Imagine if an estate executor (or personal representative, liquidator or estate trustee, depending on the province) was about to administer an estate, only having the will. They would have a tough time searching for contact people, important documents and hidden information. That’s why it’s important to develop an estate directory including everything your executor needs.
A Registered Education Savings Plan (RESP) has three important phases where the asset allocation between equities, fixed income and cash equivalents is critically important.
Thinking of helping your child purchase a home? Imagine searching for your first home in today’s market. Real estate prices continue to soar. Mortgage regulations are stricter. The cost of living is only increasing. It’s a financial challenge. If you’re the parent of a want-to-be homeowner, you may wonder about helping out with the down
Filing taxes? Remember pandemic support payments are taxable income As you pull together all the usual slips and information to prepare for the tax filing season, don’t forget about the potential impact of the government’s pandemic support programs. The most important thing to know is that income from all Government of Canada’s pandemic support programs
Keep performance in perspective, especially after a major market event If you pay close attention to your mutual funds’ performance, the past 12 months may have put up some wonky numbers. That’s because the crash of 2020 and the quick recovery could mean wild swings in short-term performance periods like 1-month, 6-month, or 1-year returns.
The right funds for down payment savings, real estate profits Canada’s hyper hot housing market means lots of Canadians are parking savings on both sides of a housing transaction: many younger people are saving for a down payment and some sellers need to bank their profits while they downsize, move to another town or rent
T-series funds: part of a tax-efficient retirement income strategy Once you’ve retired, your financial focus becomes making the most of your retirement savings – and that means paying as little tax as possible. Mutual fund investors have a unique tool available to them: T-series mutual funds. Part of your plan Fortunately, there are several things
Looking for more after-tax retirement income? Consider these strategies Once you’ve retired, your financial focus becomes making the most of your retirement savings – and that means paying as little tax as possible. Fortunately, there are things you can do to structure your income flow in a way that maximizes your after-tax income. Consider the
Think twice before naming a friend or family member as your executor Research has shown that most Canadians name a family member or friend in their will as executor of their estate. While this may seem like a natural choice, it may not always be the best one. Your executor is personally responsible for your
FUND TIME – Tips and lessons in mutual fund investing Fixed-income maturity What is it? The maturity of a fixed-income security, such as a bond, is simply the date on which the investment ends or “matures.” For example, a 10-year bond ends at the 10-year mark, meaning any interest payments end and the amount of