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Will you be able to afford your home in retirement?

Guess Article By: Ian Webster, Financial Planner

People looking ahead to life after work often have little idea how much money they spend now, let alone 5 or 10 years into the future.

Expenses never really go away. After all, you have to live somewhere. With the rate of home ownership in Canada hovering near 70 per cent, and with household debt near a record high, most people’s financial health is closely tied to the value of their principal residence.

How will the New Government Affect your Taxes?

Income tax

Depending on your tax bracket, the new government may either cost you or save you big bucks. 

Here are some of the Liberals’ promised tax changes and what they mean to you- When these promised will take effect is currently uncertain:

Do You Intend to Retire From Your Business?

Guess Article By: Alex Lee, Investment Advisor

Whether you intend to sell the business to a third party, transfer it to family members, structure a management buy-out or wind it up, advance planning can help you make better long-term decisions. 

Will your business provide enough to fund your retirement?
If much of your net worth is tied up in the business, you may be less diversified than those who have a more traditional retirement portfolio. Remember that, unlike a salaried employee, it’s up to you to fund your own retirement. If you haven’t given further thought to that far-off day, consider that many business owners each year are unable to sell their businesses for a variety of reasons. These include difficulties finding a suitable buyer and obtaining financing for the successor once they have been identified. 

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