9 Common Ways Canadians Erode Their Wealth
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Managing money isn’t always glamorous, but small missteps can quietly chip away at your nest egg. Avoid these nine wealth-killers, ranked from "minor leak" to "financial sinkhole."
9. Chasing Loyalty Points -
We all love a deal, but loading up on loyalty points by spending more than you planned is a losing game. If you spend $5,000 just to earn "free” rewards, you’ve negated any benefit–and if you carry a balance, interest charges...
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Life Insurance: What You Need to Know
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When it comes to life insurance, the name is a little misleading–it’s not really for your benefit. It’s there to protect the people you care about most if something happens to you. In a way, it’s more of a "loved ones’ lifestyle protection plan."
One of the first things to understand is that you don’t buy life insurance with money–you buy it with your health. If you become seriously ill, you may not qualify, no matter how much you’re willing to pay. So, waiting too long...
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Tax Efficient RRSP Withdrawal Strategies
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Many Canadians diligently contribute to their Registered Retirement Savings Plans (RRSPs) throughout their working years, aiming for a comfortable retirement. However, when it comes to withdrawing these funds, the strategy isn’t always straightforward. For some, tapping into their RRSPs earlier than traditional retirement age can offer significant tax benefits and financial flexibility.
Why Consider Early RRSP Withdrawals? -
The conventional wisdom suggests deferring RRSP withdrawals to delay taxes as long as possible. Yet, this approach might not be optimal for everyone. Withdrawing funds during years when you’re in a lower tax bracket can reduce your overall tax burden. This strategy, sometimes referred to as an "RRSP meltdown," involves strategically...
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Happiness often sneaks in through a door you didn’t know you left open.
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John Barrymore
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Advantage Securities is a trade name of Aligned Capital Partners Inc. (ACPI) used for investment business. ACPI is regulated by the Investment Industry Regulatory Organization of Canada (www.iiroc.ca) and member of the Canadian Investor Protection Fund (www.cipf.ca). The information contained in this publication has been compiled from sources believed to be reliable, but no representation or warranty, express or implied, is made by Aligned Capital Partners Inc., its affiliates or any other person as to its accuracy, completeness or correctness. All opinions expressed in this communication are as of the date of this publication, are subject to change without notice and are provided in good faith but without legal responsibility. Nothing in this publication constitutes legal, accounting or tax advice or individually tailored investment advice. This material is prepared for general circulation to clients and has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. Products or services referenced may not be suitable for you and it is recommended that you consult your advisor if you are in doubt about the suitability of such investments or services. This is not an offer to sell or a solicitation of an offer to buy any securities. Investment products are provided through ACPI and include, but are not limited to, mutual funds, stocks, and bonds. All non-securities related business conducted by Ryan Peterson of Advantage Financial Services is not in his capacity as an agent of ACPI. Non-securities related business includes, without limitation, fee-based financial planning services; estate and tax planning; tax return preparation services; advising in or selling any type of insurance product; any type of mortgage service. Accordingly, ACPI is not providing and does not supervise any of the above noted activities and you should not rely on ACPI for any review of any non-securities services provided by Ryan Peterson. Past performance is not indicative of future performance, future returns are not guaranteed, and a loss of original capital may occur. Every province in Canada has their own laws regulating the types of securities and other investment products which may be offered to their residents, as well as the process for doing so. As a result, any securities discussed in this report may not be eligible for sale in some jurisdictions. No matter contained in this document may be reproduced or copied by any means without the prior consent of the author or ACPI.
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Advantage Financial Services Inc.
3222 Fairway Street South, Lethbridge, AB T1K 8A3
Ph: (403) 381-9195
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