Financial Wisdom

April 2021

Questions. Questions. Questions.

It is increasingly difficult to ignore some of the trading action in the markets that is causing surprising moves in equity values while the underlying economy continues to struggle (refer to U.S. unemployment data, for example).

This type of divergence has occurred in the past and at some point, the values reflected in the stock, bond and real estate markets are expected to closely reflect the underlying economy eventually.

But in the meantime, the question is how do you invest today? Do you decide to invest conservatively, knowing that at some unknown time in the future...

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Time-Tested Money Management Strategies

As we grow up, what we learn about money from our parents can significantly influence how we earn, save, and grow our wealth. Meaghan, an elementary school teacher, credits her mother for her healthy approach to finances today. "I was lucky to grow up understanding that I could control my financial future if I was smart about it."

There’s a lot to be learned from a generation that knew how to manage their finances and feel optimistic about the future. Consider these time-tested principles that you can use to enhance your relationship with money.

Live Within Your Means

Living within your means starts with...

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Preparing for Retirement? Learn How RRIFs Work

If you’ve been contributing to a pension or Registered Retirement Savings Plan (RRSP) and retirement or your 71st birthday is around the corner, you’re required to convert that nest egg into a Registered Retirement Income Fund (RRIF). This benefits you because an RRIF allows you to withdraw savings as income while still letting you grow your investments and minimize taxes.

The primary difference between an RRSP and an RRIF is that RRSPs are designed to accumulate savings throughout your lifetime, while RRIFs provide you with income during your retirement years. Like RRSPs...

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Two roads diverged in a wood and I took the one less traveled by, and that made all the difference.

Robert Frost

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Bruno M. Scanga
1913 Dundas Street East, Whitby, ON L1N 2L5
Ph: (905) 728-6956