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 […]
Should You Commute Your Pension or Take Monthly Income?
Wondering if you should commute your defined benefit pension or take the monthly payout? Learn how two retirees made very different choices and what factors might matter most in your decision. If you’ve recently left a job with a defined benefit (DB) pension plan, you may be facing one of the biggest financial decisions of […]
How Much Will CPP and OAS Really Cover in Retirement?
What Canadians Need to Know About Government Benefits, Breakeven Ages, and Balancing Security with Flexibility Government Benefits: A Reliable Foundation, Not the Full Plan A common question clients ask me is, “How much will CPP and OAS cover in my retirement?” It’s a fair question. After contributing for decades, many expect these programs to fund […]
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 […]
3 Biases That Affect Financial Planning and How to Outsmart Them
“Effective financial planning is 90% mental. The other half is about money.” — David Martin, Eltero Financial Partners Ok. So, I might have stolen and paraphrased Yogi Berra’s famous quote about baseball being 90% mental with the other half being physical. The math might not add up but there’s a lot more correct about this […]
Embracing Summer: A Time for Relaxation and Financial Reflection
Financial Planning Reflection Summer Presents a Perfect Time to Review Your Financial Planning Progress Who doesn’t love summer? Parks and beaches are full. Cold weather scowls are replaced by warm weather smiles. Flowers have bloomed. Restaurants are busy. The commuter traffic has been replaced with tourist traffic. As the warmth of summer begins to embrace […]
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 […]