Empowering Our Clients
with Knowledge

4 Reasons You Shouldn’t Ignore Estate Planning

Written by Bloom Investment Counsel, Inc. on . Posted in Estate Planning. No Comments on 4 Reasons You Shouldn’t Ignore Estate Planning

estate planning and trusts

Estate planning involves a lot more than just making a will. One of the main purposes of an estate plan is to ensure that all your final wishes are carried out in the most tax-efficient manner possible, thereby maximizing the value of your estate for your beneficiaries.

An estate plan is the single most effective way to preserve your wealth and transfer your assets efficiently and tax-effectively in accordance with your wishes. We describe below four reasons why you shouldn’t ignore estate planning.

Continue reading

The Importance of Conventional Investment Managers in 2023

Written by Bloom Investment Counsel, Inc. on . Posted in Investing. No Comments on The Importance of Conventional Investment Managers in 2023

working with a conventional investment manager

In the ever-evolving landscape of investment management, the role of conventional investment managers remains crucial and indispensable. While new technology and digital platforms have gained prominence and greater usage in recent years, conventional investment managers bring a unique set of skills and expertise that cannot be replicated by automated systems.

Continue reading

One Year Later: How Has the Luxury Tax Impacted Canadians?

Written by Bloom Investment Counsel, Inc. on . Posted in Financial Literacy. No Comments on One Year Later: How Has the Luxury Tax Impacted Canadians?

man with a luxury car and plane

In September 2022, the imposition of a luxury tax sparked significant interest and concern amongst Canadians. This new tax policy raised questions about its potential impact on Canadian consumers and the overall economy.

In this article, we cover the effects of the luxury tax on Canadians and explore its implications for individuals, businesses, and the broader economy over the past year. By examining both the positive and negative consequences, we aim to provide a comprehensive understanding of how the luxury tax has influenced the lives of Canadians.

Continue reading

Should You Hold Cash in Your Portfolio?

Written by Bloom Investment Counsel, Inc. on . Posted in Investing. No Comments on Should You Hold Cash in Your Portfolio?

holding cash in your portfolio

Experienced investors will almost always have a balance in cash and/or cash equivalents (like 90-day treasury bills or other money market investments) as part of a well-diversified investment portfolio.

On a day-to-day basis, holding cash or cash equivalents can provide some form of relief should unforeseen expenses arise. From an investment perspective, viewing cash as part of your asset allocation allows you to hold a defensive cash position and enables swift offensive portfolio purchases, relative to investment market movements.

Continue reading

Setting Up a Retirement Fund as a High-Net-Worth Individual

Written by Bloom Investment Counsel, Inc. on . Posted in Retirement. No Comments on Setting Up a Retirement Fund as a High-Net-Worth Individual

setting up a retirement fund

Upon your retirement, you will likely have a reduced income as you say goodbye to employment earnings. It is therefore important to work out how much you will need in retirement savings to have a comfortable retirement.

But how much is enough? Everyone’s answer will be different, especially if you are fortunate enough to be considered High-Net-Worth (HNW) individual. Higher-income and greater assets require more complex retirement planning with more options and decisions to be made.

For HNW individuals, the focus for retirement tends to be less on financial security and more on managing investments, tax planning, cash flow, wealth transfer, and charitable endeavors.

With proper advance planning, you can establish the foundation for the desired standard of living, lifestyle, wealth transfer, and legacy you want to achieve in retirement.

Continue reading