Retirement Planning Wisdom
TFSA or RRSP? Cutting through the Confusion (as seen on Money.ca)
Here is my article from Money.ca… When it comes to choosing between a Tax-Free Savings Account (TFSA) and a Registered Retirement Savings Plan (RRSP), there are plenty of details to keep you up at night. It’s important to look at the pros and cons of each plan, so you can develop a financial plan that’s…
Read MoreFinancial Post Article: Couple expecting $1-million inheritance want to know if they can retire early
The Financial Post asked me to review the finances of a couple who are expecting a $1 million inheritance and want to know if that will help them retire early. Given that an estimated US$84.4 trillion in savings, stocks and property will pass from baby boomers to their heirs and favoured charities by 2023, this…
Read MoreWhen can I Retire with the Lifestyle I Want?
Financial freedom. It is what we really want. You need a Retirement Plan to get there. It will not happen on its own. Creating your Retirement Plan is fun. It makes you wealthier. It’s not about your money – it’s about your life. Prefer an overview? Like videos or podcasts? Check out our whiteboard video,…
Read MoreHow To Live Off Your Investments and How Much Do You Need? BuildWealthCanada Podcast featuring Ed Rempel
How much do you need to be financially independent? That is just one of the many questions posed by Kornel Szrejber of Build Wealth Canada. He recently interviewed me for his podcast, where I go into depth about financial planning practices I use with my clients, as well as complex tax questions. You can watch…
Read MoreFinancial Post Article: Woman well short of magic $1-million retirement fund, but it might not matter
The Financial Post asked me to review the finances of a woman who wants to retire in seven years, at the age of 65. Unfortunately her current investments won’t get her to the magic number of $1 million that she believes is necessary to leave work. With the lifestyle she imagines at retirement and the…
Read MoreInvest a Lump Sum or Bit-by-Bit. Which Is Smarter?
Invest a Lump Sum or Bit-by-Bit. Which Is Smarter? You have a lump sum of cash and you’re trying to figure out how to invest it. The stock market seems pretty turbulent at the moment, so you may be wondering if you should invest your lump sum all at once or bit-by-bit. Maybe you got…
Read MoreBeware of Nice Advisors
I’ve talked with thousands of Canadians that will not have the life they want because their advisor gave them bad advice. Why do they stick with their advisor? I’ve heard it over and over again. They say: “because he’s a nice guy”. The advice here is, you need a competent advisor & real advice, not…
Read MoreUsing Your Corporation As Your Retirement Fund
Can you fund your retirement from your corporation? That’s the question I answer in my latest video and podcast episode specifically for business owners. This is part # 2 of the video I did last week, where I go deeper into tax-efficient investment strategies when owning a corporation. It may seem complicated (if you’re talking…
Read MoreFinancial Post Article: Woman with $3.77 million in investments needs balance between private equity, GICs
The Financial Post asked me to review the finances of a 79-year-old woman with $3.77 million in investments, who wants to structure her income to minimize tax. Retired in 1978, she leased land from her family farm to a local farmer, which became her source of income. After selling the farm, she now lives in…
Read MoreWhy Most Financial Plans Fail
Many people who work with us to figure out their retirement plan, have created a financial plan before. You can get a financial plan from a bank, online methods, financial advisors or fee-only financial planners, but often these financial plans fail. They do not give you the life you want. In my latest video and…
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