Financial Library

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.

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financial planning

September Cool Down

Posted on: October 9, 2023

Our last newsletter talked about how the Canadian Economy had slowed down in the second quarter of the year. The good news from that was the possibility that the Bank of Canada would stop raising Interest Rates. Unfortunately, we have seen more of a mixed picture since then. After falling to a two year low of 2.8% this June, Inflation has come back up. Canada’s Annual Inflation Rate went up to 4% in August. It was 3.3% the month before that1. One of the major factors that is keeping the Cost of Living higher is Oil Prices.

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investment planning

Back to School

Posted on: September 11, 2023

September is always a very busy time of year for us with getting our three girls back to school. We've got one in her last year of Elementary and two in Middle School, so lots going on. We are getting settled in and adjusted to the early morning drop-offs. Please bear with us as we get accustomed to the fall schedule!

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economy

Interest Rates and Your Financial Strategy

Posted on: September 11, 2023

Working towards financial independence includes assumptions about how the world operates and how we navigate within that environment. These assumptions work best when the world remains the same allowing you to make reasonable future projections.

Challenges come when changes occur in the operating environment which may require reassessing wealth building strategies. The disruptions from early 2020 (Covid, supply-chains, etc.) seem to have ushered in some significant changes in our world.

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investment planning

How to Get Income Out of Your RRSPs

Posted on: September 11, 2023

Roger and Linda, like many Canadians, have saved for years for their retirement. They took advantage of RRSPs and now have a substantial amount of savings. As Roger will turn age 71 this year, they need to decide on the best strategy for using their RRSPs for their retirement income needs.

Until now, Roger and Linda have been relying on their non-RRSP investments and government benefits so their RRSPs could continue to grow tax-postponed. Roger has to choose from the following by the end of the year or all his RRSP funds will be fully taxed:

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retirement planning

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