 50% to 66.67% for individuals on gains over $250,000 is a major change. This won’t affect most Canadians daily but could affect your estate planning. Businesses will […]
Retiring with a Pension
How does retiring with a pension affect your retirement plans? There are numerous advantages from a tax perspective, 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 charitable donations. 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 from […]
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 […]
Why Most Retirees Underspend In Retirement
Why Most Retirees Underspend In Retirement? It’s a common issue I see again and again. Turning the switch from accumulating to decumulating in retirement can be hard. Watching your portfolio go down in value is gut-wrenching for some. The fear of running out of money, kids, and grandkids is another common reason why retirees […]
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 discuss Heather’s situation.
How Often Should You Make RRSP Withdrawals?
How do you efficiently take money out of your RRSP’s tax 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 Large RRSP Withdrawals
You’ve done a good job saving and have a sizeable nest egg set aside in your RRSPs for retirement, but how do you make tax-efficient RRSP withdrawals? 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 a large […]
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 is the best age to convert your RRSP to a RRIF? Determining the ideal age to convert your Registered Retirement Savings Plan (RRSP) into a Registered Retirement Income Fund (RRIF) is an important decision that can have long-term financial impacts. While every situation is unique, there are a few strategic ages to consider, each […]
Should You Be Buying GICs At These Rates?
[vc_row css=”.vc_custom_1612380408194{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column][vc_video link=”https://youtu.be/rLE1W8oh4X4″ css=”.vc_custom_1704404291299{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text css=”.vc_custom_1704405016772{padding-top: 20px !important;padding-bottom: 20px !important;}”]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, […]
Investing After 60
[vc_row css=”.vc_custom_1612380408194{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column][vc_video link=”https://youtu.be/az4puajWLAE” css=”.vc_custom_1704403539991{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text css=”.vc_custom_1704404116083{padding-top: 20px !important;padding-bottom: 20px !important;}”]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 […]
4 Ways to Calculate What You Can Spend in Retirement
[vc_row css=”.vc_custom_1612380408194{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column][vc_video link=”https://youtu.be/lL9AMYslC74″ css=”.vc_custom_1700154773577{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text css=”.vc_custom_1700155259279{padding-top: 20px !important;padding-bottom: 20px !important;}”]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 […]
Retiring Soon? 3 Things to Consider
[vc_row css=”.vc_custom_1612380408194{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column][vc_video link=”https://youtu.be/YZo49qVgnAQ” css=”.vc_custom_1699034094088{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text css=”.vc_custom_1699036365552{padding-top: 20px !important;padding-bottom: 20px !important;}”]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 […]
Inflation in Retirement
[vc_row css=”.vc_custom_1612380408194{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column][vc_video link=”https://youtu.be/J969UP1–fo” css=”.vc_custom_1699033131493{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text css=”.vc_custom_1699033963122{padding-top: 20px !important;padding-bottom: 20px !important;}”]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 […]
Managing Your Tax Brackets in Retirement
[vc_row css=”.vc_custom_1612380408194{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column][vc_video link=”https://youtu.be/hZniNa0reho” css=”.vc_custom_1699031587886{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text css=”.vc_custom_1699032881455{padding-top: 20px !important;padding-bottom: 20px !important;}”]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 […]
Does the CRA Owe You Money?
[vc_row css=”.vc_custom_1612380408194{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column][vc_video link=”https://youtu.be/pNV3lcxo7NM” css=”.vc_custom_1699030613282{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text css=”.vc_custom_1699030972901{padding-top: 20px !important;padding-bottom: 20px !important;}”]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! […]
Tax-Efficient Retirement Withdrawal Strategies
[vc_row css=”.vc_custom_1612380408194{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column][vc_video link=”https://youtu.be/CZ9luOOhz1c” css=”.vc_custom_1699022153690{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text css=”.vc_custom_1699024203181{padding-top: 20px !important;padding-bottom: 20px !important;}”]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 […]
How Much Can You Spend In Retirement?
[vc_row css=”.vc_custom_1612380408194{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column][vc_video link=”https://youtu.be/xy9fm8LabQU” css=”.vc_custom_1695257135755{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text css=”.vc_custom_1695257153050{padding-top: 20px !important;padding-bottom: 20px !important;}”]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 […]
Unlocking the TFSA Secret
[vc_row css=”.vc_custom_1612380408194{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column][vc_video link=”https://youtu.be/H0_a4IWwZGk” css=”.vc_custom_1695256838230{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text css=”.vc_custom_1695256848378{padding-top: 20px !important;padding-bottom: 20px !important;}”]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.[/vc_column_text][/vc_column][/vc_row]
Which Account Should You Pull From First In Retirement?
[vc_row css=”.vc_custom_1612380408194{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column][vc_video link=”https://youtu.be/ag2dEb6WGA0″ css=”.vc_custom_1695256591435{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text css=”.vc_custom_1695256602924{padding-top: 20px !important;padding-bottom: 20px !important;}”]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![/vc_column_text][/vc_column][/vc_row]
RRSP Withdrawals Done Wrong!
[vc_row css=”.vc_custom_1612380408194{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column][vc_video link=”https://youtu.be/xdazbDGgZlA” css=”.vc_custom_1695256372526{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text css=”.vc_custom_1695256382030{padding-top: 20px !important;padding-bottom: 20px !important;}”]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![/vc_column_text][/vc_column][/vc_row]
Withdraw From RRSP Tax-Free!
[vc_row css=”.vc_custom_1612380408194{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column][vc_video link=”https://youtu.be/cq382duYkg4″ css=”.vc_custom_1695255725576{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text css=”.vc_custom_1695255865879{padding-top: 20px !important;padding-bottom: 20px !important;}”]Don’t miss out on this RRSP conversation opportunity. See how Crystal missed out on 3 years of tax-free RRSP withdrawals.[/vc_column_text][/vc_column][/vc_row]
Financially Helping Your Grandchildren
[vc_row css=”.vc_custom_1612380408194{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column][vc_video link=”https://youtu.be/-wNLkRw_3o4″ css=”.vc_custom_1690217493745{padding-top: 20px !important;padding-bottom: 20px !important;}”][/vc_column][/vc_row]
Retirement What Ifs
[vc_row css=”.vc_custom_1612380408194{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column][vc_video link=”https://youtu.be/SZErI0unZbw” css=”.vc_custom_1690217158884{padding-top: 20px !important;padding-bottom: 20px !important;}”][/vc_column][/vc_row]
Don’t Fall For This Retirement Trap
[vc_row css=”.vc_custom_1612380408194{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column][vc_video link=”https://youtu.be/fRDW5cpijCQ” css=”.vc_custom_1690217106020{padding-top: 20px !important;padding-bottom: 20px !important;}”][/vc_column][/vc_row]
Retirement Asset Map
[vc_row css=”.vc_custom_1612380408194{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column][vc_video link=”https://youtu.be/PqqI3dDac68″ css=”.vc_custom_1690216250631{padding-top: 20px !important;padding-bottom: 20px !important;}”][/vc_column][/vc_row]
Reduce Retirement Stress
[vc_row css=”.vc_custom_1612380408194{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column][vc_video link=”https://youtu.be/6KWuayRuMRw” css=”.vc_custom_1689871994611{padding-top: 20px !important;padding-bottom: 20px !important;}”][/vc_column][/vc_row]
Taking Your CPP Early To Invest
[vc_row css=”.vc_custom_1612380408194{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column][vc_video link=”https://youtu.be/ubaxTNXfc70″ css=”.vc_custom_1689869681180{padding-top: 20px !important;padding-bottom: 20px !important;}”][/vc_column][/vc_row]
What happens to your RRSPs when you retire?
[vc_row css=”.vc_custom_1612380408194{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column][vc_video link=”https://youtu.be/kMkonk7WhnI” css=”.vc_custom_1689869526639{padding-top: 20px !important;padding-bottom: 20px !important;}”][/vc_column][/vc_row]
RRSP Withdrawals Due To Shortened Life Expectancy
[vc_row][vc_column][vc_video link=”https://youtu.be/-zDiSZxw-hc” css=”.vc_custom_1689869004749{padding-top: 20px !important;padding-bottom: 20px !important;}”][/vc_column][/vc_row][vc_row][vc_column][/vc_column][/vc_row]
Maximizing Your Government Benefits
[vc_row][vc_column][vc_video link=”https://youtu.be/gInDkXCZ8f0″ css=”.vc_custom_1682537628930{padding-top: 20px !important;padding-bottom: 20px !important;}”][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]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 […]
Can You Retire On $1 Million
[vc_row][vc_column][vc_video link=”https://youtu.be/aEI85eQWOzY” css=”.vc_custom_1680022632585{padding-top: 20px !important;padding-bottom: 20px !important;}”][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]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 […]
Drawdown Your RRSPs, 3 Reasons Why You Should
[vc_row][vc_column][vc_video link=”https://youtu.be/NHxPmnG3-dA” css=”.vc_custom_1679067241140{padding-top: 20px !important;padding-bottom: 20px !important;}”][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]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 […]
Using Your Children’s CGE for Tax-Free Withdrawals from Your Corporation
[vc_row][vc_column][vc_video link=”https://youtu.be/tCzHqDM-diY” css=”.vc_custom_1678475303240{padding-top: 20px !important;padding-bottom: 20px !important;}”][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]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 […]
Bill C-208 Part 2: Using Your Capital Gains Exemption
[vc_row][vc_column][vc_video link=”https://youtu.be/F5kxlIvHQH8″ css=”.vc_custom_1677122184221{padding-top: 20px !important;padding-bottom: 20px !important;}”][/vc_column][/vc_row][vc_row][vc_column][vc_column_text] 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. […]
Dividends Don’t Add Value
[vc_row][vc_column][vc_video link=”https://youtu.be/HKo6FKD4qz0″ css=”.vc_custom_1677120607021{padding-top: 20px !important;padding-bottom: 20px !important;}”][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]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 […]
Do You Need Life Insurance Once You Are Retired?
[vc_row][vc_column][vc_video link=”https://youtu.be/cc9qZaJgMPQ” css=”.vc_custom_1675821548137{padding-top: 20px !important;padding-bottom: 20px !important;}”][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]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 […]
Bill C-208 Explained
[vc_row][vc_column][vc_video link=”https://youtu.be/njhgC7_Tpac” css=”.vc_custom_1675188204034{padding-top: 20px !important;padding-bottom: 20px !important;}”][/vc_column][/vc_row][vc_row][vc_column][vc_column_text] 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 […]
Avoid This Retirement Mistake
[vc_row][vc_column][vc_video link=”https://youtu.be/K75ckiivCK0″ css=”.vc_custom_1675820724100{padding-top: 20px !important;padding-bottom: 20px !important;}”][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]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 […]
How to make retirement withdrawals in a bad market
[vc_row][vc_column][vc_video link=”https://youtu.be/uj4W_H8q118″ css=”.vc_custom_1673225605045{padding-top: 20px !important;padding-bottom: 20px !important;}”][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]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, […]
Beware Of Buying Investments Before End Of The Year
[vc_row][vc_column][vc_video link=”https://youtu.be/NAx9dCN8dtk” css=”.vc_custom_1673223505786{padding-top: 20px !important;padding-bottom: 20px !important;}”][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]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. […]
Can You Retire on $750,000?
[vc_row][vc_column][vc_video link=”https://youtu.be/FCugi2kEmrc” css=”.vc_custom_1673221771632{padding-top: 20px !important;padding-bottom: 20px !important;}”][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]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 […]
Extra RRSP Withdrawal
[vc_row][vc_column][vc_video link=”https://youtu.be/gJWERBrGmAQ” css=”.vc_custom_1673040534150{padding-top: 20px !important;padding-bottom: 20px !important;}”][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]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 […]
Tax-Loss Selling
[vc_row][vc_column][vc_video link=”https://youtu.be/4VQ7JlpHdDg” css=”.vc_custom_1673039432816{padding-top: 20px !important;padding-bottom: 20px !important;}”][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]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 […]
Triggering Investment Losses in a Corporation
[vc_row][vc_column][vc_video link=”https://youtu.be/rA4n5dTKQPU” css=”.vc_custom_1673036194978{padding-top: 20px !important;padding-bottom: 20px !important;}”][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]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 […]
What Happens To Your CPP When You Pass Away?
[vc_row][vc_column][vc_video link=”https://youtu.be/u2C_F79nlS4″ css=”.vc_custom_1672961512503{padding-top: 20px !important;padding-bottom: 20px !important;}”][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]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 […]
Deferring Your OAS
[vc_row][vc_column][vc_video link=”https://youtu.be/TQrIlisCLsA”][/vc_column][/vc_row][vc_row][vc_column][vc_column_text css=”.vc_custom_1672760792715{padding-top: 20px !important;padding-bottom: 20px !important;}”]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 […]
Estate Freeze
[vc_row][vc_column][vc_video link=”https://youtu.be/DMUoYrrfIwc” css=”.vc_custom_1672439918746{padding-top: 20px !important;padding-bottom: 20px !important;}”][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]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 […]
Can You Retire On $500,000?
[vc_row][vc_column][vc_video link=”https://youtu.be/XWTUbbWIjRE” css=”.vc_custom_1672428534810{padding-top: 20px !important;padding-bottom: 20px !important;}”][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]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 […]
Can You Deduct You Financial Advisory Fees?
[vc_row css=”.vc_custom_1612380408194{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column][vc_video link=”https://youtu.be/L6qNwsjmRvc” css=”.vc_custom_1666203207254{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text css=”.vc_custom_1666207494765{padding-top: 20px !important;padding-bottom: 20px !important;}”]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 […]
Best Questions To Ask A Financial Advisor
[vc_row css=”.vc_custom_1612380408194{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column][vc_video link=”https://youtu.be/mYYBXuUOFFY” css=”.vc_custom_1663949989742{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text css=”.vc_custom_1663950614367{padding-top: 20px !important;padding-bottom: 20px !important;}”]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 […]
Should You Be Using More Than One Financial Advisor?
[vc_row css=”.vc_custom_1612380408194{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column][vc_video link=”https://youtu.be/c0Mw80i-W_g” css=”.vc_custom_1662487692239{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text css=”.vc_custom_1662487832459{padding-top: 20px !important;padding-bottom: 20px !important;}”]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 […]
Invest Large Lump Sum of Money Tax-Efficiently By Using Your Children
[vc_row][vc_column][vc_video link=”https://youtu.be/sOt9ZbFEuSM” align=”center” css=”.vc_custom_1662486312178{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text css=”.vc_custom_1662486400157{padding-top: 20px !important;padding-bottom: 20px !important;}”] 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 […]
Case Study: Simple Tweak Saves $50,000 in Taxes
[vc_row css=”.vc_custom_1612380408194{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column][vc_video link=”https://youtu.be/Y_vUPZlcJvk” css=”.vc_custom_1661864039191{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text css=”.vc_custom_1661864354903{padding-top: 20px !important;padding-bottom: 20px !important;}”] 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 […]
2 Things That Should Be In Your Corporation
[vc_row][vc_column][vc_video link=”https://youtu.be/0aM0eYgwWqU” align=”center” css=”.vc_custom_1659539357811{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text css=”.vc_custom_1657731207214{padding-top: 20px !important;padding-bottom: 20px !important;}”]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 […]
Is Now The Right Time To Buy GICs?
[vc_row css=”.vc_custom_1612380408194{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column][vc_video link=”https://youtu.be/7OfiJJNvXE8″ css=”.vc_custom_1659448945344{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text css=”.vc_custom_1659449580385{padding-top: 20px !important;padding-bottom: 20px !important;}”] 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 […]
Retirement Plan Leads to $900,000 in Savings
[vc_row css=”.vc_custom_1612380408194{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column][vc_video link=”https://youtu.be/LyARyAqkxqw” css=”.vc_custom_1656081943350{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text css=”.vc_custom_1656083233452{padding-top: 20px !important;padding-bottom: 20px !important;}”]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 […]
4 Conflicts Faced by Financial Advisors
[vc_row css=”.vc_custom_1612380408194{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column][vc_video link=”https://youtu.be/XYdZYMit0o4″ css=”.vc_custom_1654110574687{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text css=”.vc_custom_1654115009964{padding-top: 20px !important;padding-bottom: 20px !important;}”] 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 […]
What is the difference?
[vc_row css=”.vc_custom_1612380408194{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column][vc_video link=”https://youtu.be/PxNda6ZUKDE” css=”.vc_custom_1652892147483{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text css=”.vc_custom_1652892573120{padding-top: 20px !important;padding-bottom: 20px !important;}”] 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 […]
Capital Gains Exemption for Business Owners
[vc_row][vc_column][vc_video link=”https://youtu.be/qupaHj1vKV0″ css=”.vc_custom_1652890267672{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text css=”.vc_custom_1652891012280{padding-top: 20px !important;padding-bottom: 20px !important;}”] 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 […]
Getting Ready for a Bear Market
[vc_row][vc_column][vc_video link=”https://youtu.be/Pmr4cslrJFI” css=”.vc_custom_1652372880628{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text css=”.vc_custom_1652373623421{padding-top: 20px !important;padding-bottom: 20px !important;}”] 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 […]
Book Value vs Market Value
[vc_row css=”.vc_custom_1612380408194{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column][vc_video link=”https://youtu.be/A2rkQFWgYVk” css=”.vc_custom_1651091854040{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text css=”.vc_custom_1651191028909{padding-top: 20px !important;padding-bottom: 20px !important;}”]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 […]
Are You On Track To Retire?
[vc_row css=”.vc_custom_1612380408194{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column][vc_video link=”https://youtu.be/T1bZnGQs298″ css=”.vc_custom_1650475923452{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text css=”.vc_custom_1650476415337{padding-top: 20px !important;padding-bottom: 20px !important;}”] 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 […]
Using a Margin Account
[vc_row][vc_column][vc_video link=”https://youtu.be/nZNMGRdvkVM” css=”.vc_custom_1650377283130{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text css=”.vc_custom_1651074583935{padding-top: 20px !important;padding-bottom: 20px !important;}”] 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 […]
First Home Savings Account
[vc_row css=”.vc_custom_1612380408194{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column][vc_video link=”https://youtu.be/McWO2JT4_7A” css=”.vc_custom_1649865864217{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text css=”.vc_custom_1649866431381{padding-top: 20px !important;padding-bottom: 20px !important;}”] 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 […]
3 Reasons Retirement Plans Fail
[vc_row css=”.vc_custom_1612380408194{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column][vc_video link=”https://youtu.be/p6Pi6W-1c9A” css=”.vc_custom_1648516766968{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text css=”.vc_custom_1648521346724{padding-top: 20px !important;padding-bottom: 20px !important;}”] 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 […]
3 Mistakes to Avoid in Retirement
[vc_row css=”.vc_custom_1612380408194{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column][vc_video link=”https://youtu.be/uzqJ7O71kXQ” css=”.vc_custom_1647281483668{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text css=”.vc_custom_1647961428693{padding-top: 20px !important;padding-bottom: 20px !important;}”]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 […]
AgriInvest
[vc_row][vc_column][vc_video link=”https://youtu.be/nm7u0FkgFlY” css=”.vc_custom_1646755023570{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text css=”.vc_custom_1646760679141{padding-top: 20px !important;padding-bottom: 20px !important;}”]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 […]
Make $146,000 Tax-Free in Retirement
[vc_row][vc_column][vc_video link=”https://youtu.be/iH8dSI4FPzU” css=”.vc_custom_1644860757290{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text css=”.vc_custom_1644959421246{padding-top: 20px !important;padding-bottom: 20px !important;}”]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 […]
Access Money From Your LIRA
[vc_row css=”.vc_custom_1612380408194{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column][vc_video link=”https://youtu.be/af0KFgu4sYQ” css=”.vc_custom_1644258310258{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text css=”.vc_custom_1644258356979{padding-top: 20px !important;padding-bottom: 20px !important;}”] 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 […]
Don’t Run Out of Money
[vc_row css=”.vc_custom_1612380408194{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column][vc_video link=”https://youtu.be/5r5INLh7Bbg” css=”.vc_custom_1642612256914{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text] 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 […]
MTAR Accounts for Business Owners
[vc_row][vc_column][vc_video link=”https://youtu.be/7VFfoPw_7gI” css=”.vc_custom_1642018123963{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text css=”.vc_custom_1642089451799{padding-top: 20px !important;padding-bottom: 20px !important;}”]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 […]
Donation Strategies for Farmers
[vc_row][vc_column][vc_video link=”https://youtu.be/zWA0wKorp3k” css=”.vc_custom_1640709640403{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text css=”.vc_custom_1640709664781{padding-top: 20px !important;padding-bottom: 20px !important;}”]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.[/vc_column_text][/vc_column][/vc_row]
Capital Dividend Account
[vc_row][vc_column][vc_video link=”https://youtu.be/O3aKQ0iIM4Q” css=”.vc_custom_1637607466173{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text css=”.vc_custom_1637608382130{padding-top: 20px !important;padding-bottom: 20px !important;}”] 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 […]
How To Help Your Employees Retire
[vc_row][vc_column][vc_video link=”https://youtu.be/cqcilDr5Ejs” css=”.vc_custom_1635275350051{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text css=”.vc_custom_1635274685010{padding-top: 20px !important;padding-bottom: 20px !important;}”] 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.[/vc_column_text][/vc_column][/vc_row]
Do You Own Mutual Funds?
[vc_row css=”.vc_custom_1612380408194{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column][vc_video link=”https://youtu.be/palMyXSrM0o” css=”.vc_custom_1634580487997{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text] Do you own mutual funds? If so, there’s likely a 98% chance your portfolio has had a below-average performance. [/vc_column_text][/vc_column][/vc_row]
When to Incorporate
[vc_row][vc_column][vc_video link=”https://youtu.be/VoKHTHv4HU8″ css=”.vc_custom_1634577945807{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text css=”.vc_custom_1634578166776{padding-top: 20px !important;padding-bottom: 20px !important;}”]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 […]
Tax-Free RRSP Withdrawals
[vc_row css=”.vc_custom_1612380408194{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column][vc_video link=”https://youtu.be/j94SRt3X5sU” css=”.vc_custom_1633117683533{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text]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 […]
Why Inflation is Killing Your Investment Returns
[vc_row][vc_column][vc_video link=”https://youtu.be/exToZCcxybc” css=”.vc_custom_1632161361839{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text css=”.vc_custom_1632161933042{padding-top: 20px !important;padding-bottom: 20px !important;}”]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 […]
Use the Bank’s Money
[vc_row css=”.vc_custom_1612380408194{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column][vc_video link=”https://youtu.be/yIIr8H6eNjw” css=”.vc_custom_1627402856419{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text]In this video, I’ll show you how you can grow your net worth by using the equity already built into your home.[/vc_column_text][/vc_column][/vc_row]
Is Being Low Risk, High Risk?
[vc_row css=”.vc_custom_1612380408194{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column][vc_video link=”https://youtu.be/9Vwr8DjdLWk” css=”.vc_custom_1626107535062{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text]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.[/vc_column_text][/vc_column][/vc_row]
Cancel Your Loan Insurance?
[vc_row][vc_column][vc_video link=”https://youtu.be/gugJq5eMFag” css=”.vc_custom_1621352907103{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text css=”.vc_custom_1621352930446{padding-top: 20px !important;padding-bottom: 20px !important;}”]In this weeks video I go over creditor insurance and how it can be replaced with more cost-effective personal insurance.[/vc_column_text][dt_fancy_image image_id=”5919″ width=”700″ css=”.vc_custom_1621353575577{padding-top: 20px !important;padding-bottom: 20px !important;}”][/vc_column][/vc_row]
Invest Tax-Free: MTAR Account
[vc_row css=”.vc_custom_1612380408194{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column][vc_video link=”https://youtu.be/V9PzignBjxs”][vc_column_text css=”.vc_custom_1620140093905{padding-top: 20px !important;padding-bottom: 20px !important;}”] 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 […]
Bitcoin
[vc_row][vc_column][vc_video link=”https://youtu.be/CxEyGmBtZas” css=”.vc_custom_1619501881071{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text css=”.vc_custom_1619502231933{padding-top: 20px !important;padding-bottom: 20px !important;}”]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 [/vc_column_text][/vc_column][/vc_row]
Farm Corporations & RRSPs
[vc_row][vc_column][vc_video link=”https://youtu.be/E13JbAW0gvw” css=”.vc_custom_1617129005089{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text css=”.vc_custom_1616981501445{padding-top: 20px !important;padding-bottom: 20px !important;}”]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 [/vc_column_text][/vc_column][/vc_row]
Starting Your Farm Transition
[vc_row][vc_column][vc_video link=”https://youtu.be/gJfTuO-6b2Y” css=”.vc_custom_1615866353860{border-radius: 2px !important;}”][vc_column_text css=”.vc_custom_1616085713206{padding-top: 20px !important;padding-bottom: 20px !important;}”]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. [/vc_column_text][/vc_column][/vc_row]
Farmers and RRSPs
[vc_row][vc_column][vc_video link=”https://youtu.be/3jWpwJTQZZI”][vc_column_text css=”.vc_custom_1615307723455{padding-top: 20px !important;padding-bottom: 20px !important;}”]In this week’s video, we go over how to properly use RRSPs as a farmer.[/vc_column_text][/vc_column][/vc_row]
RRSP Tax Bomb
[vc_row css=”.vc_custom_1612380408194{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column][vc_video link=”https://youtu.be/yd1jwxKchYI”][vc_column_text css=”.vc_custom_1639420006496{padding-top: 20px !important;padding-bottom: 20px !important;}”] 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 […]
A Capital Gains Exemption Quirk
[vc_row][vc_column][vc_video link=”https://youtu.be/CqypqnZB0FA”][vc_column_text css=”.vc_custom_1613672399507{padding-top: 20px !important;padding-bottom: 20px !important;}”]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![/vc_column_text][/vc_column][/vc_row]
What is a reverse mortgage
[vc_row][vc_column][vc_video link=”https://youtu.be/kcx3bQ_zx1o” css=”.vc_custom_1615868350972{padding-top: 20px !important;padding-right: 20px !important;padding-bottom: 20px !important;padding-left: 20px !important;border-radius: 10px !important;}”][vc_column_text] 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 […]
The Easiest Way to Reduce Your Tax Bill
[vc_row][vc_column][vc_video link=”https://youtu.be/nSpI2-dtGPw” css=”.vc_custom_1633105309436{padding-bottom: 20px !important;}”][vc_column_text] The Easiest Way to Reduce Your Tax Bill Click above to view video! Thank you for watching our video.[/vc_column_text][/vc_column][/vc_row]
Gamestop: Explained
[vc_row][vc_column][vc_video link=”https://youtu.be/zUlGeTVEc2g”][vc_column_text css=”.vc_custom_1612542540465{padding-top: 20px !important;padding-bottom: 20px !important;}”]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.[/vc_column_text][/vc_column][/vc_row]
Gifting the Farmland
[vc_row][vc_column][vc_video link=”https://youtu.be/BY5NKn3F2Sc” css=”.vc_custom_1630350208840{padding-top: 20px !important;padding-bottom: 20px !important;border-radius: 10px !important;}”][/vc_column][/vc_row][vc_row][vc_column][vc_column_text] 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.[/vc_column_text][/vc_column][/vc_row]
Should I Be Buying RRSPs?
[vc_row][vc_column][vc_video link=”https://youtu.be/WCWwAhFa7kY” align=”center” css=”.vc_custom_1612464257262{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text] 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. [/vc_column_text][/vc_column][/vc_row]
Beware of AMT
[vc_row][vc_column][vc_video link=”https://youtu.be/NOzkZQx7Fjw” css=”.vc_custom_1630350334573{padding-top: 20px !important;padding-bottom: 20px !important;border-radius: 10px !important;}”][vc_column_text css=”.vc_custom_1630350311731{padding-top: 20px !important;padding-bottom: 20px !important;}”] Beware of AMT Here is a quick video on what alternative minimum tax is and how it works. Enjoy![/vc_column_text][/vc_column][/vc_row]
Does Your Spouse Qualify?
[vc_row][vc_column][vc_video link=”https://youtu.be/hQK8bFO2JU8″ css=”.vc_custom_1630350476200{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text] 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[/vc_column_text][/vc_column][/vc_row]
Too Much Cash in Your Corp!
[vc_row][vc_column][vc_video link=”https://youtu.be/exR8blXVnOA” css=”.vc_custom_1630350554688{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text] 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.[/vc_column_text][/vc_column][/vc_row]
Let’s Multiply Your Capital Gains Exemption
[vc_row][vc_column][vc_video link=”https://youtu.be/VqzR8GWy8mY” css=”.vc_custom_1630352006724{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text] 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, […]
Trusts – How to keep your farmland in the family and save taxes
[vc_row][vc_column][vc_video link=”https://youtu.be/lbl7iwupODM” css=”.vc_custom_1630352063314{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text]This quick video on trusts explains how to keep farmland within the family while being as tax-efficient as possible![/vc_column_text][/vc_column][/vc_row]
Managing Your Portfolio in Retirement
[vc_row][vc_column][vc_column_text]https://youtu.be/3mwAUqolv20 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 […]
Retirement: What You Need to Know
[vc_row][vc_column][vc_column_text]https://youtu.be/6UwIGk_WKoU 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 […]
Private Health Care Spending Accounts: How Can They Help Your Business?
[vc_row][vc_column][vc_video link=”https://youtu.be/yU88uL6JvAQ” css=”.vc_custom_1630352425942{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text]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 […]
Getting The Best Of Both Worlds From Your Pension
[vc_row][vc_column][vc_column_text]https://www.youtube.com/watch?v=lqV8Ehobmkc 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 […]
How Commuting Your Pension Allows You To Manipulate Your Income
[vc_row][vc_column][vc_column_text]https://www.youtube.com/watch?v=TrjWlPOqz2w&feature=youtu.be 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 […]
Understanding the Proposed CSSB Pension Changes
[vc_row][vc_column][vc_column_text css=”.vc_custom_1611896333374{padding-bottom: 20px !important;}”]https://youtu.be/2r5I0HeZNa4?t=2 *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 […]
How to properly manage a retirement portfolio
[vc_row][vc_column][vc_column_text]https://youtu.be/q9N2DAt0Djk 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 […]
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
[vc_row][vc_column][vc_video link=”https://youtu.be/SDGXOkQjgxE” css=”.vc_custom_1623956167399{padding-top: 20px !important;padding-bottom: 20px !important;}”][vc_column_text] 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 […]
How to convert your health expenses into corporate expenses
[vc_row][vc_column][vc_video link=”https://youtu.be/Oc_FKNvMfLg” css=”.vc_custom_1630360014964{padding-top: 20px !important;padding-bottom: 20px !important;border-radius: 2px !important;}”][vc_column_text css=”.vc_custom_1616520171904{padding-top: 20px !important;padding-bottom: 20px !important;}”]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 […]
What happens when you withdraw your pension?
[vc_row][vc_column][vc_column_text]https://youtu.be/JcziaDS5R2M 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 […]
How to supercharge your RRSP
[vc_row][vc_column][vc_column_text] 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?
[vc_row][vc_column][vc_column_text]https://www.youtube.com/watch?v=-WEtYpTdysg&feature=youtu.be 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 […]
Why your RRSP should grow as little as possible
[vc_row][vc_column][vc_column_text]https://www.youtube.com/watch?v=RFAZL6qPwkE&feature=youtu.be 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. [/vc_column_text][/vc_column][/vc_row]
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 […]