A.C.Dyck Financial Services Inc
135 10th Ave S # 202 V1C 2N1 Cranbrook, BC, Canada

To claim a deduction on your 2020 return, you need to contribute by March 1, 2021 and the maximum amount you can contribute can be found at the very bottom of your RRSP deduction limit statement on your Notice of Assessment. It can also be looked up online using the CRA’s My Account. For 2021, the new RRSP dollar limit is $27,830 or 18 per cent of your 2020 earned income, whichever is lower, less any pension adjustment from your employer. (You have until March 1, 2022 to make this year’s contribution.) Don't wait!! Get your contribution in today!!!

Our office will be closed Monday February 15th to enjoy our families

DID YOU KNOW: You can’t lose your TFSA contribution room. If you’ve never opened a TFSA, you can contribute up to $75,500 today provided you’ve been over 18 years of age since 2009. ... Here’s a breakdown of the TFSA contribution limits in the past decade: $5,000 for each year from 2009 to 2012; $5,500 for each of 2013 and 2014; $10,000 for 2015; $5,500 for each of 2016, 2017 and 2018; and $6,000 for 2019, 2020 and 2021. Plus, you never lose contribution room, regardless of your age. (Unless you’re a non-resident of Canada for an entire year, during which time you won’t have contribution room). And speaking of age, you must be at least 18 (and have a valid social insurance number) to open a TFSA. You may not have money today. But many Canadians will reap a mid-life windfall from an inheritance, downsizing a home, severance or insurance payouts. Putting such proceeds into a TFSA (provided they don’t go over the contribution room) can help shield their future growth from income tax.

Discipline is choosing between what you want now, and what you want most Abraham Lincoln

Build your RRSP: Investing tips: Start contributing early in the year!!! If you’re like the typical Canadian, you probably wait until the RRSP season the first 60 days of the year to make your RRSP contribution. But coming up with the cash all at once can be difficult, especially for those who are still paying their... holiday bills. Instead, let's talk about setting up a pre-authorized chequing plan (PAC). This simple investment strategy lets you make RRSP contributions, by purchasing mutual funds for example, on a periodic basis, such as weekly, monthly or quarterly, in a predetermined amount. Amounts as small as $50 per month can be easily deducted from your personal bank account and invested in your RRSP. Dollar cost averaging with an extra PAC plan Making regular contributions to your RRSP helps you to put saving ahead of spending. Over time, your savings will grow. When you invest a set amount of money each month, you can take advantage of a technique called dollar cost averaging. With dollar cost averaging, you enter the market gradually, buying more shares when the price is low and fewer when the price is high. Maximize your contribution By contributing as much to your RRSP as you’re allowed, you could get a bigger tax refund and improve your chances of building a rewarding retirement. If you don’t contribute your maximum amount, you can carry forward unused RRSP contribution room, which allows you to contribute at a later date. An RRSP gives Canadians a significant opportunity to save!! Let's talk

4 different types of life insurance explained -

How much life insurance do you need?

To re-cap Dave Ramsey's 7 baby steps: Baby Step 1 $1,000 to start an Emergency Fund Baby Step 2 Pay off all debt using the Debt Snowball Baby Step 3 3 to 6 months of expenses in savings... Baby Step 4 Invest 15% of household income into RRSP Baby Step 5 College funding for children Baby Step 6 Pay off home early Baby Step 7 Build wealth and give! Before The Baby Steps: Make a decision to change before you even decide to head down the road of using or exploring the 7 Baby Steps, I think it’s important to point out just how key it is that you sit down, talk with your significant other (if you have one), and actually make a decision that you want to change. Once you’ve made a decision to change, you need to be able to begin the change immediately and make a decision as a family that you aren’t going to incur any more consumer debt. Credit cards and home equity lines of credit are off limits now. No more high interest auto loans! If you want a new TV or a new kitchen countertops, you’re going to have to save for them. No more store credit cards to buy clothing at ridiculous interest rates!

Dave Ramsey ~ Baby Step #7 - last and final step! Build wealth and give You know what people with no debt can do? Anything they want! The last step is the most fun. You can live and give like no one else! Keep building wealth and become insanely generous. Leave an inheritance for your kids and their kids. Now, that's what we call leaving a legacy!

Dave Ramsey ~ Baby Step #6 Pay Off Your Home Early!!! Now, bring it all home. Baby Step 6 is the big dog! Your mortgage is the only thing between you and complete freedom from debt. Can you imagine your life with no house payment? Any extra money you can put toward your mortgage could save you tens (or even hundreds) of thousands in interest.

Still doing business with protocols in place. Thanks Laird! We appreciate your business.

Dave Ramsey ~ Baby Step #5 Save for your children’s college fund! By this step, you've paid off all debts (except the house) and started saving for retirement. Next, it's time to save for your children’s college expenses (that is, if they make it through Algebra II and Chemistry unscathed) **My 2 cents - If you can’t pay for all of it on our own, your children can, and should help fund their college education. It’s about teaching them responsibility. Also, I find kids value things more when they actually have to pay for it.

Dave Ramsey ~ Baby Step #4 Invest 15% of your household income in retirement accounts $$$$ It's time to get serious about retirementno matter your age. Take 15% of your gross household income and start investing it into your retirement fund!!

Dave Ramsey ~ Baby Step #3 Save 3-6 months of expenses in a fully funded emergency fund. You’ve paid off your debt! Don’t slow down now. Take that money you were throwing at your debt and build a fully funded emergency fund that covers 36 months of your expenses.

Dave Ramsey ~ Baby Step #2 Pay off all debt (except for home) using the debt snowball method.

Who is Dave Ramsey? Dave Ramsey is a personal money management expert, radio talk show host and TV personality who over the years has helped thousands of people become debt free and change their financial lives. He gives no-nonsense advice to folks who have gotten in over their heads, and helps them to find their way out, in a responsible way. If you’re afraid of hard work, you may want to look elsewhere for your advice. In addition to his best selling books and radio and ...TV shows Ramsey also teaches Financial Peace University at huge live events, and the 7 Baby Steps are an offshoot of the FPU class - Financial Peace University Baby Step 1 $1,000 to start an Emergency Fund ~ After saving a small emergency fund one of the very first things you’ll be doing in the baby steps plan is working on paying off all of your debt.

We agree with Zig!

Hope everyone is keeping well and enjoying the beginning of summer bring on some sun and heat!!

Mouth watering recipes - BBQ season is here!!

We are still here and open for business! As the world slowly opens again and finds a "new normal" we want to make sure you all keeping safe and staying healthy!! Practical Tips to Stay Safe: Practice good hand hygiene and minimize how often you touch your face. Wash your hands with soap and water for at least 20 seconds, or use a hand sanitizer with at least 60 percent alcohol before touching your face or eating.... Avoid touching surfaces with fingertips. Your fingertips are the part of your hand most likely to transmit a virus, because they’re the part most often used to touch your nose or mouth. Instead of a finger, use an object such as a pen, or even your knuckle, to press an elevator button. Open doors with an elbow or the back of a hand. Grab a tissue. Carry a pack of single-use tissues, You can use these to open a door or grab a handrail. Clean your hands before touching your smartphone. Mobile phones may not be public surfaces, but studies have shown that they too can harbor bacteria, viruses, and other germs.

I don't want to invest my money now because.....

We are open!! We are open to meet with you over the phone or Zoom. Please don't hesitate to contact us!! Keep well. With the current uncertainty and adjustments to regular routines, it's natural for our stress levels to rise. Remember that stress is a reaction to a situation and not the situation itself. We've rounded up four simple stress management techniques that everyone can apply when they are feeling overwhelmed ~ Use nature to nurture:... Studies show that spending 20 to 30 minutes enjoying the outdoors can lower stress levels. Even a short moment outside interacting with nature can help you feel more relaxed. Tend to your garden, go for a walk among the trees, or bird-watch in your backyard just be sure to leave distractions behind so you can fully enjoy the fresh air. Take a breath: One of the simplest stress management techniques is to take some intentional, deep breaths. It can help clear your mind, relax your body, and improve your focus. Try this: close your eyes, slowly breathe in through your nose for four seconds, hold and count to four, exhale for four seconds, count to four, and repeat until you feel a sense of calm. Sweat it out: For most people, exercise is an accessible way to manage stress. The release of endorphins can bring stress levels down. Walking, jogging, climbing stairs, gardening, and even taking a dance break can go a long way in managing stress. An added bonus physical activity helps you sleep better which further reduces stress levels; win-win! Switch up your tasks: Worry and anxiety can increase when a task is too challenging, and our skill level is low. Switching to a task where you feel more skilled can lower the challenge level and give you a sense of relaxation and control. This then allows you to approach the more challenging task from a different angle. - Living well by GroupHEALTH