John Panago - Certified Financial Planner

09/01/2026

Before the kids go back to school, check in with your financial advisor to review your life insurance plans. Message me today for a complimentary review.

07/27/2026

More than halfway through 2026, have your invested in your tax free savings account (TFSA)?

07/20/2026

Don't tell your kids but school is just around the corner!

For parents seeing their children off to post secondary for this first time it is time to look at withdrawals from RESP's (registered education savings plans).

Generally speaking your contributions are tax free when withdrawn but the grants and growth are taxable to the beneficiary, your child.

In the first semester of a full time program you can withdraw $8000 of grants and growth. There is no limit to the redemptions of contributions.

Families should plan education plan withdrawals based on program length for tuition, books, housing, meal plans and technology fees such as the cost of a new laptop!

Many parents will charge expenses to their credit card for the travel points and then get reimbursed from the financial firm they deal with.

For help on getting money in or out of an education plan be sure to message me!

06/15/2026

A great conversation to have especially as the school year ends!

05/05/2026

Have you completed your tax return? If not here are some overdue tips to use.

Tax season brings plenty of confusion—and costly mistakes. Here are some commonly misunderstood expenses Canadians often try (but fail) to claim on their tax returns.

05/04/2026

A certified financial planner (CFP) centres on delivering competent, ethical, and holistic financial planning to help you achieve your goals. Message me today to get started.

03/10/2026

If you woke up today wondering why you should look at your personal life insurance needs this guide is your first step. The second step is to message me.

Many financial experts consider life insurance to be the cornerstone of sound financial planning. It can be an important tool in the following situations:

02/27/2026

A recent study has found that the most common term life insurance amount purchased is $500,000. The amount of life insurance you purchase will depend on needs such as the immediate cash needed at death and annual income replacement.

Team up with me as your advisor for a discussion of what life insurance can do for you, your family, your business and favourite charity.

https://www.investmentexecutive.com/news/industry-news/500k-is-the-most-common-term-insurance-coverage/

02/24/2026

January and February has traditionally been 'RRSP season' where people top up their accounts before the first 60 days of the year deadline in time for their tax returns.

With the popularity of the TFSA (tax free savings account) and FHSA (first home savings account), more focus on these accounts rather than RRSP for economic growers.

Message me to see which account or accounts are best for you!

02/05/2026

A Tax-Free Savings Account (TFSA) is a special, government-registered account in Canada designed to help you save and invest money without paying taxes on the gains.

Think of a TFSA as a "tax-free wrapper" or "magic basket" that holds your money. Whether you keep cash in it or buy investments like stocks, everything inside that basket grows without being taxed, and you pay zero taxes when you take the money out.

Tax-Free Growth: If you put $1,000 in and it grows to $2,000, that extra $1,000 is all yours—no tax man takes a cut.

Tax-Free Withdrawals: You can take money out whenever you want, for any reason (vacation, emergency, car, house), and you will not be taxed.

Flexible Re-contribution: If you take $5,000 out in February, you can put that same $5,000 back in, but you generally have to wait until the next calendar year.

No Age Limit: You can hold and contribute to a TFSA for your entire life.

The Essential Rules (Don't Over-Contribute)

Eligibility: You must be 18+ (sometimes 19+ depending on the province) and a Canadian resident.

Contribution Limits: The government sets a maximum amount you can contribute each year (e.g., $7,000 for 2026).

Carry Forward: If you don't use your full limit one year, the unused space rolls over to the next year.

Penalty: If you put in more than your allowed limit, you will pay a penalty tax of 1% per month on the excess amount.

Message me to see how I can help you invest with success!