Seniors First BC

Sadly, we have all heard stories of a senior who has been financially, emotionally, or physically abused, by a stranger or even a close family member.

Seniors First BC is a charitable, non-profit society that provides information, legal advocacy, support, and referrals to older adults across BC who are dealing with issues affecting their well-being, as well as those who care for them.

Read More

What I would tell my 19-year-old self about Finances & Money

Imagine having the opportunity to go back in time and talk to the 19-year-old you, having the knowledge you do now? I turned 69 this year so going back 50 years to when I was 19 and having that “talk” with myself would have had a dramatic effect on my over all financial health.

Here are 8 things I learned and would do differently:

Read More

Getting to Know More on Sustainable Investing

A recent survey showed that 73% of Canadian investors wanted to learn more about how their investments inside RRSPs, TFSAs or non-registered holdings can contribute to positive social change.

Sustainable investing, can be done individually through DIY platforms or through Mutual or Segregated Fund purchases, takes into consideration environmental, societal, and corporate governance (called ESG) issues.

Read More

Step by Step Checklist for the Executor

Many years ago, you may have agreed to be a family member or friend’s executor when they drafted their Will.  Well, the time has come, the individual has passed away, and you are asked to preform your duties as the executor of the estate. Where do you start?

Read More

Introducing the Multigenerational Home Tax Credit

As all Canadians know, home ownership is getting more unaffordable regardless of
the buyer’s age. Rental suites are becoming increasingly expensive as rents in major markets soar and short-term rentals, like Airbnb, replace traditional units which normally would have been available.

Read More

Saving Income Taxes for those in the new Gig Economy

The Covid pandemic forever changed the way Canadians viewed their relationship to their employer and working from home rather than a traditional office. Many ventured into the world of being self employed either as a full-time independent contractor or on a part time basis, and the term Gig Economy was born.

Read More

What to Know About a Power of Attorney Agreement

In a previous newsletter we pointed out the glaring fact that less than 55% of Canadians have a valid Will, and an even smaller percentage have a Representation Agreement and Power of Attorney.

A common misunderstanding is that POAs are only for seniors, but this is inaccurate as a POA is a solid financial tool that any adult can benefit from.

Read More

The New First Home Savings Account (FHSA)

The recent federal Budget in March 2023 introduced Canadians to a new financial tool meant to make the entry into residential home ownership more of a reality for many.

The FHSA will allow eligible Canadians to make a tax-deductible contribution to a savings vehicle geared solely for their first home purchase.

Read More

Is a Reverse Mortgage Suitable for you?

Want a subject matter everyone has a strong opinion on other than politics and religion? Look no further than the Reverse Mortgage program available to Canadian seniors, a subject misunderstood by far too many retirees.
As a financial advisor to a large group of seniors I have seen this product successfully create an unexpected source of wealth to allow retires to maintain or even enhance their standard of living.

Read More

The Pre-retirement Check List

You have done the hard part and made it to your ‘50s in better financial shape than where you were at a decade ago. If you have children, they are now launched, and their financial dependency on you has hopefully decreased. If you did not have children, you probably used the additional cash flow to hammer away at your mortgage and build up your assets.

Now as you look at your options for retirement you are wondering, “can I do this early or am I looking at the traditional age of 65 to make it happen?”

Read More