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Fresh insights from our Professional Wealth Advisors.
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RESP Grant BC offers

New Parents: Making RESP Contributions

I recently became a new parent at the ripe old age of 40. It has been exhausting, amazing, and overwhelming all at the same time. There are many things to consider financially for your new child, and this can feel daunting.
The first topic I will tackle in this series of blogs is the Registered Education Savings Plan (RESP).
RESP Grant BC parents should access for their child’s education
RESP’s are made up of contributions (principal) and different government grants. For example, […]

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Investing is a bumpy road

Investing: Never a Smooth Road

Fear and greed—the two emotions that are said to drive the equity markets. How quickly, it seems, that the sentiment can oscillate from one extreme to the other. Over recent times, Canadian and U.S. equity markets have experienced periods of remarkable advances in prices, as well as many months which seemed to forecast an Armageddon just around the corner.
It is interesting how quickly the focus of many market commentators can shift with these movements. After a volatile December for […]

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Arrowsmith Search and Rescue members

Volunteering for Arrowsmith Search & Rescue

I have always wanted to volunteer in my community, doing something that impacts peoples lives. So, two years ago I joined Arrowsmith Search and Rescue. I am really enjoying the experience, and hope that my efforts positively affect the people we serve. 
Because of my previous military training, I believed that S&R (Search & Rescue) was the best fit for me. From a training perspective, we are all required to complete the initial MIT (Member in Training) course. If you graduate from that course, you then move […]

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Choosing a Beneficiary

Do You Need to Revisit Beneficiary Designations?

Naming a beneficiary is a big decision that may sometimes be overlooked. At some point in your life, you may buy a life insurance policy or start a new job with a retirement plan and receive a form that includes a section for the names of your beneficiaries. Many people, unprepared, leave it blank or complete the section without much thought. If years have gone by since completing account paperwork, it may be time for a review. Here are […]

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financial advisors parksville - carly broetz

Financial Advisors Team in Parksville Continues to Expand

Precision Wealth Management is pleased to announce the arrival of Carly Broetz. Carly joins the growing financial advisory team at our office in Parksville.
Carly comes to Precision Wealth from Fidelity Investments of Boston Massachusetts, and was based in their Vancouver office. Fidelity is one of the largest investment asset management companies in the world.
Carly brings her energy and client relationship skills to our company. She looks forward to collaborating with our team of financial advisors in delivering wealth management services to Parksville, […]

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Navigating the Passive Income Rules: IPPs for Retirement

With changes to passive income rules now in effect for small business, owners may be looking for ways to invest income earned in their corporation. Contributing funds to an Individual Pension Plan (IPP) may help to increase retirement savings on a tax-deferred basis outside of the corporation.
What is an IPP?
An IPP is a defined-benefit pension plan that is registered with the Canada Revenue Agency (CRA). While the IPP has been around since 1991, there has been renewed interest in […]

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Investing to Beat the Average

I WILL stick to the investment plan when things are calm, and especially when I’m feeling anything but calm. When my emotions are running high, it is the wrong time to make rational decisions, including rethinking my investment objectives.

Think about the last financial decision that you made – whether that be a major purchase like a home or vehicle, booked a vacation or simply bought a new wardrobe. How much time did you spend researching that decision, and how […]

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Have you been Diagnosed with Underliving?

Underliving is a common condition mostly found among retired Canadians, and it is caused by the individual’s inability to give permission to spend their own money. This inability is due to lack of planning—not knowing what you have—and what you can spend.
This lack of planning pushes people toward the default behaviour of hoarding money, as they are unsure of how long it will last. It is natural to hoard cash when you have no plan, and one should not […]

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Human Psychology, Market Timing, and the Inverted Yield Curve

Clients have asked recently about the reported inverted yield curve and what that means for their investments. Further, they have been asking if it is time to sell and go to cash. 
Many are pointing to the inverted yield curve as the predictor that a recession is around the corner. An inverted yield curve is when longer term interest rates (10 years) move lower than short term interest rates (3 month). This can be a good predictor that a recession will occur sometime […]

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New Retirement Investment Vehicle coming in 2020

The federal budget has introduced a possible solution to help Canadians highly concerned about out-living their money. A recent CBC news article refers to a new type of retirement savings product — ALDAs, or Advanced Life Deferred Annuity, and VPLAs, or Variable Payment Life Annuities — that may be hitting the product shelves of financial institutions in 2020. 
The plan will allow retirees to keep more savings tax-free until later in retirement. The rules are being amended to permit seniors to purchase […]

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