Investing

Estate Planning using Segregated Funds

It has been estimated that close to two trillion in intergenerational wealth transfers will occur in Canada over the next decade as Baby Boomers glide through their “golden years”. A massive shift of capital will flow through to the “Boomers” and then again to their children or another family member at death.

The key to maximizing any inheritance (either to be received or to be gifted) is to ensure taxes and estate administrative costs are kept to a minimum, specifically by avoiding the process of probate if possible.

Avoid these 6 TFSA Mistakes in 2022

In December 2021 the federal government announced that the 2022 annual TFSA limit will remain at $6,000. This means the cumulative tax-sheltered lifetime limit is now at $81,500.

As I have explained to many clients, there is no “downside” to owning a TFSA, any TFSA is better than no TFSA. However, many people make mistakes with the accounts which can cost them in the long term.

Fundamental Estate Planning Concepts

Draft a Will

Dying “Intestate” creates legal and financial obstacles for your family, something which could easily be avoided with a Will.

By not having a Will the government will use a default selection, stating how assets are to be split between your spouse and children

RRSP, CPP & TFSA Contribution Changes for 2021 Plus 6 Interesting Facts About TFSAs

Annually the Canada Revenue Agency (CRA) adjusts the contribution schedules for three of our most popular retirement and investment vehicles.

Increase in RRSP Contribution Room

The maximum allowable room has now been increased from $27,300 (in 2020) to $27,830 as of January 1st, 2021.

Bull or Bear Stock Market – Analysts’ split for balance of 2020

Bull or Bear Market deals with stock market expectations from industry analysts for the balance of 2020.

It’s an article I wanted to share from Wealth Professionals. I subscribe to their electronic newsletter and with the election coming up in less than 50 days, thought you may find this of interest.

Stick to What You Know – Avoid the Rest

Even in “normal” times, the future, at least in the short to mid term, is a guessing game at best. The emergence of COVID-19 is the best example that trying to look forward with any clarity and precision is a fools’ errand.