Facebook Twitter Gplus LinkedIn YouTube
416.230.2703 | 705.798.0062
tim@timweichel.ca
magnify
Home Archive for category "Financial Health Blog" (Page 8)

Financial Health Blog

How to deduct expenses and save taxes – even if you’re an employee

Employees don’t seem to get any breaks. When it comes to tax, you’re very limited in the expenses you can deduct when calculating the tax you owe to the Canada Revenue Agency (CRA). Self-employed individuals have much more flexibility; they can basically deduct any reasonable expense incurred to earn income from their business. But ifRead More…

 

How spousal RRSPs can minimize your taxes

Spousal Registered Retirement Savings Plans are an important tax-planning tool. An RRSP is designated as spousal when one spouse contributes to a plan in the other spouse’s name. Spousal RRSPs will appeal to couples where one spouse earns a higher income than the other spouse, and is therefore in a higher tax rate bracket. ByRead More…

 

Which of these legacy scenarios fits you?

Have you thought about how you’d like to be remembered? We can help you leave a legacy for what matters most to you, while helping you retire with confidence knowing your needs are covered. This 3-minute video offers insight into four possible legacies, and how you can achieve the results you want. Enjoy an active,Read More…

 

How much (and which) insurance do you need?

As you age and your circumstances change, your need for different types and amounts of insurance changes. For example, over time the need for life insurance might decrease, while the need for critical illness insurance might increase. Use this simple, confidential calculator to complete an analysis of your life, disability and critical illness insurance needs.Read More…

 

How asset mix affects volatility

Depending on your investment objectives, you’ll want to have the right mix of stocks, bonds and cash. This helps balance your risk among different the different types of investments, and within each, you should also diversify to avoid exposure to unnecessary risks. All investments involve risk, investors must manage the balance between risk and potentialRead More…

 

A visa specifically designed to allow parents and grandparents to visit their families in Canada for longer periods

What is Super Visa? It is a new visa for parents and grandparents who want to visit their families in Canada for longer periods without having to renew their status. It allows holders to remain in Canada for up to 24 months at a time It allows multiple entries over a span of up toRead More…

 

One simple step you take today can mean years of stress-free retirement

This three-minute video introduces the simplest way to prepare for the realities of retirement, protect your income and ensure money for life. Discover the three types of expenses you’ll need to cover to wake up without stress during your retirement. Find out how you can take advantage of your last 5 to 10 working yearsRead More…

 

Answer these seven questions BEFORE you retire

Guess what new retirees say their biggest surprise is when they finally leave work? “Seven days of fishing or golf just isn’t as much fun as they thought it would be,” according to Eileen Chadnick, a certified life coach. She spoke about the value of a retirement plan that takes more than financial questions intoRead More…

 

How to prepare for elder care and the five stages of aging

These days, everyone has a story about caring for an elderly family member. From waiting with Dad at the doctor’s office, to staying overnight to administer Mom’s medication, to visiting your spouse at the long-term care home, the spectrum of care is broad. Elder care is posing mounting pressure on family caregivers, who are contributingRead More…

 

Plan for your health care needs tomorrow, today

Did you know that it’s Alzheimer awareness month in Canada? Not many of us want to think about it, much less talk about it, but the reality is that if we live long enough, there’s a good chance we’ll eventually need long term care. What is long term care? It’s the help you need whenRead More…