Becoming critically ill is something none of us want to think about; but we all know families whose lives have been dramatically affected by chronic disease. In fact, 1 in 3 Canadians currently live with a chronic disease; 1 in…
When do you need a Power of Attorney?
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…
How to Cope Financially with a Critical Illness
Every three minutes Cancer picks a fight with another Canadian. Becoming critically ill is something none of us want to think about; but we all know families whose lives have been dramatically affected by this terrible disease. Some of you are…
Insuring the Cottage Properly
Thanksgiving is bittersweet long weekend for many cottage owners as it signifies the end of the summer season. After enjoying their turkey dinner, cottagers will be pulling out the dock, draining the water, and storing away the deck furniture. Once…
Getting Divorced & Dividing Assets
When you split up with your spouse you will need to divide your assets evenly. The division of assets upon relationship breakdown is a provincial/territorial concern and there are variations across the country depending on where you live. There are…
Converting your RRSP to a RRIF this year
By December 31st in the year in which your turn 71 years young, you will be required to convert your Registered Retirement Savings Plan (RRSP) into a Registered Retirement Income fund (RRIF). If this is you, here are five things…
Tax-Free First Home Savings Account
The Tax-Free First Home Savings Account (FHSA) is a great tool to help maximize your savings towards purchasing your first home! This is also a reminder that you can only carry forward unused contribution room one year, so if you…
How to Teach Your Kids the Importance of Finances
As a parent, it can seem almost impossible to teach your kids the importance of saving for their future and understanding the value of money. Depending on the age of your child, the way you teach these lessons may vary. …
What is an ETF?
Exchange Traded Funds (ETFs) are investment vehicles that combine some of the features of Mutual Funds with some of the features of individual stocks. Although they are structured and regulated like Mutual Funds, they are listed and traded on stock exchanges…
7 Myths about Financial Planning
Myth #1: You Don’t Need One Whether you have a lot of money or very little a sound financial plan will help point you in the right direction – towards your long term goals. Whether they are to minimize taxes,…