An ETF is a commonly used abbreviation for Exchange Traded Fund. Canada was the first country to launch an ETF in 1990 with one provider. Known as the S&P/TSX 60 Index, it essentially held the largest 60 stocks in Canada. This ETF still exists today and trades under the symbol XIU. When this ETF was […]
At the end of each year, we ask our clients to provide an estimate of their income. The income sources we want to approximate are those that we may not be aware of, such as Part-time work, full-time work, Registered Pension Plan payments, Canada Pension Plan, Old Age Security, and any other sources of income […]
We have had many discussions with our clients about whether or not to financially assist their adult children with purchasing a home. Some feel that if they help their children, by giving them money, they may never build a work ethic or understand the value of building wealth. That may be true. On the flip […]
Financial success often involves making good decisions and avoiding big mistakes. Parents who spend the time to teach their children the basics of finances will help start them off on a more informed path. One of the first big decisions your adult child may make is with regards to the purchase of a home. They […]
Last week, we encouraged those individuals interested in purchasing either a condo or a single-family dwelling to understand the financial numbers and to set goals. I have heard many people say that the prices in Victoria are excessive and that it is impossible for young people to purchase a residence. It may be more difficult […]
One of the most rewarding investments is the purchase of a principal residence. Getting away from paying rent and building equity can be a significant financial step in the right direction. Many younger people today may not know the numbers regarding what it would take for them to make such a significant purchase. My recommendation […]
About 15 years ago, I had a client with a terminal illness. Her biggest concern wasn’t about her own health, but rather who was going to take care of her dog after she died. I hadn’t really given that type of question a lot of thought until that day. Today, one of the questions we […]
Over the years, we have helped clients overcome many different challenges. This article focuses on the challenges of looking after our parents as they age. This is a complex responsibility as it involves emotional and financial management. Handling these effectively requires different skills. Below are a few points to assist with the financial challenges. Our […]
Your will is essentially a document that outlines what you want done with your assets after you pass away. The term asset is very broad and can include everything from personal and household effects (“articles”) up to your principal residence. The general structure of a Will typically starts with leaving specific bequests. This can be […]
One of the first roles of an executor of a will is to gather and secure their client’s assets. This process includes ensuring the principle residence is locked and all known assets are secured. The executor has a fiduciary responsibility to do this for the benefit of all beneficiaries. One of the challenges an executor […]
