Expecting to remain healthy for an extended period of time is a false assumption that can quickly undermine a financial plan. In fact for a couple aged 65 the likelihood that one of them will require long term care is over 80%. This statistic is exemplified by the fact that a 2012 survey determined that over half of all Canadians….
Given that there is definitely a correlation between the overall quality of life and the state of your financial affairs is makes good sense to devote an adequate amount of time to your financial planning program. In that regard I have prepared a list of planning tips to assist you in reaching the goals you have set. Set a budget….
A good friend, business associate and highly respected speaker, Mr. Jim Ruta, shared his simple, yet effective financial planning strategy with me and I present it here for your consideration. Although light in nature the message is clear. Learn to live on 80% of your NET income. Keep 20% in reserve. So many of us live on cash flow-where your….
A recent article published by Golda Brown caught my eye and I would like to share the information with you in my column this month. Many spouses who don’t earn a paycheque think that insurance of any kind is a waste of money. Yet if this partner dies the working spouse will be forced to cover both funeral costs and….
Given that the pension income splitting provisions under the income Tax Act permit couples to split their pension income (to take advantage of using each partners’ exemptions and to reallocate incomes) once their RRSP plans are rolled over into a RRIF the questions as to the benefit of using a spousal RRSP as a tax planning tool has been raised….