Author Archive for: Advisorsavvy

Your Year-End Financial Checklist: 6 Actions For You To Take

On top of looming winter, Canadians have to deal with tax season this time of year. While taxes and dealing with your finances can be bland, we’re here to make it a little easier and understandable. Since finances are already at the forefront of Canadian’s minds right now, it’s an optimal time to review and adjust your general finances as well. In this year-end financial checklist, we offer a comprehensive list of what to consider on an annual basis. The importance of an annual financial check-in Most people have financial goals they’re trying to achieve. These could be short-term or long-term. For example, saving for your next vacation is likely a short-term goal. Whereas saving for a down-payment on a home or retirement may be a long-term goal.  Regardless of your specific goals, an annual financial check-up is important for tracking your progress. By revisiting your finances yearly, you can review how you’re doing and reassess your goals. Perhaps you

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How Much Do Home Renovations Cost? A Complete Guide

Did you know that, according to a HomeStars survey, almost three-quarters (74%) of Canadian homeowners planned on improving their homes in 2021? Many Canadians have transitioned to fully remote work, meaning they’re spending more time enjoying their homes — no doubt coming across rooms and features that need sprucing up. HomeStars found that 54% of homeowners were planning on improving their outdoor space this year, with 29% citing that they want to better enjoy the space. Other top renovation projects include bathrooms (32%), kitchens (23%), basements (17%), and appliance repair/replacement (12%). Even with the pandemic behind us, home renovations can greatly improve your quality of life! Another big reason why Canadians are renovating? The desire to age in place. 79% of respondents said they are planning on staying in their homes as they continue to age, and 50% said they were renovating to ensure they could do so. Homeowners have been sprucing up their homes for decades — and they’ll

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What Is An RESP And How Does It Work?

Funding post-secondary education in Canada is becoming more and more costly. Long gone are the days when working a summer job paid for a year of school. If higher education is in your future, ideally you or your family invest in an RESP — and have been for a while.

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What Is The Lifelong Learning Plan?

RRSPs exist as a way to help Canadians save for the future. And as an added bonus, it shelters your income in a savings vehicle the government doesn’t touch until you’re ready to retire. However, what if you want penalty-free access to the money before then? The Lifelong Learning Plan is one way to safely unlock those funds.

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What Is A Spousal RRSP?

Are you one of the all-too-rare, but lucky, people with a solid pension waiting for you in retirement? For those of us who aren’t so lucky, it’s wise to start investing in RRSPs as soon as work-life begins.

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How To Invest In Stocks

The stock market can feel like a vast abyss into which you throw your hard-earned money. And, it can be hard to decide how best to invest, much less the best stocks to choose from.

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How To Buy Stocks

How many movies have you seen that show the madness on the stock trading floor? The reality is, of course, that the stock market is a hot investment tool. And, people can and do make a lot of money by investing in stocks. But there is a lot to know about how to buy stocks.

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The Best Robo-Advisors In Canada

However, there are some fairly trustworthy places to invest that should give you returns and security. If you’re new to investing and not sure what to do, a Canadian robo-advisor might be a great choice.

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What Is Home Insurance?

Insurance is one of those things that you pay and pay — and pay. Yet, you hope you never actually have to take advantage of the service you’re paying for. It’s there for times of trouble or disaster. And you need to have that peace of mind, but it comes at a price. And protecting your biggest asset with home insurance is essential.

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RRSP Withdrawal Rules: What To Know

Registered Retirement Savings Plans (RRSPs) help you save for your future. But many Canadians may want or even need, access to that pot of funds early. If that’s you, it’s important to understand RRSP withdrawal rules so you can make the best decision for your situation.

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What is Financial Planning?

Financial planning is the best way to manage the waxes and wanes in your financial situation. It allows you to live comfortably, while saving for a rainy day and, eventually, retirement.

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