Is an RRSP still worthwhile?

There’s a myth that surfaces every once in a while. It suggests a Registered Retirement Savings Plan (RRSP) isn’t worthwhile because of the tax on eventual withdrawals.

Everyone needs an emergency fund—here’s how to build yours

An emergency fund is a core part of every financial plan. It’s easily accessible money you can draw on to cover a period of unemployment, repairs to your home, major appliances or car, or any other unexpected essential expense. With Canada’s economy slowing and prices continuing to rise, this type of “just in case” or “rainy day” fund is more important than ever.

Ways to give to grandchildren

Giving a financial gift to a grandchild can be tremendously satisfying, knowing you’re helping to make a difference in a loved one’s life. The first step is choosing when to make a gift.

Your Pre-Trip Financial To-Do List

Planning a trip? Here’s your financial to-do list

Swimsuit, sunglasses, sandals, t-shirts, shorts. Toss them in a suitcase and you’re ready to head to a sun destination. Or are you? Take care of these five financial tasks to avoid money problems while you’re away or when you get home.

How sustained high interest rates may be affecting you

Starting in March 2022, the Bank of Canada began increasing its benchmark interest rate to help control inflation. In a series of 10 increases, the rate went from 0.25% to 5.00%. That’s a significant move in about a year and a half—and it’s affecting people differently depending on how they borrow and how they invest.

Have you planned for digital assets?

If you haven’t accounted for your digital property in your will or another document, you’re not alone. This is often overlooked when planning an estate.

Preserving estate assets for your heirs

The first things that come to mind when you think of estate planning might be your will, beneficiaries and executor or estate administrator. However, another key element is planning for the tax liability on your estate’s assets.

How to pay little or no tax on RESP withdrawals

Withdrawals from a Registered Education Savings Plan (RESP) are different than those from other registered plans. With an RESP, some withdrawals are taxable, while others are not.

This means you need to do some tax planning when you withdraw funds.

Why you should watch out for phishing, smishing and vishing

You may think you’ll never fall victim to phishing attacks, but new technologies are making online and phone scams more dangerous. Also, other family members could be at risk.

How is the FHSA (First Home Savings Account) taxed at death?

At Spire Advisors of Assante Capital Management Ltd. we take a holistic approach to your financial planning, which means that we plan ahead – past lifetimes, when necessary – to ensure that optimal decisions are made today, in support of the best possible outcomes tomorrow. With the introduction of the tax-free First Home Savings Account, we can consider new options for first-time homebuyers to take advantage of over the course of their lives; and (although sad to think about) we must also consider the options and implications of the FHSA after death.