On Tuesday March 28, 2023, Deputy Prime Minister and Minister of Finance Chrystia Freeland presented the 2023 federal budget, which contains several measures of interest to IG Wealth Management and its clients.
It’s tax season, a time when many people’s thoughts turn towards their tax refund and what they’ll do with it. Should you put it towards your mortgage, add it to your RRSP or make a TFSA contribution? While many financial institutions often recommend one of those options, we might suggest a different one: don’t get a tax refund at all.
When it’s time to retire, many Canadians have several sources of income. We look at which sources you should draw from first to help minimize taxes.
Getting your retirement plan right is crucial; you need to be confident that your money will last throughout your retirement, while giving you the standard of living you need. That’s why it’s important to have a solid financial plan and also dependable advice. There have been a number of myths about retirement planning circulating for years that can have a negative impact on your retirement plans. Let’s take a look at some of the more common ones and the reality that lies behind them.
If you are heading toward retirement with a well-balanced portfolio of assets and/or guaranteed income sources such as an employer pension, you may already have enough anticipated resources to create a life-long income stream.
Looking ahead to 2023, we’re feeling more optimistic towards both the equity and fixed income markets (we’re confident they’ll soon come out of their troughs). At the same time however, the probability of an economic recession in Canada and the United States is more likely. We also expect to see peaks in inflation, interest rates and economic activity.
iProfile is a comprehensive asset management program that helps investors maintain optimal diversification among different asset classes and management styles based on their personal preferences and investment goals.
As a business owner, having a well thought out tax and estate plan is key for financial success.
When an estate or gift is left to a child, it can be subject to a family property claim if the child later separates or divorces. But, there are ways to protect the inheritance, ensuring your child remains the sole beneficiary.