Fall 2020 Assante Newsletter
This fall, it feels like all of us, as Canadians, are turning a corner in managing the fallout of COVID-19. We’re taking the turn with a gradual and cautious approach to maintain control over the situation.
In our financial lives, it’s also a time to manage the things we can, and to protect our financial security. On Page 1 of this issue of Well-Advised, we look at managing our reaction to the markets so we can maintain peace of mind.
Protecting financial security includes insuring against life’s risks that could impact our ability to earn income. You’ll find out on Page 2 about looking for any gaps in your group life and health plan that could be strengthened by an individual policy.
Another way to control the things we can is by implementing strategies to save on taxes. On Page 3, we outline several ways retirees can pay less tax on the funds withdrawn as retirement income. And on Page 4, you’ll learn about using a capital loss on an investment to offset taxable capital gains, turning a loss into tax savings.
Finally, we cover a topic that’s relevant at any time – having the money talk with family members. It’s not always easy to do, but it’s definitely worthwhile.
We hope that you and your family enjoy the fall. Please get in touch with us whenever we can help with any aspect of your investment plans.
|It has been brought to the attention of the editors, after publication, that there was a factual error in the Page 3 article, “How to minimize tax on retirement income.” This article incorrectly suggests that income derived from RRSP withdrawals is eligible to be split with a spouse after age 65. In fact, income from RRSPs is only eligible if converted to a life annuity first.|