Cyber Security - Series -Part #7

Browser in the Browser (BitB) Attacks are a kind of phishing attack, first written about in March 2022, where threat actors will attempt to steal your login credentials.

Threat actors create and direct you to a website that gives you the option of using single sign on (SSO) through a trusted sign-in partner rather than creating an account.

Instead of linking to the actual sign-in partner you select, a false pop-up mimicking a browser window appears, with the intention of capturing your account information. The false pop-up will appear to have the correct URL and can be quite convincing but is a trick of website design.

BitB windows cannot exist outside of their browser window, and so can’t be dragged outside of the browser frame. Password managers will also not be fooled by BitB false pop-ups and will not fill in your credentials. Watch for these clues!🔒💻

Cyber Security - Series -Part #6

In our ongoing exploration of cybersecurity nuances, we address a critical concern in Part 6: MFA Fatigue Attacks. 🌐

A MFA (Multi-Factor Authentication) Fatigue Attack unfolds as threat actors inundate a user's device with a relentless barrage of MFA Authentication requests. The strategic intent is to compel users into reflexively accepting the requests merely to quell the incessant notifications.

Under the guise of a perceived issue with the notification system, users unwittingly grant threat actors access to their accounts. Despite this, MFA remains an indispensable tool for securing accounts, emphasizing the need for strategic implementation.

To fortify against MFA Fatigue Attacks, consider refining authentication practices. Disable push notifications and simplistic "approve sign-in" requests, favoring more robust methods such as numerical codes via mobile devices or authentication applications. Additionally, explore mechanisms to limit the frequency of MFA requests, thereby bolstering overall security measures.

Elevate your cybersecurity vigilance to thwart evolving threats. 🚀💻

Cyber Security - Series -Part #5

🚨 Brace yourselves for Part 5 of our Cybersecurity Series: Unmasking the Menace - Man in the Middle Attacks! 🕵️‍♂️💼

Ever heard of a Man in the Middle (MitM) Attack? 🌐🔒 It's when a sly threat actor sneaks in to intercept your sensitive info while you're busy transmitting it. 😱 They could be eavesdropping on your data, gaining access to your account, or even impersonating a trusted party to snag your precious details!

Picture this: A fake login page, a crafty trickster, and BOOM – your MFA codes are compromised! 💻🤯 Or worse, they could be tampering with your bank communications to reroute those hard-earned money transfers! 😨💸

Stay one step ahead! 🚀💪 Learn about these cyber sneak attacks and fortify your digital fortress. 🔒💻

Cyber Security Series- Part # 4

🔒 Level up your cyber game with Part 4 of our Cybersecurity Series! 🚀💻 Today's tip: Master the art of Strong Passwords! 💪🔐

Ditch the weak links – opt for passwords that are long, complex, and totally random! 🤯 Say NO to password recycling – even those "unimportant" sites deserve top-notch security. 🚫🔄 And remember, sharing is NOT caring when it comes to passwords! 🤐

🌐 Unlock the secret to password perfection: Get yourself a trusty Password Manager! 🗝️✨ It crafts robust, lengthy, and unique passwords for every online adventure, requiring only ONE master password to rule them all! 🌟💼

Cyber Security -Series-Part #3 - Use Multi- Factor Authentication

Multi- Factor Authentication (MFA), also known as two-factor authentication (2FA), is a way to protect your online accounts. Instead of only asking for a username and password, MFA requires one or more additional verification factors, like a time limited code or fingerprint.
We will highlight some of the dangers associated with MFA and the potential attacks. However, MFA remains one of the best methods of securing your accounts. According to a study by Microsoft, using MFA can reduce your risk of having an account hacked by as much as 99.9%.

Cyber Security Series Part #2

With the rise in social media-based attacks, it is more important than ever to keep your social media secure. There are simple steps you can take to stay safe on social media:

• Use MFA (Multi Factor Authentication) whenever possible. This extra layer of protection can keep your account secure even if your username and password become compromised. Google Authenticator, Microsoft Authenticator are a few examples.

• Use good password hygiene. Don’t reuse passwords and use passwords that are long and complex.

• Think before you click! Remember, if someone is offering you something that seems too good to be true, it probably is.

• Report accounts that appear to be compromised. The sooner the account is returned to its rightful owner, the less damage it can do.

• Be careful what you share. Do not freely give away details that could be used in a social engineering attack against you and be careful sharing personal information that could be used by a threat actor looking to impersonate you.

Cyber Security -Part 1

Each year, we must complete security safety courses.
When it comes to security, change is constant. The threat landscape continues to evolve, and the tools available to threat actors become more sophisticated.

We review these cybersecurity incidents not to shame or to frighten, but to empower you to know how to defend yourself. You are the first line of defence against cyberattacks, and the small choices you make every day can keep you secure.

In this series, we will review some of the details we feel are important.

Part # 1 Keep Your Devices Up To Date

Keeping your devices up to date ensures that you always have the most recent security updates. Updates often include fixes to repair vulnerabilities, which threat actors can take advantage of to comprise your accounts. We recommend turning on automatic updates on all devices whenever possible.

Supporting Retirees

One of our retired clients approached us earlier this year asking about leaving a legacy.

They were reflecting on their estate plan and how to create a lasting impact for causes they were passionate about. We created a strategy using a Donor Advised Fund to help them align their charitable giving with their goals, maximize tax benefits and engage in purposeful philanthropy.

Donor Advised Funds (DAFs) are an excellent choice for retirees seeking to create a meaningful legacy Contact us for more info.

NEW INFORMATION ON TFSA INCREASES IN 2024

Higher inflation is set to push the TFSA dollar limit to $7,000 in 2024, up from $6,500 this year.
That means the total contribution room available in 2024 for someone who has never contributed and has been eligible for the TFSA since its introduction in 2009 is set to be $95,000, up from $88,000 this year.

Let us show you how to earn a tax-free stream of income in retirement.

Want to know when the best time is to withdrawal your CPP?

Want to know when the best time is to withdrawal your CPP?

People should be very careful about taking CPP early because it can have a huge impact on how much you get.

Did you know, for example, that the average payout from CPP is less than the maximum Old Age Security payout? Did you know that in 2012 less than 10% of people on CPP got the maximum of $986.67 a month? Do you know why?

One reason is because they haven’t contributed enough to draw the maximum. To get the max from CPP, you have to
have contributed the max for 39.5 years between the ages of 18 and 67. The CPP formula allows you to drop about seven of your lowest-paid years. But if you plan to go back to school, stay home with children, or earn less than the year’s maximum pensionable earnings (YMPE), which is $51,100 for 2013, you may fall short of the maximum and so will your CPP cheques.

Another reason people get less than the maximum is because they take their benefits before the age of 65.

Did you know that when you take your CPP early, the amount you receive is reduced based on your age? New rules have come into effect that reduce your payout by 31.2% if you take it at age 60, and that will keep going up each year until it hits 36%.

Wait to take your benefits and you’ll avoid the reduction. Wait longer and you could see your benefits go up by 42%. So, the difference between taking it at age 60 or at age 70 would mean up to 78% more in income.

Did you know that your CPP maximum is capped at the maximum you’re entitled to when you first draw your pension, plus inflation adjustments? If you took your benefit at 60 in 2003, you’d be working with a maximum cap of $801.25. If you waited until 2013 when you turned 70, your maximum cap would have risen to $1,012.50. Having a higher cap can be particularly important if you try to claim survivor benefits from CPP.

There is no easy answer when it comes to CPP. You must do the math to see what’s going to be best for you based on your contributions, how much you’re counting on that money for your needs, and how long you’ll live.

You can access the information online or by calling to find out more about what your payments would look like.

Tips to Grow Series- #5

Life Events

Buying/selling a home, having a baby, leaving your job, getting a divorce, family member passing away, retiring, getting married.

These are all important moments to tell your advisor about.

We help you prepare for the expected, and the unexpected.

Tips to Grow Series- #4

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Forward thinking can help you plan.

Estate planning is essential to ensure your wishes are carried out as intended.

Most of us know you should do it, but it’s a tough reality to face. Estate planning is a process that many people put off, and you’re certainly not alone if you have yet to begin.

Over half of Canadians, approximately 51%, do not have a will. And for the 15 % of those that do have a will, it’s not up to date.

When someone dies without a will, they get no say in who receives their assets. Guardians for minor children are chosen by the courts. And, in the worst instances, families can be torn apart over inheritance disagreements.

These are not pleasant situations; however, they do happen. The good news is, creating a plan now can ensure your assets are passed on as you wish.

This leaves you to think about the future and know that your family is cared for, and the stress over handling your affairs is reduced during an already difficult time.

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Tips to Grow Series -#3

The Dollar Cost Averaging (DCA) advantage
Financial markets are unpredictable with ups and downs. This can trigger a range of emotions, from joy and excitement when prices are up, to anxiety and panic when values head downward.

There are some investors who get caught up in the fear of missing out. They try and buy when a fund is doing well. And then there’s the nervous investor who, fearing the worst, sells a fund when the price drops.

In both market scenarios, investors are making quick decisions that could seriously affect an investment portfolio. But a DCA approach can help take emotions out of the equation.

Here’s some info to think about:
Start a systematic payment. By adding the same amount of money and investing on a regular schedule, regardless of market fluctuations, to buy funds. ( i.e. Starting a PAC to add $100 / month on the 15th)
When prices are high, this regular, recurring amount buys fewer units.
When prices are low, that same amount buys more units.

Depending on the average purchase price per unit over a given period, you may actually end up paying less per unit over the long run – therefore acquiring more units than if you had made a lump-sum purchase.

Most importantly, you’re investing regularly without being affected by the emotional highs and lows of market volatility.

Starting a systematic investment strategy has benefits. Now, instead of trying to time the market and hoping to buy when prices are low, let the law of averages and the DCA approach work in your favor.

Schedule a meeting with your advisor to review your investment goals and discuss whether DCA makes sense for you.

Tips to Grow Series- #2

When do I have a capital gain and what is an ACB?
(This is for Non-Registered Accounts only)

When you sell an investment that has increased in value, you may realize a capital gain. As an investor, you realize this gain when you sell all or part of your investment. The gain is calculated when you subtract the selling price of the investment from your ACB (Adjusted Cost Base). The ACB isn’t always the purchase price but is the amount of the investment that has already been taxed. If you’ve received a distribution from your investment at any point when you have owned it, you will have been taxed on this in the year you received it. This will then increase your ACB. This prevents you from being taxed twice on a gain.

You may also incur a capital gain if a fund manager sells an investment that has gone up in value. In this case, the fund realizes a capital gain (which is calculated the same way as above), and this gain flows through to the investors holding the fund. As a result, you may receive a tax slip for these gains even though you did not sell any of your investment. This will increase your ACB, so, once again, you will not be taxed twice on these gains.

Your ACB can change if you:
Buy units of the same fund at different times. Your cost will then be averaged out which will affect your ACB.
Receive a distribution. It won’t matter if you receive this distribution or reinvest it, you will still be taxed in the year you receive it.
Receive return of capital. This occurs if your investment pays you a return of capital, this portion is not taxable to you because you’re taking your own money out, therefore when you sell your investment, any return of capital is subtracted from your ACB which will increase your capital gain.

Any questions please give us a call.

Tips to Grow Series -#1

Tips to grow 📈

Pick a debt payment method 💵

Do some research and find the method that works for you. Here are two types of debt payment methods, the Snowball and the Avalanche methods. Both methods were created to help you pay off your debts in an easy organized way!

Snowball Method
This method is used by Dave Ramsey. Focuses on paying the smallest balance first. This helps you build momentum quickly! Once one debt has been paid, then move on to the next and so on.

Avalanche Method
This method focuses on targeting the highest interest balances first. This option saves you more money in the long run.

You can always mix the two methods to create a system that works for you! No matter what method you choose, you still must pay the minimum monthly payments.

Sandwich Generation: Are you taking care of yourself?

It’s a significant life change when your roles have reversed and you’re the one helping a parent with daily living. Meanwhile, you also care for your children at home. Welcome to the sandwich generation.
The term was coined almost 40 years ago by social worker Dorothy Miller to refer to women performing this double duty. And today, according to the most recent research, women still form the majority of family caregivers in Canada.
When you’re a caregiver to two generations, you’ve got to be at your best to meet everyone’s needs.
The middle of the sandwich can begin in a healthy place, only to have feelings of satisfaction eventually turn to frustration. It’s not unusual to find yourself harried and stressed when you’re being pulled in two different directions.
You can deal with caregiver stress by adopting these four self-care and caregiving best practices and ultimately improve your well-being.

Reach out to us today and we will send you the info.