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Financial
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This newsletter is courtesy of Terry Fay and RetirementByDesign.ca. Please remember that while strategies outlined within this newsletter may be appropriate for some investors, you should always consult a financial advisor to determine if they are appropriate for you.
Sincerely,
Terry
Hello
:
Another RRSP season has come and gone and I find myself asking the same question every year, “Why do some clients leave these decisions to the last minute?”
The RRSP season has been evolving from the month of February to the last week in February. With a little planning, investor’s can make contributions monthly throughout the year. This not only makes it easier to save, it provides additional benefits as well.
- Dollar cost averaging is investing regularly through out the year; you buy at various prices giving you a greater likelihood to receive better returns.
- Plan and allocate investments strategically rather than making quick last minute decisions.
- Borrowing to invest costs money, and although it’s better to borrow to invest than to not invest, a regular monthly plan will save you the interest.
- Request a reduction in tax at source from CRA allowing you to employ your tax dollars all year, reducing the effective tax cost now, rather than waiting for a tax refund in April.
Naturally, we are here to help you make the best financial planning decisions, planning regularly now will help you save more so you can retire sooner.
All the best,
Terry
Family
Cottages: Holidays or Headaches?
By Arthur Drache
Almost anyone who advises on estate planning will say that family cottages generate some of the most acute planning problems. There are two distinct issues in play. The first is the question of taxes that might be payable when the owner dies and wants to leave the cottage to the next generation. The second revolves around making arrangements for the next generation (if there are two or more children) to share the use of the cottage.
Ironically, the family cottage usually generates more problems than the family home. Few children anticipate moving into their parents’ home once the parents die. But there is an emotional aspect to cottage ownership that is seldom present with an urban house, and more than one family feud has started when well-meaning parents leave the cottage to two or more siblings.
If
you have a pension plan, you'll want to read my eBook, Maximize
Your Pension, Maximize Your Retirement. 10 Important Questions, 10 Simple
Solutions.
I've put a lot of work into this eBook and it is resource you won't want to miss. It is free for you to download from my web site but I have one stipulation, please pass it along to your colleagues who will also be receiving a pension.
All you really need to know is that we are committed to helping our clients achieve financial security and peace of mind.
Our Mission: Enhancing peoples lives by creating a positive life vision and the money to support it through our unique approach to financial planning.
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