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Creating the perfect budget

on Sun, 11/04/2012 - 09:10

I have been hearing more and more people saying they cannot do a budget (not just people who feels they can't, but also people who have been done relatively well in their savings), ultimately, everybody feels that there is not enough savings (which is a good thing).

A lot of people have very negative thinking on budgeting. "Cut backs, tracking every penny and cannot have fun anymore..." are what they have in mind when they heard of budgeting, but really, budgeting is about figuring out how much you can spend after your bills.

We are being affected and we don't even know how...

on Sun, 10/21/2012 - 19:26

On March 29, 2012, the Federal Minister of Finance, Jim Flaherty, presented the government’s budget. The budget proposes technical changes to a life insurance policy on its tax exempt functionality. That rule particularly impact the life insurance policies issue on or after 2013. I had been trying to "wait and see", to understand whether any insurance company would release any memo or article in regards to this.

The Power Expo - A good start

on Fri, 10/19/2012 - 11:09

I have had the pleasure of being involved with a very meaningful event these past 2 days - the Power Expo. The 3 ladies who pulled this event together - Dianne Ojar-Ali, Caroline Dafoe and Loana Morgan - ensured it was an 'admission-free' event, for the sole purpose of adding value and bringing positive change to the lives of those who attended.

The event was held at the Metropolitan Centre Banquet Hall, 3840 Finch Ave E, Scarborough (between Kennedy and Birchmount). The location was easy to find, except that the building was behind St.

My first day at the Power Expo

on Thu, 10/18/2012 - 10:50

I had the pleasure to run a workshop at the Power Expo yesterday, it was a great day. A pity that they had technical difficulties at the time when the event was supposed to start, and that delayed the whole schedule. Of course, we all understood these things happen, and we waited patiently for the event to start.

One thing though, because of the delay, some people that I have talked to told me that they had to skip my workshop because they were going to another event in Markham :(

Furthermore, my workshop time had cut over 1/3 of the planned time, even I was ensured that my time wouldn't

Another way to boost your retirement income for current pensioners

on Sun, 08/12/2012 - 23:26

Starting January 1st, 2013, a CPP pensioner who continue to work will be able to start receiving a post-retirement benefit (PRB), which is based on a contribution from the previous year.

PRB is calculated yearly and separately every year till the recipient reaches the age of 70, no further contributions can be made. Like CPP, PRB is payable for the pensioners' lifetime. The good thing is: PRB is not subject to maximum benefit rate ceilings. It can be paid in addition to a maximum retirement pension or maximum combined retirement/survivor benefit. 

Like CPP, contributions to PRB are based on

What will you do if you are not happy with your broker?

on Thu, 06/28/2012 - 13:56

In chatting with a new prospect the other day, I was asked to give my advice on his current portfolio statement. I spent about a day and a half researching his current holdings, trying to figure out what kind of risk he was being exposed to at the moment. It turns out, there were not many tools or software available out there, to help me determine where his portfolio risk fell; most were only able to provide the asset allocation, but not the actual risk.  

Finally, before I met with him again, I was able to find a way to have it all plotted out, with a volatility meter!! :D

I explained to

So, what happens to my OAS NOW??

on Fri, 06/01/2012 - 15:22

I was chatting with one of my clients who is now looking to retire in a few months (initially she thinks she would work for another 2 years more). So, I asked her to gather all her RRSP and group pension information, together with her CPP numbers so that we know exactly what to do and how to do the withdrawals after her retirement. 


She called CRA and asked for update information on her CPP (she did get her CPP Statement of Contributions, but she wants to see if there is any changes because of the budget… Readers who would like to know more details on their own CPP, please follow the

A way to get free money from the government...

on Sun, 05/13/2012 - 16:33

I was chatting with an inside wholesaler the other day and we were discussing whether or not a company needs to have a lot of products to offer. I responded that I really don't think all companies need to have a lot of different solutions as we as advisors deal with a lot of companies already. All the companies only need to make sure they focus what they do best and advisors will pick between products and solutions. 

We continued to chat on different things and we both found that there are only a few companies offer RDSP (Registered Disability Saving Plan), and among those, most of them are

Back to basics

on Wed, 04/04/2012 - 08:57

I had a few meetings lately with some referrals from my clients, thanks to them :) But I found that people are not having the basic idea of how to build a sound financial plan. Of course, I can understand that investment is always exciting and interesting, fact that lots of people want to learn (and see) their money grow than the boring "saving" talk. However, they are not seeing how important stability is.

A good advisor should not be showing you what you want but the best solution for you.

Effectively plan your real estate retirement plan

on Wed, 03/28/2012 - 10:25

I have heard from more and more clients indicated that they want to sell their shares from the market and start their real estate venture for their retirement… Especially when we see the housing market hitting highs over and over again. No matter how many experts or economists had been warning us the housing market is overheat, over-valued, housing bubble is about to burst…. since all these "warnings" had been on for quite some time now, people on average haven't really take that into account anymore.


CIBC World Markets economist and expert in real estate Benjamin Tal described the