“Welcome to the PlanEasy blog! We make personal finance easy.

Thanks for visiting.”

– Owen

Great Low Risk Investments And Where They Fit Into Your Plan

Great Low Risk Investments And Where They Fit Into Your Plan

Low risk investments are an important part of every financial plan. There are certain reasons we want to use low risk investments in a plan and there are different types of low risk investments that we may want to consider.

Often we can become too focused on increasing investment return to appreciate the usefulness of a low risk investment. When used appropriately, a low risk investment provides an important source of funds in an emergency, or provides less volatility in our investment portfolio, or provides a psychological advantage that may help us avoid making a behavioural mistake during a downturn.

There are a few places that low risk investments will show up in a typical financial plan. If you haven’t considered these uses for low risk investments then it might be time to get a second opinion on your financial plan…

1. Emergency fund
2. Saving for infrequent expenses
3. Saving for a down payment (Or other short term financial goal)
4. Fixed income portion of an investment portfolio

These are some of the typical uses for low risk investments but what are some good low risk investments to use and which of these uses would they be appropriate for?

read more
Do I Have To File Taxes? No, But You Should! Here’s Why…

Do I Have To File Taxes? No, But You Should! Here’s Why…

Do you have to file taxes each year? Technically no, if you meet certain criteria, but you probably should anyway.

Filing taxes doesn’t have to be difficult. There are many great tools and resources that can help make filing taxes easy. But the longer you put it off the more difficult it will become. So even if you don’t need to file it’s a good idea to do it every year.

Technically the government doesn’t force you to file taxes unless you meet certain criteria. If the government owes you money in the form of a tax refund then they’re happy to hold onto that money for you indefinitely. As you’ll see below, there are certain criteria that the government looks at when determining if you need to file a tax return or not.

But even though you may not NEED to file a tax return you probably should. There are many good reasons to file your tax return each year.

Not filing a tax return may mean that you’re leaving money on the table, not just in the form of a tax refund but also the potential government benefits that you may be eligible for.

read more
New Parents Guide To Setting Up An RESP

New Parents Guide To Setting Up An RESP

Congratulations! You’re starting a family or have already started a family and through all the craziness of raising children you’re also thinking about setting up an RESP. That’s fantastic!

As a new parent you now get access to a special tax advantaged account called the RESP and it comes with some special features that all parents should take advantage of.

As the name implies, the Registered Education Savings Plan (RESP) is meant to help parents (or relatives) save for a child’s post-secondary education.

There are a few benefits to the RESP that make it attractive to parents. One is that investments inside the RESP are able to grow tax free. The second is that contributions receive a matching grant of up to 20% or $500 per year, whichever is lower. Plus there are even extra grants and learning bonds available for lower income families.

But with all the attractive features of an RESP there are also some restrictions. These restrictions can sometimes be worrisome for parents and cause them to avoid setting up an RESP for their children. In this post we’ll explain what an RESP is, what you’ll need to set one up, some of the terminology you’ll encounter, and finally how to withdraw from your RESP in the future.

read more

Owen Winkelmolen

Fee-for-service financial planner and founder of PlanEasy.ca

“Welcome to the PlanEasy blog! We make personal finance easy.

Thanks for visiting.”

– Owen

New blog posts weekly!

Tax planning, benefit optimization, budgeting, family planning, retirement planning and more...

Great Low Risk Investments And Where They Fit Into Your Plan

Great Low Risk Investments And Where They Fit Into Your Plan

Low risk investments are an important part of every financial plan. There are certain reasons we want to use low risk investments in a plan and there are different types of low risk investments that we may want to consider.

Often we can become too focused on increasing investment return to appreciate the usefulness of a low risk investment. When used appropriately, a low risk investment provides an important source of funds in an emergency, or provides less volatility in our investment portfolio, or provides a psychological advantage that may help us avoid making a behavioural mistake during a downturn.

There are a few places that low risk investments will show up in a typical financial plan. If you haven’t considered these uses for low risk investments then it might be time to get a second opinion on your financial plan…

1. Emergency fund
2. Saving for infrequent expenses
3. Saving for a down payment (Or other short term financial goal)
4. Fixed income portion of an investment portfolio

These are some of the typical uses for low risk investments but what are some good low risk investments to use and which of these uses would they be appropriate for?

read more
Do I Have To File Taxes? No, But You Should! Here’s Why…

Do I Have To File Taxes? No, But You Should! Here’s Why…

Do you have to file taxes each year? Technically no, if you meet certain criteria, but you probably should anyway.

Filing taxes doesn’t have to be difficult. There are many great tools and resources that can help make filing taxes easy. But the longer you put it off the more difficult it will become. So even if you don’t need to file it’s a good idea to do it every year.

Technically the government doesn’t force you to file taxes unless you meet certain criteria. If the government owes you money in the form of a tax refund then they’re happy to hold onto that money for you indefinitely. As you’ll see below, there are certain criteria that the government looks at when determining if you need to file a tax return or not.

But even though you may not NEED to file a tax return you probably should. There are many good reasons to file your tax return each year.

Not filing a tax return may mean that you’re leaving money on the table, not just in the form of a tax refund but also the potential government benefits that you may be eligible for.

read more
New Parents Guide To Setting Up An RESP

New Parents Guide To Setting Up An RESP

Congratulations! You’re starting a family or have already started a family and through all the craziness of raising children you’re also thinking about setting up an RESP. That’s fantastic!

As a new parent you now get access to a special tax advantaged account called the RESP and it comes with some special features that all parents should take advantage of.

As the name implies, the Registered Education Savings Plan (RESP) is meant to help parents (or relatives) save for a child’s post-secondary education.

There are a few benefits to the RESP that make it attractive to parents. One is that investments inside the RESP are able to grow tax free. The second is that contributions receive a matching grant of up to 20% or $500 per year, whichever is lower. Plus there are even extra grants and learning bonds available for lower income families.

But with all the attractive features of an RESP there are also some restrictions. These restrictions can sometimes be worrisome for parents and cause them to avoid setting up an RESP for their children. In this post we’ll explain what an RESP is, what you’ll need to set one up, some of the terminology you’ll encounter, and finally how to withdraw from your RESP in the future.

read more

New blog posts weekly!

Tax planning, benefit optimization, budgeting, family planning, retirement planning and more...

New blog posts weekly!

Tax planning, benefit optimization, budgeting, family planning, retirement planning and more...

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