ARTICLES
2009 — The Year It Paid Off to Stay In
Congratulations! You rode out the 2008 market correction without changing course – and now it’s paid off (and what a payoff). Although we experienced an extremely tough year in global markets in 2008, those who stayed invested – and invested more – benefited from one of the biggest stock market rallies since 1979. Close to home,…
Lesser-Known Signs You Need to Change Your Plan
We all know about the big life events that might trigger a change in your financial plan – a new job, an inheritance, retirement, marriage or divorce, sale of a business, the birth of a child. But there are a host of other, less earth-shattering circumstances that might signal a financial change to come. It…
Highlights of the 2010 Federal Budget
The 2010 Federal Budget was delivered as Canada and other nations are slowly working their way out of the recent global recession. While Canada experienced less of a decline than other countries, the Canadian economy still has some work to do before it will fully get back on its feet. As expected, this is very…
Friends don’t let friends quietly suffer financial misfortune
CLIENT SUCCESS STORY #1 Client Profile: Laurence Sunderland (not his real name) Occupation: Business Owner – Residential and commercial alarm systems Prior to meeting with IRONSHIELD Financial Planning™, Laurence’s confidence in his advisor was diminishing. He felt that his advisor was presenting mostly “smoke and mirrors” as there seemed to be a “lot of activity…
Canadian Charities – Good Giving…
Canadian charities had a rough year according to Statistics Canada. Donations were down 5.3% as recession-wary Canadians cut back on support for their favourite causes. There is still a window of time left to help a charity that means something to you. If you do decide to give, make sure you take a smart approach…
Not Your Dad’s Pension Plan
Pensions have changed a lot since the early days when employees could rely on a generous defined benefit (DB) plan to take them through their retirement years. DB plans, which guarantee a set payout on retirement, are being replaced by defined contribution (DC) plans or Group RRSPs. With these plans, there is no guaranteed benefit…
Use Your Business to Put Your Kids Through School
Along with an RESP, a small business-owner has another ace up his or her sleeve to pay for a child’s education – an Employee Profit Sharing Plan (EPSP). An EPSP allows you as a small business-owner to income split with your children. By directing a portion of your income to your children through the use…
Make Retirement the Time of Your Life: Ask Yourself Three Questions
You’ve spent years in anticipation of retirement – now that it’s around the corner, it’s time to realize there’s more to retirement planning than just financial security. If you’re only saving for basic living expenses once you retire, then you may want to revisit your plan. Retirement should allow you to pursue your interests and…