Celebrating 25 Years of Experience

2018 marks a big milestone for me. I am proud to say that I am celebrating 25 years as a financial advisor. I would like to take some time to celebrate my journey and one way to commemorate is to share 25 financial tips with you throughout the year. Each month I will share a few tips. Please share with your family and friends. Bruce

Tip 1

It's the beginning of a new year and we encourage a review of your investments. Regular reviews of your investments, estate plans, and retirement goals, along with expert coaching from an experienced advisor, can help keep you in top financial shape.

Tip 2

RRSPs are a key investment tool in your financial plan. Please read 10 Ways to Grow Your RRSP for some important strategies.

Tip 3

The stage of life you are in now affects your financial planning strategies. Starting out, building for the future or planning for change? This infographic provides a good roadmap. Planning Your Financial Future.

Tip 4

Estate planning is an essential part of your financial plan, as much as retirement is. If you don’t know how to get started read our eBook. Expert Estate Planning: Leaving a Lasting Legacy.

Tip 5

TFSA benefits from tax-free growth
RRSP benefits from tax-deferred growth
Saving for the future often involves using both TFSA and RRSP accounts. They can offer tax advantages to help you save for your long and short-term goals. Learn more RRSP & TFSA and your financial goals.

Tip 6

Money Dates 2018 provides a listing of important deadlines pertaining to Income Tax Returns, Registered Plans, and payment dates for G.S.T. Credits, CPP/OAS Benefits, and Canada Child Benefits.

Tip 7

Only an Advisor who takes the time to know you, learn your story, understand your motivations, fears, goals, ambitions, and challenges can help you put in place a financial plan that works for you.

Tip 8

As seniors live into their 80s or longer, their middle-aged children must now become their main caregivers and provide them with appropriate housing, and financial and emotional support. Working with your advisor and discussing the needs of your family can help you take control of costs and challenges as your elderly relatives age. It will help give you peace of mind knowing you are prepared for the day when you have to step into the caretaker role.

Tip 8

Good financial habits - those that make us feel financially well - can also help to improve our physical and emotional health. The most effective solution to financial stress is to create a comprehensive financial plan with guidance from your advisor. A financial plan can help you stop worrying and get back to living.

Tip 9

Regardless of gender, a good financial plan is one that is unique to you and your goals. There are added factors that make certain planning elements more critical to women and they require careful consideration and planning. Download this E-Book to find out if you’re asking the right questions and working with the right advisor.

Tip 10

Most Canadians put a tremendous amount of effort into building successful careers, but many do not put as much thought into planning what they will do when they stop working. Work with your financial advisor to determine how much you will need when you retire and what factors will affect your retirement income plans.

Tip 11

Have you experienced any major life changes recently? These changes can impact your long -term financial wellness. Now may be a good time to revisit your insurance needs. Work with your advisor to be sure that your insurance is meeting your current stage in life.

Tip 12

Saving for both short-term and long-term goals can be accomplished with the right advice. How do you save for short-term goals like an emergency, vacations, a new car or new appliances? Start by setting goals, prioritizing and assigning financial assets to those goals. You should also set a timeline for achieving them. Estimate how much you’ll need to save, review your current budget and try to set up an automatic savings program that takes funds from your pay cheque and transfers to your savings account. Keep in mind that you may have to put off some of your goals if your current budget doesn’t match your timeline. Once you reach one of your short-term goals you can re-allocate those monthly contributions to another goal.

Tip 13

Understanding how you spend money is important when considering your short and long-term goals. For example, if you know you enjoy spending money spontaneously, build this into your monthly budget. When it is unplanned for, it can add up over time and hurt other long-term goals such as retirement or the purchase of a home.

Tip 14

Tip 15

Students starting university or college this September need to keep in mind that the key to financial success is being aware of how you are spending your money. We will work with you to create a monthly budget that can help you gain insight about the way you spend money.

Tip 16

With plenty of priorities competing for our attention, money matters can sometimes be pushed to the back of the shelf. But, just like an annual decluttering at home, getting our financial house in order can make a big difference to daily life.

Tip 17

Estate Planning is Crucial in Today’s World. Have you discussed with loved ones what your thoughts are regarding your assets and your debts after you have gone? Even if your assets are relatively modest, it is important to have a plan in place. We can sit down with you and your family to discuss your plans.

Tip 18

A recent survey by the Financial Planning Standards Council revealed that 65% of respondents say they have not engaged the services of a professional financial planner. Of the respondents 50% say they feel their portfolio is too small to engage a planner. Other reasons for not seeking help include: not knowing who to trust (22%); engaging a planner is to confusing and overwhelming (20%); and embarrassment with their financial situation (19%). I am happy to meet with you to discuss how I can help regardless of the life stage you are in.

Tip 19

All Advisors Are Not Created Equal! Visit our website and review Our Process for working with you to create a roadmap to your financial goals.

Tip 18

We are entering the most philanthropic season of the year, with many people focused on holiday and end-of-year giving. When considering making a significant philanthropic gift, weigh whether an endowment will help achieve your goals. If it appears to be the appropriate avenue, we recommend you speak to your professional advisors and examine all the options. After all, you will be building a gift to last for generations to come.

Tip 19

The holiday season is upon us. With a little planning and creativity, it’s possible to get through the holidays and avoid debt or over-spending. Your expectations about what you can afford should be realistic. Mental preparation is an essential part of the holiday season. The key is organizing yourself and staying on top of your expenses.

Call or email us to schedule a review today. We are your Financial Partner.