I'm sure no-one wants to be reminded that their Income Tax Return needs to be filed after such a tough twelve months. That deadline is approaching though so it's very important that you have all your T-Slips and RRSP Contribution Receipts rounded up. For anyone with a Non-Registered Investment Loan, you'll want to use your Statement of Interest to write off any eligible Interest Expenses.
As we grow up, what we learn about money from our parents can significantly influence how we earn, save, and grow our wealth. Meaghan, an elementary school teacher, credits her mother for her healthy approach to finances today. "I was lucky to grow up understanding that I could control my financial future if I was smart about it." There's a lot to be learned from a generation that knew how to manage their finances and feel optimistic about the future. Consider these time-tested principles that you can use to enhance your relationship with money.
If you are anything like us, you were very happy to see the end of 2020. Obviously, we didn't think that things would magically get back to normal in 2021 but we came into the New Year with some more optimism and hope. Unfortunately, we've already had our fair share of drama in the first couple months of 2021. Advances on the vaccine front have been tremendous but getting those vaccines to people has been a lot harder to do, especially in some countries (including our own). I never thought I'd live to see an angry mob attack the White House so that was something to see in early January.
When Sarah graduated from university and got her first job as a regional sales rep, her parents bought her a car to ensure she'd have a reliable vehicle for the travelling her new position would require. Sadly, only weeks after receiving this generous gift, Sarah hit black ice while driving and lost control. Fortunately, she was alone, and no other vehicles were involved. Unfortunately, the accident left her with severe injuries and a long, uncertain road to recovery.
Your estate is everything you own today - your home, savings, investments, life insurance and personal possessions. So, no matter where you may be on your financial journey, you have an estate that needs protecting. But how you approach this plan is important.