Codie Russell, CFP, CLU, CHS

10/20/2026

Have you had to gather information from one professional to send to another?

I’m always surprised to hear this.

We reach out to our client’s accountants and lawyers directly.

Why?

Less running around for you

Less likely something gets missed in translation

Quicker answers to your professionals’ questions.

Your financial situation is better when your professionals are a team.

Not when they work in silos.

10/19/2026

What difference can 0.40% really make?

Quite a bit when you're planning decades ahead.

On a $500,000 portfolio earning 6% annually before fees, reducing annual costs from 1.90% to 1.50% would result in approximately $89,000 more remaining after 20 years.

That's the power of compounding working both ways.

The goal isn't simply to find the lowest cost. The question I think is more important is:

Do you understand what you're paying, what you're receiving for it, and how those costs affect your long-term financial plan?

That's a conversation worth having when planning for retirement.

10/15/2026

The most valuable financial conversations I’ve had this year weren’t about investments.

In fact they hardly ever do.

Reviewing a will with outdated language

Having power of attorneys nearby

Conversations with accountants and lawyers

If we only focused on investment returns, what else would be missed?

Financial planning is holistic, not just numbers on your investment statement.

10/14/2026

Have you used AI to evaluate your finances?

AI can be a great tool.

It can educate and make great explanations.

It also is great at making calculations and projections.

What does AI struggle with?

Understanding your goals.
Family dynamics
Your values
And tradeoffs you are willing to make.

AI understands optimization.

However most clients are looking for optimal.

They are looking for piece of mind.

10/13/2026

When someone tells me they want to retire at 55, my first question isn’t how much money you have.

I have seen clients retire with almost nothing saved, and people that cannot afford to retire with over a million dollars.

The difference?

What do you want your retirement to look like?

Travel
Gifting
New vehicles
Helping children
Retirement Job

All these variables affect a retirement plan more than the money in your accounts.

Retirement is more than just numbers, it is determining the lifestyle you want.

10/09/2026

Think adding your child to your bank account will make your estate simpler? It might do the opposite.

Joint accounts can create questions around ownership, inheritance, taxes and whether the money actually belongs to the surviving joint owner or the estate.

Before adding someone to an account, it's important to understand what that decision could mean for your estate.

Read more about this topic on our newest Prairie Perspectives article!

Adding an adult child as a joint owner on a bank account is one of the most common estate‑planning shortcuts families use. It feels simple. It feels practical. And for many Manitobans, it’s been passed down as “the easy way to avoid probate.”

10/08/2026

Do you have a large savings account or a non-registered investment account but room in your TFSA?

You are not alone.

Many people have accounts with multiple financial institutions.

Because of this, optimizing the tax free compounding returns of the TFSA get missed.

This is why at Prairie Wealth we gather all the investment statements and ask for CRA access.

This allows us to see your TFSA and RRSP contribution room, along with directing when to make contributions.

The interesting part?
We don’t need to change your investments.

One small change could mean substantial tax savings over a lifetime.

Do you have a long-term tax plan?

10/07/2026

Are you getting financial advice, or are you getting financial planning?

Client usually have multiple professionals on their team.

Lawyers
Accountants
Investment Advisors
Insurance Advisors
Bankers

But who is working to bring all these areas together?

This is the difference between financial advice and financial planning.

One person operating in their field is giving financial advice.

A financial planner brings all the advice together into one clear picture.

If you don’t have someone organizing all these areas, opportunities are missed.

Reach out to find out how we approach financial planning and working with your professionals.

10/06/2026

"I did everything right... So why am I paying more tax than I need to?"

This is a comment that someone made when having an initial meeting with me.

Two investors can have the same amount of investments but have very different after-tax results.

Why is this?

Optimization of investment accounts.

If you have room in your TFSA and RRSP, should you be investing in a non-registered account?

Have you considered contributing to a spousal RRSP?

These are missed planning opportunities that this client has never been told.

Luckily, they caught this before it was too late.

Have you done a review of your investment accounts recently?

10/02/2026

What is the difference between an estate plan and a will?

A will is a tool within an estate plan.

It is not the estate plan itself.

A will helps determine who receives your assets after your death.

But an estate plan answers much bigger questions.

Who will make decisions if you become incapacitated?

How will taxes affect your estate?

Are beneficiaries protected?

Will assets pass the way you intended?

How will the family cottage, business, or farm transition to the next generation?

A will is an important piece of the puzzle.

But it is only one piece.

Good estate planning isn't about having documents.

It's about making sure your wishes can actually be carried out.