Inheriting Money or Property from Abroad: A Practical Guide for Global Beneficiaries Receiving an inheritance from abroad can feel like a welcome windfall—but it often comes with hidden tax implications, paperwork, and cross-border complexity. This guide breaks down what you need to know if you live in one country and inherit from another. 1 | Two Tax Systems Are in Play When you inherit across borders, both the estate’s country…
What Can Go Right? Navigating Market Volatility I have been paying attention to the uncertainty that we are currently living in, and I’m impressed by how many of you have reached out to ask if this is a good time to invest more. My approach to today’s environment is to focus on what I can control within our four walls and adapt only when there is a pivotal change. I…
As we enter 2025, it’s time to set or refine good habits, leverage the latest tax incentives, and position yourself for long-term financial success. Below, you’ll find a comprehensive overview that combines our key strategies—from the “two-year review” approach to Budgeting to mortgage renewal tips to maximizing your registered accounts. 1. Comprehensive Review Every Two Years We recommend conducting a full financial review every two years to: Optimize Tax Efficiency…
Owning a car is a significant financial commitment. Beyond the purchase price, you’ll need to budget for insurance, gas, repairs, and maintenance—all of which can quickly add up. You can avoid overspending and still get a reliable vehicle with a few sensible strategies. Key Considerations Know Your Budget – Your income and debt load will determine what you can reasonably afford. – Factor in more than just the sticker price:…
Cash Wedge Strategy As you approach and enter retirement, it’s crucial to carefully manage your investment portfolio to ensure a secure financial future. While the common strategy of shifting to a conservative portfolio may seem prudent, it’s important to recognize the potential risks associated with underperforming investments and market volatility. To safeguard your retirement income and protect your legacy, it’s vital to implement the Cash Wedge strategy in your portfolio.…
The third approach is a financial strategy that has benefited many of our households. It is a simple solution to help address the main financial areas in your life: Debt, Investment, and Lifestyle. The 3rd Approach Once you receive your first full pay after your increase, split the extra amount into three parts: 1. Debt Payments 2. Investments 3. Lifestyle Example: Say you have a $150 raise. You would increase:…
6 Steps to achieve financial prosperity Defensive Principles: 1- Pay off all your debts A key element of any client’s financial planning is to prepare a debt repayment plan, using either the “snowball” or “avalanche” approach. The snowball approach is applied by paying down your smallest debts first regardless of the interest rate, whereas with the avalanche approach you pay down the debt with the highest interest rate first. Both…
The expense categories are the following. • Housing • Transportation • Personal • Emergency funds Each category has subcategories. For instance, under Housing, we recommend saving the following. • Heating (if not equalized) • Municipal and school tax • Maintenance and renovation (1% of your home value) How it works. We help you determine your projected cost and divide the amount by numbers of pays you receive a year. If…
$100 extra on your child assistance payment!