Inside This Issue:
• Certainty in an Age of Uncertainty
• Happy 60th Birthday, RSP!
• Teaching Kids About Money
• The Value of Dividend-Paying Equities
• In Brief: Housing Market Changes
• Elder Care: Planning Ahead
http://bondsmakeiteasy.org For several years, Doorways to Dreams (D2D) Fund has tested strategies to help lower-income working people direct part of their annual tax refunds to savings. During tax season 2009, D2D and partners around the country offered nearly 40,000 tax filers a chance to buy a U.S. Savings Bond with part of their refunds.The findings from the study point to the unique power of U.S. Savings Bonds to re-energize America’s historical orientation toward thrift and to help all Americans participate in saving as a hedge against crises and a resource to enable strategic investments, like a home purchase or college education.
In this edition of Return On Investment, we have included information on the following topics:
1. The Importance of Risk Control
2. Are You Nearing the Age of 71?
3. Pension Reform: The CPP is Set to Change
4. Transferring Wealth: Preparing Your Heirs
5. Unclaimed Balances: Are Funds Owed to You?
6. Year-End Tax Planning Considerations
http://bondsmakeiteasy.org For several years, Doorways to Dreams (D2D) Fund has tested strategies to help lower-income working people direct part of their annual tax refunds to savings. During tax season 2009, D2D and partners around the country offered nearly 40,000 tax filers a chance to buy a U.S. Savings Bond with part of their refunds.The findings from the study point to the unique power of U.S. Savings Bonds to re-energize America’s historical orientation toward thrift and to help all Americans participate in saving as a hedge against crises and a resource to enable strategic investments, like a home purchase or college education.
In this edition of Return On Investment, we have included information on the following topics:
1. The Importance of Risk Control
2. Are You Nearing the Age of 71?
3. Pension Reform: The CPP is Set to Change
4. Transferring Wealth: Preparing Your Heirs
5. Unclaimed Balances: Are Funds Owed to You?
6. Year-End Tax Planning Considerations
This seminar\'s original version became part of the template for Prudential Securities coordinated marketing programs. Participating brokers saw an increase in business that was three times the firm average.
This seminar\'s original version became part of the template for Prudential Securities coordinated marketing programs. Participating brokers saw an increase in business that was three times the firm average.
A talk given in Berlin to the Digitale Chancen agency concerned with Digital Inclusion.
We developed a socially inclusive model of learning based on user behaviours in UK online centres derived from research by LTRI (John Cook).
The Community Development Model of Learning was an attempt to answer questions by Diana Laurillard on how we could make that research useful
Our view was that inclusion in learning needs to be interest-based not curriculum-based, and that people would work how to develop their communities socially rather than themselves personally.
This describes some features on how to design for that
Measuring social impact nyu presentation (1)Nerissa Clarke
Summary of my research findings on Social Return of Investment (SROI) metrics: What makes a "socially responsible" company? How do we measure it? What can we learn from the measurement systems that already exist? How can we get businesses to care about maximizing social impact?
From Charity to Change: Social investment in selected Southeast Asian countriesJared Tham
Charity to Change defines social investing broadly for the region as including both impact investing as well as evolving practices in philanthropy. The study focuses on Indonesia, Philippines, Singapore and Thailand and examines the emerging ecosystem for social investment in each of these countries, with a view to identifying gaps and obstacles to the advancement of the field. A section containing reports on current social investing developments in Cambodia and Vietnam is also included in this publication.
What Is Social Return On Investment (SROI) And How Do You Apply It?Rizwan Tayabali
For many of those who are looking to start up a social enterprise, the framework of Social Return on Investment (SROI) could prove to be crucial in both understanding and presenting our social impacts in economic terms. Anything that helps raise funding and support has to be worth taking seriously, so here's a short overview of
SROI.
This PPT is designed to introduce the concept of Social Return on Investment (SROI) and to outline the pilot framework as applied in Kisumu Kenya in July of 2011.
This is a presentation for Blue Edge Financial Planning for a post on their Facebook page.
It is their Spring newsletter.
You can follow them on Facebook at:
http://www.facebook.com/blueedgefinancialplanning
For Those Who Want to Prosper & Thrive in Retirementfreddysaamy
http://ekinsurance.com/financial/retirement/
Our core capital should be designed to outlive us. In fact, it’s important for you to start thinking about your money in terms of it outliving you, not the other way around. You don’t want to outlive your money.
We are pleased to share this month's edition of the IBB Wealth Magazine. An interesting and helpful read in the current economic climate, covering topics such as pensions, retirement and investments.
Download our latest magazine inside, you’ll find an
array of articles about how we can help you further
to plan, grow, protect and preserve your wealth. As
we all know, the ultimate goal money can buy is
financial freedom
Everyone wants to be more financially secure, but don't know the basics of how to get there. This presentation is a roadmap with seven simple rules for financial success. It is part of a series of seminars offered by Saunders Learning Group on personal money management. You can now view the presentation here, order the Family Financial Freedom book from any of the ebook sites for iPhone, iPad, Kindle, Nook, Kobo reader etc. contact me at floyd.saunders@yahoo.com for a copy of the presentation or more information on how to get seminar materials.
Emerging economic trends are going to make the future very difficult for millenials who hope to buy a house or have savings for retirement. Learn the basics of financial literacy; how to avoid debt, build a nestegg and acquire advice on personal portfolio management.
To paraphrase Dickens, there’s a lot of controversy today about whether we live in the best of times or worst of times concerning retirement. On the one hand, many Americans generally have some kind of retirement support, if you include Social Security, Medicare, private and public pension plans, and the many types of pre-tax retirement plans, such as IRAs and 401(k)s.
On the other hand, demographic and economic forces are making retirement itself a much bigger challenge, primarily because people live longer now. That means you need to work and save enough today to somehow pay for later without employment — a tall order. And recent market upheavals have demonstrated that you may not be able to rely on the stock market in the short term to pay the bill.
This presentation will introduce you to strategies that could help you to potentially build a bigger nest-egg during your working years, make it last longer in retirement, and even pass on more to your heirs.
Because, after all, retirement should be a time to finally relax, stop worrying and enjoy life. But you can’t escape the daily grind until you are financially independent, which in the end is what retirement is all about. So bottom line, let’s talk about working toward financial independence.
In this issue:
1. TD Wealth Asset Allocation Committee: Market outlook: the year ahead
2. TD Economics: A foundation for uncertain times
3. TD Wealth: New principal residence exemption rules
We expect the Bank of Canada to keep its overnight
rate unchanged at 0.50% next week.
The Bank is likely to echo its recent statements that the downside risks to inflation have increased, leading to an overall dovish tone to the statement and accompanying Monetary Policy Report. We expect the Bank to remain on the sidelines until 2019.
Recent fiscal and macroprudential policies have helped ease some of the pressure off the Bank of Canada, with last week’s new housing sector measures removing some of the downside risks from household imbalances.
1. Time: A most Valuable Asset
2. Federal Budget 2016: A Recap
3. Perspective: A Story of Bulls and Bears
4. The Big Picture: Beneficiary Designations
5. How are my Dividends Taxed?
6. Understanding the Fees You Pay
The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/2 per cent. The Bank Rate is correspondingly 3/4 per cent and the deposit rate is 1/4 per cent.
The global economy is evolving largely as the Bank projected in its April Monetary Policy Report (MPR). In the United States, despite weakness in the first quarter, a number of indicators, including employment, point to a return to solid growth in 2016. Financial conditions remain accommodative, with ongoing geopolitical factors contributing to fragile market sentiment. Oil prices are higher, in part because of short-term supply disruptions.
In Canada, the economy’s structural adjustment to the oil price shock continues, but is proving to be uneven. Growth in the first quarter of 2016 appears to be in line with the Bank’s April projection, although business investment and intentions remain disappointing. The second quarter will be much weaker than predicted because of the devastating Alberta wildfires. The Bank’s preliminary assessment is that fire-related destruction and the associated halt to oil production will cut about 1 1/4 percentage points off real GDP growth in the second quarter. The economy is expected to rebound in the third quarter, as oil production resumes and reconstruction begins. While the Canadian dollar has been fluctuating in response to shifting expectations of US monetary policy and higher oil prices, it is now close to the level assumed in April.
Inflation is roughly in line with the Bank’s expectations. Total CPI inflation has risen recently, largely due to movements in gasoline prices, but remains slightly below the 2 per cent target. Measures of core inflation remain close to 2 per cent, reflecting the offsetting influences of past exchange rate depreciation and excess capacity.
Canada’s housing market continues to display strong regional divergences, reinforced by the complex adjustment underway in the economy. In this context, household vulnerabilities have moved higher. Meanwhile, the risks to the Bank’s inflation projection remain roughly balanced. Therefore, the Bank’s Governing Council judges that the current stance of monetary policy is still appropriate, and the target for the overnight rate remains at 1/2 per cent.
In this issue:
TD Wealth: Developing a roadmap for success
TD Economics: Oil prices remain a wild card for Canada’s outlook
TD Wealth Asset Allocation Committee: Market Outlook
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
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Contact with Dawood Bhai Just call on +92322-6382012 and we'll help you. We'll solve all your problems within 12 to 24 hours and with 101% guarantee and with astrology systematic. If you want to take any personal or professional advice then also you can call us on +92322-6382012 , ONLINE LOVE PROBLEM & Other all types of Daily Life Problem's.Then CALL or WHATSAPP us on +92322-6382012 and Get all these problems solutions here by Amil Baba DAWOOD BANGALI
#vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore#blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #blackmagicforlove #blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #Amilbabainuk #amilbabainspain #amilbabaindubai #Amilbabainnorway #amilbabainkrachi #amilbabainlahore #amilbabaingujranwalan #amilbabainislamabad
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
NO1 Uk Divorce problem uk all amil baba in karachi,lahore,pakistan talaq ka m...Amil Baba Dawood bangali
Contact with Dawood Bhai Just call on +92322-6382012 and we'll help you. We'll solve all your problems within 12 to 24 hours and with 101% guarantee and with astrology systematic. If you want to take any personal or professional advice then also you can call us on +92322-6382012 , ONLINE LOVE PROBLEM & Other all types of Daily Life Problem's.Then CALL or WHATSAPP us on +92322-6382012 and Get all these problems solutions here by Amil Baba DAWOOD BANGALI
#vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore#blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #blackmagicforlove #blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #Amilbabainuk #amilbabainspain #amilbabaindubai #Amilbabainnorway #amilbabainkrachi #amilbabainlahore #amilbabaingujranwalan #amilbabainislamabad
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
1. David Rutledge
Investment Advisor
520 17th Street, Suite 200
West Vancouver, BC V7V 3S8
D 604 981 4447
T 604 981 4400
david.rutledge@td.com
davidrutledge.ca
Winter 2017
Certainty in an Age of Uncertainty
Over most of 2016, the market climbed a “wall of worry”. The uncertainties
were legion: ongoing questions about where oil prices would stabilize, continuing
geopolitical issues, a surprise “leave” vote under Brexit and a stunning U.S. presidential
election outcome where polarized Americans acknowledged their desire for change.
Even Canada’s path to stronger economic growth remained in question. As we start a
new year, there is no doubt that many uncertainties persist.
Amidst all of the uncertainty, some things are more certain. Central banks have
created a peculiar world, where interest rates have been kept at low levels for many
years to help stimulate economies. In some parts of the world, negative interest rates
prevail. Closer to home, we are likely to see interest rates held at lower levels for the
foreseeable future.
Low interest rates are a double-edged sword. While they are great for borrowers,
they are quite a different story for income investors. Returns of one or two percent
can be quite discouraging, especially since they may represent a negative return in
terms of purchasing power after factoring in taxes or inflation.
As such, today’s reality is that the stock market has been, and continues to be, a
better way to deliver a cash flow stream compared to alternatives like government
bonds. One of the ways in which this can be achieved is through dividends. Many
quality companies continue to have a history of paying or even boosting dividends
through both good times and bad. In fact, a rising share of the total return from the
equity markets has come from the dividend yield and dividend growth. This has been
the case in Canada, where over the past 25 years the compounded annual return of
the S&P/TSX Composite Index with dividends reinvested has been 8.6 percent and
the total return yielded almost 1.8 times the return of the index alone (from 09/30/91
to 09/30/16). It should also be remembered that even during this time, there were
various rough periods including two of three bear markets that saw the index drop
by 45 percent. Investors shouldn’t overlook the impact of dividends and on page 3
we discuss some of the reasons to embrace dividend-paying equities.
As we look forward to the year ahead, despite the many uncertainties, we shouldn’t
lose sight of the fact that Canada’s financial and economic systems continue to
function well and remain the envy of many other countries of the world. Many
hardships have challenged the Canadian financial markets over recent years, but
we should maintain confidence knowing that our economy has remained relatively
resilient. We wish you health, happiness and prosperity in 2017, and remain here to
support you.
In This Issue
RSP: Happy 60th ........................... 2
Value of Dividend Paying Equities .... 3
Housing Market Changes ............. 3
Elder Care: Planning Ahead .......... 4
Return On Investment
TD Wealth Private Investment Advice
2. Return On Investment 2
RSP Season is Here
Happy 60th
Birthday, RSP! (Time to Take Action)
For 60 years, the registered Retirement Savings Plan (RSP)
has become a valuable part of many investors’ wealth and
investment plans. As the annual deadline for contributions
approaches, we encourage you to do a more detailed check-up
on your plan. Here are some things that may be reviewed:
• Beneficiary Designations — Ensure that you have updated
beneficiary(ies) designated in the plan documentation
(in Quebec this designation must be made in your will
or marriage contract). Understand that there may be tax
consequences to your estate depending upon who has
been named as beneficiary(ies). There may also be special
considerations to address if designating a minor child (which
vary depending on provincial or territorial laws), an individual
with a disability (whether or not they are a beneficiary of a
Registered Disability Savings Plan) or non-residents.
• U.S. Estate Tax — Currently, U.S. securities held within your
RSP can have U.S. estate tax implications, even if you are
not a U.S. citizen. Depending on your particular situation,
you should consider whether it is advantageous to hold U.S.
securities directly or instead, indirectly – either through a
holding company or through a Canadian mutual fund that
invests in the U.S.
• Spousal RSP — There may be opportunities to split income
through the use of a spousal or common-law partner (CLP)
RSP. Remember that the total amount you can deduct for
contributions you make to your RSP and your spouse/CLP’s
RSP cannot be more than your RSP deduction limit.
Please consult a professional tax advisor before acting on the
above information; tax consequences vary with particular
circumstances. Reminder: The last day to make RSP
contributions for the 2016 tax year is March 1, 2017.
Please call for assistance with any RSP matters.
Having conversations with children or grandchildren about
money has the potential to yield tremendous returns down the
road. Just think about the head start that a young person could
have with an “extra” $500,000 nest egg in retirement. That’s
what would result by the age of 65 if a TFSA was started at
18, by contributing $5,500 for only 12 years at a compounded
annual return of 5 percent.
It Starts with Saving!
Some of the most financially successful people are able to
consistently put aside a regular part of their income for the
future. Children should learn that we are always balancing
what makes us happy now and what will make us happy
later, and that saving is one way to fulfill our future needs.
Giving children the chance to work toward a goal can help
teach the concept of saving. Older children can be taught that
compounded interest can help to reach a goal more quickly.
It’s not just the value of saving and compounded growth that are
important lessons. Teaching children other financial skills can be
beneficial, and experts say that conversations can start at any age:
Managing Money — Providing kids with an allowance may
be one way to teach kids how to manage money through a
discretionary income. It can teach that there is never enough
money to buy everything we want and that we often need
to prioritize our needs. For older children, an allowance can
Preparing Future Generations
Teaching Kids About Money
provide learning opportunities such as keeping track of money,
understanding the cost of goods or budgeting.
Delayed Gratification — Our world has become “on
demand”, driven by influences like on-demand television and
one-click internet shopping. This has challenged the concept of
delayed gratification. But learning how to delay gratification can
be an important skill. The Stanford marshmallow experiment
was a series of studies in which a child was offered a choice
between eating one marshmallow immediately or two
marshmallows after waiting a short period of time. Children who
were able to wait longer tended to have better life outcomes.1
Financial Education in a Changing World
As technology continues to play an increasing role in our
lives, financial education should also include internet safety.
Children should be taught the dangers of revealing personal
information over the internet. Even the most innocent social
media sites can broadcast personal data that can be used by
unscrupulous individuals. Broadcasting family wealth can also
have unintended consequences. Teaching how to filter false
information can also help to protect against hoaxes.
In short, a little bit of financial education can go a long way. As
the saying goes: “mighty oaks from little acorns grow”.
Source: 1. “Cognitive and Attentional Mechanisms in Delay of
Gratification”, Journal of Personality and Social Psychology, February, 1972.
3. In Brief: Housing Market Changes
More changes are on the way relating to Canada’s housing
market. Here are some of the more important changes, in brief:
Selling your home? New reporting rules apply. As of the
2016 taxation year, you will now be required to report the sale
of your home to the Canada Revenue Agency on Schedule
3, Capital Gains of the T1 Income Tax and Benefit Return.
Previously, taxpayers were not required to report the sale of a
home if it was their principal residence for each year of ownership.
Penalties will apply if the sale of the home is not reported.
Only certain trusts will be able to designate property as a
principal residence. Previously, various types of personal trusts
were entitled to claim the Principal Residence Exemption (PRE).
New rules impose additional requirements on trusts holding a
principal residence and limit the PRE to the following general
types of trusts: alter ego, spousal or common-law partner, joint
spousal/partner, qualified disability trusts and trusts for minor
children of a deceased parent, effectively limiting the beneficiary
Return On Investment 3
of the trust to family members of the person creating the trust.
A mortgage rate stress test will apply to all insured
mortgages. All low- and high-ratio insured homebuyers must
qualify for mortgage insurance at an interest rate that is the
greater of their contract mortgage rate or the Bank of Canada’s
conventional five-year fixed rate. Other stress test rules also apply.
For more information, please see the Department of Finance
website: www.fin.gc.ca/n16/data/16-117_2-eng.asp
Note: At the time of writing, some changes have not received Royal Ascent.
Maintaining Confidence
The Value of Dividend-Paying Equities
The long-term case for dividend-paying equities continues to be
compelling. Here are some reasons to have confidence in the
value of dividends within your wealth management strategy:
An integral component of long-term returns. Dividend-
paying companies represent a significant part of long-term
returns within the equity market. Over a period of 25 years
from 1991 to 2016, the compounding effect of dividends
on the S&P/TSX Composite Index has been profound – with
reinvested dividends providing around 45 percent of total
returns. On this basis, an investment of $1,000 would have
yielded around $4,350 today on the index alone but around
$7,800 if dividends were reinvested.1
May provide a reliable and steady cash flow stream
that can be used for income, or reinvested. Today’s
persistently low interest rates and slower growth have
made it challenging for investors to find income-generating
investments. Dividend-paying equities continue to provide
a steady stream of income to an investor. Many quality
companies will consistently pay dividends year after year
because it is seen as a sign of economic health (i.e., there is
excess cash with which to pay shareholders).
Historically have provided greater protection in bear
markets. The dividend yield of a stock can provide a degree
of downside protection. The dividend yield reduces the
potential impact of a decline in share price during economic
downturns. Studies have also shown that dividend-paying
stocks have proved to be a useful buffer when investors
experience high degrees of volatility.2
A tax-efficient means of investing. Remember that not
all income sources are treated equally by the tax authorities.
Canadian dividends are potentially one of the lowest-taxed
sources of investment income in Canada, when compared
to interest income or foreign income. This is due to the non-
refundable tax credit applicable to most “eligible dividends”,
generally dividends issued by Canadian public companies.
Consider that for each dollar of dividend income received, an
Ontario resident taxed at the highest marginal tax rate would
keep about 14 cents more compared to a dollar of fully taxable
income (based on an assumed 53.53 percent marginal tax rate
and a 39.34 percent effective tax rate for eligible dividends).
The potential for dividend growth. Don’t overlook the
potential impact of dividend growth. The S&P/TSX Composite
Index dividend has had an annualized growth rate of 5.2
percent over the past 25 years.3
And, consider the extreme
case of Johnson and Johnson, a company that has increased
its dividend payout for 54 consecutive years. Shares of Johnson
and Johnson purchased in 1972 (and held) would have had
dividend returns of approximately 3,300 percent today!4
In short, we continue to advocate the benefits of quality dividend-
paying stocks as part of your wealth and investment plan.
Sources: 1. S&P/TSX Composite Index Total Return and Index price return
from 07/30/91 to 07/29/16; 2. Franklin Templeton Investments, “The Case for
Dividend-Paying Equities in Today’s Market”; 3. Using same 25-year data. Index
dividend = Index Total Return – Index Price Return; 4. Based on JNJ dividend
factor to August 2016, provided on corporate website: investor.jnj.com
4. TD Wealth Private Investment Advice
A Division of TD Waterhouse Canada Inc.
520 17th Street, Suite 200
West Vancouver, BC V7V3S8
T: 604 981 4400
F: 604 981 4432
http://davidrutledge.ca
With the Compliments of:
David Rutledge
Investment Advisor
604 981 4447 david.rutledge@td.com
Jen Lloyd, PFP
Assistant Investment Advisor
604 981 4424 jen.lloyd@td.com
Elder Care: Planning Ahead
As with most aspects of financial planning, an earlier start
can have its benefits and this is no exception when it comes
to planning for elderly care. The process is best started
when individuals are healthy and not at risk of a crisis.
All too often, planning is put off until too late, because
conversations are difficult or uncomfortable. However, a crisis
can force the need to make quick decisions, under stressful
conditions and with insufficient information. Planning well in
advance is not only important from a financial perspective –
it can also help to maintain familial harmony, by having the
family agree on a suitable path forward.
Having the Discussion
As you plan for the discussion, here are some things that
may be addressed with aging family members:
Power of Attorney — Power of attorney documents are
important to have in place for a time when an individual
may need help managing their affairs or in the event of
incapacity. Remember that in order to sign any type of
power of attorney document, a person must be mentally
capable, so planning ahead is important.
Estate Planning — Elderly individuals should have a
basic estate plan in place, which includes an updated will
and names an estate administrator/executor. Financial
information for aging individuals should be kept in a place
where a trusted person has access. Helping the elderly to
get the support to construct a comprehensive estate plan
can also have its benefits. Even after retirement, putting a
proper plan in place can help to minimize taxes or create a
desired legacy, as examples.
Types and Cost of Care — Understanding what types of
care are available, the associated cost and what is desired
by the individual in question is an important start. There
are many options for caregiving support, from assisted-
living facilities to full-time, live-in caregiving. The cost
can vary depending on whether the care is government-
supported or private.
Many families are not prepared for the potential future cost
of care; some may not be aware that government programs
do not fully cover long-term care costs. Across the provinces,
the out-of-pocket cost for basic, long-term care can average
around $1,500 per month for government-supported
facilities and rise to in excess of $4,000 per month for
private facilities.1
By planning ahead, potential costs can be
better managed, such as by building them into a financial
plan or using long-term care or critical illness insurance.
Support for Caregivers
There are many informational resources and organizations
available to provide support, depending on your place of
residence. Keep in mind that there may also be tax relief
for caregiving. Under certain conditions, the federal family
caregiver tax credit may be available if you are caring for
an elderly family member in your home. As well, some
caregiving expenses may be considered to be medical
expenses or may be claimed under the disability tax credit.
Provincial tax relief may also be available. The Employment
Insurance compassionate care benefit may provide some
assistance to those who have temporarily left work to
provide care to a gravely ill family member. We recommend
working with a tax accountant that can advise on your
particular situation.
Planning for elderly care can be stressful, but starting
the process early can help you to find the best resources
available and help to minimize any associated anxieties. We
remain here to provide support with any financial or estate
planning matters.
Source: 1. Varies by province. Sun Life Financial “Long-Term Care Costs”, 2016.
The information contained herein has been provided by J. Hirasawa & Associates for TD Wealth Private Investment Advice and is for information purposes only. The information has been drawn from sources believed to be reliable. Where such
statements are based in whole or in part on information provided by third parties, they are not guaranteed to be accurate or complete. The information does not provide financial, legal, tax, or investment advice. Particular investment, trading, or tax
strategies should be evaluated relative to each individual’s objectives and risk tolerance. J. Hirasawa & Associates, TD Wealth Private Investment Advice, The Toronto-Dominion Bank and its affiliates and related entities are not liable for any errors or
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