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Financial Library

Registered Retirement Income Funds

Posted on: October 7, 2019

It is required by the Income Tax Act that a Registered Retirement Savings Plan (RRSP) must be closed by the end of the year in which the planholder (annuitant) reaches age 71. At that time, the annuitant must decide what to do with their retirement savings. They have three options - cash in the RRSP, buy an annuity, or convert to a Registered Retirement Income Fund (RRIF).

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retirement planning

How Inflation Affects Your Financial Strategy

Posted on: September 9, 2019

If you were going to recommend a treatment plan for a loved one suffering with alcoholism, would you prescribe more alcohol as the best course of action to help them to recover or otherwise improve? Now put this question aside for the moment.

Let us look at the personal situation of the average Canadian these days and make some observations about what their circumstances look like as they go about their daily activities in life, work, & family. Then we will tie these real-life situations together with the riddle.

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financial strategy

Tax Planning Tips for the Self-Employed

Posted on: September 9, 2019

If you are a solo entrepreneur or are otherwise self-employed, you are aware that it is nearly impossible to take into account all the various tax consequences of your business decisions. You have a business to run and customers to please, so decisions are often made on the fly.

You hope that you will be able to sort it out adequately at a later date. The problem with this strategy is you are likely paying thousands of dollars in taxes to Revenue Canada that could otherwise be in your pocket.

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business planning

NIRP, ZIRP and You

Posted on: August 12, 2019

In his early July testimony before Congress, US Federal Reserve Chairman Jay Powell. Mr. Powell stated that the Fed funds rate will be reduced, given lower than expected U.S. inflation. This follows on the heels of President Trump’s demands for lower interest rates to help support the economy and more specifically the US stock market. As anticipated, in late July the US Federal Reserve lowered interest rates for the first time in over ten years but at the same time signaled that there was no certainty that further rate cuts would occur during 2019 or beyond.

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investment
investment planning

Finding the Right Retirement Location

Posted on: August 12, 2019

Grant and Sarah are planning on retiring within the next two years. Paul and Linda, already retired, are thinking about making a move. Whether you are about to retire or are already retired and considering a change, you should consider:

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retirement planning

Law of Large Numbers

Posted on: July 8, 2019

Over the next several years, governments in advanced countries will likely continue to struggle with mounting debt burdens and the associated rising costs of servicing that debt. It is also noteworthy to remember that total government debt continues to increase every year because of deficit spending.

So how does the Law of Large Numbers apply here? Simply put, at some point the whole debt situation could defy the ability of a government to control a national economy and the response to ever increasing debt burden costs. Here is a definition from Investopedia:

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investment planning

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