With higher tax rates and lower allowable contribution limits to Tax-Free Savings Accounts, Canadians may be looking for new ways to shelter their money. But if they want to do it through permanent exempt life insurance policies, they better move quickly because of new rules…
In a recent survey conducted for BMO Wealth Management, more than half of the respondents said they will miss their employment income when they retire, and many are worried about running out of money or becoming ill. Asked how they feel about retirement, 59% of those surveyed…
The Ontario Retirement Pension Plan is a new, provincially managed pension plan being created for residents of Ontario. It is intended to cover people who don’t have workplace pension plans, giving them extra income in retirement. The province estimates about 3.5 million workers will participate….
The government of Ontario has revealed some details about how the new Ontario Retirement Pension Plan (ORPP) will be structured and administered. Benefit indexation is conditional on funding, and the self-employed are exempt from contributing. Premier Kathleen Wynne, Minister of Finance Charles Sousa, and Associate…
Saying “I do” is perhaps the most rewarding and riskiest investment any individual can make, but according to experts, the stakes for high net worth clients can be exceptionally high, with millions of dollars of assets on the table. From protecting wealth to combining legacies,…
Canada’s economic conditions are gradually improving as the country climbs out of a technical recession. Statistics Canada recently stated the nation’s GDP grew 2.3% in Q3. Modest increases in employment and earnings, coupled with low interest rates, should also support real estate demand in 2016….
Life insurance. After just those two words I can sense your attention starting to waver. But if you are a high-net-worth Canadian who cares about your investment returns and paying less in taxes, you should pay attention to life insurance. Ted Rechtshaffen: In 2015, what…
A majority of Canadians expect to leave assets upon death, but when it comes to having conversations about transferring that wealth, many say they haven’t discussed it with their families or financial advisors, finds a CIBC poll. 51% of Canadians expect to transfer wealth, but almost…
I realize that insurance agents get a bad rap. There are few people on the face of the Earth who can be more persistent than an insurance adviser. I often tell the story of the time I met with my own adviser who was trying…
In theory, this should be an ongoing process and the last 5 years before ‘pulling the pin’ should merely be refining your existing plan rather than starting from scratch. Of course, life doesn’t always work that way and the adage “better late than never” is quite…