Martin Labrie, Certified Financial Planner

23/02/2023

COST OF LIVING CRISIS?

Cost of living (Inflation) was likely a regular topic of discussion in 2022 for you and your family, and likely to continue through 2023. I know my grocery bill seems to cost more every time we need to restock our fridge and pantry.

As a financial planner, I CAN’T control the cost of living. What I DO for my clients is recommend to implement strategies to help alleviate the stress of these situations as part of my holistic approach in my process.

According to CBC and the Canada Food Price report - in Dec 2021, it was predicted that 2022 was going to have significant increases. Fast-forward today... lo and behold.... As of August 2022, 1 in 5 Canadians expect to obtain food/meals from a community organization as costs continue to rise.

If you are interested in seeing if I can be a resource and possibly add value to your situation, do not hesitate to reach out.

(Source: https://www.cbc.ca/news/business/food-price-report-charlebois-1.6277590)

17/02/2023

https://www.bnnbloomberg.ca/spousal-rrsps-can-offer-tax-benefits-but-experts-say-it-might-not-work-for-everyone-1.1884824
Spousal RRSP is a simple easy tax strategy, to know if this is something you should be doing to help grow your wealth, feel free to reach out.

Take a look at the article / watch the video

Canadian couples looking to save money in retirement may turn to spousal RRSP accounts, though financial experts caution it might not work for everyone.

16/02/2023

Food for thought!

07/02/2023

The Rule of 72!

Money Management Mistakes
Not understanding how money works

This simple calculation gives you the approximate number of years it will take to double your investment

*This table serves as a demonstration of how the Rule of 72 works and is only an approximation of accumulation. It is not intended to represent any specific investment. The chart uses constant rates of return, unlike actual investments, which will fluctuate in value. It does not include fees or taxes which would lower performance.

25/01/2023

https://www.bnnbloomberg.ca/bank-of-canada-hikes-key-interest-rate-by-quarter-point-says-it-plans-to-hold-1.1874683

Another rate hike by the BoC, its key interest rate now stands at 4.5%, the highest it’s been since 2007...

Hopefully inflation will ease.

The Bank of Canada is raising its key interest rate by a quarter of a percentage point and says it expects this to be the last rate hike of the cycle.

20/01/2023

19/01/2023

Here is a simple recommendation to think about.

Pre-authorized payments towards your savings.

FYI, a 401K is the RRSP version of the U.S.A.

Also, a TFSA could be a better option, that will depend on your situation.

16/01/2023

This quote forms a foundational pillar of Buffett’s long-term investment ethos. What he is saying here is that - in life as with investing and planning - you have to think about the grand trajectory of things.

Overall, there is no better time to start thinking about that path than today. A tree takes time to grow, and so will most smart investments.

Start early, be patient, and let your money grow.