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Category Archives: financial goals
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
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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
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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
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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
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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
Posted in financial goals, financial planning, investing, security
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The Value of Financial Planning
The Financial Planning Standards Council (FPSC) recently released a report on a three-year study that took place between August 2009 and August 2012. It involved almost 15,000 Canadian participants. The objective was to evaluate and gain a better understanding of … Continue reading
Posted in financial goals, financial planning
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Changing Needs During Retirement
For those of you who are older than age 50, we ask that you think about how your life and lifestyle changed in the thirty years between your 20s and 50s. If you’re in your 20s, you will have to … Continue reading
Posted in budget, financial goals, financial planning, retirement, saving, security
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Is Debt Settlement Right For Me?
Debt settlement is a practice through which a person owing creditors a good deal of money enlists the services of a debt relief company to negotiate with these creditors. The purpose of debt settlement is to have a portion of … Continue reading
Posted in budget, credit, debt, financial goals, financial planning
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What happens after bankruptcy?
Though several options exist for people who undergo the process of clearing their personal debts, sometimes bankruptcy is the best course of action in regard to repairing poor financial circumstances. When you file for personal bankruptcy, you legally declare that … Continue reading
Posted in credit, financial goals, financial planning
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Are You Ready for Retirement?
So you’re thinking about retirement. It may sound good; however, it can also be an emotional and stressful time of life. You begin to dream of playing golf every day, travelling the world, or just sitting back and relaxing. But … Continue reading
Posted in budget, financial goals, financial planning, investing, retirement, saving, security
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