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Do I Need an Estate Plan?

Do I need an estate plan? The answer is most likely a resounding YES although most people wrongly assume they are too young to have an estate plan. This is most likely because they don’t know what an estate plan is or because they don’t think of themselves as having an estate. After all, estates belong to rich people, right? To better understand why you need an estate plan, let’s get some definitions straight: Estate, in this case, refers to your assets

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4 Ways to Save for a Down Payment on a Home

If buying a home or condo is on your future wish list, you’ll want to start saving as soon as possible. Here are 4 smart ways you can start saving for a down payment and the pros and cons that go along with them. 1. Use the RRSP Home Buyers’ Plan for a down payment The government allows first-time home buyers to use their RRSP savings to purchase a home under the Home Buyers’ Plan, tax-free up to $35,000, as

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Smart Ways To Use Your Tax Rebate

On average, the tax rebate Canadian’s received for 2020 was $1,850. How you use your tax rebate can have a huge impact on your financial future, even though it might not be evident right away.  It’s important to plan ahead to get the greatest benefit. What is a Tax Rebate? A tax rebate is a reimbursement by the government of taxes overpaid by the taxpayer throughout the year. One of the most common reasons for a tax rebate is due

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Set Yourself up for Financial Success in 2021

Whether you set new year resolutions or not, taking one step toward improving your financial literacy and applying that knowledge in 2021 would serve everyone well. Small steps will get you moving in the right direction. Here are some easy ways to get started. Learn About Personal Finance Whether you have lots of time or only a few minutes a week, there are plenty of sources of information on personal finance. Here are some solid recommendations to get you started. Blogs: 

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Everything You Need to Know About RESPs, But Probably Don’t

RESP Basics You likely know that a Registered Education Saving Plan (RESP) is intended to save money for your child’s education and that the invested money is allowed to grow tax free. When your child is ready to go to a post-secondary institution, you know can withdraw the money to pay for their tuition. Hopefully you also know about the Canada Education Savings Grant (CESG), which matches your contribution up to $500 per year up to a maximum of $7,200 in a lifetime.  For low income

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