Having one of the 4 c’s in the family (cottage, condo, chalet, or cabin) can help you make the most of your vacation. But what plans do you have for your vacation property when you pass on? Family cottages are wonderful – but many people take it on assumption that their children are willing to… Read more »
Have you created an estate plan? Thoughtful estate planning can help achieve many powerful, important goals. The main goal is to make sure assets flow to the intended beneficiaries in the most efficient and tax-effective manner. Another goal should be to open up transparent conversations between those giving and receiving wealth. Failure to have these… Read more »
TFSA vs RRSP: which should I contribute to? With a tax-free savings account (TFSA) available for saving in a tax-free environment, does it still make sense to contribute to a registered retirement savings plan (RRSP)? Tax-Free Savings Account (TFSA) – The TFSA program began in 2009. It is a way for individuals age 18 or… Read more »
Welcome to summer! If there was any way to remind us that we have now started summer, last week’s heat wave definitely got our attention! This summer, the only thing we want you to worry about is if you have enough popsicles in the freezer – your finances shouldn’t be burning you out. We recommend… Read more »
3 important dates to put in your personal finance calendar Jan. 1: TFSA contribution limit extension Tax-free savings account holders can start the New Year by contributing another $6,000 to their TFSAs. If you withdrew money from your TFSA in 2020, that contribution space can also be reclaimed. The CRA provides personal individual limits in… Read more »
It was Make a Will week in British Columbia April 7th-13th and at Arbutus Financial we want to encourage and support you in doing so. This is a very important aspect of planning and managing your financial affairs. Click on the following link to learn more about Will planning. There are some great resources listed… Read more »
“Give a man a fish, and you feed him for a day. Teach a man to fish, and you feed him for a lifetime.” – Chinese proverb The same principle applies with your kids and money. By teaching your kids how to manage their money, you’re preparing them to be self-sufficient when it comes to… Read more »
Incapacity. For many people, it’s not something they want to discuss, never mind prepare for. Some people trust in their families or the government to look after them while others are simply confident it will never happen to them. In the end though, there is only one person responsible for making your wishes known: You…. Read more »
Most people’s retirement income includes government benefits that can be clawed back or forfeited altogether if their reported income is too high. There are several ways you can reduce your reported income to maximize benefits in retirement. To learn more about this important planning area, check out this article: The Clawback Conundrum If you’d like to… Read more »
Let’s capture the momentum of the New Year and improve our knowledge of our personal finances. This will provide greater peace of mind, and clarity around steps you need to take to get things back on track. Some people just naturally live within their means, without paying much attention to the relationship between how much they… Read more »