It’s natural to think that estate planning for a single person would be less involved than for someone who’s married with children. But that’s not necessarily the case. Many estate planning measures that are made automatically by a married individual, such as leaving estate assets to their spouse, require more time and thought for a single person…
Read MoreWhen retirement arrives, you want to enjoy this new chapter in your life – not start off with a multitude of financial decisions and to-dos. You can have comfort instead of chores by taking care of a few financial matters as retirement is approaching…
Read MoreOn Monday, the Russian government announced that they were officially recognizing Donetsk and Luhansk, two selfproclaimed separatist republics in eastern Ukraine. Read the full article by Dynamic Funds® Chief Investment Strategist: Myles Zyblock BA (Hons.), MA, CFA…
Read MoreWhen you think of income splitting, what first comes to mind is likely moving taxable income to a lower-income spouse. But several income splitting opportunities with children are available and worth exploring. The more income you can transfer to others in a lower tax bracket, the more tax you save as a family…
Read MoreIn retirement, there’s a tax-saving strategy called “topping up to bracket.” It’s used when funds in a Registered Retirement Savings Plan (RRSP) or a Registered Retirement Income Fund (RRIF) will eventually be withdrawn when you’re in a higher tax bracket…
Read MoreFor 2022, you can contribute $6,000 to your Tax-Free Savings Account (TFSA), bringing the cumulative total of TFSA contributions to $81,500, or $163,000 between a couple. This means that a TFSA can help meet any investment objective…
Read MoreOne key outcome of the pandemic is the harsh reminder that anything can happen at any time. Many Canadians recognized the importance of having a financial cushion – especially business owners affected by COVID-19 shutdowns and those unable to work. We can’t predict if or when a challenge will arise, but we can prepare to manage the financial consequences. Here are examples of unexpected events and the solutions you can put in place in advance…
Read MoreOne of the tax breaks the government gives to couples takes place when the first spouse passes away. That person’s Registered Retirement Income Fund (RRIF) can be taken over by the surviving spouse without taxes being payable at the time. So those funds continue to grow on a tax-deferred basis. But what happens if the surviving spouse only takes the minimum required RRIF withdrawals throughout retirement?…
Read MoreA lot of you may have noticed that some of your favourite products and services have become more expensive, or even out-of-stock. These are the side effects of central bank monetary policy and COVID-19 shutdowns. When consumer demand and inflation are going up, how can you be sure your investments do too?…
Read More…a trust can be used by just about anyone to meet a variety of estate planning needs. One of the most common uses is controlling how an heir or heirs will receive their inheritance…
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