The Emergency Fund

Here’s a blast from the past that I love more than ever – the emergency fund. It is meant for the inevitable financial surprises that can happen at any time. You know what they are – a dripping faucet, roof or hot water tank. A tooth. Being asked to be in a wedding party. They… Continue Reading

This might seem simple: Frequency Drives Volume.

Shocking news: The more often you shop, the more you buy. This is true in just about every category – whether it is groceries, clothes, shoes or your favourite collecting hobby. What most people don’t think about is that a habit of shopping frequently can drain financial resources away from more important areas in their… Continue Reading

What to do with the Inheritance

A number is thrown around a lot when the amount of money that will be passed down in the coming generation in Canada is estimated - $1 Trillion they say over the next 20 years. Right now the average inheritance is just over $100,000 but it is expected to swell to $300,000 in the coming… Continue Reading

Minimizing an Estate’s Income Taxes

Well, June 9th was Tax Freedom Day in Canada. Let’s face it, as Canadians we hate paying income taxes and we pay more than all but a small handful of countries in the world. A massive industry is built around minimizing taxes for Canadians – they are wonderful folk we call accountants. And while it… Continue Reading

Understanding Taxes Owing at Death

Many seniors worry about the taxes owing upon death – or what used to be called Probate Tax. If you have a loved one who is starting to think through their estate, and who is wanting to limit the taxes owing, you may want to know about this too. Those living in Ontario need not… Continue Reading

Sometimes a Few Words are Worth a Good Picture

I frequently receive heart-warming feedback on my unique brand of flat-fee financial planning and money coaching. A few days ago I received this testimonial that I thought I would share to help communicate the value I am honoured to bring to my clients' lives. "As my husband had managed our finances for 32 years, I… Continue Reading

Act like you earn less than you do

One of the best things you can do to improve your financial health is to spend as if you earn less than you do. Everyone who makes good money knows it. And that is a dangerous thing, because the more you make the more you feel you should - and can afford to - spend.… Continue Reading

Income Splitting Options in Retirement

Benjamin Franklin once said “Nothing is more certain than death and taxes”. But when it comes to paying taxes, those with a common-law partner or married partner are simply better off. Paying less total income tax is not only possible, but a virtual guarantee because of the gifts granted by our government to encourage long… Continue Reading

Get to know your Workplace Pension

If you have a workplace retirement plan or pension, get to know it! When it comes to work plans, there are basically two types of pensions: defined benefit and defined contribution. With a defined benefit pension – common for teachers, hospital workers, government employees and some (rare) company employees – the plan promises to pay… Continue Reading

Can Money Buy Happiness?

For years we have been told that money doesn’t lead to happiness. So why is it that so many crave riches? Recent research suggests that money can deliver enhanced levels of satisfaction – not from having more of it - but by spending it on things that last and yes, even giving it away. A… Continue Reading

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