Build Your Retirement Savings Faster with an Individual Pension Plan (IPP) The contributions to an IPP are graduated by age, and as such as the individual grows older, their contributions increases by a rate of 7.5% per year unlike the RRSPs fixed maximum of $14,500. For example an individual who is earning $100,000 per year […]
Smoke and Mirrors: Buying a New Car In general, I keep my vehicles about 10 years, so it’s been awhile since I have been in this game. Some things have changed but the overall process is the same. Last time, I actually researched what vehicle I wanted by test-driving the selected models to eliminate the […]
Taking Care of Business: Buy-Sell Funding Business owners face and evaluate risk every day. One tool to consider using is a risk matrix as shown below. The key point is to make sure that your highly critical, low probability risks are minimized i.e. moving from point A to point B. Probability Risk Severity High Medium […]
Private Pension Crisis? So what is an unfunded liability? It’s the amount by which the liabilities of the pension plan exceed assets in the plan, at a given date. What are some of the factors that affect this unfunded liability and how does it occur? 1. The company is not profitable enough to keep up the […]
Book Review: The Number– What is a Safe Withdrawal Rate? Every once in while, a really great book comes out. If you only read one financial book this year, I highly recommend The Number by Lee Eisenburg. In a nutshell, The Number is about formulating your personal retirement strategy not just the monetary nest egg. […]