A wealth plan identifies your life goals and provides you with a personalized wealth management strategy to meet your financial milestones and achieve each objective. However, a wealth plan isn’t something you set and forget.
It’s called the retirement risk zone—the period of several years before your retirement date and the initial years of your retirement. The risk is a severe market downturn and its impact on your retirement savings.
Good credit is important whenever you need to borrow to accomplish your goals—say, to buy a car, start a new business or put a downpayment on a home. So, how can you keep your credit score with Canada’s credit bureaus (Equifax and TransUnion) healthy, so your loans get approved at the best possible rate?
The day may come when your parents find it more diöcult to take care of their financial matters. Your help can make a di÷erence, whether it’s in the form of your time, advice or financial assistance.
Each loyalty program has its own rules about whether points can be transferred to a beneficiary, so check your programs’ policies. When allowed, list the loyalty program in your will and name the beneficiary of the points. Also, provide your executor with each loyalty program’s login information.
Relationships depend on trust, and yet research consistently shows that couples aren’t always completely open with each other about their finances. For example, TD’s 2021 Love and Money survey found that 28% of Canadians in committed relationships had a financial secret they hadn’t shared with their partner—and 64% of those with a secret said they have no plans to ever tell their partner about it.