IG PRIVATE WEALTH MANAGEMENT |
Getting your retirement plan right is crucial; you need to be confident that your money will last throughout your retirement, while giving you the standard of living you need. That’s why it’s important to have a solid financial plan and also dependable advice. There have been a number of myths about retirement planning circulating for years that can have a negative impact on your retirement plans. Let’s take a look at some of the more common ones and the reality that lies behind them.
IG PRIVATE WEALTH MANAGEMENT |
As the March 1 RRSP deadline nears, many Canadians will, as they do every year, stash a last-minute lump-sum of cash into their retirement accounts. While it’s better to contribute before the deadline than not contribute at all, investing under pressure isn’t the best way to maximize your savings. “For a lot of a people, it’s a bit of a scramble at this time of year to make an RRSP contribution,” says Todd Sigurdson, IG Wealth Management’s Director of Tax and Estate Planning.
IG PRIVATE WEALTH MANAGEMENT |
If you are heading toward retirement with a well-balanced portfolio of assets and/or guaranteed income sources such as an employer pension, you may already have enough anticipated resources to create a life-long income stream.
IG PRIVATE WEALTH MANAGEMENT |
Higher inflation, a hawkish pivot by central banks and increasing fears of a recession weighed on both equities and fixed income during the second quarter. Unfortunately, there was no reprieve from the volatility of the first quarter.
IG PRIVATE WEALTH MANAGEMENT |
What a difference three months can make. The first quarter of 2022 was a stark contrast to the way markets ended 2021. Many equity indices went through a correction, bond yields climbed sharply (meaning bond prices fell), while central banks began raising rates.
IG PRIVATE WEALTH MANAGEMENT |
A vacation property—whether it’s a cottage in Muskoka or a chalet at Tremblant—is a valuable asset, not just in terms of the real estate, but also as a place that holds years of family memories. For many Canadians, passing the property to the next generation is a priority, but there are significant tax and non-tax-related considerations associated with keeping that cabin or condo in the family.
IG PRIVATE WEALTH MANAGEMENT |
A Tax-Free Savings Account (TFSA) is a great tool to build wealth for most Canadians while paying less tax. Although there are many benefits to investing in a TFSA, there can also be costly mistakes. This article outlines the eight most common pitfalls people encounter and how to avoid them.
IG PRIVATE WEALTH MANAGEMENT |
A year ago, many countries were managing through their second wave of COVID-19 infections. Many equity markets nevertheless had staged a full and complete recovery to their pre-COVID highs. Despite the equity recovery, investors were still nervous. A year ago, we had just started to hear news of pending approvals of COVID vaccines.
Many Canadians designate a direct beneficiary on their RRSP, RRIF, TFSA or insurance policies without giving it a second thought (although in Quebec, beneficiary designations are only effective on insurance policies). However, designating a direct beneficiary is not recommended for many plan/policy owners, where they have non-traditional or unique family situations, as it can lead to unfavourable tax implications for beneficiaries.
IG PRIVATE WEALTH MANAGEMENT |
Did you know that many Canadians are not adequately prepared to pass on or inherit family wealth? This is often due to a lack of communication and planning. The good news is that it’s never too early or too late to start. Planning helps you identify tax saving opportunities, mitigate potential financial gaps and maximize your current lifestyle.