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TFSAs: Flexible Wealth Building Strategy

Posted on: December 12, 2011

The Tax-Free Savings Account (TFSA) was introduced in the February 2008 Federal Budget and became available January 1, 2009. It is touted by the Government of Canada as 'the single most important personal savings vehicle since the introduction of the Registered Retirement Savings Plan (RRSP).'

Tags: 
wealth management

RDSP offers a bonus

Posted on: September 2, 2011

Starting in 2011, the registered disabled savings plan (RDSP), which is open to Canadians who qualify for the disability tax credit, offers a tremendous bonus to those who are eligible.

The RDSP is a savings plan that you contribute to after-tax, with earnings and growth accumulating tax-deferred. The maximum amount that you can invest is up to $200,000. Contributions can be taken out tax-free, with the growth and other funds when withdrawn being reckoned as part of your income for tax purposes.

Tags: 
disability

Beware of these scams aimed at seniors

Posted on: November 8, 2010

According to recent news reports, seniors in Canada get bilked out of as much as $300 million every year. It is estimated that as many as one in five seniors have lost money to fraudsters and most don't report it.

Tags: 
fraud protection

Beware How You Help Your Kids Financially

Posted on: August 8, 2010

A recent TD Canada Trust survey found that 10% of Canadians are considering the purchase of a condominium for their adult children. This is up from 5% just a year earlier and certainly reflects drastically increasing housing costs over the past decade.

Tags: 
financial strategies

Investing in Your Child's Future

Posted on: July 8, 2010

College and university are more important than ever before.

Generally, two out of every three new jobs require some form of post-secondary education. According to the 2006 Census, Canadians with a university degree earned an average annual salary of $56,048 compared to $37,403 for Canadians with a high school diploma.

Yet the cost of a post-secondary education keeps growing.

Tags: 
education planning

Traveling in Retirement

Posted on: July 8, 2010

One of the top retirement goals for many is travel. As many as 1.5 million so called 'snowbirds' travel to the Southern United States during the winter. With summer just around the corner, thoughts turn to travel within our borders, too. The Canada Safety Council states that a few simple precautions can help ensure a safe, healthy and enjoyable trip any time of the year.

Tags: 
retirement planning

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