Is your Wallet Locked and Loaded?

Geoff Cook - CFP, CHAIP

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Have you ever heard the old saying “Ride or Die”? If you were a Brooklyn Police Officer in the 1970s, it meant that when you carried your gun, you were ready to use it (ride it out, or die trying); be willing to do anything if it involves personal risk. This same saying is reflective of our individual financial habits.

When we have our financial resources in our wallet we...

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What's going to happen in 2015

Geoff Cook - CFP, CHAIP

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Financial Planning Barrie

In continuing with our work from last year - we will be consolidating 2015 market and economy outlooks from some of the worlds top investors and economists.This is a working list that will be updated as new outlooks come available so be sure to check...

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How to Save the Family Cottage

Geoff Cook - CFP, CHAIP

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Save the Family Cottage - Financial Planning in Barrie

We have all heard the old saying, “Two things are guaranteed in life: 1. Death 2. Taxes.”We are at an interesting time right now where prices of assets over the last 50+ years have seen a tremendous growth spurt. I always find it interesting talk...

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4 Way's to Spend Critical Illness Proceeds

Geoff Cook - CFP, CHAIP

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Critical Illness Insurance Barrie

In the unfortunate event that you or a loved one is suffering from a critical illness, having critical illness insurance provides several benefits to you and to your family. Critical illness insurance is defined as insurance that pays a tax free, lum...

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5 Must Understand Financial Concepts

Geoff Cook - CFP, CHAIP

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Financial Planning Barrie

1) Money needs a name: Money is fluid and always moving, that’s why we call it “currency.” If you don’t put a name to it or label what it is meant to be used for, it will find somewhere to go. We need to remember this and set up automatic pla...

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How Mutual Fund Fee's Work

Geoff Cook - CFP, CHAIP

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Mutual Fund Fees

Mutual Funds have become a real point of contention in the media in the last few years. I recently watched a “CBC Market Place” report where a woman went to several financial institutions and asked “how do the fees with mutual funds work?”.I...

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How to Save Money on Life Insurance

Geoff Cook - CFP, CHAIP

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How to save money on Life Insurance

Lets face it, no one likes buying or paying for insurance. In fact I often hear people say they feel insurance poor. From time to time I will meet people who want or already have life insurance and they say "Hey, how can I save money on life insuranc...

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Taxes 101 - What is a Tax Credit?

Geoff Cook - CFP, CHAIP

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Last time we talked about tax deductions. The next important piece to understand is tax credits. There is a couple more moving parts to a tax credit, but it is still simple to understand.What is a Tax Credit?A tax credit is an amount of money that wi...

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Taxes 101 - What is a Tax Deduction?

Geoff Cook - CFP, CHAIP

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What is a tax deduction?

When financial planning - taxes become a very important piece of the puzzle in many different times in our lives. It is often best to start with the basics before we can go in to strategizing. This way, if everyone understands how things work, it mak...

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What is a TFSA?

Geoff Cook - CFP, CHAIP

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TFSA

TFSA stands for a Tax Free Savings Account.The account basically allows you to save and invest without having to pay any taxes on the returns you generate from those investments. The government created the TFSA as an incentive to help Canadians save....

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Debt - The New Normal

Geoff Cook - CFP, CHAIP

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It is no surprise that we are having debt issues in Canada. Most people are feeling the pressure. I have included below a piece that illustrates this reality.Much like anything in life that we are trying to fix, the first step is awareness. Be aware...

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Don't let a good Recession go to waste

Geoff Cook - CFP, CHAIP

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Although we may not be in the perfect definition of a recession, we can rightfully say we are in recessionary times. Unemployment is still high, interest rates are still low and economic growth has stalled.When it comes to financial decisions, most p...

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Why the average person is broke

Geoff Cook - CFP, CHAIP

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Of 100 men at age 6554 will be BROKE (live too long)36 will be DEAD (live too short)5 will still be WORKING (no choice)1 will be RICH (money at work)Source: Statistics Canada Why the Average Family/Person is Broke !The SituationStart working: Age 30...

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TFSA - Not your average bank account

Geoff Cook - CFP, CHAIP

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One of the most common misconceptions is that a Tax Free Savings Account is just a checking account that you get at the bank. Although some Banks offer a superior savings rate for a TFSA, you could be missing out on taking advantage of a great wealth...

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Dont Forget These Two Simple Steps When Estate Planning

The pure purpose of Estate Planning is to make an efficient transfer of wealth. Period.Efficiency of Estate Planning is measured in two parts:1) Tax: It is important to plan your estate in a way that will transfer wealth in a tax-efficient manner—s...

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