Tom Johnson, CFP

Tom Johnson, CFP I've helped more than 100 families succesfully navigate the waters of retirement planning.

In Canada, there's one tax return that is BY FAR the most expensive in your lifetime: your Terminal Tax Return. Check ou...
08/09/2024

In Canada, there's one tax return that is BY FAR the most expensive in your lifetime: your Terminal Tax Return. Check out this video to find out "why" it's so costly and what you can do to minimize its impact.

Do you own an insurance policy that feels expensive? Or are you thinking about applying for life insurance for the first...
07/26/2024

Do you own an insurance policy that feels expensive? Or are you thinking about applying for life insurance for the first time? Then check out this video to learn the "do's and don'ts" of buying life insurance for less money!

07/19/2024

If you find yourself with a large lump sum of cash (such as a pension transfer, inheritance, business or property sale, or even a lottery win) how do you invest it wisely? Today's video is about the two different approaches you can take with a windfall of money; including strategies to minimize the risk of market volatility.

06/21/2024

Have you heard? The rules have changed for taxing Capital Gains in Canada.

Who is impacted? How big is the impact? Is there anything you can do about it?

Check out this video to learn more!

The Registered Disability Savings Plan (RDSP) is by far the most advantageous account type in Canada. Check out this vid...
06/14/2024

The Registered Disability Savings Plan (RDSP) is by far the most advantageous account type in Canada. Check out this video to learn what makes it such a powerful savings tool for Canadians living with disabilities and their families.

Are you leaving money behind? If you’re one of the thousands of Manitobans with a disability, or a parent of a child wit...
06/11/2024

Are you leaving money behind? If you’re one of the thousands of Manitobans with a disability, or a parent of a child with a disability, here are two programs you MUST be aware of:

1. The Disability Tax Credit - as of 2023, the DTC is worth up to $2,081 for an adult and $3,295 for a minor. If you haven’t claimed the DTC for previous years, you can go back and file a claim for up to 10 years of back credits!

2. Registered Disability Savings Plan - this is BY FAR the best savings program in the country for adults or children who qualify for the Disability Tax Credit. Saving $1,500 in a year can result in up to $3,500 of grants and $1,000 in bonds being contributed from the government; an immediate quadrupling of your money!

06/07/2024

Curious about which direction to take with your work pension? Here are the top three reasons why retirees consider taking the Lump Sum option over the fixed monthly payments:

For the first time in four years, the Bank of Canada has lowered the benchmark overnight rate; from 5.00% to 4.75%. What...
06/05/2024

For the first time in four years, the Bank of Canada has lowered the benchmark overnight rate; from 5.00% to 4.75%. What does this mean for your finances?

If you hold variable rate debt, like a line of credit or variable rate mortgage, your cost of borrowing just decreased! Any fixed rate debt, like term loans or fixed rate mortgages, will remain unchanged for the duration of the term.

Rates on savings accounts will follow suit and decrease the return you are paid for your deposits.

Investments in stocks and bonds are more nuanced, depending on investors perceptions. Typically lower interest rates bode well for investors as the cost of borrowing is cheaper for businesses (leading to more profitability and growth) and bond yields will reduce, leading to short-term appreciation.

If the cost of goods goes up by 2% and, meanwhile, your money appreciated by 1%, you've lost out on purchasing power. Wh...
04/08/2024

If the cost of goods goes up by 2% and, meanwhile, your money appreciated by 1%, you've lost out on purchasing power. When it comes to long-term financial success, outpacing inflation with the majority of your money is critical! Otherwise it's one step forward and two steps back.

Learn more at: www.retirecheckup.com

Are you better off with $100 in a RRSP or $100 in a TFSA? Is $1 of interest worth the same as $1 of dividends?When it co...
04/05/2024

Are you better off with $100 in a RRSP or $100 in a TFSA? Is $1 of interest worth the same as $1 of dividends?

When it comes to investing for retirement, what you earn is only a small part of the story. With a top personal tax rate > 50% in MB, what you keep in your pocket, after taxes, is even more important!

You can learn more at www.retirecheckup.com

03/25/2024

Curious if you're on track for the retirement of your dreams? Visit
Retirecheckup.com and take the survey to find out!

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1730 Corydon Avenue
Winnipeg, MB
R3N0K3

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+12048371960

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