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TFSA rules explained 2016

12/28/2015

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Kathy Waite  Regina Saskatchewan fee only financial planning. retirement income. TFSA RRSP LIRA 
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Too little time and too much complexity in your life?

12/17/2015

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My job is to simplify your complexity in an increasingly complex world with way too many choices

One of the biggest changes I’ve seen in the world over the past few decades is the continual increase in complexity that we have to deal with—some of it due to one thing: the exponential growth of technology.
If you look back to the mid-20th century, life was much simpler. 
People often worked for one organization their entire lifetime, giving them a sense of security that simplified their lives. And they could likely learn the skills needed to succeed in their position in six months or maybe a year, affording them a high degree of predictability. The whole of society had a sense of predictability to it.

Predictability vs. life after the microchip.
Enter the microchip in the mid-1960s. With it came increasing complexity in every area of life bringing us massive amounts of information.

The majority of people, though, don’t like change; it’s actually a negative experience for them because of all the complexity that comes with it. My thinking, though, is that change in the world is a good thing because it creates a wonderful opportunity 
 
Financial planning is as much about transition management and making the most of the opportunities change brings as the numbers.  

I monitor change in finance daily, I am curious as to how we can use this to enhance our lives and am very resourceful when new situations present themselves .  

Kathy Waite Saskatchewan Regina fee only planning retirement income specialist. 


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How much is the proposed child benefit worth to you?

11/29/2015

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Kathy Waite Regina Saskatchewan Fee only financial planning, Canada child benefit 
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Suddenly alone and grieving, widows and divorcees face financial confusion

11/18/2015

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Globe and Mail  November 11th 2015     
     Kathy Waite, a fee-only financial planner in the Regina, Saskatchewan area, says not only
  are women like this easy prey for fraudsters but they are also sitting ducks for financial           professionals who  wish to push their own products on them, even with the best intentions.

Click on the picture above to read the full article in Globe and Mail with my comments . Prevention is better than a cure .
​Lets get organized and educate ourselves before it comes to this ! 


Waite says the best advice for women who find themselves at sea with their finances after the loss of a partner is to just do nothing for a while.
“I always tell them not to rush into any changes,” says Ms. Waite, who runs Your Net Worth Manager, a financial planning service with clients across Saskatchewan and, by remote, across Canada. “I encourage them to ask questions and to get any answers in writing. At the risk of sound self-serving, I would say, go look for someone who doesn’t sell things – someone who will just charge you for the advice and doesn’t have a vested interest in selling a product.”

She advises women to bring a friend – not necessarily a family member – to any financial meetings. She says often professionals will decide that “mom isn’t coping” and turn their focus to the relative.
Ms. Waite says it is easier for women to break finances into smaller goal-oriented chunks, such as living debt free and leaving money for children, rather than swimming against a tide of jargon
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Kathy Waite Regina Saskatchewan Financial Planning , retirement, investments RRSP, TFSA 
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Are you better or worse off under the new government?

11/10/2015

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Kathy Waite Fee only Financial Planning Saskatchewan Retirement income and lifestyle specialist and money ninja all round helpful person 
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Show me the money! Get more life out of your hard earned cash

11/8/2015

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Lets uncover your financial independence gap , that gap is where all the opportunity has been hiding.
Show me the money!
Pay down debt , invest in your future all the while enjoying a great lifestyle .
​I will make you a beautiful easy to read report to help you stay on track
.
Kathy Waite Saskatchewan Regina Fee only Financial Planner  Personal Trainer for your money 
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Happy Halloween

10/30/2015

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Figuring out how to make the most of your finances shouldn't be scary! Contact me for unbiased independent advice and a real plan not a sales pitch for products disguised as a plan. Kathy Waite Saskatchewan Regina 
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You all look like a lucky bunch........

10/30/2015

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Deal with a commissioned sales person for your car or buying a TV but not your life savings for goodness sake!  

​Plans first products last! 

Kathy Waite Fee Only Financial Planning Regina Saskatchewan 
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Let me show you how to get more life out of your money.

10/22/2015

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Kathy Waite Fee Only Financial Planner Regina Saskatchewan. 
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What does the 2015 election mean to you?

10/20/2015

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The end of the $10,000 TFSA, higher taxes for the 1% less taxes for middle Canada 

 Liberal leader Justin Trudeau has repeatedly pledged help for Canada’s middle class. Here’s what he’s promised to do as Prime Minister of Canada as it relates to household balance sheets.

Cut the annual Tax Free Savings Account (TFSA) contribution limit from $10,000 back to $5,500. Arguably one of Trudeau’s least popular campaign promises (an Angus Reid survey recently found that 67% of Canadians aren’t in favour of any political party reversing the increase), the roll back could cost savers tens of thousands of dollars over the long. High-income individuals stand to lose an estimated $53,000 over 30 years, assuming 5% equity returns and a combined federal and provincial tax rate of 50% 

Raise income taxes on the top 1% of earners, trim it for everyone else. a promise to cut the middle income tax bracket from 22% to 20.5% for Canadians earning between $44,700 and $89,401 a year, amounting to savings of $670 a year (or $1,340 for a two-income household). He’s also promised to create a new tax bracket of 33% for those earning $200,000 a year or more.

Reduce payroll taxes. (EI) premiums are expected to fall to $1.65 per $100 under a Liberal majority government.

Give a little here, take a little there, from young families. Trudeau has vowed to cancel the up to $2,000 annual benefit to couples with kids under the age of 18 leveraging the recently introduced income splitting for families option. He also said he would ditch the Universal Child Care Benefit for Canada’s wealthiest families and instead introduce the Canada Child Benefit that will give the majority of families up to $2,500 more, tax-free, every year (typically for a family of four). 

Home-ownership . A 10-year investment in social housing, prioritizing affordable housing and seniors’ facilities (including building more units and refurbishing existing units) as well as removing all GST for developers of new affordable rental housing projects. The Liberals also said they would loosen the existing qualification rules for the Home Buyers Plan  allowing more Canadians affected by sudden and significant life changes (such as divorce) to access their RRSP savings for a down payment on a second home. 

Restore the traditional retirement age. The Liberals have vowed to restore the Old Age Security 
eligibility ages back to 65 after the Conservatives under Stephen Harper had introduced a plan to gradually raise the eligibility age to 67 for anyone born in or after 1958. Trudeau has promised however to leave pension income splitting intact for seniors as well as introduce a new seniors price index to ensure benefits keep up with rising living costs and a 10% boost to the GIS for single, low-income seniors.
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Grants and grace periods for students and young professionals. Trudeau made headlines when he said he would eliminate the need for graduates to repay their student loans until they are earning at least $25,000 per year. He also pledged to increase the maximum Canada Student Grant to $3,000 per year for full-time students and to $1,800 per year for part-time students while increasing the income thresholds for eligibility so that more students can access to the program. On the flip side, Trudeau said he would cancel existing textbook tax credits for all.


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Do you want the ex wife deciding your future? 

10/19/2015

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Lamar Odom in happier healthier times. Whatever you think of the Kardashian saga no one would wish this mess on their worst enemy. 

Despite divorcing word is he didn't update wills and health care directive so guess who now gets to make the decisions? 

My clients are used to me showing up with the medication bottle we put all this info in in the fridge door so medics and family can find it QUICK. 

Click on the picture to read the full article in Wealth Professional
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Are you an optimistic soul or a pessimist ?

10/14/2015

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When it comes to picking winners studies show most of us overestimate the importance of skill and underestimate the role of random chance.
I believe in "evidence based investing" not the sales pitch we are so often fed to sell products. I never expect a client to believe me we review the solid academic theory behind decisions together. 

Kathy Waite Fee Only Financial Planner Regina Saskatchewan 
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How to make a grown man cry....................

10/13/2015

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Ask an active manager where he stands on EMH and wait for the nervous twitch to start
 
What is EMH? Efficient Market Hypothesis : Together we know more than we do alone
 
In excess of 39 million trades a day $200 billion go on each day
That collective knowledge is powerful
 
When you try to predict the market it adds anxiety and risk , you are competing against the collective knowledge of all these buyers and sellers.
 
Markets are efficient enough trying to outperform them through stock picking or market timing is a waste of effort, time and money, as this video explains

​Kathy Waite Regina Saskatchewan Fee Only Financial Planning 
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The Godfather vs The Wolf of Wall Street

10/4/2015

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 Eugene Fama not a household name but should be. Known as the Father of Modern Finance he jokes about his Italian roots preferring to be called the Godfather, controversial, admired by academics and unloved by Wall Street.
 
50 years ago Nobel Laureate Fama became the first big user of computers in finance applying scientific rigor to investment management. In the video clip I love the computers that run off hole punched cards.
 
Fama believes that market prices include all known data therefore it is impossible to consistently beat the market. Frequently saying it means that the vast majority of investment professionals add no discernible value ( just go buy the market ).

Watch out for the wolf of Wall Street Fama! 

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Panic? Buy or sell?

9/18/2015

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What would you do if stocks dropped 20% ? Interesting reactions from people in the street.

Loss aversion is a survival instinct and losses hurt more than gains feel good.

This is why we have short term cash and a plan to calm the nerves.

Kathy Waite Regina Saskatchewan 

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This Time Its Different ( not )

9/14/2015

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Its different this time ( not ) :
  • U.S. stocks were up nearly 400% in the 1980s. All anyone remembers is the 1987 crash.
  • Bonds gave investors a total return of more than 100% in the 1990s. All anyone ever talks about is the 1994 crash when interest rates spiked.
  • The 1990s tech boom added enough fiber-optic cable to make all of our Internet dreams come true. All anyone ever talks about is the the NASDAQ crash
  • Stocks are up since March of 2009. Lets celebrate those gains instead of constantly worrying about the next correction.
 Sense a theme here? 
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Do you worry about volatility in your investments?

8/30/2015

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Been looking at your statements this week and worrying? If you feel like this now how would you feel if you had retired last week?

Having a retirement plan and a written investment policy statement fends off the fear. 

I can show you how to block out the noise, use academic theory to develop a long term sustainable plan to keep you on track now and in retirement. 

Remember those in 2008 who said : i can't retire now" don't be one of them when its your time! 

Click on the pic above to hear an opinion without an agenda, don't let fund companies scare you into churning your account or not using your money. 

Contact me for fee only financial planning in Saskatchewan . Kathy Waite  
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Making a terrible situation a little less terrible

8/14/2015

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Daily I work with clients to "disaster proof" their lives. For you youngsters we make sure that life can go on as normally as possible for your family if you are no longer here and for the empty nesters that everyone knows where everything is and what to do " just in case" .

It all seems pretty theoretical but time to time I come across someone who didn't do it and the worst happened and they regret it . 

Read Crystals story by clicking on the picture below , she was away on a conference, her husband age 33 was home with the kids and died in his sleep . She says   "My husband didn’t have life insurance, which was a bad call on our part (if you don’t have life insurance, get it now) and the burden placed on us with final expenses & moving expenses has been tremendous, which just added stress onto our already broken hearts. "

Lets keep Crystal and the kids in our thoughts and make sure it doesn't end this way for any one we love 



Kathy Waite fee only financial planning in Regina, Saskatchewan 


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Whats the secret to a happier healthier life?

8/12/2015

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Just retire! 

in case you need an excuse click on the happy couple in the picture to read the research that confirms you are likely to feel happier and healthier as soon as you retire 


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Proud to be called obscure

7/20/2015

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You have a financial plan? But are you implementing it? No change no results 

Plans before products!
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Money ninja skills ......

7/19/2015

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Satisfying week.


$1500 in unclaimed grants to help with children's education unearthed. Plus growth over the years will be a years tuition.

Another family $3800 a year saved and diverted to what really matters to them. 

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Craven kick off feels like summer has arrived! 

7/9/2015

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How to make your money go further

6/28/2015

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I have been a busy bee, upgrading my education with a new designation. Will be sharing with all my clients as i go . 
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    Kathy Waite 
    A compulsive reader with a million articles saved in her Evernote and Google book marks, known to drive round the block to read a billboard she missed, is sharing some of the best she sees here for you. 

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