Knowing difference between wills and trust to create a successful estate plan

The cost of living in Canada is growing and one of the most drastic examples of this is property values. People are not only paying outside their price range on their homes, but also their cottages. It may be time to evaluate if your recreational property is worth the investment.

These days, with lifestyle expenses soaring, everyone should be creating multiple revenue streams. One income just doesn’t cut it any more. On top of your job, two more ways you can bring in money are developing a side hustle and creating a passive income strategy. Let me tell you about our team of advisors. As a client, you need an advisor to trust when it comes to your future. Your financial plan. We’re all in different stages of life; starting a business or a family, saving for your new home, restructuring your debts, optimizing your cash flow, building your investments or transitioning into retirement. We have to start somewhere. Set up a virtual or in-person meeting with your advisor today.

As soon as you’re working, it’s a good time to launch some long-range money goals. At the beginning of your career, you might not have a lot of cash flow after the bills are paid ̶ but that will change. Your Carte Financial Advisor can show you how to prepare for your rising success.

Have you insured your greatest asset? You ̶ your financial income potential and your ability to leverage money to create wealth ̶ this is your greatest asset. You have wisely insured the other valuables in your life. Protect your own value with long-term disability (LTD) insurance. Doing this today will safeguard your future.

Make cash flow your personal monarch. It is essential for a prosperous future. Because a key part of any wealth strategy involves using your money to make more money. Cash flow management is central to financial planning. Think about how you lived last month. Calculate your personal cash flow by adding up your income. Then, subtract all your expenses. Did you spend more than you made? This is negative cash flow. It means you are going to waste money on hefty credit card interest or loan charges. You also don’t have extra funds available for investing in your future. This month, calculate your cash flow by tracking where your paycheque goes. Create a clear, detailed budget. Learn the difference between fixed expenses and variable expenses.

Do you know about Responsible Investing? Let me tell you about our team of advisors. As a client, you need an advisor to trust when it comes to your future. Your financial plan. We’re all in different stages of life; starting a business or a family, saving for your new home, restructuring your debts, optimizing your cash flow, building your investments or transitioning into retirement. We have to start somewhere.

Good Estate Planning Keeps Your Family Safe You want to fully protect your loved ones when you’re gone. That’s what estate planning does. Learn why you need a Will and how the probate process works. Also, how setting up a Trust can help when family affairs are complicated.

Filing your income taxes can be confusing. Avoid these 10 mistakes and keep yourself on track for success.

Why has the Registered Retirement Savings Plan (RRSP) remained so popular over the years? Because it continues to be a tax-efficient way to save money. No matter what point you are at, professionally, the flexibility of this plan offers benefits. Your Carte Financial Group Advisor can help you leverage the power of an RRSP throughout your career. Here are six ways it can help reduce taxes and grow that important nest egg.