Meghan MacPherson - Financial Advisor

05/22/2024

"Transitioning from a dual-income household to a single-income one can be a daunting process, filled with financial uncertainties and lifestyle adjustments. However, with careful planning and strategic considerations, this transition can be managed smoothly."

Transitioning from a dual to single income can become reality for a variety of reasons, whether it be one partner choosing to exit the workforce, divorce, or loss of a loved one. Regardless of the reason, this is a big transition that no one should need to navigate alone. With the help of proper planning, a positive outcome can be achieved 🌱

Head to the link below for the full article where I share my insights on successfully handling this kind of transition, and learn how a professional financial planner can help 👇

https://ow.ly/5UXR50RPMsV

04/01/2024

Tax season can be a headache when you don’t know what to expect. Whether you owe money to the government or anticipate a refund, getting a clear picture of your financial situation can help you navigate tax season smoothly.

From planning your taxes earlier in the year or using a refund to offset debt or apply to other areas of your plan, you have the power to make this a worthwhile tax season!

In his recent article, Iftikhar Mahmood, CFP, shares insights on how you can plan, assess, and manage your tax returns.

https://ow.ly/Wss850R5H2P

Whether you’re expecting a big refund or you owe the government money, planning ahead is the key to reducing financial stress and improving your financial health.

03/14/2024

As a QAFP professional, it’s my job to help Canadians manage their unique financial situations – and carve out a path toward financial wellness – by providing personalized plans and insights. FP Canada’s relaunched consumer website provides information on how you can partner with a planner to navigate important Life Moments that span saving for a university education to figuring out how to spend your retirement.

Check out the site’s new Find Your Planner tool to easily connect with a financial planning professional like me and begin your journey to lifelong financial well-being: https://ow.ly/ilXf50QST8X

03/08/2024

Happy International Women’s Day!

As women, we have so much to offer, and we can impact positive change together. Let’s celebrate women’s achievements together and , not just today, but everyday 🌸

02/06/2024

"Younger Canadians may be embracing a softer approach to personal finance that prioritizes a comfortable lifestyle today over socking away savings for the long term"

While retirement and long-term savings goals in general may look different for younger generations, there is still value in saving, even if the amount is small. Taking this step is such an important aspect of your overall financial well-being, and it's important to understand the consequences of delaying.

Head to the link in my bio to read the full article and for insights from myself and other financial planning professionals on this trend 🔗

01/12/2024

As we’re now a couple of weeks into 2024, have you thought about what you’d like to achieve for the upcoming year? Regardless of where you’re at in your financial journey, taking the steps to do a quick check-in on your financial well-being can help set you on the right track for the year ahead 🙌

Swipe for a reminder of five things I recommend reviewing annually to stay on top of your financial health 👉

If you’re looking for some extra guidance and no longer want to navigate your finances alone, I’m here to help. Part of my process includes reviewing your plan at least once a year to ensure that, together, we’re checking these important boxes to achieve what you value most 🎉

If you want to have a quick chat to learn more, simply head to the link in my bio to find a time that works for you 💻

12/23/2023

Happy Holidays!

Wishing you all a wonderful holiday season spent with those you care about most ❄️

12/22/2023

The TFSA limit is increasing again for 2024! Effective January 1, 2024, the annual contribution limit will increase to $7,000.

Are you curious about how much contribution room you have? Keep scrolling for a list of past contribution limits, and to see how much room you might have access to based on your birth year 👉

Here's a refresher on how the chart works 👇

➡️ If you've never contributed before, the amount next to your birth year is the cumulative contribution room available to you.*

➡️ If you have made contributions, you'll want to deduct those amounts from the cumulative total. If you've withdrawn amounts in previous years, you'll want to add those amounts back. Note: If you made any withdrawals in the current year (2023), you can't add this back until next year (2024).

💡 Any investment growth doesn't impact your contribution room. So, if you've contributed a total of $10,000 and your TFSA is now worth $12,000, the extra $2,000 of growth deosn't affect your contribution room.

Looking to learn more? Head to the link in my bio to schedule an intro meeting and get started on your financial planning journey 💻
*Assumes you have been a resident of Canada for as long as you've been eligible

12/08/2023

Who knew financial planning could be so festive? Recently, I attended Canada Life’s Financial Planning forum, and one of the speakers mentioned she likes to describe financial planning as a Christmas Tree. Perfect timing as we enter the holiday season! 🎄

One of the most important parts of your financial plan is the foundation. This is the first step before the rest can be put into action. Think of this as the trunk of the tree. Without it, the branches (your future goals) cannot grow and flourish, and you risk losing all of your progress.

Regardless of where you are in your financial journey, having a plan in place is a crucial step towards improving your financial well-being.

Enjoy the rest of your holiday season! ❄️

10/18/2023

Planning for retirement can feel daunting, but it doesn’t have to be that way! By planning ahead and embracing the guidance of a professional financial planner, you can take steps toward retiring in a way that works for you.

Ryan Gubic, CFP, offers some helpful tips to help you start planning the retirement of your dreams ⬇️

https://ow.ly/cYrH50PXlSA

FP Canada

Planning for retirement doesn’t have to be stressful. By taking the right steps, you can help ensure a smooth transition to a new stage of life.               &n

10/04/2023

Happy World Financial Planning Day! 🌳

Regardless of where you are at in your financial journey, having a financial plan in place is a crucial step towards improving your financial well-being.

Through the financial planning process, we'll take steps to understand where you are now, determine where you'd like to be in the future, and discuss the steps you need to take to get you there, all while incorporating what you value most.

I often say financial stress stems from having too many "what-ifs" 👇

💡 What if I'm not on track?
💡 What if an unexpected expense comes up?
💡 What if I lose my job?
💡 What if my mortgage payments increase?
💡 What if I can't afford that vacation I booked?

Managing your finances is a lot, and you shouldn't have to do it alone. Having a financial planner in your corner to help navigate these unknowns is the first step towards eliminating your financial worry to ensure you can achieve long-term financial success 🎉

As always, whenever you're ready, I'm here to help. Head to the link below to schedule an introductory call 👇

https://ow.ly/mn2150PT1mO

10/02/2023

Without effective planning, it can be challenging for young adults to work towards their personal finance goals. Parents can help by learning what they can do to assist their adult children in achieving financial independence.

Nabila Mirza, QAFP, talks about the steps parents can take – and what a CFP professional or QAFP professional can do to help.

bit.ly/46fInlg

FP Canada

Are you supporting an adult child? If so, there are steps you can take to help get them on the path to financial independence – and protect your own finances.