The Canadian government has just made good on its 2021 budget promise. Starting last week, it permanently increased Old Age Security payments by 10 per cent for seniors age 75 and older, marking the first permanent increase to the OAS pension since 1973.
No one wants to think about the worst-case scenario. No healthy 30-year-old wants to make a will and go to the trouble of ensuring that all accounts and investments have a beneficiary named. But it’s never a question of if, it’s always a question of when.
Insurance can be an effective tool. Here’s an idea involving insurance that can provide a tax-free source of cash flow in retirement.
When it comes to most forms of insurance, many people understand the importance of having coverage. Whether it’s your car, your home, or other valuable possessions, having insurance means that you’re financially protected should disaster strike.
Types of spousal support payments and legal fees related to support payments can be deducted from a client’s income, which can help reduce their taxable income.
Tim Cestnick writes: My wife said to me: “Tim, I’ve heard that the sun at the cottage does more damage to your skin than sun in the city”. “I think that’s a myth,” I countered. There are some other myths that come to mind when I think about the cottage. Let me share a few today.
Don’t let the prospect of a medical exam deter you from getting life insurance. The exam probably isn’t nearly as bad as you think.
Here’s a look at why life insurance companies require a medical exam and what it entails.
As we continue to deal with financial stress due to soaring inflation, higher gas prices and rising food costs, taking inventory of your current finances and preparing for the unexpected can help you make more informed decisions about your finances and set new financial goals.
GICs are a safe and sound investment in these uncertain times, but they generally score badly on flexibility.
There are tax, estate and other implications when inheriting real estate, even from family.
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