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Fresh insights from our Professional Wealth Advisors.
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Tax Planning is a Year-Round Exercise

Saving Tax is a Year-Round Exercise

Spring is the time when taxes are top of mind as personal income tax returns are due. Did you take action to reduce your tax bill in 2019? Perhaps you can do better this year. Here are four ways to help minimize payables to the Canada Revenue Agency (CRA):

“Reduce” Your Refund — If you receive a tax refund from the CRA on a regular basis, this shouldn’t be a cause for celebration. You’re effectively providing an interest-free loan to […]

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Gradually re-opening our office during Phase 2 of BC's Restart Plan

Phase Two of BC’s Restart Plan: Gradually Re-Opening our Office

Starting Tuesday May 19th, we are gradually re-opening our office. The health of our clients, couriers, staff and advisors, and our families are of the utmost importance. We are taking measures to align with the protocols set by the Provincial Medical Officer, in Phase Two of BC’s Restart Plan.
It is important to note that while we will be open, we are still respecting Social Distancing rules. In addition:

We prefer to run meetings through phone or video conference, unless it’s imperative the meeting be in […]

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Managing Cashflow

Do You Have Visibility Over Your Cash Flow?

Regardless of your life stage or income level, creating a personal cash flow statement can be a valuable exercise. In a basic sense, it is a snapshot of your sources of income, as well as what you’re spending and saving.
Do you know how much you spent last year, or how much was spent on each type of expenditure? Although many of us have good visibility over our income, we may not have a clear picture of where funds are […]

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PWM Staff share stories about working from home during COVID-19

Changing Routines under Changing Conditions: Stories from the Precision Wealth Management Team

COVID-19 has rewritten the way we live, calling for novel measures for a novel virus that has taken the world by storm. Back by popular demand, here are stories from the Precision Wealth Management team about working from home, changing routines, and finding the perseverance to continue serving clients under changing conditions.

From Tracy Levirs, Licensed Assistant/Client Service Manager …

Working from home … not something I ever thought I would be doing. It was definitely a challenge in the first […]

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Working from home during Covid-19

Advisors Tell All about Staying Home During COVID-19

Whether you live at home alone, with roommates, a partner or family, these unprecedented times call for unprecedented measures to keep safe and prevent the spread of COVID-19. Read what our Wealth Advisors have to say about working from home as they shifted gears to continue serving their clients while balancing family during these uncertain times.

From Cliff Broetz …

I start workdays looking at Overseas markets and Futures. This typically begins very early, long before sunrise. Then I plow through […]

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Importance of an Emergency Fund

Pandemic Lessons For The Young: Start an Emergency Fund

It is heartening to read some good news lately. There has been far too much news of the opposite variety during the COVID-19 pandemic, to understate the obvious. But talks of continuing to ‘flatten the curve,’ advancements in science, and gradually re-opening businesses are starting to creep into the daily news—and not a moment too soon.
One of the key financial advice takeaways I have from all this turmoil is the overwhelming need to have an emergency fund.
While it’s been […]

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RRIF Minimum Payments

New Legislation Passed to Reduce RRIF Minimum Payment for 2020

As part of the COVID-19 Emergency Economic Response Plan, the government has passed legislation that allows you to lower your Registered Retirement Income Fund (RRIF) minimum payment for 2020 by 25%.
If you currently have a RRIF, you can reduce your income to the RRIF minimum amount by 25%.
How Are RRIF Minimums Calculated?
Every year your RRIF minimum payment changes based on two factors: 1) Market Value of your RRIF on January 1st; and 2) the Government’s RRIF Minimum percentage for […]

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Self Isolation Day 18

Finding Activities during Social Distancing

A message from Christopher Briggs, Wealth Advisor and Managing Director on behalf of the Precision Wealth Management Team.
One thing is for certain, the novel COVID-19 has redrafted the way we live for the foreseeable future. There is no more of the hustle and bustle we’ve all become so used to.
 
No more early morning commute to work, or late nights at the office. No more driving kids to school. No more picking them up and going to the social centre or dance hall for after-school activities. No more […]

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We Will Be Ready — For Now Let’s Tame this Viral Beast

Good day to all of our great clients. We do miss the regular face to face meetings. Having you in our office is truly something we miss right now. Social distancing is critical during this surreal period with the COVID-19 pandemic, and I have no doubt we will get through this. I absolutely and unequivocally believe in human ingenuity. We have what it takes to get past this so let’s all do our part, and then some.I have a considerable […]

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“Time” Will Tell

I hope this finds you all well and safe.
We are going through an unprecedented health scare. That remains the only thing we think you should be totally focused on. Defence.
We are NOT going through an unprecedented time in capital markets. For me, writing on behalf of the Precision Wealth Management team, this is my third major pullback while being in an Advisory role. And like the images below demonstrate, we’ve seen how this movie ends in the investment environment. […]

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