Finance

Top 5 Differences Between Tax-free Savings Accounts (TFSA) and Registered Retirement Savings Plans (RRSP)

The intent of an RRSP is for your retirement. TFSAs were designed for any type of financial goal such as travel, buying house, emergency savings, and so on. You need to earn income to contribute to an RRSP but not with a TFSA. When you contribute to an RRSP, those contributions are tax deductible against… Read More…

Canadian Business Owners and Retirement: Consider an Individual Pension Plan

In February 2018 the Federal government introduced new rules surrounding the Small Business Deductions (SBD) and how it treats passive income over $50,000. This change caused great concern for many small business owners across Canada, especially those who have always planned to use that income for retirement. One possible solution is what’s called an Individual… Read More…

Your Year End Investment Statement Shows A Negative Return…

Most Canadians will have received their December 31st investment statement in the mail and noticed that their investments have not had a great run in 2018. If that’s you, what do you do next? First, do not panic. Instead, ask yourself these 3 questions: When was the last time you met with your advisor and… Read More…

What is Financial Literacy and How Do You Get There?

If you have not heard, November is Financial Literacy month in Canada and so my blog this month is centred on what I believe are the 5 essential components to financial literacy. The definition from Wikipedia: “Financial literacy is the possession of the set of skills and knowledge that allows an individual to make informed… Read More…

Are You Financially Healthy? Really?

Do you make good money and want to keep more of it? Do you have a debt and spending strategy? Do you have a savings plan for retirement? Do you have the right size safety net? Answer the following questions truthfully based on what you and your family are doing today. We save 10% of our net income…. Read More…

Why Do Canadians Fail When It Comes to Personal Finances?

A 2017 survey (CIBC polled of Canadians with household incomes above $100,000) says almost half of Canadians have no financial plan in place at all. Nothing detailed that tells them how they will reach their goals. When I talk about personal finances, I try hard to stay away from the word ‘budget’. Why? Because there… Read More…

Are You going through a Divorce? Here is a Financial Checklist

One of the most often asked questions, when someone is going through a divorce, is, “What financial documents do I need?” Here is a checklist for clients to use so that all the important financial information is collected. >> Checklist for Separation and Divorce   [social_warfare]

5 Good Reasons to Trust ME as Your Financial Advisor

I am not employed by any Bank, Trust or Insurance companies, I give you independent financial advice. I will never sell you a debt product such as a credit cards and lines of credits. I specialize in cash flow (disposable income) so for most of my clients we spend time understanding where your money is… Read More…

Cash Flow – the Nemesis for Entrepreneurs

As a Financial Advisor who specializes in Cash Flow, many of my clients are entrepreneurs who wear multiple hats: CEO, Book Keeper, Sales manager, and HR manager. When I ask what their Cash Flow looks like many say that they often feel like they are “robbing Peter to pay Paul” and want it to stop…. Read More…

Tip # 6 for Managing Cash Flow for Entrepreneurs

Tip #6 Do not put your head in the sand when it comes to spending. Many business owners have come from the corporate world and were able to have a monthly expense account that someone else was looking after. This can cause over-spending and should be reviewed monthly. In many cases the  spending is also… Read More…

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