Financial Library

Your Legacy Plan and Charitable Giving

Posted on: October 7, 2024

Tags:

Recently, a client wanted to leave all their money to two charities through their Will. They wanted to leave a legacy to a few charities, and they didn't have any close family members.

Here is her situation: Age 80, $550,000 in savings (75% non-registered and TFSA), with income of $70,000 annually from pensions and RRIFs. She was also spending an additional $20,000 a year from savings to support her lifestyle.

Read more about Your Legacy Plan and Charitable Giving

Why Time Matters

Posted on: September 9, 2024

Tags:

GICs

investment

investment planning

It is not uncommon for an individual or organization, such as a charity or community tennis club, to consult a financial advisor regarding investment returns that can be generated on some spare cash that is not needed in the immediate future.

Read more about Why Time Matters

But I'm Invincible

Posted on: September 9, 2024

Tags:

insurance planning

Most people have a false sense of security by believing that they will not be victims of a critical illness like cancer, heart attack or stroke; and if they are, that the healthcare system will look after them. Nothing could be further from the truth.

Read more about But I'm Invincible

Passing it on to Your Heirs

Posted on: September 9, 2024

Tags:

estate planning

Ralph and Mary have accumulated a nice estate, a good portion of it in cash. They want to leave it all to their children when they die, but they also want to do something for them today. Being part of the Savings Generation, they are reluctant to give large sums to their kids today, as they are part of the Spending Generation. Ralph and Mary also want to treat their children as fairly as possible.

When someone dies, their estate falls into three basic categories:

Read more about Passing it on to Your Heirs

Education Savings: Start Early

Posted on: August 12, 2024

Tags:

education planning

A new baby in the family brings many hopes, dreams and expectations. This can often include thoughts about how their lives can be better than that of their parents. And that often includes hopes about careers and the education that goes with them. It is also the time to start planning how to finance the education needed to fulfill those hopes and dreams.