SERIES: FREQUENTLY ASKED QUESTIONS #3

WHAT IS A TFSA (TAX FREE SAVINGS ACCOUNT) ?

We have clients that have heard the name, but most people don't know exactly what it is. A common question around our office is "What is a TFSA?" Usually followed by "I thought I could only invest it in a savings account.

Here's where I usually say "Pretend your TFSA is a box that can hold any type of investment and it can stay in that box tax free and you won't have to pay tax on anything you take out of the box" ... see it doesn't have to be confusing!

And I'm sure my clients are now nodding and saying yes, I've heard that one before.
- Jodi

We truly appreciate your testimonials 🥰

We truly appreciate your testimonials 🥰

We both came away from our meeting with you this morning with a sense of relief knowing that you are looking after our investments and we are in good hands.

It is overwhelming for us to have so much money when we have made do on one salary for so many years. You have certainly eased our minds with your financial advice and the plan you have developed for us. Thank you
-J& A

SERIES: FREQUENTLY ASKED QUESTIONS #2

What is an RSP?

We love what we do, and we love to
make the complicated easy to understand
I get A LOT of questions regarding types of investment plans. People will come in to see us for the first time, we will be chatting about things like their investment experience and investments they currently own and inevitably this is how it goes:

They'll say:
"I have a RRSP" and I'll say so what is it invested in and 95% of the time they will say: "I don't know it's a RRSP"

Here's the thing ... a RRSP is just an investment vehicle, a type of account.

Here's how I like to describe it:
I like to say it's just a box. Picture types of plans as boxes. You can have a RRSP (Registered Retirement Savings Plan) box, a REP (Registered Education Savings Plan) box, a TPSA (Tax Free Savings Account) box etc. Any type of investment can go into any of these boxes. Let's take a RRSP as our example:

A RRSP is a box that almost any type of investment can go into. You put your money in that box and you get a tax break. That box gets tucked under your bed and you take it out at retirement. Anything you take out of the box is taxed in the year you take it out ... Pretty simple right?

IT'S JUST A BOX! 📦

As always let us know if you have any questions or if you want to learn more
- Jodi

SERIES: FREQUENTLY ASKED QUESTIONS #1 WHAT ARE YOUR CREDENTIALS?

I am a Certified Financial Planner. 2022 marks my 21st year as Certified Financial Planner. Although I've been in this business for 25 years now, 21 Years ago I decided to go the added mile for my clients and myself and take the education to become a certified specialist in financial planning. It was one of the most challenging periods of my life, taking courses with a young family at home, while being in the office full time, but so worth it.

CFP's follow a strict code of ethics and must maintain many hours of continuing education each year.

To learn more about what a CFP can do for you and what it means to me, please see the following links:

Benefits of working with a financial professional (swift to see attached photos)

Video - What is a Financial Planner? https://www.financialplanningforcanadians.ca/financial-planning/what-is-a-financial-planner (link also in bio)

- Jodi Dark

National Dental Care Program 🦷

Budget Highlight! 🚗 🔌

Anti-Flipping taxes 💰

HOME ACCESSIBILITY TAX CREDIT

Multi-Generational Home Renovation Tax Credit

HOME BUYERS' BILL OF RIGHTS

🏡 🌟 ENHANCED FIRSTTIME HOME BUYERS' TAX CREDIT 🌟🏡

The enhanced credit will double the first-time home buyers' tax credit amount to $10,000 (from $5,000).

BUDGET HIGHLIGHT: TAX FREE FIRST HOME SAVINGS ACCOUNT

Save up to $40,000 toward the purchase of a first home. Contributions will be tax-deductible and can be withdrawn tax free.

2022/2023 CANADA'S BUDGET REFLECTIONS SINCE THE LAST BUDGET*

The Federal government's budget on April 7, 2022 introduces changes that may affect your individual and family finances.

Canadian Dollar vs. the U.S. Dollar 💰
79.47¢ APR 7, 2022 vs
79.88 APR 19, 2021 BUDGET
S&P/TSX

Composite 📈
21 834.89 APR 7, 2022 vs
19.204.40 APR 19, 2021 BUDGET

Oil Price per Barrel in SUSD ⛽️
$95.51 APR 7.2022 vs
$63.38 APR 19, 2021 BUDGET

Unemployment Rate 💼
5.30% APR 8, 2022 vs
$8.10 APR 19, 2021 BUDGET

Get Started

Start TODAY

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Start TODAY 〰️

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We always enjoy sharing sometimes.

SETTING UP YOUR ONLINE ACCESS

Setup your Access Today!

〰️

Setup your Access Today! 〰️

Want to make your personal banking easier? Have you thought of creating a personal financial website that you can share with your spouse or family members? It’s an easy, secure and convenient way to share your financial information.

ARE YOU LIVING BEYOND YOUR MEANS? PART 2

Do you spend time wondering where your money goes?

Do you feel that you don't have enough money?

Sometimes spending can get out of control. Bad habits can creep up on us without us without realizing it. Those little expenses add up and turn into big ones, and before you know it, you're living beyond your means. Lifestyle inflation is a habit that we see develop sometimes.

There is some good news. By educating yourself and approaching this with intention and focus, you can better control overspending

Changing your habits and lifestyle might seem hard, but you'll find it is rewarding.

Start budgeting, saving, and investing today. Once you see some progress toward your goals, you'll be motivated to reach your goals.