Steps to Avoid the OAS Clawback
According to the Canadian government website, Old Age Security is the largest pension program in Canada. OAS pays a monthly income to seniors who are age 65 and over. The amount of the payment is not based on past income but rather how long you resided in Canada after the age of 18. If you have turned 65 you are eligible for the maximum OAS income if you have resided in Canada for at least 40 years after turning 18 AND have resided in Canada for at least 10 years prior to receiving approval for your OAS pension. There are some exceptions for those who don’t fully qualify based on temporary absences during that requisite 10-year period.
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Life Insurance – Do You Buy, Rent, or Borrow?
Without a doubt, life insurance is valuable protection provided by your employee benefit plan, but should it be the only life insurance coverage you have? Probably not, if you want to ensure you have sufficient long term protection to cover all your family’s financial needs should you die unexpectedly.
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Private Health Spending Plans for the Owner/Operator Business
Individuals who have incorporated their business such as consultants, contractors and professionals often find that providing affordable health and dental care coverage for themselves and their families can be an expensive proposition.
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Canada Pension Plan – Should You Take it Early?
New Rules governing the Canada Pension Plan took full effect in 2016. Under these rules, the earliest you can take your CPP Pension is age 60, the latest is 70. The standard question regarding CPP remains the same – should I take it early or wait?
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Debt is a Four-Letter Word
Debt today is so common, you might say it can't be avoided. Most people are not in a position to purchase a house or car for cash, while those who can buy such things outright may prefer to finance and keep control of their capital. The truth is, while most of us see...
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Optimizing Wealth Through Asset Re-Allocation
If you are an active investor, your investment holdings probably include many different asset classes. For many investors, diversification is a very important part of the wealth accumulation process to help manage risk and reduce volatility. Your investment portfolio might include stocks, bonds, equity funds, real estate and commodities. All these investment assets share a common characteristic – their yield is exposed to tax. From a taxation standpoint, investment assets fall into the following categories…
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RESP Or TFSA? A Primer On Saving For Your Child’s Education In Canada
It’s easy to shut out the noise about rising tuition costs when your kids are still trying to navigate the early years of grade school. But ignoring the conversation altogether does a disservice to you further down the road. In Canada, the average tuition cost for...
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Are You Prepared For Retirement?
Whether you are decades away from retirement or if it is just around the corner, being prepared for retirement and aware of the planning opportunities will take the fear and uncertainty out of this major life event. Blue sky your retirement plans to get...
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Are you on the Right Track?
In bull markets, some investors develop unhealthy expectations as to the long term yields their investments should provide. Ten years ago, some came to accept returns as high as 15% to 20% per annum as the base return their fund and portfolio managers were expected...
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Which is Better – TFSA or RRSP?
One of the most common investment questions Canadians ask themselves today is, "Which is better, TFSA or RRSP"? Here's the good news - it doesn't have to be an either or choice. Why not do both? Below are the features of both plans to help you understand the...
read moreRecent posts
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Steps to Avoid the OAS Clawback Mar 1, 2019 -
Life Insurance – Do You Buy, Rent, or Borrow? Feb 1, 2019 -
Canada Pension Plan – Should You Take it Early? Dec 2, 2018 -
Debt is a Four-Letter Word Nov 15, 2018
