Joshua Bacchus, CPA, CFP®, CLU®
A CERTIFIED FINANCIAL PLANNER® Professional, Mortgage Agent Level 1
A CERTIFIED FINANCIAL PLANNER® Professional, Mortgage Agent Level 1
For many retirees, the transition from saving to spending brings a surprising challenge: excess income. Once you convert your RRSP to a Registered Retirement Income Fund (RRIF) by age 71, the Canada Revenue Agency (CRA) mandates a minimum annual withdrawal. …
Read moreNavigating the TFSA and RRSP landscapes can be tricky, especially with “re-contribution” traps. Here is the detailed breakdown of the rules, the historical limits, and why the TFSA is often the superior choice for large, one-time withdrawals. TFSA Contribution & …
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Updated for 2027 What are some differences between a Tax-Free Savings Account (TFSA) and a Registered Retirement Savings Plan (RRSP)? The tax benefits of the Tax-Free Savings Account (TFSA) The TFSA is a registered savings account that allows Canadian taxpayers …
Read moreIf you are a business owner, you may have an individual who is key to your success. There is insurance to protect you against financial loss if he or she is incapacitated, in three areas.
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The closing day is the day when you finally achieve your goal—you take legal possession and finally get to call your new house your own. You’ll feel great relief and satisfaction, but remember the home-buying process isn’t over yet. There …
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Mortgage brokers are valuable mediators in the Canadian mortgage market, offering distinct advantages for both new homebuyers and those undergoing mortgage renewal. Multiple Lender Access: Mortgage brokers work with numerous lenders, such as major banks, credit unions, mortgage finance companies, …
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Many people get caught up timing the market, when influenced by either of the two emotions, greed or fear. Here’s why this never works.
Read moreA mortgage payment generally consists of several components: the mortgage principal and interest, property taxes and mortgage life insurance.
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Establish appropriate forums. Family retreats and regular meetings can allow the family to discuss the issues that will promote the continuation of a profitable family-run company.
Read moreYou are permitted to contribute to your RRSP up until December 31 of the year in which you turn 71, at which point your RRSP must be closed. This deadline is firm — missing it means the entire balance is …
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Start-up firms and smaller companies are especially vulnerable to potentially devastating financial risk because they often lack big company sophistication and in-house risk-control expertise. We will help you gain control of your financial risk.
Read moreLife insurance provides a tax-free death benefit and is a necessary component of most financial plans. Let’s look at the Top Insights on using life insurance to protect our assets and build wealth. Types Of Life Insurance Term Insurance: Term …
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When you apply for a mortgage, there are several questions that a lender may ask.
Read moreTax Planning is Legal: Canadians can legally arrange finances to minimize income tax. Tax Issues to consider: RRIF Withdrawals: Increases your tax burden and may result in an Old Age Security (OAS) clawback. Provincial Tax Rate: Living in a high-tax-rate …
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