Laura Southall Finance

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Laura Southall Finance

Personal Wealth Management I was fifteen when I started investing $50 a month to save for a down payment on a house. For me, nothing could be more rewarding.

Laura Southall, CFP®, CLU®, Senior Wealth Advisor, Assante Wealth Management Ltd

Personal Wealth Management

I was fourteen years old when I bought my first GIC and my passion for investing was ignited. At 23 years old, I bought my first house, where I immediately rented out the basement to cover the mortgage. My passion for investing, finance and business is unlimited and ongoing. I feel so luck

y to be a financial advisor at Assante. I get to work with my clients to help them achieve their goals. Outside of the office, I am married with three young children. I complete several triathlons every year and I love travelling. This material is provided for general information and is subject to change without notice. Every effort has been made to compile this material from reliable sources however no warranty can be made as to its accuracy or completeness. Commissions, trailing commissions, management fees, and expenses may all be associated with mutual fund investments. The indicated rates of return are the historical annual compounded total returns including changes in unit/share value and reinvestment of all distributions/dividends. They do not take into account sales, redemption, distribution or optional charges or income taxes payable by any security holder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Please read the Fund Facts and consult a professional advisor for individual financial advice based on your personal circumstances before acting. The opinions expressed are those of the author and not necessarily those of Assante Financial Management Ltd. Insurance Products and Services are provided through Assante Estate and Insurance Services Inc. Please visit www.assante.com/legal for important legal and regulatory disclosures

05/18/2026

Happy Victoria Day!

Here’s to a long weekend filled with fresh air, good company, and maybe the unofficial start of summer. Whether you’re heading to the cottage, firing up the grill, or just taking it slow—enjoy the extra day.

Have a safe and relaxing long weekend!

05/15/2026

While maximizing your RRSP sounds like solid advice, it’s not one-size-fits-all solution.

RRSPs are powerful, especially if you’re in a higher tax bracket today and expect to be in a lower one in retirement. But that doesn’t mean they should always come before everything else.

Before prioritizing your RRSP, ask:
❔ Am I carrying high-interest debt?
❔ Do I have enough emergency savings?
❔ Would a TFSA give me more flexibility right now?

For many people, especially earlier in their careers, a TFSA can actually come first.

TFSA may make more sense:
▶️ If your income is lower today
▶️ If you want tax-free withdrawals later
▶️ If you need flexibility without affecting benefits or tax credits

RRSP and TFSA contributions shouldn’t come before paying off high-interest debt.

Good planning isn’t about following rules—it’s about making the right call for your situation.

05/13/2026

Not all debt is created equal—but “good vs bad” isn’t as simple as it sounds.

Good debt typically helps you build long-term value while bad debt does the opposite.

Good debt is:
✅ Planned
✅ Affordable within your budget
✅ Taken on with a clear long-term goal

Bad debt tends to be:
❎ Reactive
❎ Easy to accumulate (like credit cards)
❎ Harder to pay off due to high interest

Good debt can open doors. Bad debt can quietly close them.

The line between good debt and bad debt often comes down to control. Before taking on any debt, pause and ask: What am I getting in return—and is it worth the cost?

If your debt feels stressful, unpredictable, or constantly growing, that’s a sign it may be working against you.

05/10/2026

To all the Mothers, Grandmothers, and Mother figures out there, we love you and we celebrate you today and every day!

Happy Mother’s Day from The Southall Group of CI Assante Wealth Management LTD!

05/08/2026

Overcontributing to RRSPs and TFSAs is one of the most common, and avoidable, money mistakes people make.

In Canada, contribution room isn’t always as straightforward as it seems. Between employer RRSP matches, delayed contribution reporting, and multiple TFSA accounts, it’s easy to go over the limit without realizing it.

The catch? Overcontributions can trigger penalties—1% per month on the excess amount.

A few ways this happens:
▶️ Contributing early in the year before your new RRSP room is confirmed
▶️ Forgetting about contributions made at a different financial institution
▶️ Re-contributing to a TFSA after a withdrawal without waiting for next year

How to avoid it:
▶️ Check your CRA My Account regularly
▶️ Track contributions across all accounts
▶️ Leave a small buffer instead of maxing out to the dollar

A little attention now can save you from unnecessary penalties later.

05/06/2026

Remember when mortgage rates were under 3%? Back then, putting extra money into your RRSP or TFSA instead of your mortgage made total sense. Investment returns easily outpaced what you were paying in interest.

Here's the thing: interest rates change the math completely.

When your HELOC, mortgage, or car loan is costing you 6, 7, or 8%+ per year, the "guaranteed return" of eliminating that debt starts looking really attractive compared to the unpredictability of the markets.

A simple way to think about it:

💡 Debt over 7%: Focus on paying it down
💡 Debt between 4–6%: Balance both, prioritize your RRSP match
💡 Debt under 4%: Long-term investing likely still wins

And don't overlook your registered accounts — the tax advantages of TFSAs and RRSPs can make investing more competitive than the raw interest rate comparison suggests.

Rates have been shifting. If your financial plan was built in a different rate environment, it might be time to revisit it.

04/30/2026

🚨 Today is the day!

If you haven't filed your return yet, don't panic — but do act fast! Here's what to do right now:

⚡ File online through NETFILE — it's the fastest option
⚡ Log into CRA My Account to confirm everything is in order
⚡ Even a partial payment today helps reduce interest charges

Remember — filing late means penalties. Filing today means peace of mind.

04/28/2026

The TFSA is one of the most powerful financial tools available to Canadians.
But used incorrectly? It can cost you thousands. Sometimes without you even knowing it.

Here are the most common TFSA mistakes that could be costing you:

❌ Mistake #1: Over-contributing
The CRA charges a 1% per month penalty on excess contributions.

❌ Mistake #2: Not understanding re-contribution rules
Withdrew money this year? You can't re-contribute that amount until January 1st of the following year.

❌ Mistake #3: Holding cash instead of investments
A TFSA is not just a savings account. Holding low-interest cash inside a TFSA wastes its most powerful feature — tax-free growth on investments.

❌ Mistake #4: Naming your estate instead of a successor holder or beneficiary
This can trigger probate fees and unnecessary tax exposure for your family.

❌ Mistake #5: Holding U.S. Dividend Stocks
U.S. dividend stocks (and some foreign stocks) attract a 15% withholding tax on dividends within a TFSA that cannot be recovered.

Your TFSA should be working hard for you — not creating unexpected tax bills.

04/24/2026

Your will is important. But it might not be enough

Here's something a lot of Canadians don't know:

Your RRSP, RRIF, TFSA, and life insurance policy don't follow your will. They go directly to whoever is named as your beneficiary, no matter what.

That means if you went through a divorce, had a new child, or lost a loved one and never updated those forms, your assets may not end up where you intended.

An ex-spouse, a deceased relative, or even your estate could end up receiving your assets regardless of what your will says.

✅ Review your designations after every major life event
✅ Marriage, divorce, a new child — all trigger a review
✅ Work with your advisor AND your estate lawyer together

Your will and your beneficiary designations should tell the same story.

04/22/2026

Do you have a teenager? This is the perfect time to teach them about good financial habits.

Check out my conversation with host Donna Chambers on Limestone Lens and start building these practices at home.

Address

90 Johnson Street
Kingston, ON
K7L1X7

Website

https://www.assante.com/advisors/lsouthall

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