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Important CPP Changes Coming

Thursday, March 4th, 2010

Proposed changes to the Canada Pension Plan (CPP) may affect your decision on when to retire and begin drawing benefits.

The changes, to be phased in starting in 2011, would mean higher payouts for those who wait beyond age 65 and less for those who collect earlier. (more…)

Tags: Retirement Planning
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How Long Will It Take To Double Your Money?

Thursday, March 4th, 2010

If you’ve ever wondered if you are in a position to actually grow your money, there’s a simple test. Take the number “72” and divide it by the rate of return you’re getting. For example, if the interest rate is 2%, then the number of years it would take to double your money is 72 ÷ 2, or 36.

The “Rule of 72” is a simple formula that can yield powerful insights. (more…)

Tags: Investments
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Getting Your Tax Refund Up-Front

Thursday, March 4th, 2010

When you get a tax refund, it means you have given Ottawa an interest-free loan of funds you could have used last year to reduce debt or boost your investments.

The good news is that if you think you’ll be in line for a refund, you don’t have to wait. Your district tax office can authorize your employer to deduct less tax from your pay, to reflect deductions that typically trigger a tax refund — things like RRSP contributions, charitable donations, deductible support payments, and childcare expenses.

You might also qualify if you will be making a large RRSP contribution or “catch-up” contribution early in the year, or if you expect to have significant carrying charges, rental losses, or legal expenses incurred to collect child support and/or allowable business investment losses.

If you’d like to make this request, you may contact me via phone or e-mail for the necessary T-1213 tax form.

Tags: Tax Planning
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Over 50% of Canadians lack wealth building skills

Tuesday, November 3rd, 2009

As uncertainty about economic recovery lingers, a new survey reveals that 52% of Canadians are not comfortable with their current financial situation and 53% feel insufficient knowledge about investing is their top wealth-building barrier. The survey, released by real estate and investing training services firm Tigrent Inc., examined over 3,000 British, American and Canadian attitudes, definitions and self-limiting beliefs towards financial freedom and reinvention. It was conducted for Tigrent by Opinion Research Corp. from October 19 to 21.

Read the rest at Investment Executive

Tags: financial literacy, Investments, Wealth management
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