What is a beneficiary in Canada?
A beneficiary is the person, people or organization you name to receive money or assets when you die, such as a life insurance payout, RRSP, RRIF or TFSA balance. By naming a beneficiary, you choose who gets the money and help it pass directly to them, often faster and with fewer fees than if it […]
Is Life Insurance Taxable in Canada?
For many Canadians, life insurance is a key part of their family’s financial safety net. A common worry is, “Will my family have to pay tax on the payout?” In most cases, the answer is simple and reassuring, which is that your life insurance benefit is usually paid out tax-free. Key Takeaways For most Canadians, […]
Canada Emergency Benefit Account (CEBA) Update – [January 2021]
In this blog entry, I’m thrilled to bring you up to speed with the recent developments regarding the Canada Emergency Business Account (CEBA) as of January 2021. One of the standout features of CEBA is the simplicity of its application process, which offers a welcomed reprieve from the typically complex and standard application prerequisites found […]
RESP 101 | Everything You Need to know about the Registered Education Savings Plan in Canada
Are you aware of an investment approach that guarantees a 20% annual return, carries no risk, and has the support of the Canadian government? This approach is known as the Registered Education Savings Plan (RESP). In this article, we’ll explore how RESPs work, the advantages of choosing an RESP, how it stacks up against other […]
Is It Better to Take Canadian Pension Plan (CPP) Early?
Curious about the optimal moment to start tapping into your Canadian Pension Plan (CPP) as someone living in Canada? Questions such as “what will my CPP payout be if I commence at age 60?” or “is it advantageous to initiate my CPP sooner?” might be on your mind. Recognize that each individual’s circumstances vary, however, […]
Tips to Save on Taxes
Retirement Planning Vancouver | Tips to Save on Taxes Were you aware that the heaviest financial load on families comes from taxes? This phenomenon has remained true since the 1960s. In Canada, families see 45% of their income claimed by taxes. Furthermore, inflation is increasing. A substantial portion of what we earn by the hour, […]
Life Insurance Vancouver | Retirement Plans
Life Insurance Vancouver | Retirement Plans Thomas Chan stands as your reliable guide for financial matters, specializing in life insurance services in Vancouver. He commits to improving your financial health and raising the standard of your living. Since the 1960s, a great number of families have faced substantial financial hurdles because of tax issues. Thomas Chan […]
Should you consider getting an RRSP loan?
Should you get an RRSP loan? Our discussion regarding RRSP loans can be summed up in a basic piece of advice: don’t do it. In the article I’m working on, I intend to explore the intricate aspects of RRSP loans, evaluating their advantages and disadvantages, and pondering over the prudence of securing a loan for […]
Retirement Planning Vancouver | Sharing Life Plans
Retirement Planning Vancouver | Sharing Life Plans Retirement Planning Vancouver highlights that many young individuals, after finishing their education at universities or vocational schools, are eager to move forward in their lives. With their professional. As well as with their personal life. They don’t yet have quite the idea of, nor do. Do they consider […]
RRSP 101
The Registered Retirement Savings Plan (RRSP) serves as an essential financial instrument aimed at helping Canadians get ready for their post-working years. This comprehensive RRSP guide will tackle all the critical information you must understand about them. The Canada Revenue Agency (CRA) offers enticing tax advantages for RRSP contributors, and my objective is to guide […]
