As RRSP season approaches, we have curated a few articles and tools to help guide conversations with your clients to help them make informed financial decisions. The client article, “Navigating the RRSP Season: Your Essential Resources,” highlights three key resources: an RRSP calculator to maximize contributions, a video comparing RRSPs and TFSAs, and another video discussing segregated funds as a secure investment option.

These resources can help your clients understand how to boost their savings and make strategic decisions for their financial future. Empower your clients with the knowledge they need to succeed this RRSP season! Continue reading “Empowering Your Clients This RRSP Season” →

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Navigating the RRSP Season: Your Essential Resources

When your clients are considering an RRSP withdrawal, it’s important that they know their financial institution withholds taxes for all cash withdrawals from RRSPs, and that any remaining income tax will be payable at the end of the tax year.

The RRSP Withholding Taxes Calculator will help estimate both of these amounts based on where your clients live, their taxable income, and the amount withdrawn, and to request the right cash withdrawal amount to achieve their financial goals. Continue reading “RRSP Withholding Taxes Calculator” →

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RRSP Withholding Taxes Calculator

With the increase in the capital gains inclusion rate from 1/2 to 2/3 effective June 25, 2024, passive investment income could be higher in your client’s corporation. Now is the time to revisit the potential reduction to your client’s small business deduction. Continue reading “Time to Revisit the Passive Investment Rules” →

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The Passive Investment Income Rules: Understanding the Impact on Your Business

New Year celebrations have come and gone, but don’t worry, it’s not too late for your client to make an RRSP contribution for 2023. The Income Tax Act allows an RRSP contribution that is made within the first 60 days of the following year to be used either in the year of contribution or in the year prior. So, if your client makes an RRSP contribution by February 29, 2024, the contribution can still be used as a deduction from their 2023 income. Definitely some good news to share with your clients! Continue reading “The 2023 RRSP Contribution Deadline” →

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It’s Not Too Late To Make an RRSP Contribution for 2023!

Every dollar counts when your clients are working hard to meet their financial obligations while also saving for retirement. This calculator shows how they could increase their expected tax refund and use it to increase their planned RRSP contribution, significantly enhancing their short and long-term RRSP savings. Your clients have options to temporarily fund their additional contribution using an out-of-pocket strategy or a conservative short-term RRSP loan strategy (until they recoup it from their expected refund).

Share Optimizing Your RRSP with your clients to show them how they can make the most of their RRSP. Continue reading “Optimizing Your Client’s RRSP” →

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Optimizing Your RRSP

Is your client expecting a new family member? What an exciting time, but equally as scary when they begin to consider all the uncertainties that come with parenting.

First day of school, learning to drive, parties and dating… over the years, there will be plenty of things for your client to worry about as their child grows up and ventures into an independent life – however, finances should never be one of those worries. Here are a few key aspects for your client to consider when laying out a solid financial foundation for the newest members of their growing family. Continue reading “What Your Client Should Financially Expect When They’re Expecting” →

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What to Financially Expect When You’re Expecting

It may seem like an easy decision for your clients to invest in guaranteed return investments when rates are high, but it’s important not to lose sight of inflation. The objective, after all, is to increase purchasing power through earning at a rate higher than inflation. If inflation is, say, 5% but interest rates are also 5% then the real interest rate is 0% and there is no increase in purchasing power. Increasing purchasing power can often involve taking on some level of risk.

Your clients may benefit from exploring the value of taking risks with different types of investments that offer varying risk profiles or tax treatment. Continue reading “The Value of Taking Risks” →

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The Value of Taking Risks

If your clients want to take advantage of attractive GIC rates but don’t want to lock in all their funds for a long duration, talk to them about GIC laddering. Rather than making their entire investment in a 1-year fixed term, encourage them to split it into different fixed terms of 1 year through 5 years. With this strategy, they’ll have investments maturing every year, and will stand to earn far greater returns. Share this calculator to help them see the potential advantages of GIC laddering. Continue reading “GIC Laddering” →

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GIC Laddering

Between 2020 and 2030, there will be a huge intergenerational wealth transfer in Canada – over $1 trillion (1). As an Advisor, are you positioned to take advantage of this transfer of wealth?

If you have mature clients, you understand the unique issues and lifestyle decisions that they face and how these decisions can have a significant impact on the value and transmission of their wealth. As their Advisor, you are in a position to offer unique perspectives and solutions that can make a difference. Continue reading “The $1 Trillion Intergenerational Wealth Transfer” →

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How to Prepare for a Wealth Transfer

When inflation is in the news there is increased focus on guaranteed interest type products, namely, annuities. But what exactly is an annuity and how does it work?

An annuity offers your client, the investor, an opportunity to relinquish a lump sum of money in exchange for a guaranteed periodic level cash flow. The periodic amount your client receives is based on their age, gender and prevailing market rates. There are two main types of annuities: a “term certain annuity”, where a period of time is specified for the cash flow and a “lifetime annuity” where the cash flow is guaranteed for life. In either case, the market risk is taken out of the equation as the cash flow is guaranteed for the pre-determined amount of time. Here are a few more factors to consider with your client: Continue reading “Guaranteed Interest Rates with Annuities” →

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Securing Guaranteed Interest Rates with Annuities