Jennifer Daniel
415C Fairview Drive N3R 7M3 Brantford, ON, Canada

I continue to see missed opportunities with TFSAs! Read my published article to get a quick overview of the biggest TFSA mistakes and TFSA strategies you can put to work right away. If you're not getting the most out of your TSFA, please don't hesitate to reach out. Always happy to chat. #tfsa #investinginthefuture #retirementfinancialplanning #retirementplan

Take the RRSP quiz and see how you score! Then click the link to my website to see the answers and explanations. Feel free to message me if you have any questions. https://jenniferdaniel.gpwealth.ca/rrsp-quiz

The RRSP deadline is March 1, 2021. That is the last day you can put money into an RRSP to reduce your 2020 taxable income. Why would you want to do that??... Well, your 2020 taxable income is what is used to figure out how much income tax you should have paid in 2020. If you paid too much income tax over the course of the year based on your taxable income, then you will get a TAX REFUND when you file your taxes. If you paid too little income tax, then you will OWE money! When you contribute to an RRSP it reduces your taxable income, so the amount of tax you owe will be reduced. Since you already paid income tax throughout the year based on higher earnings you are likely to get a tax refund! Be mindful though - RRSPs aren’t always the way to go. A TFSA might be better suited for you. If you’d like to learn more, drop me a line and we can figure out what is right for you!

People often say they will start saving for retirement (or their child’s education) once they: earn more at work, pay down their mortgage, or make some other life change ... Life goes by fast, and there will always be something that gets in the way of saving. Rather than waiting for that perfect time, start by saving small amounts sooner rather than later. The sooner you start to save, the sooner you can take advantage of the power of compounding! Learn more by clicking below! http://jenniferdaniel.gpwealth.ca/00002275.aspx

I've been asked this question several times and have written this column from my advisor point of view as well as my own personal experience as a business owner. If you have been considering buying or starting a business, I would be happy to chat and provide an objective point of view! #entrepreneur #businessowner #buyingabusiness #business #smallbusiness

If one of your New Year's Resolutions is to improve your financial situation, make sure you are harnessing the Power of Compound Growth. The ability to compound over time is so valuable that billionaire Warren Buffett, regarded as one of the most successful investors of all time, regularly points to compound growth as a key pillar of his success. If you don't have a financial plan in place, or would like a second opinion on the one you have, I would be open to meeting with you. Let 2021 be the year I help you achieve your financial goals! #compounding #compoundinterest #financialgoals #financialplanning #financialadvisors #personalfinance #retirement #investing #wealthmanagement #wealth

Intergenerational wealth transfer is taking place as estates of elderly parents and grandparents pass to adult children. In this week's Ask an Advisor, I provide perspective on how to make the most of an inheritance. It's not just a matter of investing the inheritance - your goals, risk tolerance and taxation should all be factored into the plan. https://www.linkedin.com//receiving-inheritance-jennifer/

My article in this week’s The Burford Advance - strategies for reducing taxes, bypassing probate and creditor protection for your estate. Read on to learn how gifting, life insurance, segregated funds, naming beneficiaries and joint ownership can help with estate planning. #lifeinsurance #estateplanning #financialplanning #insurance #wealthmanagement

Financial planning is about building your assets, and estate planning is about preserving them. Everyone can benefit from having an estate plan - over time, your home, your RRSP savings and other investments can grow in value to represent a substantial estate. Here's a link to GP Wealth's Guide to Estate Planning to get you started:... https://secure.gpwealth.ca//GP_Wealth_A_Guide_to_Estate_Pl And you can always reach out to me directly for a question or second opinion. Email: [email protected] #estateplanning #investmentplanning # #financialplanning #investments #planning

My article in this week’s The Burford Advance - Should you buy Mortgage Insurance? There are benefits to having mortgage insurance, however there are other options out there that are often better than what the bank offers you! Contact me if you’d like to learn more. ... https://www.linkedin.com//should-you-buy-mortgage-insuranc

In The Burford Advance this week - my article on Why you need an RRSP Meltdown Strategy. And why do you need one? An RRSP meltdown strategy helps you plan the draw down of your RRSP assets in a tax-efficient manner. Taxes can have a MAJOR impact on your RRSP withdrawals. Read my article in the Burford Advance, or via the link here to learn more. Or better yet, reach out to me directly and we can talk about your specific situation!... https://lnkd.in/gr3PNu8 #rrsp #investmentplanning #retirementplanning #financialplanning #retirement

Back online with a video sharing financial tips! Listen for the one key stat that everyone should know to get ahead in their personal finances - 1:10 - 2:00 in the video! Also discussing goal-based financial advice, lump sum versus dollar cost averaging and the need to have regular discussions with your advisor about estate planning - regardless of your age!

I received this pension question and thought it was a good one to share as many are faced with this important choice! Read my response in the attached article and learn about key considerations when choosing a monthly pension or the commuted value. #financialadvisor

It's not what you earn, it's what you keep - after tax - that matters! Understanding how employment income, interest income, dividend income and capital gains are taxed is very important, along with the implications of holding investments within various registered (RRSPs, TFSAs, etc) or non-registered accounts. If you would like a second opinion on whether you've optimized your investments from a taxation standpoint, just reach out!... Also check out this guide that covers tax strategies for non-registered investments such as corporate class and t-series funds: http://jenniferdaniel.gpwealth.ca//A-Guide-To-Tax-Efficien

The most tax efficient way to pass an inheritance to a loved one is by gifting cash while you are alive. Canada does not have a gift tax like the US - you can gift any amount of money while you are alive with no tax implications. Curious about ways to leave money or assets to your loved ones upon your passing? The strategies in my attached article offer ways to reduce taxes, bypass probate and provide protection against creditors. It’s important to have an estate plan, and you are never too young create a plan! Contact me if you would like my help in this area or just to chat!

Steve Dixon invited me to share some tips and updates on insurance. Have a look to learn which type of insurance I believe is more important than life insurance, and why!

On Monday’s Sit Down with Steve, he will be talking to Jennifer Daniel a financial advisor at GP Wealth Management about the various types of insurance you migh...t need to protect yourself and your family and not just during these complex times but always. #sitdownwithsteve #interview #gpwealth #insurance #criticalillness #lifeinsurance #financialadvisor See more

This week's Ask an Advisor column in the The Burford Advance! A great question about the best way to save for a child's education. Read the article to find out the 3 key considerations that everyone should consider! https://www.linkedin.com//best-way-save-childrens-educat/

Whether you are looking to start a business or are already in operation, at some point the question will cross your mind should I incorporate or remain a sole proprietor? There are advantages and disadvantages to each business structure and incorporating is not decision that should be made lightly. Here are some considerations including cost, taxation, ability to retain earnings and how the business structure could affect the future sale of your business. Link to my pub...lished article for details! #smallbusinessowners #businesshelp #businessowners #smallbusinesstips

New mortgage stress test rules have been announced! The Department of Finance has changed the qualification criteria used in the mortgage stress test, effective April 6. This comes after criticism that the original policy was too tight and unfairly kept younger, first-time buyers out the market. Under the new rules, the benchmark rate used to set the stress test threshold has changed from the five-year rate set by the Bank of Canada to the weekly five-year median insured mor...tgage rate used in mortgage insurance applications, plus 2%. This change is notable as it materially reduces the threshold borrowers must reach to qualify for home financing, as the rates offered by lenders for insured mortgages are typically much lower than the posted rates at the big banks. Currently, the change is only for insured mortgage borrowers those who pay less than 20% down on their home purchase but the same change will be brought in for uninsured mortgages too, according to the Office of the Superintendent of Financial Institutions.

My column in the Burford Advance this week - Dying without a Will in Ontario. If you are living common law and you or your partner don't have a legal Will please be aware: In Ontario, when you die without a will and leave your common law partner behind, they are not entitled to ANY part of your estate. If you are living common law and have a child together, your child will be left 100% of your estate, and your common law spouse nothing. If you have no children, your estat...e will be left to a living family member, such as your parent, not your common law spouse. As a financial advisor I cannot prepare a will for you - you will need to see a lawyer. A legal will through a lawyer costs around $500, which is, in my opinion, a worthwhile investment. Read my full article here to learn more: https://www.linkedin.com//dying-without-ontario-jennifer-/

My 'Ask an Advisor' column in this week's Burford Advance. This one is a timely question that you might be wondering about as well! Q: I had been planning on retiring in the next few years. My mutual fund portfolio has taken a huge hit in the past month with the Coronavirus fall out, and I’m not sure if I will be able to retire. Is there anything I should be doing right now? I feel helpless just sitting here and losing money. Read my answer in the paper The Burford Advance, ...or find it in my published articles on Linked In. https://www.linkedin.com//mutual-fund-portfolio-decline-/

Today, the government announced additional supports for small business, including: > Expanding the Canada Emergency Business Account (CEBA) to businesses that ...paid between $20,000 and $1.5 million in total payroll in 2019. This new range will replace the previous one of between $50,000 and $1 million, and will help address the challenges faced by small businesses to cover non-deferrable operating costs. > Its intent to introduce the Canada Emergency Commercial Rent Assistance (CECRA) for small businesses. The program will seek to provide loans, including forgivable loans, to commercial property owners who in turn will lower or forgo the rent of small businesses for the months of April (retroactive), May, and June. Implementation of the program will require a partnership between the federal government and provincial and territorial governments, which are responsible for property owner-tenant relationships. https://pm.gc.ca//prime-minister-announces-additional-supp

51% of Canadian adults do not have a Will. Here are some of the key implications of dying "intestate" in Ontario. First, if you have minor children who will no longer have a living parent when you pass away, the guardianship of your children will be in question. Prospective guardians will need to apply to the court for custody. Second, your assets may not be distributed to your beneficiaries as you wish. Ontario law states that for those who die intestate, the first $200,000 ...of their estate goes to their spouse, and the remainder gets divided equally among their spouse and children. If you’re living common law and not legally married, dying without a will in Ontario is a big deal. In Ontario, when you die without a will and leave your common law partner behind, they are not entitled to ANY part of your estate. And finally, it is more time consuming and complicated to settle your estate than if you had a will in place. As a Financial Advisor I cannot prepare a will for you - you will need to see a lawyer. A legal will through a lawyer costs around $500, which is, in my opinion, a worthwhile investment. My role is to help you set financial goals and assess financial risk in your life, and guide key financial decisions as you work with a lawyer to have your will prepared.

Sincere thank you to the Burford Advance for providing a platform for me to share with the community. As everyone is trying to give in their own way, I enjoy writing and the opportunity to help in this way. We will get through this together.

As you approach retirement or if you are already retired, you should have an RRSP meltdown strategy. An RRSP meltdown strategy is a plan that guides when and how you will withdraw from your registered investments in the most tax-efficient way according to your income needs. My attached article discusses why you need an RRSP meltdown strategy and various strategies that might work for you. Within my practice, I work with my clients to develop a customized RRSP meltdown stra...tegy and retirement plan that meets their goals and allows them to maximize their after-tax income through tax planning. I highly recommend everyone in or nearing retirement develop an RRSP meltdown strategy you've worked hard for your money and deserve to keep as much as possible! #rrsp #investments #retirementplanning #wealth #tfsa #plan #invest #strategies

The central bank said the move comes as the COVID-19 outbreak is having seriously consequences for the Canadian economy and amid the abrupt decline in global oil prices.

Depending on how your retirement savings are invested, you may have seen a significant drop in the value of your investments. If this is the case, now is the time to HOLD and not to sell. When you sell an investment that’s in a loss position, you lock in that loss and there is no taxable opportunity to claim that loss against a gain in a registered plan. There have been many stock market crisis events in history and there’s one thing that is consistent with all the fina...ncial markets recovered. Hang in there if you can! If you have felt extremely uneasy with your investments during this time, it could mean that you aren’t invested appropriately for your risk tolerance. Make an appointment with your financial advisor or seek a second opinion to discuss. Read more financial tips in my attached a article. #covid19 #investments #finance #coronavirus #wealthmanagent #investing

My attached published article provides financial tips and a summary of government programs to help you manage through the financial challenges related to COVID-19. Please don't hesitate to message or call me if I can help you in any way. #coronavirus #covid19 #financialplanning #helpingpeople

The move comes amid growing concern about the economic fallout of the spread of COVID-19.

Do you have a spouse or kids that depend on your income? If so, having life insurance means they will be financially secure in the case of your death. Today’s rates: Female age 30, 10 year term, $250,000, cost $13 per month ... Male age 30, 10 year term, $250,000, cost $17 per month As a broker, I can shop quotes from multiple insurance companies in a matter of minutes. I can help you determine the term and amount that’s right for you. Contact me for a free quote!