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Posted in Financial Advice

5 Things Your Estate Plan Should Include

Posted by Frank Gasper on 13 April 2021
5 Things Your Estate Plan Should Include
Wondering what an estate plan should include? Here's a checklist of items you should have in your estate plan and things you need to do. If you have not read our blog post yet, Do I Need an Estate Plan? I encourage you to do so. It is a short read but paints a really good picture of who needs an estate plan and most importantly, why. You will find out that you're not too young to have an estate plan, it does not need to be expensive and there are plenty of good reasons you sh...
Posted in: TFSA RESP RRSP Financial Advice Estate Planning  

4 Ways to Save for a Down Payment on a Home

Posted by Frank Gasper on 9 March 2021
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 long as you pay it back within 15 years. If you are purchasing with...
Posted in: Emergency Fund TFSA RRSP Life Insurance Financial Advice  

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

Posted by Frank Gasper on 2 July 2020
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 ...
Posted in: RESP Life Planning Financial Advice  

An Estate Plan is the Ultimate Gift

Posted by Frank Gasper on 21 April 2020
An Estate Plan is the Ultimate Gift
What is an estate plan? An estate plan is simply a checklist that ensures your personal belongings and finances are easy to manage and distribute, exactly how you want them to be, when you die. It also makes sure your estate doesn't pay more tax or legal fees than it needs to and perhaps most importantly, it makes things so much easier for your loved ones. While the word "estate" is often associated with large properties and the wealthy, in this case, it only refers to you...
Posted in: TFSA RESP RRSP In-Trust Account (ITF) Life Insurance Life Planning Retirement Planning Financial Advice Estate Planning  

The Best Kept Personal Finance Secret: RDSPs

Posted by Frank Gasper on 24 March 2020
The Best Kept Personal Finance Secret: RDSPs
If I told you that the government would match your contribution to a long-term savings plan by 300%, would you be interested in learning more? How about 200%? Are you still listening at a 100% match? About RDSPs For individuals with any sort of disability that affects their daily life (physical or intellectual), a Registered Disability Savings Plan (RDSP) is available to them. An RDSP allows the individual (or parent/guardian) to save for the long-term in a tax-deferred account, but also...
Posted in: Budget Tax-deferred Income Life Planning Retirement Planning Registered Disability Savings Plan (RDSP) Financial Advice Estate Planning  
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