Wealth transfer: Preparing the next generation

Intergenerational wealth, on our TV screens at least, conjures images of Succession’s Logan Roy dismissing one of his weasel kids with a sneer and expletive. Roy, the fearsome patriarch, who built his business from nothing, watches in disgust as the heirs to his throne – who do no work of any note - connive and backstab in an effort to win the keys to more money and power.

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Managing money in a rising interest-rate environment

Canada’s benchmark interest rate hit an all-time high of 16% in 1991 – and here investors are in 2022, freaking out over projections it’ll touch 1% by June. But there’s a reason for the current unease. Despite rate increases being forecast the minute governments and central banks opened the floodgates on trillions of dollars of stimulus, things have now “got real”.

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Should I stay, or should I go?

Between the pandemic, inflation, and geopolitical tensions, market uncertainty reigns right now. You might have heard some disturbing words, like shares “plunging”, prices “soaring”, and investment “volatility”. Many people, therefore, are asking themselves: should I take money out of the market and get back in when skies are clearer?

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Keep Time on Your Side

Being invested can be one of the best ways to grow wealth over the longer term. Yet, after an extended period of gains, some investors may feel hesitant to put money to work in equity markets. While volatility was muted for most of 2021, let’s not forget that it is a normal part of equity markets. It is the price paid for the upside potential.

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The Timeless Wisdom of Warren Buffett

We may all benefit from some investing perspective as we experience increased volatility and rapid decreases across most equity markets. Who better to draw on for that wisdom than one of the most successful investors of our time, Warren Buffett. Many of Buffett’s messages are timeless. In fact, a more recent academic study analyzed years of Buffett’s shareholder meetings, which have attracted tens of thousands of investors from around the world, and confirmed that the Oracle of Omaha’s key messages has recurring themes.

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Avoid These Five RRSP Pitfalls

It is Registered Retirement Savings Plan (RRSP) season once again! Beyond the importance of contributing to the RRSP to grow funds for retirement, avoiding certain practices can also help to save tax or create a bigger nest egg for the future. 

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RRSP Season Reminders

Contribute — The deadline RRSP contributions for the 2021 tax year is Tuesday March 1, 2022. Contributions are limited to 18 percent of the previous year’s earned income, to a maximum of $27,830 for the 2021 tax year. Consider an automatic monthly contribution plan to avoid missing the deadline. 

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TFSA: Do You Have Unused Contribution Room?

The 2022 TFSA dollar limit is $6,000. This brings the total lifetime contribution limit to $81,500 for those eligible.  

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Be Aware: Use the TFSA for Longer-Term Investing  

Perhaps as a result of a confluence of factors — buoyant markets, social media influence and today’s ease of investing  — we have been receiving more questions about young investors who want to open up a Tax-Free Savings Account (TFSA) for investing purposes.  

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Inflation: How Has Purchasing Power Changed?

Estate planning often involves preparing for what happens after death. Yet, consider that giving while living can also play a complementary role within an estate plan. While the obvious personal benefit is the satisfaction of seeing your gift at work, consider that there may be other benefits, including financial ones, from giving while alive: 

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Estate Planning: The Benefits of Giving While Alive

Estate planning often involves preparing for what happens after death. Yet, consider that giving while living can also play a complementary role within an estate plan. While the obvious personal benefit is the satisfaction of seeing your gift at work, consider that there may be other benefits, including financial ones, from giving while alive: 

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Supporting the Cost of Higher Education: Tapping the RESP

With the return of autumn, many families have turned their attention to school. If (grand)children are off to pursue post-secondary education, the rising cost of higher education may be top of mind. As investors, we have the opportunity to assist (grand)children with education at all levels. For starters, we can provide advice about money, teaching the fundamentals of saving, investing, and taxes. We may also choose to put aside financial resources to support the cost. 

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The Season of Giving: “Doing Good” and Benefitting Your Taxes

Many of us wish to support charities that are important to us. In “doing good,” it can also work to your benefit in the form of a tax credit. Here are just a handful of options...

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Investing & the Art of Patience

It may be easy to overlook the importance of patience in investing. Instant gratification has become a way of life. We’ve been conditioned to expect instantaneous results through influences like on-demand television and one-click shopping. Many of us aren’t willing to wait more than two seconds for a website to load.

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Afraid You’ll Outlive Your Funds? The Four Percent Rule Revisited

How much can I spend in retirement so that I don’t outlast my money? This is one of the more common questions we hear as we help clients to plan ahead. 

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Retire Up to 30 Percent Wealthier: Why Not More? 

You may have heard an oft-repeated advertisement in the media today that suggests that by reducing investment management fees, you have the potential to retire up to 30 percent wealthier. While few would choose to forego this amount down the road, it may be worthwhile to take a deeper look at these claims. 

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