Womencents

01/18/2022

With the new year comes the opportunity to make additional contributions to registered accounts offering tax advantages. 🥳

On Jan 1, an additional $6000 of TFSA contribution room was added. This brings total available contributions, since 2009 when the TFSA was created, to $81,500. 🤩

Canadians have until March 1, 2022, to make RRSP contributions to use as deductions for the 2021 tax year. The RRSP contribution limit for 2021 is $27,830. Be sure to check your last year’s Notice of Assessment to find your personal RRSP contribution limit as this is based on earned income, past contribution limits available and not used, and any pension adjustments. The RRSP contribution limit for 2022 moves up to $29,210.

While there may be some fine-tuning that takes place around tax season, setting up a savings strategy over the year is so much more effective than trying to play “catch-up”. Steps for an effective savings strategy:
1️⃣ Set a monthly amount based on your income, spending and goals – just start, you can always change it later if the amount ends up being too high or low
2️⃣ Automate it
3️⃣ Target the appropriate account(s) - TFSA and/or RRSP depending on your income level and other factors, such as when you might need this money
4️⃣ Ensure the funds you deposit are being appropriately invested for your time horizon, risk level and goals. TFSA deposits left sitting in cash miss the point as the TFSA account provides you with TAX-FREE GROWTH. 📈

Taking advantage of registered accounts, with a well-thought out savings strategy, GROWS WEALTH. 💰

12/25/2021

Happy Holidays and all the very best of the season from Womencents! 🎄
A big thank you to clients, friends and the community of support we have received to help us in our mission of building

06/08/2021

What will you change?

As we see signs of things opening back up, will you stick to any of the changes you made over the past several months?

If you think back on how the last year and a half has impacted your money habits, in particular, related to spending, saving, investing, income targets, lifestyle choices and goal setting....what has this taught you about what you need, value and want to pursue in the future?
Perhaps you found you became more focused on your finances during this time. What do you want this to look like going forward?

Everyone’s experience has no doubt been different, but we all experienced a financial impact of one kind or another.

Let’s take this opportunity to not blindly go back to our 'old ways' but to be intentional in what we truly missed as well as identify what we are ready to let go of.

06/08/2021

FREE Estate Planning Webinar coming up June 14th at 5pm MDT for anyone who would like to attend!

Womencents will be joined by lawyers from the Wills and Estates law firm, Underwood Gilholme in Calgary to talk about the important topic of Estate Planning.

Estate Planning is about more than just your Will. There are some key considerations we should know, including how the law works, when we look to put these important documents into place.

Please join us by registering at the link below:

Womencents is hosting a free webinar on Estate Planning, focusing on what we need to know today to plan for the future.

05/22/2021

Who is interested in learning more about INVESTING?! 📈

Investing builds and but often women are more hesitant to invest because they feel they don't understand it, are overwhelmed by the many options available or they aren't sure who they can trust.

Join us this Tuesday, May 25th for a FREE webinar where I will be having an open conversation with a licensed portfolio manager from about what is truly important to focus on when we decide to invest. They will be sharing their "5 Simple Rules of Investing" and we will be taking all your questions. This event is open to anyone who would like to join!

Wealthsimple is a high growth robo-advisor in Canada and recently announced its own $750 million financing to continue with its exciting growth plan.

05/16/2021

SO excited and honored to be the speaker for the .calgary event this Wednesday evening (May 19th)!! 🙌

We will be talking 💰👍

This online event is free. Registration link in bio. Please join us!

05/13/2021

Financial Confidence, a topic I am so passionate about. What is it, why is it important and how do we build it? Next week at the Lean In Calgary event, I will be sharing my ideas and perspectives on these questions and the transformations I have seen when we move forward with increased financial confidence. Please join us! Registration is free for this virtual event.

Thank you to Lean In Calgary for hosting me!

https://leanincanada.com/event/calgary-the-confidence-series-financial-confidence/

Cultivate confidence through financial empowerment Join Lean In | Calgary for the final part of our virtual confidence building series. Expanding on part

03/28/2021

“Start where you are and change the ending…” So true for our money lives.
 
A forward-looking focus.
 
The compound effect of implementing positive habits TODAY provides us the opportunity to have CHOICES at different points in our lives when we desire or need them. That, to me, is .
 
Money Club is just over 2 weeks away. We will be focusing on the positive, intentional and compounding steps that change the ending.
 
Would love for you to join me!
Link in bio to register.
 

03/04/2021

This has been in the works for a while and I have had many inquiries so I am very excited to announce the launch of Money Club 2021!

Why am I offering Money Club?

1) I do a lot of speaking and presentations, however, many of them are to private groups. Money Club allows anyone across Canada who wants to build their financial knowledge the opportunity to join.

2) Often I speak for 45 minutes to an hour and I need to choose the topics and detail I can share in that amount of time. With THREE, 90-minute sessions in Money Club, we have the opportunity to cover all of the key areas and in a depth that provides the whole picture.

3) I believe it is important for Canadians to have the opportunity to learn about money where they do not feel pressure to buy an investment product or wonder if the information is biased. Womencents does not sell financial or insurance products. I will be sharing what I believe in and what I have seen work for my clients.

4) I love connecting and building community. While this Money Club will be virtual and there is no obligation to share personal information, I am confident we will build connection as we move through this program together, not only with me but with others also on a mission to build their financial strength.

5) I have added the option for private coaching with the Money Club. (Note: This will be limited in availability so if you are interested, please reach out). I spend a lot of time educating in my private coaching sessions. This provides the opportunity to pull some of that education out and offer in a group format. This way, all one-on-one private coaching time will be focused on developing strategy specific for the client and at a lower overall cost.

I am excited to be able to offer this Money Club in April. If this is something you are interested in, please register and don't put this off for another time. This is for a couple of reasons. First, taking action today gets us on the right path that much sooner. One thing I hear consistently is that clients wish they had done this work sooner. Secondly, I will be pouring my energy into this event and do not currently have a plan to offer it again. Not to say I won't, but I do not have additional dates currently planned for 2021 as I have lots in the works at Womencents!

Thank you for your interest in what I am building to help empower others. If you have any questions, please send me an email:
[email protected].

Hope to see you there!

Womencents Money Club is a 3-part webinar series to help you be more strategic with your money and take control of your financial future.

02/11/2021

Looking forward to being back as a speaker for the CBE Support Staff Association Convention over the next two days. It is one of my favorite events! I have always enjoyed the discussions and engagement of the group. Will be different this year given it is virtual but I am sure we will still have some great . 💲

One of my sessions focuses on how to be more mindful with our money, making intentional decisions and having a strategy to build wealth and financial security. This quote is in the slide deck: "The best way to predict the future is to create it." 🙌 Putting ourselves in control of our financial lives wherever we can to create the future we desire.
 
See you soon CBE Support Staff! Excited for new material I can’t wait to share.






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01/14/2021

RRSP - Registered Retirement Savings Plan – a valuable TAX-ADVANTAGED tool in our toolbox for saving money for the long-term.

What we need to know about the RRSP:

1) Contributions are tax deductions which means they reduce the amount of income taxes you pay.

2) The deadline to contribute for a 2020 tax deduction is March 1, 2021.

3) A contribution on or before March 1, 2021, can be applied to the 2020 or 2021 tax year.

4) In addition to the upfront tax deduction, there is tax-deferral on any growth in the RRSP. No taxes are paid until money is withdrawn from the account (usually at retirement).

5) Additional RRSP contribution room is created each year equal to 18% of your “earned income” which most typically includes salary, however, can include other types of income. While each person’s additional contribution room is unique to their situation, there is a cap every year. In 2020, this maximum was $27,230. (In 2021, it is $27,830.)

6) Unused contribution room can be carried forward indefinitely. I have several clients who are now in higher tax brackets using up unused contribution room from past years.

7) You can find your RRSP contribution limit for 2020 on your 2019 Notice of Assessment.

8) There are many options for where to open an RRSP account and how to invest it. RRSPs can include mutual funds, exchange traded funds, stocks, bonds or high interest products. If you find these options are not available to you at your current service provider, it is only because they don’t offer these products, not because there are limitations with the RRSP account.

9) Whenever making a lump-sum contribution to your RRSP, consider any automatic monthly contributions you have set up or that may be part of a workplace matching program as you do not want to over-contribute.

Deciding to contribute to an RRSP is a function of your tax and income situation, available cash to contribute and future plans and goals.

The majority of clients set up a strategy at the beginning of the year to have auto-deposits into their RRSP account. We consider workplace savings plans when we set this strategy. For others, it can make sense to maintain flexibility and wait closer to tax time to determine whether they wish to make an RRSP contribution for that year. Either way, we focus on saving throughout the year to ensure they have this flexibility when they need it.

01/10/2021

Valuable James Clear message as we start a new year:

Work to solve problems early.

Avoiding something because we are too busy, or it is uncomfortable, can have a negative compound effect over time.

I often hear from clients they wish they had started this financial work earlier when they see the impact it has.

There are many different money avoidances or, what I prefer to call missed opportunities, that need to be addressed. They can include such things as…
- dealing with debt issues
- being intentional and consistent with a regular savings plan
- understanding investments or perhaps, starting investing
- asking the right questions of a financial advisor
- maximizing tax-sheltered investment accounts
- taking advantage of employer matching programs or understanding company pension plans

All have significant immediate and long-term consequences on financial security.

These opportunities are not taken care of by only slashing a spending budget. The value in addressing them needs to become apparent and the specific steps to take must be made clear. Then we can be ready to take action.