Financial Library

Avoid the Boomer-Widow Financial Syndrome

Posted on: December 11, 2023

It is seldom planned or wished for, but it is a reality and something that requires discussion - the illness and/or death of a spouse or partner. As the so-called Baby Boomer generation ages, there is a marked increase in widows suddenly left with financial situations that they do not fully understand. There are others who are forced to financially self-educate while providing quality of care for a partner that previously, and perhaps solely, took care of that role.

Tags: 
estate planning

Beware Out There - Online & Telephone Scams

Posted on: November 13, 2023

Over the last few months, we've had a number of clients reach out about things that they have seen online. Phony ads promising massive returns and using politicians or celebrities to attract people to their sites. We can't stress enough how important it is to be skeptical of anything you see online. Sites like Facebook don't do a good job of weeding out nonsense or scams. Not only have we seen all kinds of fake stories on Facebook over the last few years, but now we are finding these investment scams too.

Tags: 
fraud prevention
fraud protection

Year End Tax Planning Ideas

Posted on: November 13, 2023

With the year's end fast approaching, here are some ideas to minimize your 2023 tax bill.

The first idea is to look at harvesting any tax losses in an investment portfolio to help offset any capital gains you may have triggered. Even if there are no capital gains, non-registered tax losses can be applied to previous year tax returns to generate a tax refund. Or capital losses can be carried forward indefinitely and used against future capital gains. Just remember to keep track of those figures as CRA may not do so.

Tags: 
tax planning

Five Pillars of Financial Literacy

Posted on: November 13, 2023

November is financial literacy month - a great time to reflect on your relationship with money and the decisions you make that guide you toward a secure future. Financial literacy is a set of five key skills that help Canadians navigate the complex world of personal finance with clarity, empowering them to achieve their important financial goals. These key pillars of financial literacy typically include the following:

Tags: 
financial strategy
financial strategies

What if I Can't Look After My Affairs?

Posted on: November 13, 2023

Clarke owned a small business that employed three other people besides him. He had sole signing authority on his business bank account, and personally had a joint mortgage on his home with his wife, Lois. His car was registered in his name only. Clarke was generous with gifts on special occasions and holidays for his children and his wife, and supported several charities on a regular basis.

Tags: 
eldercare
estate planning

Tips for Dealing with Higher Inflation

Posted on: October 9, 2023

Inflation is a reality of modern life, and in recent years, it has become increasingly challenging to manage personal finances in a higher inflation environment. Higher inflation can lead to higher prices for goods and services, which can in turn make it harder to save money and plan for the future. However, there are steps you can take to successfully manage your personal finances in a higher inflation environment.

Tags: 
financial planning

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