Scott Kok, Senior Wealth Associate

11/28/2025

🔍 Fun Fact Friday - Tax Free Saving Accounts

Did you know your TFSA isn’t just for saving cash? You can invest in stocks, bonds, ETFs—even options—and all the growth is 100% tax-free. 📈🔥

Yet, 47% of Canadians still hold only cash in their TFSAs—missing out on the opportunity for much greater tax-free growth through investing. [fool.ca]

Most Canadians miss out by treating it like a regular savings account. But it’s actually a tax-free investment shelter—meaning your dividends, interest, and capital gains can grow without ever being taxed, and you can withdraw anytime. 💼💰

11/21/2025

🔍 Fun Fact Friday: Employer Matching Plans

Did you know that many Canadian employers offer RRSP matching—where they contribute to your retirement savings based on what you put in? That’s essentially free money for your future! 💸

But here’s the catch: you only get the match if you contribute. If your employer matches up to 4% of your salary and you only contribute 2%, you’re leaving money on the table. 😬

✅ Check with HR to see if you’re eligible.
✅ Contribute enough to get the full match.
✅ Watch your retirement savings grow—tax-deferred!

11/14/2025

🔍 Fun Fact

Did you know? If your child doesn’t end up pursuing post-secondary education, you can roll RESP investment earnings into your RRSP—tax-deferred—if you have contribution room. 💡

Most people worry about “wasting” RESP savings if plans change, but the government allows you to transfer up to $50,000 of RESP earnings into your RRSP to keep growing your money. 📈

Plus, RESP contributions aren’t tax-deductible, but they grow tax-free—and the government adds up to $7,200 in grants per child through the Canada Education Savings Grant (CESG). 🎁

RESPs can stay open for up to 36 years, giving families flexibility and time to plan. 🕒

11/07/2025

🔍 Fun Fact Friday

Did you know? The FHSA lets you save up to $40,000 tax-free for your first home—and unlike RRSP withdrawals under the Home Buyers’ Plan, you don’t have to pay it back! 🙌

It combines the best of both worlds: tax-deductible contributions like an RRSP, and tax-free withdrawals like a TFSA. 📊

If you’re planning to buy your first home, this account could help you get there faster—especially in today’s housing market. 🏡

11/05/2025

📣✨ Now Accepting New Clients!

Are you ready to take control of your financial future? We're now welcoming new clients for our personalized financial planning and investment management services. 💼📊

Whether you're just starting out, planning for retirement, or looking to optimize your portfolio—we’re here to help you build a strategy that fits your goals, timeline, and risk comfort. 🧭💰

✅ Retirement Planning
✅ Tax-Efficient Investing
✅ Portfolio Reviews
✅ Insurance & Estate Guidance
✅ First-Time Investor Support

Let’s make your money work smarter. Reach out today to schedule a free consultation!

📍 Serving clients in Winnipeg and across Canada
🌐 www.surconmahoneywm.com

Part of BMO Nesbitt Burns, Surcon Mahoney offers private wealth management services with a focus on retirement planning and dentistry practices.

10/31/2025

🔍 Fun Fact Friday

Did you know? You can delay claiming your RRSP tax deduction to a future year when your income is higher—potentially boosting your tax refund! 📈

Most people rush to claim the deduction right away, but if you expect to move into a higher tax bracket, waiting could mean hundreds more in tax savings. 💰

Plus, RRSPs aren’t just for retirement—they can help fund your first home or education through special government programs. 🎓🏠

09/24/2025

🗂️ Do Your Loved Ones Know Where Everything Is?

In a time of grief, searching for financial documents and passwords is the last thing anyone wants to do.

That’s why I created a “Death Binder”—a simple way to keep all your key info in one place:
✅ Will
✅ Financial accounts & income sources
✅ Insurance & property details
✅ Password access
✅ Contact info for your advisor, lawyer & accountant

💡 I update mine every year—it brings peace of mind knowing my family won’t be left guessing.

📥 PM me if you'd like a copy

09/22/2025

🏙️ Where You Retire in Canada Could Save You Hundreds of Thousands 💸

Retirement planning isn’t just about when—it’s about where.

Here’s a quick look at how much you’ll need in personal savings (after CPP & OAS) depending on the city:

🌊 Vancouver, BC – $473,000
🏙️ Toronto, ON – $431,000
🌆 Calgary, AB – $263,000
🎭 Montreal, QC – $200,000
🌾 Winnipeg, MB – $158,000
🏡 Brandon, MB – Just $95,000!

That’s a huge difference—and with inflation creeping up year after year, these numbers are only going higher.

📍 Location matters.
📖 Read the full blog post here. https://nesbittburns.bmo.com/SurconMahoneyWealthManagement/blog/741001-how-much-you-need-to-retire-by-city-in-canada

09/08/2025

💡 Thinking about saving or investing?
Learn how the Tax-Free Savings Account (TFSA) can help you grow your money tax-free—whether you're planning a vacation, building an emergency fund, or investing for retirement.

This beginner-friendly guide breaks down everything you need to know in plain language, including how TFSAs work, how much you can contribute, and how to avoid common mistakes.

📈 Start making your money work smarter for you.

👉 Read the full blog
https://nesbittburns.bmo.com/SurconMahoneyWealthManagement/blog/644870-a-beginners-guide-to-tfsas

08/20/2024

Attention anyone looking to buy their first home. (This could save you thousands.) See below 👇👇👇

First Home Savings Accounts (FHSA's)

Available in 2023, it allows you to contribute $8,000 per year once the account is open.

Lifetime maximum contribution limit of $40,000.

Contributions going into the FHSA are tax-deductible from your income just like an RRSP.

Withdrawals coming out of the FHSA are tax-free just like a TFSA providing you are using the funds to purchase your first qualifying home.

Example) If you're making $60k/year in Manitoba and make your $8,000 FHSA contributions each year, your tax savings would be approx. $12,240 ($2,448*5 years) not to mention any tax-free growth.

This is the closest thing to free money as you'll get.

Talk to your advisor.

08/16/2024

Common RESP mistake 👩‍🎓👩‍🏫

Withdrawals from Registered Education Savings Plans are not only limited to what was spent on tuition and textbooks. Although your bill might only be $3,000, you can elect to withdraw more than what was actually spent.

07/30/2024

Do you own a family vacation property with plans to pass down ownership and enjoyment to the next generation? These succession planning strategies and considerations, including discussion of the recent increase in the capital gains inclusion rate, will help ensure a smooth transition. http://spr.ly/6008iCVNC