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Jack Lumsden, MBA, CFP®, is a Financial Advisor with Assante Financial Management Ltd. focused on who are or will be making the transition from their working years to retirement.

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Six Unique Risks to Retirement Income Planning

Six Unique Risks to Retirement Income Planning

As part of the retirement income planning puzzle, there are several unique risks or challenges that you must account for.

What to expect in regular progress meetings with your advisor?

What to expect in regular progress meetings with your advisor?

Regular progress meetings should be scheduled during the year to update and adjust your retirement income plan.

Where do financial advisors work?

Where do financial advisors work?

If you are not going to manage your own Retirement Road Map, find an advisor who, like you, is planning for the transition to retirement or is already retired.

How do you Create a Retirement Road Map?

How do you Create a Retirement Road Map?

Planning meetings ensure the advisor is in alignment with your family’s dreams, hopes and desires and what you wish to accomplish and achieve over time.

Planning your Will and Powers of Attorney

Planning your Will and Powers of Attorney

A common question we received is what we should consider when planning our wills and powers of attorney.

What is the Tax-Free First Home Savings Account?

What is the Tax-Free First Home Savings Account?

In the 2022 Federal Budget, the federal government proposed a new savings vehicle for first-time home buyers.

Retirement Income Withdrawal Strategies

Retirement Income Withdrawal Strategies

In our conversations with people making the transition from their working years to retirement, many have done a great job of saving over time.

Ontario Staycation Tax Credit

Ontario Staycation Tax Credit

If you are travelling in Ontario this year, be sure to keep track of your accommodation expenses as they can help you reduce your taxes.

Why Invest in the Stock Market?

Why Invest in the Stock Market?

With the current stock market gyrations, people may wonder why they should invest in the stock market at all.

How to Navigate a Market Downturn for Retirees

How to Navigate a Market Downturn for Retirees

With the market decline this year, people want to know what they can.

Paying Your Income Taxes in Retirement

Paying Your Income Taxes in Retirement

When making the transition from your working years to retirement, a common concern or question that comes up is, “How do I pay my taxes in retirement?”

The Three Stages of Retirement Spending

The Three Stages of Retirement Spending

When retirement planning, you may want to view your spending in three different phases.

Can we give money to our children to help with a home purchase?

Can we give money to our children to help with a home purchase?

In meeting with clients a common question we hear is,” Can we give money to our children to help with a home purchase?”

Key Tax Credits to Review

Key Tax Credits to Review

As everyone begins to assemble their tax documents to complete their 2021 income tax returns, there are some tax credits you will not want to overlook.

Seven Strategies to Withdraw Corporate Assets for Retirement

Seven Strategies to Withdraw Corporate Assets for Retirement

At retirement business owners may end up with investment assets within their CCCP, and this can be used for their retirement income.

When do you need the money?

When do you need the money?

Have you received a large amount of money and wondered how to invest for when you need it most?

 Business owners increase Retirement Savings investing in their corporation

Business owners increase Retirement Savings investing in their corporation

Investing within your CCPC offers the potential to defer the taxation versus simply paying out the income to yourself and then investing the after-tax capital.

Do you need Disability Insurance?

Do you need Disability Insurance?

If you had a life-changing accident or were diagnosed with a critical illness tomorrow, would you and your family be able to cope?

Trusts for Retirees – Probate Planning

Trusts for Retirees – Probate Planning

When estate planning, most retirees wish to review strategies to avoid probate fees, which in Ontario are 1.5% of the assets value distributed via a will.

Nine Tax Strategies to Pay Less Tax in Retirement

Nine Tax Strategies to Pay Less Tax in Retirement

Income tax is one of the largest expenses any retiree has. The Fraser Institute Report indicated that Canadians paid 45% of income as taxes in 2019.

The Three Estate Buckets

The Three Estate Buckets

We review annually with clients how their estate will be distributed to their beneficiaries. We determine if there are any changes or ways to save on taxes.

Risks to Retirement Income Planning

Risks to Retirement Income Planning

Retirement Income Planning is a speciality in the world of financial advice. There are specific risks that are different from simply saving for retirement.

What do I do if I don’t want to be an executor?

What do I do if I don’t want to be an executor?

The question that arises occasionally from clients is: Can you turn down the role of an executor if you are named one?

What is the first step to create your Financial Road Map for retirement?

What is the first step to create your Financial Road Map for retirement?

As you need to know your starting point for any journey before you can create your Financial Road Map for retirement, you need to define your starting point.

The Four Pillars to a Successful and Happy Retirement

The Four Pillars to a Successful and Happy Retirement

When making the transition to retirement or work option years, there are four key pillars to a happy and successful retirement.

The Six Levers to Retirement Income Planning

The Six Levers to Retirement Income Planning

When transitioning from work to retirement there are six levers you can adjust to create a retirement income and cash flow plan.

10 Reasons to Consolidate your Investments and Financial Advisors

10 Reasons to Consolidate your Investments and Financial Advisors

When doing retirement income planning I am often asked about consolidating different types of investments you may have at different financial institutions.

Smart Tax Strategies for Retirees: The Four Types of Income in Retirement

Smart Tax Strategies for Retirees: The Four Types of Income in Retirement

Planning for taxes in retirement is like putting together a puzzle that is specific to each retiree. The type of income determines how it is taxed.

Should home and investments be jointly owned with children?

Should home and investments be jointly owned with children?

A common question is should I transfer the ownership of my house or investment account into joint ownership with my children to avoid probate fees?

Registered Education Savings Plans

Registered Education Savings Plans

My kids are 18 and 20, does setting up a new Registered Education Savings Plan (RESP) still make sense?

Why the Legacy Conversation is Important

Why the Legacy Conversation is Important

The Legacy conversation is an important talk to have with your children and beneficiaries in order to reduce stress and potential conflict in the future.

The Real Affect of Taxes and Inflation on Investment returns.

The Real Affect of Taxes and Inflation on Investment returns.

Over the long term, taxation and inflation reduces your real purchasing power.

Should we take Advantage of our Unused RRSP contribution limits?

Should we take Advantage of our Unused RRSP contribution limits?

A common question that we receive every year prior to the RRSP deadline is should we take advantage of our unused RRSP contribution limits?

Rebalancing Your Portfolio

Rebalancing Your Portfolio

Today we are going to be reviewing portfolio rebalancing, and how it can be used to your advantage.

YOUR FREE RETIREMENT READINESS REVIEW

YOUR FREE RETIREMENT READINESS REVIEW

To find out if you are on track, and to evaluate if our services would provide value to your family, you can schedule a 15-Minute call.

The Four Essential Family Conversations

The Four Essential Family Conversations

Important conversations to have with your parents, children, and executor and powers of attorney, if not your children.

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