Andrew Tricomi, BA Econ, CFP® @AndrewT_CFP
I enjoy planning an impactful financial future for families, professionals & business owners across Canada | Exec member for Stittsville Business Association tricomifinancial.com Ottawa, Ontario Joined November 2018-
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It just got more expensive for incorporated business owners and professionals to save for retirement. The combined Ontario corporate and (top) individual tax rate on capital gains is increasing from 28.97% to 38.62%. What does this mean for investing in your corporation?
Say you're a physician in BC and you use your corporate investment portfolio to fund your retirement. As part of your annual income, you need to sell part of your portfolio, and you trigger a $50k capital gain. It looks like this:
Think about spring cleaning in a financial way where you can reflect on your goals, review your plan and make sure you are on track. Ultimately, you are decluttering your life in a way that can hopefully reward you more financial freedom and flexibility.
Looking to maximize on your financial plan? Consider these options with some deadlines that you can take advantage of.
Consider this when deciding if you should be making an contribution to your RRSPs and deducting for the 2023 tax year.
CDAP - Canada digital adoption program.
Looking to sell your professional corp or business? Here are some key items to consider.
Christmas has definitely come early
Had a great week in TO learning and networking. Being at a DFA @dimensional workshop but also managed to finally meet @jasonpereira in person over drinks! I had the pleasure to hear what he had to say to help me grow my career in the right direction. I feel fortunate and lucky.
Had an amazing 5 days in Naples, Florida at Quadrus Dealer Day conference. Learning from like-minded financial planners and hearing about some changes going on in our industry has been a pleasure!
Apple’s 27% stock decline since early October has wiped $314+ billion from its market value. That means it's in a minute-by-minute race with Amazon for the title of 2nd biggest public company bloom.bg/2RTDw3w
Yep, Bitcoin was a bubble. And it popped. bloom.bg/2RW7Tqd (via @bopinion)
by consequence it’s going to be an important year for Canada
Whats stimulating the economy in the US right now is tax reform, which is going to be phased out in 2020, & interest rates are increasing, so this is going to have an impact on the economy as well. 2020 is going to be a very important year for the US and m.wealthprofessional.ca/market-talk/in…
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@KingsmanTower Omg no it absolutely is not, I literally just gave you a document from RBC to read that proved this wrong.
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This week I'm batting cleanup for @FP_Collective_ fpcollective.ca/leaders-of-tra…
I did it. I wrote 5,000 words on segregated funds. Took me two weeks but I actually did it. Will post in the coming week or so.
Wholesaler pitch-slapping me by email every week. Latest email ends with: "I haven't heard back, where do we go from here?" I dunno where do you usually go when you email someone 10 times and they ignore you?
Just reviewed our wills with my lawyer. We have included a spousal trust if one of us passes away. Why? Protection. Say I die and she inherits everything. We're young, so she might get into another relationship, perhaps with someone with kids from a previous marriage. Or…
Nobody knows anything
THE S&P 500 IS ALREADY ABOVE EVERY SINGLE WALL STREET PRICE TARGET FOR THIS YEAR LMAO $SPX
lol. The dividends themselves are self aware
Dividends contribute nothing to investment returns. All they accomplish is recharacterizing a portion of total return as a cash distribution.
If you pay your advisor a 1% fee and haven't heard from them in over a year, it's time to move on. There are way too many excellent advisors doing this job the right way for you to settle.
@onveston He's saying it's better to sell shares of a publicly traded company vs. The company paying dividends and having a disproportionate share price decline ex div.
I hear the 🔥 is working again on everyone’s favourite dumpster fire. I mean, congrats. 🤷♂️ @MicrosoftTeams
Conventional wisdom and popular personal financial advice suggest that asset allocations should shift toward bonds as investors near retirement. This advice stems from the idea that bonds are safer than stocks, and retirees should not take much risk. But is it good advice?
Met with someone today with an interested in financial planning. They own multiple businesses, and life is getting complex. One of the main reasons they're interested in planning is just to get all the information out of their head. Getting clarity is a huge catalyst.
A story in 3 parts:
@LichtmanSamuel @honest_math @benjaminwfelix When he meets with clients does he just play other peoples videos and say “sign here”?
@mrenaud04 Oh you're confusing investment advice with comprehensive financial planning. Common mistake.
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