Few conversations feel as awkward as talking to your aging parents about money. Many of us put it off, worried about overstepping or implying that our parents can no longer manage on their own. Yet learning how to talk to aging parents about money — early and gently — is one of the kindest things […]
The main difference between an RRSP and a TFSA is when you get the tax break. With an RRSP, your contributions will reduce your taxable income today. You pay tax later, upon withdrawal. With a TFSA, you contribute with after-tax dollars, but every dollar that grows inside it (and every dollar you take out) is completely tax-free.
The RRSP vs. TFSA Question You’re Probably Getting Wrong Read More »
As business owners approach their exit, they are confronted with several questions: When do I want to exit? How much do I need from my …
According to CFIB’s 2023 report, over 76% of small business owners are planning to exit their business in the next decade. This means a transfer of ownership of over $2 trillion in business assets in the next ten years. So, how do you make sure you’re in control of when and for how much you
Succession Plan vs Exit Plan – Which One Do You Need? Read More »
Before you can decide what\’s the best choice for you (and your spouse or partner, if you have one), you need to assess what the CPP changes really mean in terms of the CPP benefit you can receive. Keep in mind that changes are being phased in – all changes will be fully effective by
Most of us don’t need science to tell us that giving makes you feel great, but new research has proven when individuals give money to charities, they get a boost in happiness. On the other hand, the same research shows those who spend on themselves get no such cheery lift. But there is much more
What are your goals? What does success mean to you? Where do you want to be in 10 years? 20 years? 30 years? What do you want to do in retirement? Most likely you can answer these questions easily, but at the same time your answers are probably fairly personal and differ from others around you.
If you don’t know what TFSA stands for or you don’t have one set-up than you definitely need to keep reading. In 2009 the government created a great investment option for Canadians through the creation of Tax Free Savings Accounts. TFSA’s are a simple and incredibly beneficial option, but somehow many Canadians still know very
Owning a business takes guts, tenacity and vision. It’s not something for everybody but for those of us who have the passion and drive for it have realized there are great benefits that off-set the challenges. As a business owner myself, I understand the unique situations you face everyday and I also know your money
Business owners spend great amounts of time and energy building their companies, and it is only natural to want to see their children follow in their footsteps and take over the company. However, many family business owners struggle with how to integrate their children into the business. It becomes even more challenging when you consider