Posted by Ravi Gulati | Posted in Financial Planning | Posted on 24-04-2014
Study finds one third of Canadians have powers of attorney for property
Half of Canadians have not spoken to their families about their written wills
A recent Scotiabank study found that half 50% of Canadians have a will. However, when considering that a complete estate plan also includes a power of attorney, the study found that only one third 33% of Canadians have a power of attorney for property, while 59% do not have one and 8% say they don’t know what it is.
News Sources – The Globe and Mail.
Posted by Ravi Gulati | Posted in Financial Planning | Posted on 21-04-2014
In the quest to grow wealth, many people believe they have to seek out the highest return possible. However, investors often overlook their real objective: to generate the most money after taxes. That’s why it’s difficult to believe that, over the long haul, you can actually become wealthier by owning a fund that generates a 10% annualized return with no turnover than one that has an 11% return and 100% turnover.
Here, we explore how the power of compounding and the tax system can be leveraged to help grow wealth over time……….
MAXIMIZE REGISTERED PLANS
Registered savings plans are easy giveaways from the government, says Golombek.
The problem, he says, is “we still meet…clients who haven’t opened [accounts such as] TFSAs because they say it’s too much trouble,” notes Golombek.
Regarding RESPs specifically, he suggests people do more than contribute the annual bare minimum of $2,500. Most stop at this amount, finds Golombek, since government grants (which are equal to 20% of the amount contributed) are capped at $500. People should aim to reach the $50,000 lifetime limit of RESPs
When’s a 10% return better than 11%? | Advisor.ca.
Posted by Ravi Gulati | Posted in News of Interest, Uncategorized | Posted on 20-04-2014
So who’s been able to avoid this economic insanity of debt?
There are exactly five answers to that very question. Despite a trend among every other country that exists. These five have been able to stay in the positive, in the green, above the bar if you will…
The Only 5 Countries In the World Living Debt Free – TheRichest.
Posted by Ravi Gulati | Posted in Financial Planning | Posted on 20-04-2014
If you own assets in the U.S, you need to familiarize yourself with new U.S. tax rules and get ready to pay a little more.
The estate tax is based on the fair market value of all U.S. assets owned at the time of death. It can reach 40%, depending on the value of U.S. assets and the worldwide estate.
But not all Canadians who own U.S. assets will be subject to U.S. estate tax. A look at the new tax rules will help you determine whether you’re exposed.
Are you subject to U.S. estate tax? | FromYourAdvisor.ca.