Loney Financial

31/03/2023

Greetings!
Dan recently connected with Brent Smith, Chief Investment Officer of Kinsted Wealth - our Private Wealth investment partners - to discuss Brent's perspective on the markets and the advantages of private equity investing. Click the link to watch the webinar.

13/02/2023

2022 RRSP Contribution Deadline Reminder
Maximizing the value of your registered plans by making annual contributions is an important wealth planning strategy. This year’s deadline to contribute to your Registered Retirement Savings Plan (RRSP) is fast approaching. The last day to contribute for the 2022 tax year is March 1, 2023. Please check your CRA Notice of Assessment for your specific contribution allowance.

RRSP Maximization Strategy
One reason to contribute to your RRSPs is because of the tax deduction or refund you will receive. There are several ways you can contribute to your RRSPs, including a lump sum or scheduled contributions. For many, the best way to invest is to set up automatic monthly contributions which can help manage market fluctuations. We also believe that one of the greatest influencers of financial success is creating great habits such as saving regularly.

How to Make an RRSP Contribution
Managed Contribution - If we have a copy of a “voided” cheque or banking confirmation on file, you can simply call or email Alysha at 604-534-6003 /[email protected], to authorize a transfer of funds from your bank account directly to your RRSP.

Monthly Contribution - You can start the monthly contributions right away, with a phone call to Alysha and a copy of a “voided” cheque or banking confirmation. If established before March 1, you will get to use one payment for the 2021 tax year, and set yourself up for success for the 2022 tax year.

Cheque - Cheques are payable to the custodian that holds your account, (e.g., Manulife Financial, Empire Life, Equitable Life, Credential Securities, NBIN) and should be sent to Loney Financial for a deposit prior to the deadline. As mail has been taking longer to reach the destination, we suggest you mail your cheque by Friday, February 18, or drop it off in person at our new office, located at 8661 201 St, 2nd Floor, Langley, BC V2Y 0G9.

Consider an RRSP Loan
An RRSP Loan allows you to make a lump-sum payment now and utilize the tax savings. You can defer the first payment for up to 120 days and pay it off at any time without penalty. We can offer 12 – 24 months' payment terms. Please call Alysha directly and she can run quotes on what the monthly payments would be using current lending rates, then with a few questions, she can complete the application and have you sign the paperwork via DocuSign.

Tax Slips
A friendly reminder to watch the mail for your 2022 tax slips which will be sent out by the financial institutions this month.

As always, we're Here To Help!

Dan, Denise, Alysha, Sean, Carling, Bradford
Your Loney Financial Team

10/11/2022

The question of reducing debt or contributing to savings will continue to be debated for as long as people plan to retire in Canada.

19/04/2022

In a recent discussion with NHL legend Ryan Walter, and PGA Professional Bradford Walterhosue, Dan reflected on his induction into the Wealth Professional Hall of Fame and his longevity in the financial business.

04/03/2022

Last week Dan sat down with the Chief Investment Strategist from Manulife Investment Management, Kevin Headland. They discussed what happened in the markets in 2021, what we might expect from the markets in 2022 and the trajectory of the Canadian dollar.

Kevin Headland is the Co-Chief Investment Strategist with Manulife Investment Management.  In this video, Dan and Kevin discuss what happened in the markets in 2021, what we might expect from the markets in 2022, and Kevin's take on the trajectory of the Canadian Dollar.  

07/02/2022

Maximizing the value of your registered plans by making annual contributions is an important wealth planning strategy. This year’s deadline to contribute to your Registered Retirement Savings Plan (RRSP) is fast approaching. The last day to contribute for the 2021 tax year is March 1, 2022. Please check your CRA Notice of Assessment for your specific contribution allowance.

One reason to contribute to your RRSPs is because of the tax deduction or refund you will receive. There are several ways you can contribute to your RRSPs, including a lump sum or scheduled contributions. For many, the best way to invest is to set up automatic monthly contributions which can help manage market fluctuations. We also believe that one of the greatest influencers of financial success is creating great habits such as saving regularly.
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Consider an RRSP Loan - An RRSP Loan allows you to make a lump-sum payment now and utilize the tax savings. You can defer the first payment for up to 120 days and pay it off at any time without penalty. We can offer 12 – 24 months' payment terms and the application process is quick and easy.

Please call Alysha directly at 604-534-6003 to discuss your RRSP contributions or RRSP quotes/applications.

As always, we're here to help.

Your Loney Financial Team

31/01/2022

Finances often seem complex but they don't have to be. Stick to the fundamentals.

04/01/2022

Exciting News!

29/09/2021

The price of groceries is a topic that impacts every household.

From the article posted - “According to Statistics Canada, food prices are up 2.7 percent over the past 12 months. But, new research from Dalhousie University’s Agri-Food Analytics Lab published Wednesday shows the food inflation rate in Canada is closer to five percent.”

Do you know how much this impacts your monthly budget?

Many don’t.

We believe it’s necessary to know your monthly budget in enough detail that you could rather quickly come up with a number.

It’s about mastery in personal finances.

That’s us.

Statistics Canada says food prices are growing at 2.7 per cent, but new research from Dalhousie University’s Agri-Food Analytics Lab suggests that figure is closer to five per cent.

21/09/2021

Nailed it!

We all want to save more money -- but overall, people today are doing less and less of it. Behavioral scientist Wendy De La Rosa studies how everyday people ...

09/09/2021

Have you seen the new Loney Financial website?

We'd be so pleased if you'd take a look. And of course, if you need guidance or advice on your investments, insurance, estate planning, banking, or group benefits, we're here for you.

Wealth Strategies for families and business owners. Dan Loney is known for helping British Columbians grow their wealth, and protect their precious assets.

11/08/2021

Get your financing/credit organized before you need it.