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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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RRSP Maturity Options: What you need to Know.

RRSP Maturity Options: What you need to Know.

If you are turning 71 (born in 1950) by the end of 2021, you can no longer have an RRSP, and it must be converted to an income plan.

Medical and Health Care Options for Retirees

Medical and Health Care Options for Retirees

While working many Canadians have medical and health insurance as an employee benefit. Once you retire, typically the coverage will retire with you, unless...

Smart Tax Strategies for Retirees: Take Advantage of Key Tax Credits

Smart Tax Strategies for Retirees: Take Advantage of Key Tax Credits

As a retiree, there are a few tax credits you should be aware of which may reduce your tax bill. Some will require action and should be reviewed annually.

How to Prepare for the Next Big One

How to Prepare for the Next Big One

The last event I attended prior to COVID was the Daytona 500 in February 2020.

Key Points for Wills and Powers of Attorney’s

Key Points for Wills and Powers of Attorney’s

Families during COVID-19 have realized that they should focus on concerns such as planning the family’s future.

Smart Tax Strategies for Retirees: Tax Efficient Income Withdrawals

Smart Tax Strategies for Retirees: Tax Efficient Income Withdrawals

One of the most important decisions a retiree must make is how to create an income and cash-flow strategy from the financial assets they have accumulated.

Smart Tax Strategies for Retirees: Avoid the OAS Recovery Tax

Smart Tax Strategies for Retirees: Avoid the OAS Recovery Tax

Old Age Security (OAS) is an income benefit that is paid to Canadians once they reach the age of 65. This article discusses strategies to avoid any clawbacks.

Smart Tax Strategies for Retirees: Keep Track of Health & Medical Expenses

Smart Tax Strategies for Retirees: Keep Track of Health & Medical Expenses

Unfortunately, as you age, you may have increased health care and medical costs that are not paid for by the government.

Avoid a huge $$$$ mistake. Check your beneficiary designations now!

Avoid a huge $$$$ mistake. Check your beneficiary designations now!

Who you named as a beneficiary can be easily forgotten. Review your beneficiaries to make sure that the designations match your entire estate plan.

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?

10 Reasons to Consolidate Your Investments

10 Reasons to Consolidate Your Investments

Retirement Income Planning should include consolidation of your investments and financial advisors as you approach retirement.

Who should you name as Executor?

Who should you name as Executor?

A common question I received as an advisor is whom should we name as executor in our Wills? The true answer is that it depends on your situation.

Pump Your Tires!

Pump Your Tires!

Be sure to pump the tires of your own personal retirement and estate plan as soon as possible. Meet with your advisor.

Do you need Disability Insurance?

Do you need Disability Insurance?

A commonly overlooked important financial strategy, is having appropriate Disability Insurance.

What is the Process once you Hire a Financial Advisor?

What is the Process once you Hire a Financial Advisor?

Understanding your financial situation is a critical first step in choosing a financial advisor.

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.

You better have a Plan for a Retirement Home

You better have a Plan for a Retirement Home

There comes a time for a family to have the conversation about retirement and living options for their elders.

What are the top 26 Estate Planning tips to consider?

What are the top 26 Estate Planning tips to consider?

Estate planning helps ensure a stress-free transition of your assets to the next generation or intended beneficiaries.

Key items to consider when reviewing your insurance needs

Key items to consider when reviewing your insurance needs

All too often we set insurance policies aside in a file drawer and forget that some items in them need to be reviewed from time-to-time.

What are the two main types of Risks when Investing?

What are the two main types of Risks when Investing?

Everyone is exposed to some type of risk every day – whether it’s from driving, walking down the street, investing, capital planning, or something else.

What are the Retirement Income Planning Options?

What are the Retirement Income Planning Options?

There are five main options to achieve when planning your retirement income. As an Assante financial advisor, I can help you achieve your goals.

How much income do you need in Retirement?

How much income do you need in Retirement?

The question people ask about retirement income planning is how much do they need to live on? Does the 70% of your pre-retirement rule apply?

Having a Plan for a Retirement Home

Having a Plan for a Retirement Home

When you are having the ‘money’ talk it should include planning for a retirement home.

Having the Eldercare Conversation

Having the Eldercare Conversation

COVID -19 Pandemic has highlighted the key issue of Eldercare in Canada and why everyone should include an Eldercare strategy in their financial planning.

What are the Risks to Retirement Income Planning?

What are the Risks to Retirement Income Planning?

Jack Lumsden, MBA, CFP®, is a financial advisor with over twenty years of experience. He is the author of the book - Preserving Wealth - The Next Generation.

What are the tax and withdrawal strategies for Retirement Income?

What are the tax and withdrawal strategies for Retirement Income?

Jack Lumsden, MBA, CFP®, is a financial advisor with over twenty years of experience. He has enjoyed building a strong career and loyal client base.

Importance of Estate Planning

Importance of Estate Planning

An Estate is the property that a person owns or has a legal interest in. The term is used to describe the assets and liabilities left by a person after death.

Preserving Wealth The Next Generation

Preserving Wealth The Next Generation

A lifelong resident of Burlington, Jack Lumsden MBA, CFP® helps his clients preserve and transfer their wealth and develop an income and cash-flow strategy.

3 Steps for Understanding Your Financial Situation

3 Steps for Understanding Your Financial Situation

You cannot plan wisely for the future without knowing where you are financially today.

4 Things to look for when hiring a Financial Advisor

4 Things to look for when hiring a Financial Advisor

A financial planner professional helps you organize your finances and projects the results of your savings and investments in preparation for retirement.

Over 39K views of this Author’s content on Klusster.

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