Logan Marchen RRC
246 George St N K9J 3H1 Peterborough, ON, Canada

True financial well-being means living life on your own terms. Try the IG Living Plan Snapshot tool and find out if you're on track to meeting your financial goals. https://snapshot.investorsgroup.com/

This article highlights the importance of accurate planning to determine when to take your Canada Pension Plan All to often Canadians rely on events that have the biggest emotional impact rather than a measured analysis of their personal situation. This articles argument is that it much more likely to live longer and run out of money, than the benefit of taking your benefits early. The right decision for you, however, will depend on your preferred retirement date, your other ...sources of retirement income, your ability to fund your income needs and other important factors such as proximity to benefit cutoffs. https://www.theglobeandmail.com//article-why-people-resis/

Fun Monday morning read: Gift ideas for those with wanderlust on your list

This year has been unexpected... to say the least. To make matters worse, more Canadians than ever say their bank accounts couldn't withstand a financial shock! A period of unemployment... A major expense or repair A health crisis or unexpected death Additional expenses in caring for a loved-one All can impact your finances, and sometimes in different ways. Risk Management is a tool we use to protect families from such shocks, it can include options such as Emergency Funds, Asset Liquidity, appropriate Asset Allocation and Insurance - as all can play a role in providing access to money when you need it most. The truth is, it doesn't happen on its own. It takes a focused effort to ensure your family has the confidence to weather any financial storm. If you want an expert look to see how your risk management stacks up - please reach out, I'd be happy to help. https://www.advisor.ca//canadians-increasingly-say-they-/

Some great news for the future security of Canadian's with disabilities! Previously, individuals with an Registered Disability Savings Plan (a fantastic long-term planning tool) could face plan forced plan closures upon loss of the Disability Tax Credit. Thankfully, in an effort to recognize "episodic disabilities" the government is moving ahead with a promise to allow plans to remain open. There is still plenty of room to adjust the governments RDSP program to better serve ...this vulnerable population, but this is a positive step in the right direction. https://www.investmentexecutive.com//govt-moves-ahead-wit/

I don't know about you, but its a habit for me to always check the expiry date - milk, bread... that can of beans in the back of the cupboard. One thing in our homes that often gets overlooked is our Wills! While they don't expire like food does, our lives can change enough to make our Wills out-of-date! The rule of thumb I've heard - "Have a Will when you buy a house or have a child" but here are 5 more times when you should review and consider updating your Will. Listed be...low: 1. When a child turns 18 2. When your executors and administrators grow old 3. When someone gets married... or divorced (!!! Very important) 4. When you Retire 5. Whenever a significant tax or estate law changes https://www.bnnbloomberg.ca/moneytalk-5-times-when-you-shou

On November, the Federal Government presented the Fall Economic Statement for 2020 which proposes several measures which could be of interest to you! It's important to remember that these measures are not yet law, and subject to change. Home Office Expense Deduction "Due to the recent shift in work arrangements of many employees as a result of COVID-19, the CRA will allow employees working from home in 2020 to claim up to $400 in employment related expenses without the need t...o track detailed expenses and without the need for a signed Form T2200. Further details will be communicated by the CRA in the coming weeks." If you'd like a pdf copy of IG's highlights, send me a message!

Thinking about using your cottage to generate extra income next year? Know what you can (and can't) deduct on your income taxes with the CRA. https://www.moneysense.ca//renting-out-the-cottage-heres-/

Relevant to many aspects of our lives. Have a GOOD plan, and stick to it.

A conversation I've heard more recently - That workers who are able to work from home should be taxed higher than those that cannot. What do you think? Its easy to dismiss out of hand, but brings up a number of complex arguments. Should we see the benefits of not having to commute into an office as a taxable benefit? Would these benefits be offset by the additional costs taken on personally (increased hydro rates anyone?) What do you think? Feel free to let us know in the com...ments. https://financialpost.com//remote-workers-should-be-taxed-

This is really exciting news! While we have always been extremely impressed by the capabilities of our current planning tools, the pace at which technology changes means we always need to be looking for ways to better support our clients on their journey towards financial confidence. I'll share more details once available!

The Liberal Government announced an $100 Billion economic relief package to help Canada's battered pandemic economy. Included in the proposal is a National Child Care system, modelled after Quebec, where parents can access child care for less than $10 per day. An interesting method of funding this plan comes from taxing digital services. This would require companies like Netflix to charge applicable sales taxes on your subscription. Your $13 monthly Netflix bill becomes $14....68. Will it be enough? Surely a topic to be discussed prior to the next Federal Budget in Spring 2021. https://www.cbc.ca//economic-update-child-care-netflix-tax

I've been skipping each day to raise money and awareness for Alzheimer's research!

Join us May 31st for the first ever IG Wealth Management Walk for Alzheimer’s online. Register, walk your way and share using #IGWalkForAlz.

Small businesses are the heartbeat of the Canadian economy and as everyone looks for ways to help, we’re offering free, no obligation, financial guidance to small businesses across the country. If you have a question about government programs or your finances in general, I’m here to help. #IGAnsweringTheCall

In this video I walk through a cash flow tool, and how knowing your cash flow is KEY to improving your financial wellness. If you'd like to follow along by filling out your own Cash Flow tool, comment down below with "Cash Flow" and I'll send a copy to you!

Very interesting thoughts on how our world may look different in the post-pandemic world. What steps are you taking today to prepare yourself?

At IG Wealth Management, we go beyond RRSPs to look at your whole financial picture to forecast your monthly income in retirement. http://ig.ca/en/retirement-planning

Steve Locke, Portfolio Manager at Mackenzie Investments shares his approach to investing in the current environment.

Does social distancing have you running your business from home? Here's 8 deductions you should track for taxes next year!

What you should be doing MONTHLY to improve your financial confidence. In total these steps should take no longer than 30 minutes each month, but investing such a small amount of time can pay off huge when it comes to improving your financial well-being. 1. Begin by reflecting on major changes to your expenses, income and goals since you last check-in... - of real importance here ensuring you are keeping current with your finances, and priming yourself to look for specific items while reviewing your accounts. 2. Review your bank accounts - log in to your online accounts and review your statements. Are the balances where you expected them to be? Also take this time to note your transaction history, are there any items that stand out or surprise you? How do you actively spend on a day by day basis. 3. Review and update your budget - while you have your transactions up, check in with your budget sheet and update anything that needs to be changed. Pay close attention to the bottom line here, do you have any money left over? If you need help getting started with creating a budget sheet, reach out in the comments below or send a private message and I'll send you a free tool we use. 4. Review your debts - now that you have an idea of your monthly surplus, review your outstanding debts. Can you afford to make additional payments and accelerate your debt payoff plan? 5. Review your short term, medium term accounts - now that you've taken care of the basics, is there money left over for you to top up your emergency fund or put towards a slush fund for your next big vacation? Don't forget to track how close you are to achieving these goals, to reinforce your commitment to the steps needed to get there. 6. Review your long term investments, including employer plans - I would suggest savings into these accounts be automatic and already reflected in your budget, to take advantage of the pay yourself first strategy. If it has been some time since your last review, make sure these plans are still on track towards your long term goals or do they need to be adjusted? 7. Consider your next scheduled advisor meeting - by going through this exercise you'll be prepared and confident in your current finances which will pay off during your next meeting ensuring you get the most put of tax planning, risk mitigation, and retirement planning. All of these steps ensure you are ready to improve your financial wellness, and actively take steps toward improving your financial wellness.

Confidence in the advice you receive is key in improving your financial wellness - one of the major resources we have at our disposal is the Specialist network for Lending Solutions, Insurance and Wealth Planning. Check out the attached video for more information.