Financial Planning
2020 Cross-Country Checkup Survey
CONTENT FROM: FINANCIAL PLANNING WEEK REPORT PUBLISHED NOVEMBER 20, 2020 In a tough year, some loss of financial confidence among Canadians: planning holds the key When FP Canada launched its first Cross-Country Checkup Survey in 2018 to gauge Canadians’ collective pulse on financial matters, it found a significant majority of survey respondents – almost seven…
Why “One” Is the Worst Number When It Comes to Financial Planning
“One” is usually the best number to be…except when it comes to financial planning. Imagine if you only had one income stream, one investment, one insurance plan, etc. As the saying goes, putting all your eggs in one basket is taking a big risk, and in the financial world, it doesn’t allow for what we…
Having Little Financial Knowledge is a Dangerous Thing
When it comes to financial planning, knowing too little is a dangerous thing. As a financial planner, the main part of my job is to educate my clients on things that they may not know—or things that they may not know they don’t know. In today’s blog post, I’m going to tell you why it…
9 Strategies to Protect Your Personal Credit Score
There are a variety of unknown factors that can affect your personal credit score. For example, most people don’t realize the importance of and the difference between two key dates for paying off their credit card debt: the due date and the statement date. The latter is the date on the credit card statement, and…
How Life Insurance Can Save Your Family – Stories from the Heart
At IRONSHIELD, it is important for us to help you make the best decisions possible when it comes to your everyday finances. Life insurance is a tool that can greatly improve your life and provide your family with financial stability. In today’s blog post, I want to show you some examples of how a proper…
Lower RRIF Withdrawal Minimums—More Flexibility for Seniors
The annual federal budget revealed in April 2015 brought along changes that have a profound impact on the financial industry. Along with the decision to raise the contribution limits of TFSAs, it was also announced that the government has proposed new rules for Registered Retirement Income Funds (RRIF) and lowered the mandatory withdrawal minimum for…
New TFSA Limit Reaches Close—But Not Quite—to Proposed $11,000
Last month, the federal budget revealed that the new Tax-Free Savings Account (TFSA) limit had been raised from $5,500 to $10,000 per year. While this is nearly doubled the original limit, it falls short of the expected $11,000. Still, the 82% increase in contribution room will have a significant change in your financial planning. In…
The Financial Advisor Evaluation (FAE): 10 Questions—Yes or No?
Based on a past HSBC survey, nearly two-thirds of Canadians don’t have a financial plan. It didn’t make sense to me because another report showed that the majority of advisors in Canada do offer financial plans to their customers. Why, then, do so few people have it when there is such a high number of…