Live Wealthy Blog

Fresh insights from our Professional Wealth Advisors.
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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 […]

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 […]


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 […]


“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. […]

Top Tips for Wealth Management in an Uncertain Economy

Top 3 Tips for Wealth Management Planning in an Uncertain Global Economy

At Precision Wealth Management we are strong believers that ‘living wealthy’ is a process. Rather than being about a short-term goal, it’s the result of years of smart, strategic wealth management planning, with financial partners you trust. It can be hard to know when to stay the course, and when to alter your wealth management planning strategies. This is even more the case when worldwide economies are in a time of higher-than-average flux.
Market volatility can be a stressful and […]

Stay Calm during this global crisis

Focus on Health and Stay Calm

A message from Cliff Broetz, Leader of Strategic Development, on behalf of the Precision Wealth Management Team.
Dear Clients,
Here we are again urging you to stay calm. To focus on health and not on financial markets. That message is now being shouted rather than whispered. I’ve attached a few articles from early (very early) reading this morning. I sincerely hope these articles help:

The U.S. Is In A Bear Market. There Could Be A Recession. But This Is Not 2008
A Frontline […]

Commentary on the Markets & Coronavirus

Market Commentary: ‘Stay Patient’

A message from Cliff Broetz, Leader of Strategic Development, on behalf of the Precision Wealth Management Team.
Dear Clients,I was recently reminded of an article I wrote in 2008, when there was a financial crisis and every day was challenging. I wrote about remaining steadfast at my desk for long hours to calm frayed nerves. If clients needed me, I was there. And the next article I wrote changed just slightly to say, ‘you will now find me working hard […]

TedTalks about Coronavirus

Coronavirus, Markets, Lunacy and Truth

One of the serious difficulties seemingly every day is finding truth in reporting. News can be old news, unbalanced news, fake news, exaggerated news and outright lies. What can we believe? The Coronavirus headlines is the latest such example. Oh, and don’t even try looking for political leadership on the subject, not on this continent at least.
I had my haircut the other day and my ‘stylist’ said he was at Costco recently and the cashier line-ups were all the […]

B.C. Training and Education Savings Grant

Parents & Guardians: Claim Your Free Money for your Child’s Education

Are you a parent or guardian of a child between six and nine years old? If so, don’t be among the 40 percent of families who aren’t taking advantage of the B.C. Training and Education Savings Grant (BCTESG). After all, it’s free money! 
The B.C. Training and Education Savings Grant is available to eligible children during a three-year window only, and can be used for their future post-secondary education and training. Also, it’s not just parents who can open a […]

Precision Wealth Management

ANNOUNCEMENT: Changes at Precision Wealth Management

It was Heraclitus who 2500 years ago observed that “Nothing endures but change.” In our times, change is happening faster than ever.

Here at Precision Wealth Management, we’ve been undergoing rapid changes over the past 3 years. We believe that these changes are crucial, in order to adapt to the evolving needs of our clients. To that end, we’ve welcomed a new generation of advisors to the team. They bring a fresh perspective and insights from other parts of the […]