The Canada Pension Plan (CPP) is a central part of the retirement planning process for many Canadians. But how does it work, and when should you begin taking benefits?
Daily, we constantly seek ways to streamline and simplify tasks. From one-click online purchases to one-stop shops, we crave the ease of a straightforward approach. This same mindset should be
Over the past decade, affording a home has become a challenging task. To address this, the federal government launched the First Home Savings Account (FHSA) to assist first-time homebuyers. Let’s
Congratulations to our very own Roger Sinclair! Roger was selected by the UPEI Alumni Association Board for a Distinguished Alumni Award in recognition of his career achievements and his many
We will now delve into understanding the tax implications of the Registered Retirement Income Fund (RRIF) upon the death of its holder.
This year's Future Proof conference was a convergence of culture, technology, and, of course, money, it represented the best of what the world of wealth management has to offer.
Embarking on retirement is a significant phase of life. To prepare effectively, one must be equipped with the right resources.
When it comes to estate planning, a will is undoubtedly a crucial document. However, there are downsides to distributing assets through a will, such as a probate tax that varies by province. Additionally, once your will is probated, it becomes public record, meaning anyone can look up how your assets were distributed.
The prospect of retirement conjures visions of leisure and relaxation. Still, for many, it's a journey into the uncharted – a phase without the well-defined structures of work and daily routines.
Halifax, NS – July 20th, 2023 Roger Sinclair and Andrew Mackinnon of SBW Wealth Management are proud to announce the appointment of our very own Kenneth MacQueen as an Associate
While designed to achieve certain goals, Canada's progressive tax system can lead to inefficiencies for couples with significantly different incomes. As retirees, it's essential to explore tax-reduction strategies to maximize your family's financial efficiency.
Retirement is a reward for a lifetime of work. Why does it so often lead to stress, anxiety, and uncertainty? As you move into this new phase of your life, you must have a plan that considers your financial, health, and social needs.
If an RRSP account was one of the savings vehicles you have taken advantage of to accumulate your retirement nest egg, you should understand how RRIFs work. RRSPs are designed to accumulate savings throughout your working life, and RRIFs are designed to pay income throughout your retirement years.
Intergenerational wealth, on our TV screens at least, conjures images of Succession’s Logan Roy dismissing one of his weasel kids with a sneer and expletive. Roy, the fearsome patriarch, who built his business from nothing, watches in disgust as the heirs to his throne – who do no work of any note - connive and backstab in an effort to win the keys to more money and power.
It has been 14 years since the tax-free saving accounts (TFSA) first came into effect. The results of this RBC survey indicate that Canadians may not fully understand where, in relation to their overall plan, the TFSA fits. From our conversations, we believe the confusion, at least in part, is due to the name itself: TaxFree Savings Account. Specifically, the combination of the words “savings” and “account”. A “savings account” has traditionally been used with a short-term purpose in mind and may have earned a modest amount of interest.
It has been 14 years since the tax-free saving accounts (TFSA) first came into effect. The results of this RBC survey indicate that Canadians may not fully understand where, in relation to their overall plan, the TFSA fits. From our conversations, we believe the confusion, at least in part, is due to the name itself: TaxFree Savings Account. Specifically, the combination of the words “savings” and “account”. A “savings account” has traditionally been used with a short-term purpose in mind and may have earned a modest amount of interest.
