Tedesco & Associates Insurance and Financial Services

10/22/2024

https://ca.finance.yahoo.com/news/retiring-early-hurts-financial-resiliency-153700978.html

TORONTO — A Manulife report shows retiree experiences vary significantly based on when a person retired, and whether it was planned or earlier than expected.

03/19/2024

When can I expect my tax receipts to be mailed?

Employers have a deadline of the end of February for filing T4 information returns with the Canada Revenue Agency. This deadline only applies to your T4 income slips if you were paid an income in the previous year from employment.

Financial Institutions have until the end of March to deliver tax receipts to clients. It is the case that some financial Institutions provide tax receipts to clients earlier than the end of March. Not all financial institutions follow the same schedule.

Individual income tax returns must be filed with the Canada Revenue Agency before the end of April to avoid late filing penalties.

10/17/2022

A big takeaway from economic history is that the past wasn’t as good as you remember, the present isn’t as bad as you think, and the future will be better than you anticipate.

04/08/2022

Tax-Free “First Home Savings Account” (FHSA)
Budget 2022 proposes to create the Tax-Free First Home Savings Account (FHSA), to help individuals save for their first home. Contributions would be subject to an $8,000 annual contribution limit. Budget 2022 anticipates that the infrastructure will be in place for individuals to be able to open an FHSA and start contributing in 2023.

03/07/2022

It’s easy to forget about our own mortality, to forget time, to think that you’re going to live forever. The idea that you’re going to die and that life is short is only depressing if you’re thinking about it wrong.
If you’re thinking about it right death should give you a sense of priority. It should even give you a sense of meaning; it should help you see what’s important to you, what you’re trying to do while you’re here on this planet.

12/09/2020

Things are starting to look up around here today.

07/31/2020

Here is a great post.

Dr. Alexa Caturay, Acting Medical Officer of Health at Hastings and Prince Edward Public Health, demonstrates how to safely put on and remove a cloth face co...

03/20/2020

We are only at the beginning of this health event in Canada. The negative news will continue in the coming weeks as we start to see more and more of the people we know and love infected by this virus. I would encourage you to stay invested at this point and ride this out. The market will bounce up and down given the news flow with lots of scary drops followed by quick bounce backs. The problem with trying to “time the market” is that you have to be right twice. You have to predict the top of the market and the bottom. We have already missed timing the top of the market in February now the question is where is the bottom?

Focusing on the virus for a moment, I am already seeing signs of things improving in China. As you know the virus started there so they are about 6 to 8 weeks ahead of where we are in North America. The virus is going to work its way through the population here and then we are going to be back to business as usual. Your job now is to do what you can to slow the spread of the virus and stay healthy. For now we have cancelled all appointments scheduled for March but I am still at my desk to take your calls and emails. Should I or Lisa become ill then we will follow guidelines and self-quarantine until we recover. If this happens you can always call the fund companies directly for service until I return to the office.

01/06/2020

Tax-Free Savings Accounts

Happy New Year everyone The federal government added $6,000 of TFSA room for 2020. The new overall maximum you can contribute to a TFSA is now at $69,500. We can help you top up your Tax-Free Savings Account. Give us a call for more details. 613 966-2990

09/24/2019

Research released Monday by The Principal found that more than four in 10 people who fully funded or were very close to fully funding their RRSP accounts said that one of the sacrifices they made to save so much was that they lived in a modest home. (This -- along with owning older cars -- was one of the two top answers.)

07/31/2019

Knowledge Is Power!

Coercive tied selling is illegal and is prohibited under Section 459.1 of the Bank Act. More specifically, it is against the law for a bank to "impose undue pressure on, or coerce, a person to obtain a product or service from a particular person, including the bank and any of its affiliates, as a condition for obtaining another product or service from the bank".

You cannot be unduly pressured to buy a product or service that you don't want from a bank or one of its affiliates, to obtain another bank product or service.