New Years Financial Resolutions
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Jack and Diane want to improve their financial situation and feel that making financial New Years resolutions and implementing them is a good start. To help identify their priorities, they made the following list:
Set Objectives – Goal setting is the foundation of achieving financial success. If they write down their goals, it will help Jack and Diane clarify them and establish their personal and financial priorities.
Pay Themselves First – There is no better way of building wealth than paying themselves first. It simply means Jack and Diane take their savings off the top of their pay cheques rather than from what little, if any, is left over. By building their investments ...
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More Overlooked RRSP Tricks
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More than 65% of Canadians have made deposits to Registered Retirement Savings Plans (RRSPs). Many do so just for the tax savings, but here are some often overlooked tricks you should be aware of:
RRSP loans – Those who use investment funds for their RRSPs should be well aware of the strategy of ’buying low and selling high.’ As unnerving as it may feel, one of the best times to make a lump sum deposit is after there has been a substantial stock market correction. If you don’t have the cash on hand, an RRSP loan, paid back monthly, is an attractive way to come up with a larger deposit.
Use refunds wisely – Many RRSP contributors receive tax refunds each year. All too often, the refund gets blown on consumer items. Why not endorse the cheque directly over to your RRSP carrier and get a head start on next year’s contribution? How about a...
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The Retirement Dilemma: Part 1
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In the 1960s, retirement planning seemed straightforward. The advice was to move all your investments into fixed-income products as soon as you retired. Why? Because taking risks during retirement was considered dangerous. Back then, this approach made perfect sense.
But here’s the thing–this same advice still gets repeated today, sometimes treated as universal truth by some sources. Yet, the world has changed dramatically since the mid-20th century. So, is this old-school wisdom still relevant?
Let’s consider a story to illustrate the point. A woman preparing Christmas dinner cuts the end off her roast before putting it in the oven. Her daughter asks, "Why do you cut the end off?" The mother replies, "I’m not sure–that’s how Granny always did it. Let’s ask her." When they ask Granny, she laughs and says, "I only cut the end off..."
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Do what you can with all you have, wherever you are.
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Theodore Roosevelt
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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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