Shewfelt Financial

10/13/2026

TFSA or RRSP — which should you use first?

Both can be valuable. They simply work differently.

An RRSP can reduce your taxable income when you claim a contribution deduction. Your investments grow tax-deferred, and withdrawals are generally taxable.

A TFSA doesn’t give you a tax deduction when you contribute, but investment growth and withdrawals are generally tax-free.

So, which comes first?

If you’re earning more today than you expect to earn in retirement, an RRSP may be a good place to start.

If you’re in a lower tax bracket or want flexibility to access your savings, a TFSA may be a better starting point.

An employer’s matching RRSP contributions can also affect the decision.

For many people, the right approach involves using both, with each serving a purpose in the overall plan.

Your income, pension, contribution room and retirement goals all matter.

The best choice is the one that fits your situtation and your plan. We can help you figure that out.

— Bill

10/11/2026

10/08/2026

What does financial planning actually mean?

When people come in to talk about their finances, the conversation often starts with investments.

“How are my investments doing?”

“Am I invested properly?”

“Am I taking too much risk?”

Those are important questions — but they’re only part of the picture.

Good financial planning is about making sure all the pieces of your financial life work together.

Are you saving enough? Should you take your pension or the commuted value? How should you draw income from your RRSP or RRIF? Are you taking advantage of your TFSA? Can you reduce the amount of tax you pay in retirement? Is your family properly protected? And what happens to everything you've built when you're gone?

A decision in one area can often affect several others.

That's why I believe financial planning should start with where you are today, where you want to go, and then building a plan to help get you there.

Investments are an important part of that plan.

But they aren't the whole plan.

— Bill Shewfelt, CFP, CLU, CEA
Certified Financial Planner

10/06/2026

When should I take CPP — 60, 65 or 70?

It’s one of the most common retirement questions I get, and unfortunately, there isn’t one answer that’s right for everyone.

Taking CPP early at 60 means receiving a smaller monthly payment, but you’ll start collecting it sooner. Waiting beyond 65 increases your monthly benefit, and waiting until 70 provides an even larger monthly payment.

If you asked my dad, he'd say "Take it as soon as you can! Wouldn't you hate to drop dead at age 65 and never have received a penny from the government."

So, how do you decide?

Your health and life expectancy, other sources of retirement income, tax situation, savings and investments, and whether you’re still working can all play a role.

Most importantly, I don’t think the CPP decision should be made on its own. It should be part of your overall retirement income plan.

Sometimes taking CPP early makes perfect sense. For someone else, delaying it can be a very valuable source of additional guaranteed, inflation-adjusted income later in retirement.

The question isn’t simply, “When can I take CPP?”

It’s “When does taking CPP make the most sense for me?”

That’s a much better question.

Bill

09/25/2026

Enjoy the 2026 International Plowing Match! https://www.plowingmatch.org/ipm2026/

09/08/2026

I'm sure I'm not the only one that thinks of this Staples gem on the day the kids go back to school.
Back to School time is also a good time to think about Registered Education Savings Plans (RESPs). A great way to save for the kid's education and get 20% grants on your deposits from the government. Give us a call or shoot us a message if you'd like to learn more about RESPs.

09/08/2026

👜✨ Handbags for Hospice Sponsor Spotlight — Shewfelt Financial ! ✨👜

We’re pleased to welcome Shewfelt Financial back as a Wristlet Sponsor for the 10th Annual Handbags for Hospice!

For generations, Shewfelt Financial has helped individuals, families, and businesses navigate their financial journeys with knowledgeable advice, personalized planning, and a genuine commitment to their clients’ goals. With deep roots in the Kincardine community, their team continues to help clients build confidence in their financial future and focus on what matters most.

We are incredibly grateful for Shewfelt Financial’s continued support of Huron Shores Hospice. Their generosity helps us continue providing compassionate care and support to residents and families in our community.

Thank you, Shewfelt Financial, for helping us celebrate 10 years of Handbags for Hospice and for being part of this decade-long journey of community generosity! 💜

09/01/2026

💙🎉 TINT THE TOWN TEAL! 🎉💙
Happy Big Brothers Big Sisters Month! Throughout September, we're celebrating the power of mentoring and inviting our community to help us Tint the Town Teal! Big Brothers Big Sisters of South Bruce North Huron

07/17/2026

Shewfelt Financial will be closed this afternoon so we can participate in the Community Living Kincardine District Golf Classic fundraiser. https://www.clkd.ca/golf-tournament. It will be a great day for a great cause. Have a good weekend!

Join us for the 18th Annual Charity Golf Classic July 17th, 2026!

06/20/2026

Where would you be now if you had been taught about money and finances when you were a kid?