The Basics of TFSAs

A Tax-Free Savings Account, more commonly known as a TFSA, is a savings account that can hold cash as well as investments. The TFSA was introduced to Canadians in 2009. Any Canadian over the age of 18 who has a SIN number can open a TFSA. How a TFSA Works TFSAs work...

Understanding Life Insurance Riders

Life insurance is a flexible product that allows a policy holder to tailor the policy to their specific situation. One of the ways they do this is through the use of policy riders. Riders are additional benefits or conditions that are added to an insurance policy....

A Bit About NFTs

NFT stands for Non-Fungible Tokens. They are unique digital assets that can be stored and sold at a higher value to an interested buyer or collector. NFTs are also based on blockchain technology. They could be digital arts, videos, audio, and tweets. The literal...

The Value of Participating Life Insurance

Participating insurance can serve a variety of purposes for both individuals and businesses. For business owners, it may work well as a tax planning vehicle. For individuals, it may serve as a way to provide a modest inheritance to their loved ones after they are...

How Rising Interest Rates Work

If there is ever a time to start understanding how interest rates work, now might be it! The Bank of Canada, U.S. Federal Reserve and other central banks have been raising interest rates consistently since inflation has been rising rapidly as the pandemic ends, the...

RESPs and Grandparents

The cost of university has risen sharply, and so has the importance of graduating with a desired and marketable set of skills and knowledge.  Without a post-secondary education, employment and life opportunities are more limited now than ever before.  Contributing to...

How Investment Income is Taxed

Investments can represent a major source of income for some individuals and with that income comes a wide variety of tax implications. The good news is that some types of investment incomes are subject to special tax treatment. Understanding how your investments are...

What is Probate and How to Plan for it

Probate is the process of getting your will approved by the courts.  This process validates your will and allows your executors to distribute your assets.   However, probate can often be an expensive and long process.   Each province has...