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Author Archives: Rick
Time to Take the Tax Free Savings Account Seriously
The Tax Free Savings Account (TFSA) was introduced in 2009. In 2009 and subsequent years through 2012, the TFSA dollar limit was $5,000 per year. For the years 2013 and 2014, the TFSA dollar limit is $5,500. For anyone who … Continue reading
Posted in financial goals, financial planning, investing, saving, Taxes Comments Off
Four Elements of Financial Planning
When most people hear the term “financial planning”, they automatically assume it has something to do with saving and investing. While saving and investing are integral components of financial planning, they represent only one part of the equation. As we … Continue reading
Posted in budget, credit, debt, financial goals, financial planning, Insurance, investing, retirement, saving, security Comments Off
Do You Need a Power of Attorney?
In our line of work we are occasionally required to act on the instructions provided by a third party. In order to accept instructions from a third party we must have a duly executed Power of Attorney, or POA. A … Continue reading
Posted in financial planning, security Comments Off
The Purpose of Your RRSP
You are probably hearing a lot these days about the options for your Registered Retirement Savings Plan, or RRSP. The reason is that the deadline for 2013 eligible contributions is fast approaching. Thanks to various government programs, the RRSP has … Continue reading
Posted in financial goals, financial planning, retirement, saving, Taxes Comments Off
Your Investment Policy Statement
Welcome to 2014! We thought we would begin the year with a suggestion for a New Year’s Resolution. Establish your personal Investment Policy Statement, or IPS. An IPS is a document that puts in writing a number of parameters that … Continue reading
Posted in financial goals, financial planning, saving Comments Off
Panic Doesn’t Pay
The US market dropped about 5% during the month of August. This caused memories of 2008-2009 to surface. Some investors began to feel anxious and wanted to make decisions about how to protect themselves against losses. People often feel tempted … Continue reading
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Year End Tax Tips
Tax planning is probably the farthest thing from your mind at this time of the year. However, the year 2013 is drawing to a close. That means you are running out of time to take advantage of any last minute … Continue reading
Death and Taxes
You’ve heard it before. There are only two certainties in life: death and taxes. Both are unavoidable. But did you know that the biggest tax bill you may ever have to pay is actually on your tax return filed after … Continue reading
Posted in financial planning, Taxes Comments Off
What If You Develop a Critical Illness?
Critical illness is not something we like to talk about. It is, however, an element of risk that must at least be considered. The reality is that more than half of all people living with cancer will survive at least … Continue reading
Posted in financial planning, Insurance, security Comments Off
Investing for the Future
With this short essay we will summarize market developments since the start of the year and share our thoughts for the period ahead. First though, a quick recap of the first half of 2013. In late May, the US market … Continue reading