Watch out for the windfall syndrome
A sum of money lands in your lap, perhaps a tax refund or an inheritance, and you’re overcome with the urge to splurge on lavish purchases. That’s the windfall syndrome – if it’s not from your regular paycheque, it’s free money. In fact, you may experience this very temptation just around now if you’ve already […]
Quick, name your most valuable asset
Did you name your house? Your Registered Retirement Savings Plan (RRSP)? An investment account? Your most valuable asset is arguably what funds everything else – your income. It stands to reason, therefore, that your income should be protected. That’s where disability insurance enters the picture. In fact, disability insurance is often referred to as income […]
Couples without children approach financial planning differently
When you think of the messaging and imagery in financial media stories and advertising, do you ever get the impression that financial planning is mainly for a couple with three kids, a new SUV and a dog? Yet the latest census tells us the so-called traditional family is no longer Canada’s most common household – […]
RRSP versus TFSA: Did you ever have to make up your mind?
If you make your maximum allowable contributions each year to your Registered Retirement Savings Plan (RRSP) and Tax-Free Savings Account (TFSA), you won’t face the often difficult RRSP versus TFSA decision. But many families have one or more members who must decide which vehicle is best for their available investment dollars – quite often a […]
Want to see into the future?
Want to see into the future? Say that a couple is struggling with a decision about whether to help their child purchase a home. The couple wonders, and worries, if the cash outlay will interfere with their retirement. We often help with this type of financial planning situation – when you must look to the […]