Kim Aitken, RRC

Happy Friday!! How did everyone’s week turn out? I was studying and reading some quotes last night and this one really popped out at me and I wanted to share. It’s so beautiful, how often do we let FEAR stop us from doing the things that light up our soul and live the life we dream? How many times do we push that little voice in our head and that gut feeling aside because we are operating from a lack mindset? (Too many to count for me) Lack of time, lack of money, lack of confidence. Flip that switch to an abundant mindset. It’s time to live that bigger, bolder life you’ve always dreamed of. Fear will always be there, have the courage to move through it and be met with the life you’ve always wanted. ...when you step towards the light, the light will always catch you Enjoy your weekend and be safe

Good Morning Everyone! Happy Tuesday! I hope you all had a lovely weekend and enjoyed the beautiful weather we were given! This picture above is such a good representation of what I wanted to chat about today. Passive Investing (escalator) vs. Active (taking the stairs) Have you ever heard the term Active Investing and Passive Investing and wondered what it all means? Ill break it down for you to make it super simple and understandable, so you can be more aware of your opt...ions. Index funds (passive investing) track a target benchmark or index rather than seeking winners, they mirror the investment holdings of an index and its performance, for example you could invest in a fund that follows the S&P 500. Its very transparent, and always clear as to which assets youre investing in. Its simple, easy and a hands off approach. Some call it The Couch Potato Method. Index funds avoid constantly buying and selling securities by a Portfolio Manager, and as a result, you benefit from lower fees and operating expenses than actively managed funds. Actively-managed Portfolio aim to outperform the market measured by a specific benchmark. This strategy requires a hands-on approach, typically by a team of managers who actively chooses what the fund invests in. They need to make decisions about where to invest for the best returns, and consider such things as economical shifts, and any factors that may affect specific companies they hold. The manager aims to make investments which deliver returns that beat the funds particular benchmark. So this the fees are typically higher. Any questions? Do let me know. Do you have suggestions on other areas youd like to learn about? Send me a DM. As always, enjoy your day ahead!

Happy Friday!! How did everyones week turn out? I was studying and reading some quotes last night and this one really popped out at me and I wanted to share. Its so beautiful, how often do we let FEAR stop us from doing the things that light up our soul and live the life we dream? How many times do we push that little voice in our head and that gut feeling aside because we are operating from a lack mindset? (Too many to count for me) Lack of time, lack of money, lack of confidence. Flip that switch to an abundant mindset. Its time to live that bigger, bolder life youve always dreamed of. Fear will always be there, have the courage to move through it and be met with the life youve always wanted. ...when you step towards the light, the light will always catch you Enjoy your weekend and be safe

Do you have multiple income streams setting you up for success? I strongly believe this is part of a strong financial foundation. Whether you use the income to further invest in your future and retirement, or for a specific goal such as travel or education, either way multiple income streams is where its at! Theres several areas we can look at;... Of course I want to start out by talking about investing in a good Dividend paying investment Blue Chip Stock is typically a fairly safe bet and every quarter youll receive some cash, I wouldnt be good at what I do if I didnt encourage you to reinvest that dividend and get your money working even harder for you, but you get the idea Cash Back Credit Card! Everyones needs are different, and if you arent favourable to travel points, try a cash back rewards card! Most cards have between 1% and 5%. Dont let the annual fee detour you away from a higher cash back! Do the math of your monthly expenses, charge your card for everything you would use on your debit (ensure you pay back immediately!) and youll love that extra cash! I do this on travel points, as travel is my jam! Im flying free baby! Now thats what Im talking about! Rental Income; theres many different options here! Heres a few to get started; 1. Have a garage and only use it for storage and not your car (ummm, it happens, Im living proof!) Rent it out for storage space 2. Extra Gravel/Paved pad on your property because you never did get that trailer you had hoped? Rent it! 3. Have an unoccupied room in your home? Can you say Air B&B! 4. In the market for a rental property? Why not one with a basement suite as well? Dual income! Sell your own products on the internet; The possibilities are endless here! You can sell just about any product or service that you like! I make Jewellery because I love the creative outlet it allows me, and it turns out my friends like my style so it turned to a side hustle Do you paint, macrame plant holders, create coasters, refinish furniture? Anything thats unique, creative and fun? Try selling it! Give it a go! Also PS. If you make Macrame I need some Sell your clothes that you just had to have and still sitting in your closet with the tags attached! Ladies, Im talking to you! Otherwise, its just me that has a shopping problem Write a book or ebook There's a lot of work upfront, but if you enjoy the process of writing and speaking on something youre passionate and knowledgeable about, why not?? Once the book goes into the sales stage, it becomes a completely passive venture Network Marketing for a product you love! Theres just a few ideas on areas that Ive taken advantage of. Do what feels right for you, start with one thing and try it out. Id love to hear how it turns out for you!

Who checks their credit score on a regular basis I have this weird thing where I get excited to see my score I worked hard for that number! I want to protect it as much as I can which brings me to my topic of fraud.... Did you know that in 2019, nearly 45,000 Canadians fell victim to fraud, losing more than $96 million, according to the Canadian Anti-Fraud Centre!!? Thats insane! 96 MILLION!! ... As technology and systems rapidly advance we need to be so careful with all our information we put online, emails we receive, text messages and phone calls. These fraudsters are getting tricky and unfortunately in times like these when people are most vulnerable is when we see cases increase. I check my score every few months, its a great practise and my Bank has an Online Credit Score Check so its super simple and free! These checks are known as soft hits so contrary to popular belief this WILL NOT affect your score by checking. I suggest to take the time to also checking your your bank transactions, shred personal papers and ensure youre changing your passwords frequently!

Hi there! Welcome to sunny Wednesday! There isnt anything better than waking up to the sunshine I read something today, it said; Save to invest, dont save to save ...Continue reading

Heres a simple, calculation that Ive used for many years on calculating how long it will take to double your investment dollars! Useful to know, and super easy to remember!

Hello and happy Tuesday! This post is later in the day than usual as I was juggling a few to ten balls today . Now, Im feeling more balanced and ready to chat about whats been on my mind.. Are you aware of the differences between a Successor and Beneficiary when it comes to your Spouse or Common Law Partner (CLP)? Its super important to know as this subtle change can make a huge impact when your loved one passes! I know its never really a welcomed topic as it can be e...motional, however it is essential to the estate planning process. TFSA and RIFs are the only investment vehicles that offer a Successor option, (remember Im in Alberta) and for purposes of this post Im concentrating on the TFSA as my experience shows this account seems to have the most confusion. The easiest way to explain the difference between a Beneficiary and a Successor is one would receive the money upon death (Beneficiary) whereas the Successor holder would receive the account with the money inside it. Whether you have assigned your Spouse or CLP as a Beneficiary or Successor both have the benefit of the assets flowing directly without going through the estate, which helps expedite the process, and potential savings on probate fees. The advantages to a Successor is the plan will continue with all rights passing to the surviving spouse. The tax exempt status remains and doesnt affect any contribution room of the Successor, it simply moves to a new owner. For most, this is the most beneficial, simple, cost effective and seamless designation when it comes to processing the estate. In contrast if we designate a Spouse as a Beneficiary (and it does happen) on a TFSA theres many moving pieces, complications, time and paperwork needed; 1. A Spouse designated as a Beneficiary does have the option to contribute any payments received out of the deceased TFSA (up to the date of death value) into their own without affecting their unused contribution room, however you do need to fill out Form RC240 within 30 days of contribution and you only have until Dec. 31 of the year following the year of death to complete 2. Any growth in the account between the date of death value and the payout date is taxable to the spouse 3. The tax exempt status of a TFSA ends, and any growth is taxed in the hands of the Beneficiary Looking at it from this tax perspective its hard to argue that the Successor is the right option, however there may be situations where its not. In any case, no matter what you chose its always beneficial to have all the facts before making this choice. Dont be afraid to get your Accountant in on the decision either and speak openly to your Advisor while and be reviewing your designations. I hope this was helpful, and if you have any concerns you can reach out to anyone on your financial team (or myself) and Id be happy to help. I hope youre able to enjoy the rest of your Tuesday and make it count!

Good Morning! Happy Monday everyone! It started at 5:00am for me, early Mondays are good starts for the week ahead! I recently posted about the TFSA program and how important it can be in any financial plan. One of the other common questions received is what is the difference between TFSA and RSP? Simple; ... TFSA is funded with after tax dollars and any investment gains are withdrawn tax free. A TFSA does not provide you with a tax deduction. An RRSP is funded with before tax dollars for tax deferred growth (which is owed upon withdraw) and provides you with a tax deduction upfront. Each have limits; TFSA is $69,500 RSPs is 18% of your income to a max of $27,230 plus any carry forward from previous unused contributions Both can be assigned a Beneficiary or Successor - watch for another post on this as its important to know the difference between the two Both carry a penalty of over contribution at 1% per month, however RSPs have a $2,000 lifetime over contribution limit whereas TFSAs have $0.00 Each carry their own importance in a well rounded Financial Plan. Generally speaking higher wage earners want the RSP tax break upfront and then in retirement they are able to make withdraws at a lower tax rate than when they first contributed. This is where it really helps to have a Financial Planner to help you through the process because it can get tricky, its hard to predict your financial situation later in life and If you accumulate a high balance of funds in your RSPs, retire with other sources of income such as a work pension, your withdrawals could still put you into a higher tax bracket and you could even potentially face having your Old Age Security Clawback. TFSAs are a good option for just about anyone with long or short term goals, and can be far more flexible than an RSP. Starting the planning process early with an Advisor opens you up to options. Everyones personal financial situation, goals and dreams are different, that is why it is SO important to sit down and come up with an individualized plan to meet your personal financial goals. I hope you found this information helpful!

Happy Saturday Everyone!! Whats your plans for the lovely weekend ahead? Im looking forward to spending some quiet time in my garden, and you guessed it a trip to the water! Abby (my Westie) and I might go into the mountains, we might stay near home, most weekends are filled with flow and no particular plans, just the way we like it I wanted to talk about TFSAs. I feel everyone should have one, yet not everyone has taken advantage of this important savings vehicle acco...rding to stats done in 2019. The program was introduced in 2009 for every Canadian Resident who is 18 years or older with a SIN. Every year the contribution limit incrementally increases to where its at today to $69,500. A Tax Free Savings Account is simply that, you invest with your after tax dollars, and returns you make are non-taxable. The most common client misconception Ive come across is individuals think that the TFSA is only eligible in a savings account, this is not true, the name is misleading for sure, but you are eligible to carry several investments such as Mutual Funds, Index Funds, and Stocks to name a few as long as its opened under the TFSA umbrella. Depending on your financial situation and goals, it generally makes sense to invest your TFSA in an investment geared towards growth. Tax free compounding is a powerful tool to supercharge your returns and harder to take advantage of if you keep it in a simple savings account. Would you rather make $1,000, $2000, or $5,000 tax free or $5, $10, or $15? The choice is yours and highly individualized towards personal goals, time horizon and risk factor. If you have money sitting in Non-Registered Savings, have maxed out your RSP contributions, OR a tax deduction simply doesnt benefit you, consider discussing a TFSA in more detail and how it can positively impact your financial future.

I introduced myself briefly earlier in the week, I wanted to share some more personal details; I often get the same response when I tell people how long Ive been in Finance for You dont look old enough for that long! Are you sure?? Lol, yes I assure you, I am old enough! I grew up in the bank and its helped shape me into the woman I am today! My favourite season is Summer and its far too short for a sun fanatic like me! Being near water, on a beach, or at the pool unde...r the sun is my second home during Summer. My 10 year dream is to sell everything I have, find a spot with a cabin on a lake, or run a tiki hut in tropical paradise, with a tiny home OR maybe not settle and jump from country to country every few months... well see how my vision turns out I have lots of hobbies outside the bank. I paint; most often its acrylic pour painting or fun things like sunsets, trees, scenery and maybe a bird here and there. I also make crystal jewellery; I love every part of the designing and creativity. I write and study a lot; I have 11 journals/notebooks currently, all for different reasons.... cmon, Im Type A! That should explain it! Writing has always been a thing of mine since I was a teenager, and would like to write a book someday. I read a lot; mostly self development and spirituality in general. I listen to podcasts; Mark Grooves, Jay Shetty are some of my current favourites. Coffee has my heart Music, concerts and festivals is my GO TO for everything! Happy, Sad, Angry, Frustrated? Theres a song for that! I also have solo dance parties at least once a day to shake out stagnant energy I have 33 houseplants, 2 children, 1 dog ANNND, I started my first garden this year! Its a pretty simple life, its what I like. Im not a big crowd person, I like small and intimate, networking at large events isnt really my thing, I get nervous. For my followers, if youd like to share Id love to hear from you below!

Alright, were heading back down the investment road today... can you tell its my heart?? Anyway, lets chat about Dollar Cost Averaging. Soooo many people come to me and want to market time, challenging to do with very little success, and heres why; Its human nature that when we see others making money on an investment that continues to grow, we want to get in on the action! Its an emotional response (enter Pot Stocks > am I right?), then something happens to ch...ange the trajectory, value starts to plummet, panic sets in as everyone else is panicking and selling so your instinct is to sell before it gets any worse. In other words, not only is market timing a poor strategy, most people are wired emotionally to get it totally wrong. A more strategic way is Dollar Cost Averaging. What this means is you consistently invest into the market at different times, therefore different price points of the desired investment. The idea is to get the best price on a desired investment by controlling market fluctuations, rather than trying to market time. For example, lets say you are going to invest $50 per month into a mutual fund that has a starting price of $5 per unit. When prices drop you may get concerned because the value of your portfolio drops. With dollar cost averaging, you can systematically take advantage of price drops by continuing to buy more units of the same investment. The power of dollar cost average happens when the price rebounds and comes back because you now have more units working for you. Its really just math

Happy Wednesday Everyone! I wanted to start off the day by talking about the Home Buyers Plan (HBP) some of you may know what it is, some may not, in any case I thought it would be timely. Effective today Canadian Mortgage and Housing Corporation has changed their qualifying rules for an insured mortgage (so if you have less than 20% this effects you!) What is the HBP? ... The Home Buyers' Plan is a program that allows you to withdraw funds from your Registered Retirement Savings Plans (RRSPs) to first time home buyers TAX FREE (Funds need to be held in RSP minimum of 90 days) There are a number of qualifications that we can work through together, but for a quick glance here are some; 1. You are considered a first-time home buyer if, of course youre a first timer homebuyer OR you or your spouse/common law partner have NOT owned and occupied a home in the four year period leading up to using the program 2. Written contract to buy or build 3. Resident of Canada 4. You must occupy the home for minimum of one year The HBP has a maximum withdrawal limit of $35,000 which is repayable back to your RRSP over 15-year period. ($35,000 / 15 = $2,333.33 minimum annual payments) Its a pretty simple program, every year ensure you make your minimum payment back to your RSP, if you dont make any portion of your minimum payment that amount is taxed as RSP income. Your payments do not qualify as another RSP Contribution. Theres also no limit to the amount you pay back per year, you could repay it all the following year if you so chose, although I highly recommended talking to your Advisor or Accountant on repayment option plans that are the MOST beneficial for you, as everyones situation is personal l always recommend sitting down with a professional before making any large financial decisions

Happy Tuesday All! To continue from yesterday I wanted to go a bit deeper into Risk vs. Reward as well as Time Horizon when investing. When it comes to investing, risk and reward are inextricably entwined. All investments involve some degree of risk. When you intend to purchase securities - such as stocks, bonds, or mutual funds - its important that you understand before you invest that you could lose original investment dollars. Investment time horizon is extremely impor...tant, typically the longer your time horizon towards your financial goals you can warrant taking a greater degree of risk and invest in various Mutual Funds, Stocks or Property as you have time to move through market cycles, while the shorter time horizon goals are generally best suited in savings accounts, guaranteed certificates, or any fixed interest vehicle that has little exposure to the market and little to no risk of ever losing principal. However, you also want to be aware of inflation risk in this scenario. Inflation Risk is the purchasing power of your money, a carton of milk that costs $4.00 today, may cost $4.50 next year, seems small but extrapolate that out a few years and in bigger dollars and it makes a big difference in your real return! So, make sure if you are an investor with a short time horizon that it is actually short and at minimum try to keep up with inflation so your purchasing power stays the same. All longer term Financial Plans should always calculate inflation in your return so you are fully aware of what your purchasing power looks like in 5-10-15 years. *Your Advisor will be able to help you with your own personal financial plan - every individual is different which warrants a full in person decision before any investment decisions are taken*

Asset allocation is an implementation of an investment strategy that attempts to balance risk versus reward by dividing an investment portfolio among different asset categories, such as stocks, bonds, and cash. Heard the saying Dont put all your eggs in one basket? this is the perfect example of diversification and lowering overall portfolio risk. The process of determining which mix of assets to hold in your portfolio is a personal one and will depend largely on a client...s time horizon, ability to tolerate risk and objective of the fund... (more on that in tomorrows post). The idea of asset allocation is historically, the returns of the three major asset categories have not moved up and down at the same time, one asset category may increases in value, while the other may decrease (or may not increase as much). By investing in one or more asset category, youll reduce the risk that youll lose money and your portfolios overall investment returns will have a smoother ride. #assetallocation #diversification #investmentstrategies #investmentmanagement #balancedapproach #equities #fixedincome #reachyourgoal #financialwellness #financialliteracy #knowledgeisfree #moneyboss #investing101 See more

Good Morning All! For those of you who dont know its been a long road to recovery for an injury I sustained falling down my stairs. It seems my body doesnt bounce back like it used to, and one break has lead to many more issues in my leg that Ive been trying to patiently work through with Therapists and Doctors. Its proven to be frustrating and a challenge mentally, however with lots of dedication and therapy Im hoping to be in a more pain free zone where Im able to ...enjoy more of the simpler things in life again With that, I wanted to try something new on this page, and thought sharing different pieces of knowledge when it comes to Financial Literacy and Wellness may be beneficial for some followers. Im also on IG as financial_literacy2020 for anyone who would like to follow along there. The goal is to provide objective content to help strengthen your knowledge, skills and confidence when making financial decisions. Is there something in particular youd like to learn about? Let me know in the comments!

This is great to hear that Ontario curriculum will now include financial literacy for all elementary-school grades. In Grade 4, for example, students will learn about various payment methods. They will learn about the different ways to transfer money, including e-transfer, in Grade 5, and financial planning in Grade 6. Although the timing of the role out is questionable due to being out of school since mid-March, this is extremely important and beneficial for our youth. Lets hope Alberta will follow!

Beautiful and proud to witness how CIBC is doing their part

As we have closed down many locations, limited hours and on 14 day rotations please only visit for essential needs, and if you dont quite know how to do banking on your app and use that as an excuse, call and I know any of the ladies I work with would be so very helpful and thankful you called to learn how to do this to keep everyone safe Thank-You

This gift hits close to home supporting the University of Lethbridge where CIBC donated $250,000 as part of the University of Lethbridge SHINE campaign. Its goals are to support the development of co-operative education placement positions for students with disabilities, provide comprehensive supports to enhance student success. The program also seeks to develop effective partnerships with employers so that they can provide quality co-operative educational opportunities for students with disabilities.

Chinas health crisis is testing the entire global economic system, read on to understand more.

At Park Place Mall gift wrapping some pretty awesome gifts with some pretty amazing teammates!

Come join us on this special day..

Proud to be part of the Lethbridge CIBC Team

When an organization comes together to create a support of a local fundraiser Thank you to the CIBC family - - CIBC, CIBC Comm...ercial and CIBC Wood Gundy who all came together to support this years Walk a Mile in Her Shoes. Register and begin your fundraising for those who are turning their lives around after domestic and sexual violence. When the celebration party happens on Sept 20th we will all be able to move it, laugh and have some fun at the CIBC warm up! To sign up: http://bit.ly/WAMYQL Sponsorship opportunities are still available for those corporations that would like to further share and show their support. Please contact Yvonne [email protected] for more info CIBC CIBC CIBC CIBC

Stop by the Downtown CIBC Branch this Friday September 6th from 11am-2pm for a $5 lunch of Taco in a Bag! All proceeds will be directed back to the Lethbridge CIBC Run for the Cure.

This was such a fun night to be part of, looking forward to next year!

Overall, according to various sources, B-20 accounted for 50-60% (or $13-$15 billion) of the overall decline in originations throughout 2018. Notably not due to smaller mortgages but less buyers. Might be time to rethink the stress test...

So this article states that in order to combat the debt crisis, financial education should start earlier, and high schools should be required to teach personal finance to all students. Others point out that research shows lessons on financial literacy in high school have no long-term impact on financial behaviour and to change curriculum state-wide is a massive undertaking. Statistically one year ago Canadas household debt was around 170 per cent of disposable income. In o...ther words, the average Canadian owed about $1.70 for every dollar of income he or she earns per year, after taxes, up about 100% from 20 years ago. For me, Ive always been and always will be an advocate for teaching financial responsibility early on in life. I was one of those figure it out yourself, and thankfully I started in the banking business at 19 so I was able to learn from my mentors. What about the millennials and the generations to come? What are your thoughts on this?

Come check out an amazing concert raising funds for a great cause! Doors are open and we are here to greet you!

If you or someone in your family is living with a disability, then the Registered Disability Savings Plan can be an excellent way to save, tax-deferred, for the future as well as potentially collect up to $90,000 in government grants and bonds.

Currently, seniors have to apply to receive their pensions, Liberals said they would amend legislation so that CPP contributors over the age of 70 are automatically enrolled.

Very impactful message shared by a friend. It seems to be a conversation most avoid due to the high levels of emotions a topic like this can generate, but this conversation needs to happen to ensure your individual wants are met at a time where you are unable to advocate for yourself. I also feel its extremely important to ensure you have a will put in place, being in the financial industry Ive unfortunately seen circumstances where one wasnt put in place and not only does the family need to pick up pieces of their broken heart from losing you, they also need to deal with the courts. Protect yourself, but also protect your family so they can start to heal instead of being drug thorough the mud at a time when all they seek is closure and healing

Ottawa raised the Home Buyers Plan limit to $35,000 from its previous $25,000 - heres how to take advantage of it.

Great article on what a comprehensive financial plan covers. Is there something missing from yours?

I found this article interesting. With some subtle changes we can start to expand who we are while cultivating a deeper connection with our clients