George Tey
B.Sc., MBA, CFP®
B.Sc., MBA, CFP®
The incoming generation of investors will be younger and much more diverse, with women now partaking of an increasingly prominent role in building and growing family and personal wealth. This includes millennial women, single mothers, and entrepreneurial women owning or …
You don't need to be rich or famous to get involved—everyone can! For example, for just dollars a day you can help feed a child through World Vision. Talk to your advisor about the tax benefits of charitable donations.
Understand your risk tolerance Each of us has a personal level of risk tolerance which indicates how much risk one is willing to take while investing in markets that always go up and down. Your advisor can help you establish your own unique governing guideline.
When establishing a financial strategy involving other stakeholders, such as paying down a mortgage, develop a written plan that all parties agree on. You can create written point-form agreements for each to sign in areas of investing, registered vehicle planning, debt repayment, etc.
Between the late-1970s and the mid-1990s, the most significant generation in the Canadian workforce referred to as millennials (or Generation Y) was born. As the largest generation by population size in North America, by 2025, three out of every four …
It is important to plan the most efficient manner of leaving hard-earned assets to heirs. Try to attend to these concepts to maximize your legacy. Keep your testamentary trust (your will) updated. Without an updated will, deceased heirs may be …
The Canada Pension Plan (CPP) provides contributors and their families with partial replacement of earnings in the case of retirement, disability or death. Almost all individuals who work in Canada outside Quebec contribute to the CPP. Calculating your CPP while …
A spousal RRSP account in your name belongs to you. By contributing to your account, a tax deduction can be claimed by the contributor minimising income tax payable currently.
Facts about an RESP A Registered Education Savings Plan (RESP) is a savings plan registered with the government that can help you save for your child’s post-secondary education. Money invested in an RESP grows tax-deferred. The government helps contribute to …
In Canada, the government allows a welcome tax break when you save for your child's education. As parents, we need to consider the effect that education will have on the future income and lifestyle of our children.
Every year we publish legislative and current updates to the Registered Retirement Savings Plan (RRSP) and Pooled Registered Pension Plan (PRPP) and Specified Pension Plan (SPP).
Anxiety over inadequate retirement funds is a stress needling many who are approaching the period of not working — meaning retiring and reliant upon saved monies to supply a monthly cash flow. It’s not checking off the bucket list that …
You may want to include multi-generational strategies to include estate plans and long-term provisional care with your senior family members who may depend on tax planning ahead of time. Family Capital-Transfer Strategy Seniors may be able to transfer capital to …
The individual should include some form of disability coverage to replace his or her income.
In the event of the death of the insured, life insurance is designed to create capital. It provides a precautionary measure in a financial plan to stabilize the financial security of loved ones reliant on your income or your capital provision. If you have a spouse or children, make sure you have adequate life insurance coverage.
The widow population over the age of 65 is one of the fastest growing demographics facing poverty! Senior widows outnumber widowers four to one and represent about 45% of all women aged 65 and over.
Newsletter tags
