The professionals at The Money Tree Financial Planning Inc. strive to bring growth and stability to your financial life.
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With less than a month before the March 1st deadline to invest in an RRSP for the 2023 tax year; many people still wonder whether they should be investing their savings into an RRSP or TFSA. In a perfect world,…
This year, some investors are asking why they would invest in a Balanced Fund when they can get a decent rate on a Guaranteed Investment Certificate (GIC). This is a common question we hope to answer. In 2023, Balanced Funds…
There are several situations where you would want to have a Power of Attorney (POA) in place in the event something was to happen to you. For example, someone in the military who is being deployed overseas may want to…
Let’s suppose you invest monthly into your RRSP, say $300 per month to total $3600 at the end of the year. If you have additional unused contribution room, you can boost your contribution with a short-term RRSP loan. By borrowing…
Last week, the U.S. Securities and Exchange Commission (SEC) approved Bitcoin ETFs into the crypto markets. Bitcoin ETFs are now listed and can be traded in mainstream portfolios. This approval has sparked the interest of some investors, wondering if it…
Working Canadians: RRSP Contribution Limit: The maximum contribution limit for 2024 is $31,560; for 2023 it’s $30,780. TFSA Limit: The annual contribution limit for 2024 is $7,000. If you have never contributed to a TFSA the maximum cumulative amount is $95,000. Basic…
To say the markets ended 2023 on a strong note would be an understatement. Most of last year, the markets were dominated by a handful of mega-cap stocks commonly referred to as the magnificent seven. The rest of the market…
Santa’s on a tight schedule, he only has a few days left to make sure all the presents are wrapped, packed and his reindeer are ready to fly. The end of the year is also a crucial time for last…
The holiday season is here! Tis’ the season to relax, spend time with your loved ones and eat lots of delicious food. It is also the time of year in which, for most of us (myself included), we increase our…
The outlook for the economy and the markets is finally starting to turn positive, with central banks holding rates for now, but expected to start cutting in 2024. According to CIBC World Markets Inc.’s economic outlook, even though 2024 is…