Tom Schutzman, Financial Consultant

13/12/2021

I've been having a lot of conversations around inflation lately so this is hopefully prescient: the Bank of Canada is aiming for increased transparency on monetary policy, which since the early 90s has prioritized price stability and an inflation rate of between one and three percent. https://financialpost.com/news/economy/bank-of-canada-to-keep-inflation-target-says-rates-could-stay-low-for-longer?utm_medium=Social&utm_source=Facebook&fbclid=IwAR1ZXfU1p5l2KNcK6Tw0dlo6-B81YYuQ6l40mgCR4p_wOKh6LV-AovGjN0g =1639408440

Kevin Carmichael: Rising prices pose biggest inflation risk since targets were first adopted in 1991

27/07/2021

PSA for anyone with older family members contributing to RESPs for the kids: some estate planning around RESPs is necessary to ensure the money doesn't just get divided up among the beneficiaries of the will when the subscriber dies.

What happens when the RESP subscriber—the person who creates and contributes to an RESP—dies before the RESP is fully paid out?

06/03/2020

This is quite good in light of the last week on the markets.

https://www2.manulifeinvestments.ca/upsideofdown_home.html?rid=399085816&jobid=5435517&ch=eml&cname=

05/12/2019

https://www.moneysense.ca/save/investing/gic/should-you-amalgamate-rrsp-accounts/?fbclid=IwAR38jCUuwSvQDgzE5CuGxgmaPzMObgqUFY-IuoCLFTw9S_jGs8vGy5FwtCc

Having multiple retirement savings accounts can make it tough to monitor all of your investments, and may be costing you more than you realize.

15/10/2019

Guaranteed interest type products are often marketed in the wrong circumstances because it's easy to sell a guarantee to someone who is fearful, or concerned that the markets are down, etc. However, while they won't make you much money, they do have their uses.

Yes, they’re conservative—and that’s precisely why there are life stages and circumstances when a guaranteed investment certificate is the right investment choice.

30/09/2019

What's an EPSP? Do I have to pay more taxes? Do I have less RRSP room?

Corporations can choose to share a portion of profits with their employees by setting up a trust, called an employee profit sharing plan.

21/08/2019

More of those surveyed had a TFSA than an RRSP

09/08/2019

The average person will change careers 5-7 times during their working life according to career change statistics.

This leaves us with ex-employer pensions.

PSA: When you leave a job, you can take your pension with you and take it over personally in an RRSP or LIRA, and in some cases you should. There's also no deadline. If you left a job with a pension a long time ago, it's probably still sitting there waiting for you.

When this comes up for my clients, We will weigh the cost differences as well as the potential performance of each, and factor in the other aspects of your financial plan from present day through retirement. Imagine having all the information in one place!

Changing jobs? Here's how to make the most of a pension transfer whether it's from a DB or DC plan.

02/08/2019

Often, if you own a business, part of your plan is to eventually sell it. What does that look like, and how do you make sure you get the best price?

Seven steps to getting the price that you want.

26/06/2019

Here's one for the owner/partner/shareholder types:

To avoid business interruption at the time of death or disability, Key Man Insurance and Buy-Sell Agreements can be the difference between success and failure.

12/06/2019

Always remember to plan for inflation!