Facebook Twitter Gplus LinkedIn YouTube
416.230.2703 | 705.798.0062
tim@timweichel.ca
magnify
Home Financial Health Blog Archive for category "Gearing up for retirement"

Gearing up for retirement

You’re in your peak earning years. You have five, ten, or fifteen years to go. Make the most of them by taking advantage of effective tools to maximize your nest egg, slash debt and ensure the retirement income you need.

How to minimize the OAS clawback

Higher-income seniors are often disappointed when their Old Age Security (OAS) benefit gets clawed back. What is OAS? OAS is a taxable monthly social security payment program available to most seniors aged 65 and older. Since the benefit is not based on employment history, it may be available even if a person has never workedRead More…

 

Seven Personal Financial Tips for 2017

Happy New Year!  Here are a few thoughts I’ve put together to help you make your 2017 a great financial year: Hedge your currency bets.  Here’s a great way to make sure you don’t get a shock when you buy U.S dollars.  Say you need $5,000 U.S. for a vacation.  You can set up aRead More…

 

Private Wealth Management

For those with $200,000 to $1,000,000, we offer the option of working with a firm of licensed discretionary portfolio managers  who employ the investment management techniques of pension funds and institutions.  Some of the benefits to you include: An investment committee of senior professionals (CFA, CFP, and/or CIM) with an average of 25 years’ experienceRead More…

 

Retire Happy, Wild, and Free: Sources of retirement income

I’ve recently read a book called HOW TO RETIRE HAPPY, WILD, AND FREE.  It’s a non-financial look at thinking about and preparing for what you will do and how to get the most out of life in semi-retirement or retirement.  Included are examples of people who have retired anywhere from age 27 to age 80. Read More…

 

Protecting your wealth with life insurance

Who needs life insurance? People with responsibility for others For people who depend on you for support, a spouse, children or dependent adults, life insurance can play a fundamental role in their continued financial well-being.  In addition to making up for the loss of your income, the proceeds from a life insurance policy can beRead More…

 

A Personal Defined-Benefit Pension Plan

Retirement income protection: The Guaranteed Lifetime Withdrawal Benefit When you choose a “Guaranteed Lifetime Withdrawal Benefit” (GLWB) option with a Segregated Fund, your retirement income is guaranteed for life and will never decrease, even in market downturns. Better still, this guarantee also offers you the possibility of increasing your income. Why choose a GLWB? GuaranteedRead More…

 

Build a rock solid pension with no stock market exposure: Start with $25,000

Consider this fixed income investment that provides a guaranteed retirement income for life without having to live with the risk and volatile returns of the stock market.    Retirement today Most Canadians have saved some money in RRSPs and TFSAs but do not have a clear idea whether their savings are sufficient, or how muchRead More…

 

14 powerful financial calculators

These easy-to-use calculators will help you with retirement planning, investing and saving, mortgages and loans, and personal finance. You’ll find  tools that will instantly help you answer questions and make decisions: Retirement Planning RRSP Calculator Calculate how much you will need to save between now and the day you retire. RRSP Illustrator Get a personalizedRead More…

 

Save thousands in interest on your mortgage!

Most Canadians manage their finances by doing two things: Depositing their income and other short-term assets into chequing and savings accounts. Borrowing when they need to, through mortgages, lines of credit, personal loans and credit cards. Sounds simple enough. Unfortunately, they usually receive low or no interest on the money they deposit, while they payRead More…

 

Segregated funds can provide market growth with security

“Segregated” or Guaranteed Investment Funds (GIFs) can give you the growth potential of investment funds with the security of insurance guarantees. • Guaranteed death benefit –  Your beneficiaries will receive the greater of market value or 75% or 100% of your net contributions tax free when you die, depending on which you choose.  Ideal forRead More…