RRSP TFSA Strategy Canada: How to Use Each Account to Pay Less Tax
RRSP, TFSA, or Non-Registered? How to Use Each Account to Pay Less Tax Over a Lifetime Most Canadian DIY investors are familiar with their account options. They have an RRSP, a TFSA, maybe a non-registered account, and they contribute to all three when they can. What tends to be less clear is how these accounts […]
DIY Retirement Planning in Canada: Are You on Track?
DIY retirement planning Canada-wide is the same basic puzzle… but the pieces look different for everyone. One of the questions I hear most often in first conversations with prospective clients is some version of this: “We’ve been saving for years, but we honestly have no idea if we’re on track. How do we know […]
Why Most Financial Plans Fail to Spark Excitement: 3 Common Mistakes
Why Most Financial Plans Fail to Spark Excitement: 3 Common Mistakes The difference between having a plan and planning your life I have a confession: My financial planning software is boring. And if you and I only use it to see if you’ll run out of money, we’ve both failed. Over the years working with […]
Fee-Only vs Advice-Only vs Fee-Based vs Commission-Based Financial Advisors in Canada
Fee only? Advice only? Fee Based? How Do I Choose a Financial Advisor in Canada? There are plenty of options for financial advice, but which one is the best fit for you? Let’s break down the different types of financial advisors in Canada, how they’re compensated, and how to find the right match for your […]
Financial Planning Advice for Young Adults and Recent Graduates
Practical financial planning advice for recent graduates who want to build a strong foundation while enjoying life in their twenties Introduction Stepping into adult life is never simple, but today’s young adults are facing a particularly steep climb. In Atlantic Canada, university graduates are entering a world of high housing costs, uncertain job markets, and […]
5 Estate Planning Mistakes Even Smart Investors Make
Estate planning isn’t just for the ultra-rich. And it’s not something you want to get wrong. For DIY investors, be mindful of these common will-related mistakes. I’ve had a few client conversations lately that reminded me of something I see often: many DIY investors who are confident managing their portfolios still leave major gaps […]
Retirement Savings. How Much Do You Really Need in Canada? The Case for Personalized Financial Advice
Retirement Planning in Canada “The financial services industry in…Atlantic Canada, is broken and in desperate need of fixing. ” — David Martin, Eltero Financial Partners Retirement planning is one of the most important financial decisions Canadians face. Yet, all too often, advice on the subject is boiled down to generalizations: “You need $1 million […]
Goal Setting: Don’t Think Perfection, Think Intention
Goal Setting: The “Why” Will Direct the “What” and “How” One of the biggest ironies when it comes to goal setting for financial planning is that most people do not set goals because they have a fear of failure, yet studies show that people who simply write down their goals are more likely to achieve […]
Why Budgets and Budgeting Don’t Work
Budgets Don’t Work! Rethinking Budgeting: The Cash Flow Approach When I first started in the financial business, we were taught that helping clients determine their budget was beneficial to them reaching their financial goals. I’ve seen firsthand the cringe that the word “budget” can elicit. It’s like the word “diet”—immediately, one imagines restrictions, limitations, and […]
Should You DIY Your Financial Planning?
My TED Talk on DIY Financial Planning Can a DIY Investor Really do Proper Financial Planning? I was recently asked to speak on whether I thought a person could create an effective Do-It-Yourself (DIY) financial plan or is it necessary to hire a professional to help in this important area of their lives. I welcomed […]