Trusts can be useful tools for implementing tax strategies and can provide valuable estate planning benefits. This article discusses what a Canadian trust is and how to choose the right trustee. As always, and due to different legal structures in Quebec, it is recommended that you consult with legal counsel for advice concerning in-depth tax and legal matters.
Dividend income is a great way to reach the next level on your financial journey. Unlike some other income streams, dividend income is inactive in nature rather than active—after you or your investment manager have conducted research on which stocks are right for you, assuming you have a long-term position, you get to sit back and enjoy the ride! This is one of the pillar reasons Bloom Investment Counsel is so fond of dividend income—we are of the belief that you can attain true financial peace of mind through the inactive nature of this income stream, while still having time to dedicate to your business, your family, and your life.
When you retire from full-time work, whether as an employee or running your own business, you will face one of the most significant transitions in your lifetime. The road ahead becomes a balancing act, in which you must fund your desired lifestyle from a combination of your savings, investments and pensions. At the same time, you may wish to preserve some of your wealth to allocate to passion projects, personally important causes and future generations.
Here we highlight tips to help you ensure that your wealth allocations in retirement are balanced and sustainable. We also provide a bonus example to showcase how a shift in retirement investments does not have to come at the expense of wealth accumulation.
You’re familiar with wealth management services offered by the Big 6 banks in Canada, but have you heard of those offered by boutique investment counselling firms? Investment counselling firms generally serve high-net-worth and ultra-high-net-worth individuals and families who choose to delegate investment decisions to a trusted professional in the investment industry.
Are you looking to understand what an investment counsellor does, what to look for when choosing an investment counselling firm and how to choose an investment counsel in Canada? This article is for you.
While many of us feel an intrinsic pull to want to help those in need, when it comes to the tax and insurance implications involved when giving to charitable organizations, things can start to feel overly complicated quite quickly.
Not to worry—this guide is here to break things down in an easy-to-follow format, so that you can get back to supporting your community while having the peace of mind that you’re engaging in all of the best practices to make the most of your efforts from a financial perspective!