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Too late for RRSPs?

on Mon, 03/13/2017 - 04:30

Deadline for 2016 RRSP contribution had passed. You think it is then too late to do RRSPs? No... Never too late. 

The amount you do now and later, of course, cannot be used to lower your income in 2016 but it can be used towards 2017 and beyond's income level. 

Bear in mind, doing it early is always better than later. Here is why:

1. Less stress

When you have lots on the plate and still have to scramble to get last minute RRSP contribution in, that's very stressful 

2. Less financial burde

You can start a monthly contribution so that you don't have to try come up with a lumpsum at

Do you know one of the best tax shelter strategies will be gone in 6 months?

on Wed, 06/15/2016 - 12:53

Here is the reason why you want to revisit getting a permanent life insurance policy (especially if you have a corporation).

Permanent life insurance policies had been regularly incorporated by financial professionals as a part of tax shelter strategy for decades. Since market crash, life insurance had been we comely used as investment strategy, NBC News' report in May 2008. Come 2017, that benefit will drop substantially. 

To make it easy to understand, when any tool allows the saving/return portion over and above its original purpose, it is an investment vehicle.

Last minute tax saving for corporations

on Sat, 12/19/2015 - 09:07

"Entrepreneurship and Small Business" series, #8 (#7 Business budget made easy; #6 The advantage of a business account; #5 How to pay yourself effectively; #4 How to manage your business; #3 Things to consider when you start your business; #2 What you should do before you quit your full time; #1 What needs to be prepared before you start your business; #9 The federal disaster to small businesses and working class

If you hold a corporation, there are some strategies at the year end you can consider to lower your tax bill:

Return income back to corporation

Over the year, you probably had

How to lock in your rates?

on Wed, 01/09/2013 - 12:03

Step away from short-term rates
Ladder your investments for a blended rate

If you think interest rates will go up, but don’t know when, consider laddering. A laddering strategy gives you a simple, long-term approach to investing your money by letting you stagger the dates you reinvest.

How does Blended Rate Laddering work?

Step 1

We divide your investment into 5 equal redeemable Ideal Term Funds. All of your money earns the same blended interest rate on the initial terms.

Laddering - Step1

The maturity dates of each of the five term funds are from one to five years.

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.

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.