Colin Barry, MBA, P.Eng, CFP
CERTIFIED FINANCIAL PLANNER® Professional
CERTIFIED FINANCIAL PLANNER® Professional
Upon the death of a spouse in Canada, specific rules govern the transfer of Registered Retirement Savings Plans (RRSPs) and Tax-Free Savings Accounts (TFSAs) to the surviving spouse. These “rollover” provisions are designed to allow for the tax-deferred or tax-free …
Read moreWhen planning your estate. It is important to consider how taxation will affect the future distribution of your estate. For individuals who are married, when the first spouse passes away, the assets can generally be rolled over tax-free to the …
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Generative AI has fundamentally changed cybercrime. It is no longer just about technical exploits but has shifted to hyper-personalized, scalable, and psychologically manipulative fraud. The scale of financial losses is unprecedented. The 2024 Internet Crime Report from the FBI documented …
Read moreUpdated for 2026 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 …
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Understanding transferring RRSPs to RRIFs RRSP Maturity Strategies: You are allowed to contribute to your RRSP up until December 31 of the year that you turn 71, at which point your RRSP must be closed. Instead, you can select any …
Read moreHow can mutual funds help manage financial risk? More significant gains are associated with both business success and variable risk in business and investment. Six risk factors and constructive ways to deal with them are examined below. Risk increases with …
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Stock market language refers to two predominant patterns: “bulls” and “bears.” These terms describe the prevailing market trend and can sometimes cause concern, but understanding their meaning is key to maintaining a long-term perspective. My goal is to help you …
Read moreUnderstanding beneficiary designations in Canada is a critical aspect of estate planning, often overriding provisions made in a will. This is because certain assets, by their very nature, allow for direct beneficiary designations that operate outside of the estate and …
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Life insurance needn’t be a boring topic. It’s the foundation of a sound financial plan. Moreover, protecting our family's financial future is of great interest.
Read moreThe "principle of decreasing responsibility" is a financial planning concept that states that an individual who has dependents such as a spouse and/or children has financial responsibilities that life insurance can help meet in the event of death.
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Most Canadian Life Insurance companies provide policyholders diagnosed with a terminal illness with some form of early access to a portion of the death benefit. However, the specific terminology, eligibility requirements, and benefit amounts vary considerably. Living benefit, Early Death …
Read moreThe Old Age Security (OAS) clawback, officially known as the OAS recovery tax, reduces the amount of OAS pension you receive if your income exceeds a certain threshold. To avoid or minimize the OAS (Old Age Security) clawback in 2025, …
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We invest in what people buy. When an equity investment fund or stock is purchased, you indirectly invest in businesses relating to what consumers buy.
Read moreLife insurance has been called the foundation of your net worth. If you have a spouse or children, the initial stages of your financial strategy should include adequate life insurance coverage.
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If you are an investor who remembers the mortgage debt crisis of 2008-9, you know that the stock market lost significant value. From an investment standpoint, the real downside occurred when some investors sold off their equity holdings due to …
Read moreRRSP Maturity Strategies: You are allowed to contribute to your RRSP up until December 31 of the year that you turn 71, at which point your RRSP must be closed. Instead, you can select any or a combination of: transferring …
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After the death of an individual, every estate must file a final (or 'terminal') tax return. All assets are deemed to be disposed of at time of passing, and this can trigger probate fees and other expenses.
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