As we look back on 2024, Canada’s financial and stock markets reveal a mixed bag of performance, and much of the volatility can be traced back to government policies. From rising inflation, increased taxes, high interest rates to sluggish economic growth, the government's handling of key issues has had a significant impact on both the economy and investor sentiment. While there were some bright spots, the year’s overall performance leaves much to be desired for Canadian consumers and businesses alike.

We constantly hear the same thing over and over again – Canadians are struggling financially. They’re spending too much, saving too little and are in way over their heads in debt. We’re often encouraged to work with a Financial Advisor or Financial Planner who can help navigate all these twists and turns and provide us with the knowledge and understanding that we need. However, the challenge comes in when far too many of these professionals focus on products and sales, as opposed to providing real solutions to these problems.

Having a successful business in Canada can sometimes be a double-edged sword. On one hand, revenues, incomes and retained capital are high or significant, but on the other hand, being able to access that capital can be challenging, especially from a tax perspective. While many business owners my decide to invest some of that excess capital into investments such as stocks, bonds, mutual funds or real estate, any growth or distributions are taxed fairly heavily and can even erode the small business deduction. The situation becomes even more complex when looking for a tax-efficient way to get the excess capital that’s retained in the corporation, into the hands of your estate

Starting a new business venture can be both exciting and nerve-racking at the same time. The hope and dreams of success, financial freedom and being your own boss is accompanied by big uncertainties and risks. To add to some of the anxiety, comes the facts: about half of all new businesses will not be around within the next 5, and only about one third will survive 10+ years. The situation often becomes more complex when there are multiple owners and the future success of a business is at risk if proper planning is not done. The unexpected ‘exit’ of a partner due to death, disability, illness or just simply that ‘it’s not working out’ can create a very difficult situation for the remaining business owner(s) and the business itself.

In today’s market, people often look at different ways to diversify their investment portfolio. Specifically, since the market crash in 2008, a lot of investors have been unsure or scared to get (back) in to the markets, and have been looking at alternatives. Real Estate investing has become more and more popular, especially over the last decade, and it doesn’t seem like that trend will slow down any time soon. When most people think about Real Estate investing, they will generally think ‘investment/rental properties’, and although that is a great investment, there are other options.

In a properly designed financial plan, one of the most important areas of discussion is that of “Protection”, by way of Insurance. However, for one reason or another (usually because people don’t like to talk about it or feel they don’t need it), that area of the financial plan often gets overlooked or isn’t designed properly. Protecting your and your family’s lifestyle and standard of living is a very critical component in planning both while you’re alive, and when you’ve passed on. The importance of insurance needs to be addressed and its components need to be understood.

In this post on Insurance Planning, we will focus on the second of the ‘Living Benefits’ - Disability Insurance protection. Continuing from the last post on Critical Illness, this post will illustrate the importance of protecting your ability to earn an income, through Disability Insurance. Disability Insurance is generally the most underserved and undersold part of the Insurance Industry, as a) many Advisors are not having the conversation with their clients and b) many clients don’t realize the importance of protecting their ability to earn an income. However, the numbers state that the probability of injury or disability before age 65 is much higher than getting critical illness or death before age 65.

Big changes are coming to the mortgage landscape, and it may just be what you're looking for!

Starting November 21st, the Office of the Superintendent of Financial Institutions (OSFI) is eliminating the Stress Test for uninsured mortgage switches.

In this Insurance Planning post, we will go over the first of the ‘Living Benefits’ topics, which is Critical Illness protection (the second being Disability Insurance, which will be in another post). People often think that Insurance Planning is only about Life Insurance – in other words, planning for death – but it encompasses a lot more than just that.

When it comes to charitable giving, most people think of simply just writing a cheque. But what if you could do more with your donation? If you’ve been giving money annually, or considering giving annually, you might be surprised to learn that using life insurance could significantly enhance your philanthropic impact.

In Canada, incorporating life insurance into legacy planning can offer several tax benefits, particularly when the policy is designated to benefit a charitable organization. Many Canadians have Life Insurance policies that they may not need anymore, or are considering getting for the purposes of donating/gifting to a charitable organization. There are multiple ways that Life Insurance policies can be used for philanthropic purposes, each with their pros and cons, and also multiple ways that tax advantages can be had by using these strategies.

A Donor Advised Fund (DAF) in Canada is a charitable giving vehicle that allows individuals to make contributions to a fund managed by a public foundation, which then provides grants to various charities on the donor's behalf. Donors receive an immediate tax deduction when they contribute to the DAF, but they can direct how and when their funds are distributed to charitable organizations over time.

In the realm of personal finance, investments and insurance are often viewed through the lens of security and growth. However, they also present powerful opportunities for Canadians to make a meaningful impact through philanthropy and charitable giving.

Planning for retirement is a cornerstone of financial security, especially in Canada where individuals are increasingly looking for reliable ways to safeguard their future. Among the tools available, Individual Pension Plans (IPPs) stand out as a powerful strategy for business owners and incorporated professionals to enhance retirement savings while enjoying significant tax advantages.

Facing unexpected financial emergencies? An emergency fund acts as your financial safety net, ensuring peace of mind without dipping into savings or incurring debt. Start small, build steadily.

As a financial advisor, my primary goal is to help you achieve financial clarity by accessing a network of dedicated professionals. Together, we provide personalized advice and services to help you make informed decisions and secure your future. Think of me as your financial coordinator, ensuring every aspect of your financial life works smoothly.

By working hard and carefully managing your money, you've set yourself up to be able to relax and enjoy yourself during your retirement years. You also need to think beyond your retirement years about what you want to do with your assets during estate planning.

Explore the upcoming 2024 Canadian tax changes affecting investors, business owners, and high-net-worth individuals. From capital gains adjustments to new incentives, stay informed with our comprehensive checklist.

On April 16, 2024, Canada's Deputy Prime Minister and Finance Minister, Chrystia Freeland, presented the federal budget.While there are no changes to federal personal or corporate tax rates, the budget introduces…

Unlock the secrets to maximizing your 2023 tax returns with our essential guide. From the new Advanced Canada Workers Benefit to crucial deductions for families, ensure you're not leaving money on the table this tax season.