PAST ISSUE – SPRING 2011

The Certainty of Uncertainty

Spring 2011

In the opening chapter of his book Future Babble, Dan Gardner chronicles the events of the last century that went unforetold and the numerous predictions about the future that failed to materialize. He goes on to explain why wanting to know the future is part of the human condition and how we get it wrong, over and over again. Anyone paying attention since the start of this century knows that there have been some spectacularly wrong predictions in the last decade or so, beginning with the Y2K non-event. At the same time, much of what has shaped life in the 21st century, such as 9/11, wasn’t even on the radar screen. People seeking that extra edge for exploiting developments when investing will find this revelation disappointing. But for others, the certainty of uncertainty serves to reinforce the wisdom of following a disciplined investment plan.

Tips for Preventing Identity Theft

Spring 2011

Identity theft is the modern day nightmare. Someone gains access to your personal information and uses it to drain your bank accounts, rack up charges on your credit cards, borrow money in your name and re-mortgage your home to access your equity. You are left with a myriad of tasks as you try to recover financially and restore your credit history. Even once you’ve repaired the damage, the unease that comes from being a victim of a faceless crime lingers. Given the potential for harm, make preventing identity theft a top priority.

The Looming Tax Liability in your RRSP and What you Can do About it

Spring 2011

If you’ve been following the financial press of late, it would appear that the bloom is off the Registered Retirement Savings Plan (RRSP). Once lauded as the best way for Canadians to save for their retirement, there are cracks now appearing in the RRSP’s appeal. Depending on where you sit in terms of income and age, the RRSP can be your retirement saviour or a Faustian bargain with Canada Revenue Agency. For sure, the RRSP offers the tempting combination of tax-deductible contributions to reduce income taxes today and tax-deferred investment growth to boost your plan’s value. But it also demands that any money coming out of your RRSP is taxed as regular income. And it is this latter requirement that has people rethinking their RRSP strategy.

New Threats to the Global Economic Recovery

Spring 2011

At the end of the 2010, the outlook for the global economic recovery had brightened considerably. In just three short months, new threats have emerged.

What the Task Force on Financial Literacy Didn’t Say

Spring 2011

When the Federal government appointed its Task Force on Financial Literacy in June 2009 all of us at T.E. Wealth had high hopes. After all, we’ve been in the business of elevating financial literacy through financial education and one-on-one financial counselling for nearly 40 years. Over an 18-month period, the Task Force consulted with Canadians and other stakeholders about improving financial literacy in Canada and issued its findings and recommendations in December of 2010. There is much within the Report of Recommendations on Financial Literacy* that we agree with. However, in our opinion, the Task Force’s recommendations simply do not go far enough.

When to Put your Trust in a Trust

Spring 2011

Concerned about taxes? Worried about preserving your estate? Want to make sure inheritances are used wisely? A properly executed trust may be the answer for you.

Trusts, whether they are inter vivos (created while you are living) or testamentary (created through your will after death), are highly effective instruments for achieving precise tax and estate planning goals. On the tax front, trusts can be used to reduce current income tax or lower probate fees and preserve assets in your estate. In addition, trusts can be used to provide financial security for dependent beneficiaries or ensure inheritances are protected. T.E. Wealth has helped many clients achieve these goals through the proper execution of trusts. Keep in mind that the availability of, and rules governing, trusts vary based on provincial jurisdiction. Your T.E. Wealth consultant can help you assess the suitability of a trust for achieving your particular goals.

Women Moving Women across Canada

Spring 2011

The Canadian Women’s Foundation (CWF) Women Moving Women campaign is a unique movement aimed at helping 2,500 women in Canada escape poverty. Their Sisterhood Soiree events bring together women who are committed to raising another woman out of poverty and T.E. Wealth is proud to be the sponsor of this initiative for a second time. The CWF is now halfway towards reaching its goal, with pledges secured to change the lives of 1,260 Canadian women. In the upcoming months, T.E. Wealth will be hosting Sisterhood Soiree events to help the CWF achieve its goal.

Crisis, What Crisis? Markets Shrug off First-Quarter Disruptions

Spring 2011

In the face of the unexpected and potentially disruptive events of the past quarter, the resiliency of the financial markets has been nothing short of remarkable. Political unrest, inflation threats, sovereign debt concerns and natural disasters all ganged up on markets in the first quarter of 2011 and, despite an initial negative response, returns for the most part have been positive.

Is a Medical Concierge Service for You?

Spring 2011

At T.E. Wealth, we are continually looking for new ways to be of value to our clients. As clients plan for lifestyle and life stage transitions that come with retirement, or experience age and health-related changes, additional services are needed. While the delivery of these services may extend beyond the traditional in-house expertise of a financial services firm, planning for them does not. As particular needs are identified by our consultants through the comprehensive planning process, we have often been able to provide clients with customized solutions. Recently, we have taken a closer look at one such area, medical concierge services, to see if these might be of interest to our clients.

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