Introducing Connect Wealth
Author: Vince Olfert, MBA, CIM, CFP®
New Name, New Look, Same Excellent Service
We are pleased to announce that as of May 1st, 2020, Singer Olfert Financial Group will become Connect Wealth!
Learn more at www.connectwealth.ca.
Connect Wealth is an independent financial planning firm that offers holistic advice to clients based on their current goals and future aspirations. Learn how you can maximize your financial opportunities at www.connectwealth.ca.
Connect Wealth. Bringing Wealth To Life.
For many Canadians the perfect retirement includes owning a vacation property. For some the decision to buy turns out to be a dream come true but for others it can be an expensive nightmare. Here are some things to consider before making the emotional decision to buy a vacation property.
Why do you want it?
Possibly owning a vacation property will allow you to spend more time at a destination you love, it will become a place where you can take your family and friends or you feel it will be a great investment. Whatever the reason, it is important to understand what your motivation is and then evaluate if that’s realistic and reasonable given your current situation. Read more
For most Millennials, the thought of retirement can seem like light years away. While a lot can and will happen between now and then, ignoring it or putting a plan on the back burner is a major mistake. In a constantly evolving society, Generation Y faces unique challenges compared to those faced by previous generations. For this age group (18- to 34-year-olds), gaining an understanding of their financial situation and potential hurdles is critical.
To Split or not to Split…That is the question.
Income Splitting Strategies
So what is Income Splitting, and who is eligible to quality for the benefit?
Income Splitting is a way for families to split up their income so that if one spouse earns more than the other, the higher-earning spouse can allocate some of their income to their lower-earning spouse’s tax return. Since our tax system has graduated tax brackets, Income splitting is a great strategy to pay less household tax, and keep more money in your pocket! Read more
