Life is different once your children leave home and start out on their own. Whether you have a sense of melancholy or feel free and easy as you look forward to a new chapter, it’s important to recognize that various aspects of your financial life may change.
If there’s one thing we can count on every January, it’s financial forecasts for the upcoming year. Whether online, in the business press, on television or on the radio, predictions abound on markets and the economy. The question is whether you can always trust these media reports. If you hear or read enough predictions, you’re sure to notice conflicting views—and, of course, they can’t all be right.
In a typical estate plan, each spouse leaves their assets to the other. When the second spouse passes away, assets are distributed to the children. However, an estate plan is not usually typical when you remarry and have children from a prior marriage.
The Bank of Canada’s interest rate cut in June was slight, yet significant. It was the first rate reduction in more than four years and a signal of cuts to follow, which we’re already seeing. One of the first things that interest rate cuts bring to mind is lowering the cost of borrowing, but they can also affect investment performance.
A wealth plan identifies your life goals and provides you with a personalized wealth management strategy to meet your financial milestones and achieve each objective.
Did you know that if the sole subscriber of a Registered Education Savings Plan passes away, plan assets don’t go to the child? You can correct this in your will and address these four other issues.
In the early months of 2020, the coronavirus outbreak led to a sudden market meltdown—only to be followed by a surprisingly quick recovery by the summer. Not long after, in 2022, equity markets around the world entered bear market territory. In 2023, the markets rallied.
According to Statistics Canada, the number of Canadians living alone has reached a record high. In fact, the one-person household is the most common household type. Financial life is different for singles compared to families or couples without children. Here are some...
When you raise a child or help support a dependent family member, you’re sure to face extra costs. Here are some common family and caregiving situations and associated benefits from the federal government that can help you meet your financial needs.
Treasured assets have been reluctantly sold to cover the tax payable by an estate. Here are four ways you can plan to take care of the tax bill.
Imagine your executor needing to access your bank account without your password. That’s just one reason it’s critical to include digital property in your estate plan.
Did you know that some Registered Education Savings Plan (RESP) withdrawals are taxable, while others are not? We’ve got tax-saving tips for you and your child.
In the first six months of 2023, 21,299 Canadians lost more than $283 million to reported fraud. Make sure you and your family stay alert when using your computer, phone or another device.
Learn how to save for a child’s or grandchild’s education beyond a Registered Education Savings Plan (RESP) — either to accumulate more savings or gain extra flexibility.
If you haven’t already given us the name of a “trusted contact person,” read why naming one now could help you in the future.
It’s common to think of beneficiary or legatee designations as done once and done forever. Learn why it’s important to review your designations and when to make a change.
It’s often desirable to dedicate a Tax-Free Savings Account (TFSA) to meeting a single goal. However, TFSAs can also be structured to achieve multiple financial objectives.
It’s a common misconception that if a person loses the ability to manage their finances, their spouse or child can automatically take over. Learn the truth of the matter.
Youth who develop financial literacy at home will manage money better once they leave. Find out about four principles and practices you can help them acquire.
One in four Canadian couples are in their second or subsequent marriage. See what changes in your financial life the second time around.
Important life decisions can be tough. When they involve a financial factor, as many do, we can help ensure you’ve got the information you need to make the best choices.
Can you name three things you can pay for with cryptocurrency in Canada? If you’re like most Canadians, you’re probably struggling for an answer, and this illustrates what makes cryptocurrency so unusual. Without fulfilling its purpose as a viable currency, it has become a worldwide investment phenomenon.
Recently, Canada’s inflation rate climbed to a 30-year high. While that affects our cost of living with goods and services getting pricier, rising inflation also impacts our investments. The good news is that inflation is already one of the potential investment risks that money managers and advisors monitor and respond to, as needed.
One key outcome of the pandemic is the harsh reminder that anything can happen at any time. Many Canadians recognized the importance of having a financial cushion – especially business owners affected by COVID-19 shutdowns and those unable to work.
When your investment program was established, you answered questions that helped determine how much risk you were able to tolerate. You had to imagine how you would react to a significant loss in portfolio value.
If you’re like most couples, each spouse ends up assuming responsibility for certain roles. Usually, that’s all well and good – but not when it comes to financial life.
We all like to learn about tips and tricks to get ahead financially, but not all of them are widely known. Here’s a collection of lesser-known wealth management strategies for everyone, from students to seniors.
When you think of the messaging and imagery in financial media stories and advertising, do you ever get the impression that financial planning is mainly for a couple with three kids, a new SUV and a dog?
It’s never been easy discussing financial matters with family members, whether talking to your parents or adult children. But quite often, there’s one important reason to gather your courage and have the money talk.
When fears over COVID-19 sent markets plummeting in March, investors felt the initial shock. But markets rallied in the following weeks, turning shock to a sense of hope.
Many long-term investors wonder if they should take action when markets suffer a downturn or become volatile. Should you sell equities and turn to the safety of cash?
If you take a minute to think about any retired individuals or couples you know of, you’ll probably note a variety of different retirement lifestyles and personalities.
Say that a couple is struggling with a decision about whether to help their child purchase a home. The couple wonders, and worries, if the cash outlay will interfere with their retirement.
A sum of money lands in your lap, perhaps a tax refund or an inheritance, and you’re overcome with the urge to splurge on lavish purchases. That’s the windfall syndrome – if it’s not from your regular paycheque, it’s free money.
Many life decisions can be difficult, but when they involve a financial component, input from your lawyer, accountant or advisor could help in some way. Here are a few scenarios to illustrate how such input can make a difference.
When your home represents a sizable portion of your net worth, you might wonder if downsizing would give you a more comfortable retirement. It’s a decision that not only involves financial planning, but practical and psychological factors as well.
Today’s youth may prefer to pick up information online, but when it comes to learning about financial life, parents still have some influence. Here are a few teaching moments.
One factor drives many decisions behind naming a beneficiary for a Registered Retirement Savings Plan (RRSP) or Registered Retirement Income Fund (RRIF).
Your portfolio represents your future, so it’s only natural to want to monitor how your investments are doing. How often you need to check largely depends on the type of investor you are.
If a parent bases post-secondary education savings on average costs, the amount needed for tuition would be $6,838 for each academic year, based on the 2018/2019 average for Canadian universities.
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At Endurance Wealth Partners, we’re here to help you simplify your financial journey. Whether you have questions, need advice, or are ready to take the next step, we’d love to hear from you!