One of the most common financial objectives is to leave money to children, but it is not always a successful endeavour. According to some projections, 70 percent of inherited money evaporates before reaching the third generation, with average losses climbing to a staggering 90 percent by the fourth.
Whether it’s from an increased life expectancy or growing financial pressures, the census numbers tell us that baby boomers are working longer than previous generations.
There is no question that being self-employed is not easy. There are many hardships that business owners have to overcome to be successful. But there are many benefits that make this journey worth it. There is no denying that not everyone has what it takes to grow a successful business. But if you feel that you have a great idea, are persistent, determined and resourceful, then being self-employed offers a potential lifestyle you’ll never realize you can have.
Separately Managed Accounts (SMAs) are not new. In fact, they have long been used by corporations, trusts, endowments, pension plans and high net worth investors. These investors demand a level of attention to their requirements that simply cannot be met by mass-market retail investment products. These investors require a focus and direct relationship with the professionals who are managing their investment portfolio.
If you operate as an Incorporated Company, Partnership or Sole Proprietorship, CRA provides you the opportunity to implement and participate in a Private Health Services Plan (PHSP) to reduce the sting of your medical and dental expenses.
When it comes to retirement planning, several assumptions must be used. For example, at what age does retirement start and at what age does it end, where will people live, etc. The fact is that planning retirement for a single person is much easier than for a couple.
Here are some of the most commonly asked questions.
When it comes to protecting ourselves and our loved ones from fraud and identity theft it takes focus and commitment. We cannot let our guard down. We should never underestimate the thieves.
Investments can fall into categories that can be benchmarked. For example, if you own several Canadian companies they can be benchmarked against an index like the S&P TSX. The same can be done with U.S. companies or international companies or bonds. If your investments are up 4% and the index is up 7%, then you are underperforming and receiving no value for the money you’re paying. On the other hand, if your investments are down 4% and the comparable index is down 7%, then you’re receiving value - as you outperformed the index.
The financial education of your children should start early. It should be a part of everyday life. The best way is to teach by an example. Here are some tips you can follow.
It seems like every time we open our internet browser, we see articles about TFSAs. Should you put money in your RRSP or TFSA? RRSP versus TFSA. TFSA traps to avoid. Why TFSA is the best option for saving. How to use your TFSA, etc.
The more we talk to investors, the more we are realizing that a general knowledge of this type of account is very limited.
It's the rise of the machines. When you walk down the street, everybody is looking at some sort of device, staying connected. You want to have everything right now, right here. We want to get answers immediately, just by clicking the mouse or asking Google. Robo Advisors, which have made headlines in recent years, are online investment management sites that manage your investments for you through unique algorithms. So let’s pit humans: Investment Advisors and Robots head to head to see who you benefit more from when it comes to managing your investments.
You might think this will never happen to you but our experience working with people that transition from a working career to retirement suggests this happens more often than not. You talk about retirement for a long time. You go from the stage in life where you’ve planned everything out and been in total control to what does the future hold. It doesn’t matter how much time and energy you’ve put into this phase of your life. It’s perfectly normal to be confused, excited and a bit overwhelmed all at the same time. After all you are entering a phase where you have zero experience.
An Estate is the property that a person owns or has a legal interest in. The term is often used to describe the assets and liabilities left by a person after death. Estate Planning involves the transfer of someone's assets (e.g. property, money) when they die, as well as a variety of other personal matters.
There is no shortage of ads focused on investing that investors are exposed to, and many come with catchy headlines. The problem when confronted with realms of information is that we focus on the headlines and ignore the details. They say knowledge is power. We believe the more we know, the more likely we are to make better decisions and better decisions lead to better outcomes.
Unfortunately, you need to get into the details to decide if the headlines are accurate and more important, do they apply in your situation. General information does not always work in your specific situation.