K4 Financial

05/05/2025

I had an idea last night and maybe it’s something that the Canadian government could consider to help parents and grandparents help their children and grandchildren as more young people are struggling to be able to afford a home and save for a down payment.

If you know anything about me, you would know that I believe that parents should be encouraged to help their children out, as times are very difficult for the younger generations, while many people in the older generations have more money than they will ever need, which is not being used to stimulate the economy.

One main issue is that a lot of the money is within the RRSP and RRIF accounts that the retirees do not want to withdraw in large chunks, because it will trigger a large tax bill.

What if the government allowed parents and grandparents to withdraw a specific amount of money, tax free, from their retirement accounts in order to use it for a down payment for their children or grandchildren?

I always like to warn parents who are wanting to help their children though. If you’re going to gift large sums of money to your family, please ensure that this will not negatively impact your own retirement plan. Sometimes you just don’t have enough to be able to help without hurting your own future.

If you think this is a decent idea, please share. If not, that’s ok too, it was just a thought as I try to propose ideas that will make life easier for more of us.

Cheers,

12/22/2023

Now it’s time. Hope everyone has a wonderful break! You all deserve it.

11/11/2023

10/04/2023

My favourite place to work on a nice night. Hopefully, if times get easier for small businesses and individuals at all ages, I can make my outdoor work zone a little more user friendly.

08/17/2023

Another day on the sunny streets of with the K4 Financial street team.

06/29/2023

This sucks. I’m obviously a culprit in this, but how can’t National Geographic make it, even if it’s all digital?

06/07/2023

Not exactly the news any of us wanted to hear today. If you are worried about how this will affect you, let us know and we’ll see if we can help you plan accordingly. [email protected]

05/19/2023

Sometimes my job is super stressful and gives me major anxiety, but when I do get to make a real difference by helping my clients, it makes all of the hard days worth it.

05/03/2023

Team photo. Thanks to for the shoot.

03/22/2023

Every year, January-March is the busiest time in our business accompanied with our glorious winter weather in YEG. Since Covid, winters have been even more stressful.
I’ve been saying for years that I would take some time for myself near the end of the stretch and get some mountain or beach therapy, but this is the first time I actually did it.
Honestly, I would have chosen a beach, but I was still too busy to clock out the way I would if I was at a resort.
This is the next best thing and I’m so glad I did it. I miss my little man a lot, but I am hopeful that I’ll feel relaxed, recharged and caught up by the time I come home.

I’m so lucky to have this beautiful little town to come and visit and I would recommend that anyone take some time to recharge and reflect in a place they love if you possibly can.

Life is stressful and difficult, so sometimes I think you need to put yourself first so you can get back to being better at giving your time and energy to the things life requires of us on a daily basis.

😊

03/15/2023

I’ve been talking about this for 3-years, but if you haven’t, I would recommend that you batten down the hatches.

It does not look good out there.