Who is Your Trusted Contact Person?
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Monica was alarmed to hear from her mother’s financial advisor expressing concern over some unusual financial requests. She called her mom, who seemed fine, but Monica couldn’t get the conversation with the financial advisor out of her head. She travelled to see her mom in person and was dismayed to discover numerous unpaid bills and an uncompleted tax return.
Her mother had always been very meticulous about money, so something was off. Monica’s concerns turned out to be well-founded. Within a few months, her mother was diagnosed with dementia.
If not for the phone call from the financial advisor, things may have been more catastrophic. He was only allowed to do...
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Interest Rates and Your Financial Strategy
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Working towards financial independence includes assumptions about how the world operates and how we navigate within that environment. These assumptions work best when the world remains the same allowing you to make reasonable future projections.
Challenges come when changes occur in the operating environment which may require reassessing wealth building strategies. The disruptions from early 2020 (Covid, supply-chains, etc.) seem to have ushered in some significant changes in our world.
The most critical change since 2020 is the amount of debt in all areas - Government, Corporate and Personal. In the next 1-5 years, policy choices by Governments - and your choices as an investor and consumer - will impact how much you can save and borrow to build your...
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How to Get Income Out of Your RRSPs
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Roger and Linda, like many Canadians, have saved for years for their retirement. They took advantage of RRSPs and now have a substantial amount of savings. As Roger will turn age 71 this year, they need to decide on the best strategy for using their RRSPs for their retirement income needs.
Until now, Roger and Linda have been relying on their non-RRSP investments and government benefits so their RRSPs could continue to grow tax-postponed. Roger has to choose from the following by the end of the year or all his RRSP funds will be fully taxed:
Take the Money and Run
Roger can withdraw all, or a portion, of his RRSP funds as cash (different rules apply to ’locked-in’ funds). This is not generally recommended because heavy taxation could result. Any amount...
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| Online Resources
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Love your family, work super hard, live your passion.
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Gary Vaynerchuk
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Manulife, Manulife & Stylized M Design, Stylized M Design and Manulife Securities are trademarks of The Manufacturers Life Insurance Company and are used by it, and by its affiliates under license. Manulife Securities Incorporated is a Member of the Canadian Investor Protection Fund. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. This article link will open in a new internet browser tab. The Advisor and Manulife Securities Incorporated, (“Manulife Securities”) and/or Manulife Securities Insurance Inc. do not make any representation that the information in any linked site is accurate and will not accept any responsibility or liability for any inaccuracies in the information not maintained by them, such as linked sites. Any opinion or advice expressed in a linked site should not be construed as the opinion or advice of the advisor or Manulife Securities. The information in this communication is subject to change without notice. This publication contains opinions of the writer and may not reflect opinions of the Advisor and Manulife Securities Incorporated, (“Manulife Securities”) and/or Manulife Securities Insurance Inc. The information contained herein was obtained from sources believed to be reliable, no representation, or warranty, express or implied, is made by the writer, Manulife Securities or any other person as to its accuracy, completeness or correctness. This publication is not an offer to sell or a solicitation of an offer to buy any of the securities. The securities discussed in this publication may not be eligible for sale in some jurisdictions. If you are not a Canadian resident, this report should not have been delivered to you. This publication is not meant to provide legal or account advice. As each situation is different you should consult your own professional Advisors for advice based on your specific circumstances. Stocks, bonds and mutual funds are offered through Manulife Securities Incorporated. Insurance products and services are offered through Manulife Securities Insurance Inc. Banking products and services are offered by referral arrangements through our related company Manulife Bank of Canada. Stephenson Wealth Services is a trade name used for dealer business only. Please confirm with your Advisor which company you are dealing with for each of your products and services. The information in this communication is subject to change without notice.
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Stephenson Wealth Services
237 Mapleview Drive E, Unit 3A, Barrie, ON L4N 0W5
Ph: (705) 726-4433
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