A Roadmap to Well-Being: The Value of Financial Planning

Study reveals that Canadians with financial plans feel they are saving more, living well, and experiencing higher levels of overall contentment in their lives.

The results of a three-year longitudinal study which included close to 15,000 Canadians provides important insight into the potentially life changing impact of financial planning. The Value of Financial Planning, commissioned by FPSC in conjunction with the Financial Planning Foundation, provides a comprehensive evaluation of the financial planning activities of Canadians by measuring its perceived impact on emotional and financial well-being.

The study revealed that Canadians who engage in comprehensive financial planning report significantly higher levels of financial and emotional well-being than those who do no planning or only limited planning.   Click the link above for more information.


Understanding Investment Costs

In the spirit of mutual trust, respect and full transparency, the two videos shown below help illustrate precisely how mutual fund companies, dealerships and advisors are compensated.  The first video discusses the two primary methods of compensation - embedded costs vs. direct costs.  The second video uses a hypothetical $10,000 investment and breaks down, in dollar terms, to whom and how much an investor pays annually.  Please contact me directly should you have any questions.

Embedded vs. Direct

Your Roadmap?

I've included a link to a watered-down version of the financial road-mapping software, Naviplan, that I use in my practice.  The purpose of including it here is so that you can begin to see where your current financial roadmap is headed and take steps today to get back on the right track.

  $10,000 Hypothetical

Investor Behaviour Study

Much, but not all, of the shortfall in investor returns is due to psychological factors such as Loss Aversion, Narrow Framing, Herding or Optimism.  There are actually three primary causes for the chronic shortall for both equity and fixed income investors.  Read this dense, but enlightening, piece to learn more!

Should You Be On A News Diet?

This article is the antidote to news.  It is long, and you probably won’t be able to skim it.  Thanks to heavy news consumption, many people have lost the reading habit and struggle to absorb more than four pages straight.  This article will show you how to get out of this trap – if you are not already too deeply in it.  If you like what you read in this piece be sure to check out the author's website for more great information!

Cost of Fund Ownership Canada vs. USA

This comparative study looks at the overall cost of ownership of mutual funds in Canada vs. US.  You may be surprised at the findings.

What's a Safe Withdrawal Rate?

Withdrawal rate is simply the percentage of one's savings one chooses to withdraw each year.  For example if one withdraws $3,000 from a savings balance of $100,000, this equates to a 3% withdrawal rate.  Perhaps a touch too technical, this research-based study explains how withdrawal rate may impact your retirement plans.

CPP Application

Here's a quick link to the CPP application form.

OAS Application

Here's a quick link to the OAS application fom.

1st Time Home Buyers Plan

Here's a quick link to an information document on the First Time Home Buyers Plan.

Turning 71?

If you're turning 71 this year or next, this summative RRIF information guide is a must read.