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    A registered disability savings plan (RDSP) is a savings plan intended to help parents and others save for the long-term financial security of a person who is eligible for the disability tax credit (DTC).  Contributions to an RDSP are not tax deductible and can be made until the end of the year in which the beneficiary turns 59. Contributions that are withdrawn are not included as income to the beneficiary when paid out of an RDSP. However, the Canada disability… Read More »RDSPs

    RESPs – Registered Education Savings Plans

      Education Savings Many parents wonder how much to save for their child’s education. They also wonder how soon they should start. The answer is simple. Save Early, Earn More. Even small savings each year will translate into substantial savings later. Registered Education Savings Plans A Registered Education Savings Plan (RESP) is a special savings account for parents who want to save for their child’s education after high school. Family plan A family plan is ideal if you have more than… Read More »RESPs – Registered Education Savings Plans

      Supplemental Health Insurance

        To figure out if supplemental health insurance is a cost effective choice you need to calculate the costs of the services you need. You can then either self insure and save up the money throughout the year to cover these costs  or  look at getting a supplemental health insurance plan to cover some of these costs. Be careful when looking at health plans that you consider maximums, restrictions and deductibles.   A couple of supplemental health insurers to check out:… Read More »Supplemental Health Insurance

        Grey Cloud

          After being in the Financial Industry 20+ years I have found that the following steps can help you get your financial life on track: The Number one Priority is setting and sticking to a BUDGET.  I know, it’s not much fun – but how much fun is it living with financial stress?  I strongly recommend that you (and your partner) select one day a month for your budget meeting – maybe the 17th of each month?  If you have a… Read More »Grey Cloud

          Executor Duties

            A loved one or executor should contact, if applicable: Utility companies (where the deceased had services) Financial institutions (where the deceased had accounts) Insurance companies (where the deceased had policies) Canada Revenue Agency (income tax and benefits) Service Canada (Canada Pension Plan, Old Age Security, Employment Insurance benefits) Provincial health insurance Ministry of Transportation (driver’s license) Immigration, Refugees and Citizenship Canada (passport, permanent residence card) A deceased CPP contributor is generally entitled to a CPP Death Benefit of up to… Read More »Executor Duties

            Establishing a Trusted Contact Person

              A “Trusted Contact Person” (TCP) is someone who you have authorized as a point of contact for your advisor if your advisor has concerns you are being financially exploited or are showing signs of diminished mental capacity. Your TCP cannot make financial decisions on your behalf, nor can they make transactions or changes to your account. They also cannot be given access to information about your account. You can appoint more than one TCP, and you can change them at… Read More »Establishing a Trusted Contact Person

              How to Eat an Elephant

                The common response to the question, “How does one eat an elephant?” is, “One bite at a time”. Similar advice is routinely offered to anyone setting off on an unfamiliar trek, “A successful journey starts with the first step.” When it comes to developing a funding plan for University, the same daunting question arises, “Where do we start?” Just like developing a plan for vacation, some simple initial steps are required. First, before committing to a particular vacation destination, one… Read More »How to Eat an Elephant

                Getting On In Regulation

                  For many of us, just getting on is an accomplishment and getting on in regulation is a dream come true. Getting on in regulation gives us a great chance to make par and from time to time even a birdie. Finding ourselves on the putting surface tends to reduce the pressure of getting the ball up and down for a par. Unfortunately, there are times when we three putt, but hopefully those are few and far between. There are many… Read More »Getting On In Regulation

                  New Grips

                    Golf technology is changing almost faster than one can keep up and if you are serious about your game then you may need to get rid of the persimmon head driver your father left you and look into what is available today. For us weekenders, keeping up with the newest equipment and buying new clubs is probably not going to have that big of an impact on our game. Remember it is not the club but the swing which is… Read More »New Grips

                    Fair Weather Golfer

                      Bob Hope once said when asked about his golf ability that he shoots in the low 70’s. He said he does not like to play if it gets any hotter than that. A temperature of 70 and no wind sounds perfect, but those days are rare unless you are fortunate to live in San Diego. For the rest of us, we are forced to play in all different kinds of weather. Perhaps you have been known to tee it up… Read More »Fair Weather Golfer

                      Hook Or Slice \ Fade Or Draw

                        Every golfer understands these terms. The Fade or Draw are both good shots and shots that every golfer would like to have the ability to hit upon command. Usually, our natural shot is either one or the other and few can master the ability to hit either. The difference between a Fade or Draw and a Hook or Slice is control. The Hook and Slice are both out of control shots. The hook is an out of control draw and… Read More »Hook Or Slice \ Fade Or Draw

                        Course Management

                          Course management, what is that? For many of us the closest we come to course management is trying to decide which course to play? The professionals walk the course with their caddie and play every shot in their mind before they even get out their clubs. They have determined which holes favor their game and which have the potential to cause them trouble. They know where the best opportunities on the course lie for them to be aggressive and which… Read More »Course Management