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Key Considerations for Early Retirement in Canada

Written by Bloom Investment Counsel, Inc. on December 2, 2024. Posted in Retirement. No Comments on Key Considerations for Early Retirement in Canada

Early retirement, defined as leaving the workforce before the traditional retirement age of 65, is becoming increasingly popular among Canadians. With advancements in financial planning and shifting attitudes toward work-life balance, many are eager to retire earlier than the conventional age. However, retiring early requires careful planning and consideration to ensure financial stability and a fulfilling lifestyle.

This article explores key financial, estate and tax planning and contingency planning aspects that you need to consider if you are planning early retirement in Canada.

Educational Resources for Philanthropy

Written by Bloom Investment Counsel, Inc. on November 27, 2024. Posted in Philanthropy. No Comments on Educational Resources for Philanthropy

educational resources for philanthropists

The practice of philanthropy encompasses a range of activities, from donating money to actively engaging in community service. However, effective philanthropy requires more than just your financial support or good intentions; it demands a strategic approach informed by knowledge and expertise.

Education plays a crucial role in enhancing philanthropic efforts. By gaining insights into effective giving practices, impact measurement, and strategic planning, you can maximize your impact and make more informed decisions. This article explores various educational resources available to individuals and organizations interested in philanthropy, aiming to provide a roadmap for those looking to deepen their understanding and effectiveness in this field.

Financial Independence Through Goal-Based Investing

Written by Bloom Investment Counsel, Inc. on November 25, 2024. Posted in Investing. No Comments on Financial Independence Through Goal-Based Investing

Financial independence is when you have sufficient income to cover your living expenses without needing to work actively for money. It’s a significant milestone for many people, offering freedom from financial stress and the ability to pursue passions and interests.

Goal-based investing is a strategy that helps you achieve this independence by aligning your investment choices with specific financial goals, rather than just aiming to maximize returns. This approach differs from traditional investing, which often focuses on general growth without explicit connection to individual objectives.

Marriage Tax Benefits: What You Should Know

Written by Bloom Investment Counsel, Inc. on November 20, 2024. Posted in Life Events. No Comments on Marriage Tax Benefits: What You Should Know

Understanding marriage tax benefits is crucial for Canadian couples who want to optimize their financial situation. When couples marry, or start living together under a common-law arrangement, their tax responsibilities and potential benefits can change significantly.

Tax Loss Selling in 2024: A Canadian Perspective

Written by Bloom Investment Counsel, Inc. on November 18, 2024. Posted in Financial Literacy. No Comments on Tax Loss Selling in 2024: A Canadian Perspective

Tax loss selling is a strategic investment technique that you, as an investor, can use to help reduce your taxable income. In Canada, this involves selling investments that have declined in value to realize a capital loss, which can then offset capital gains and, in some cases, other income. As 2024 comes to an end, understanding tax loss selling becomes increasingly important.