Precedence Private Wealth
300, 230 22 St E S7K 0E9 Saskatoon, SK, Canada

So your ultimate goal is to pay your mortgage off faster... So why are there no strategies promoted by financial insitutions to actually assist with this need? Because the banks are not interested in you paying off your mortgage sooner. ... But we most certainly are.... Enter the "Tax Deductible Mortgage Strategy".... This strategy gives Canadians the potential to earn tax refunds from making their regular mortgage payments and using them to pay down their mortgage faster to become mortgage free much sooner. It also gives Canadians the potential to build additional wealth simply by making their regular scheduled mortgage payment. By becoming mortgage free quicker, it then allows Canadians to enter into the TFSA Maximizer Strategy much sooner. Learn How This Strategy Works... https://www.youtube.com/watch

Income taxes and mortgage interest... These are by far the highest expenses Canadians have today! By creating a Tax Deductible Mortgage, Canadians can not only deduct the interest on their mortgage, but they can use these tax refunds to become mortgage-free up to 50% faster!!!... Saving hundreds of thousands of dollars in future mortgage payments. All by simply making their regular mortgage payment. Learn More https://www.precedencewealth.com/tax-...

The saying is..."You can't have your cake and eat it too" It couldn't be more true then when it comes to assessing Risk Parity Strategies during rapidly rising markets... YES, the protection and benefits of utilizing a Risk Parity Investment Strategy far outweigh the negatives over time, but during surging equity markets it can sometimes cause investors to second guess things.... Remember that the lagging asset classes within a fully diversified portfolio are intentional and by design!!! If all asset classes rose in value at the same time, you would not have a properly diversified portfolio. It is crucial to look past your short term memories and emotions and realize that what saved your portfolio earlier this year may actually hinder upside potential should the markets rally sharply. However, we need to be excited to see the diversity and laggards in your portfolios. It means your investments are set up properly and you have likely removed all forms of speculation from your portfolio. A true winning strategy over the long term.

We’re getting asked where Deanna's videos have been... Everything is good with us! It has been a few months of updating our financial planning processes and growing our team which is super exciting! We have never had more interest in the work that we do and we are totally humbled and grateful for all of the people throughout Canada that have reached out to learn about our firm. Throughout the last few weeks of these interactions we have witnessed 3 of the Biggest Financi...al Realizations from new prospective clients: First and foremost, we are experiencing that most Canadians simply do not have a true investment plan... Investors, unfortunately, witnessed, that with the markets decreasing dramatically this year, they were significantly exposed financially. This was caused by improper diversification and led to lost opportunities throughout this Covid pandemic. I would say nearly almost every prospective client we talked to had the following conversation with their financial advisor or institution...."We simply need to be patient and wait it out." "Waiting it out" is not a plan. An investor simply can not sell low to buy low you. There are zero benefits. When the markets dropped, if you did not have an asset class that was non-correlated and went up in value as equities retreated in value, you simply did not have a truly diversified portfolio. Secondly, Cash is King... This is moving away from being called an emergency fund and more towards the need for available cash resources. People have more than ever, now realized that anything can happen. Anyone can lose a job and/or take a huge economic hit at any point in time, often out of their own control. Many Canadians, more than ever, have stepped up to ensure they have extra cash available. Lastly, we are witnessing massive regret from people for not being fully prepared for this recent market opportunity... Obviously, you cannot control the timing of such opportunities and when they come about. Many new clients have come to us with regret for not being fully prepared for this kind of market opportunity. They now have a written plan and are better equipped and prepared for when the next available opportunity arises.

One of the most significant hurdles to beginning the Tax Deductible Mortgage Strategy in the current interest rate environment is the potential for a higher than normal mortgage payout penalty. However, we always need to consider the true math behind these circumstances and not be intimidated by a big number. Yes, it needs to be taken into consideration but it does not mean that one cannot consider this strategy today. In this video, we explain when it still may make sense to enter into the strategy despite a possible substantial mortgage payout penalty.

The answer is Yes and No! I am getting this question often in the last few days so let's get to the bottom of the answer. If you are buying personal protective equipment for personal use for your home, desk or vehicle you cannot claim personal protective equipment. ... You can however claim it if you are required to purchase it as an employee for your employment and it does not reimburse you. Your employer will have to sign a T2200 in order for you to claim the expense. You also can claim personal protective equipment if you are self-employed and run a business and require for your business or employees.

Sitting in cash is the worst thing you can possibly do. At worst, an investor should always stay fully invested and pay close attention to their diversification and ensure they have adequate non-correlated investments relevant to equity markets. But what if you want to put your money to work, and are simply nervous about buying in at an unfavourable entry point? are great investment options for long-term investors that are looking to "get paid while t...hey wait" or "income while markets strengthen". In this video, we discuss a quick example of how these may benefit investors looking to invest in markets over the long term but are somewhat hesitant because of current market valuations.

Yup...hearing this is likely the absolute most painful thing for my ears. "We have hundreds of thousands of investments in addition to our RRSP's. Zero in our TFSA's." At this stage of the game, Canadians need to know more about Tax-Free Savings Accounts. After all, there is now a significant amount that can be carried inside TFSA today. Most families can contribute close to $140K with another $12K available in January 2021!!! ... This is no longer small potatoes... So let's please start getting better at this and make sure to have as much investment growth that is outside of registered accounts...INSIDE YOUR TFSA! Taxable, or...Tax-Free. It is that simple.

We scream this from the rooftops... "Accounting is not the same as Tax Planning" We equate it to 'counting the beans' vs 'growing the beanstalk.' Yet, we virtually never see anyone comment on how they receive proactive tax planning advice from their financial or tax professionals. They are the ones that have to bring the "ideas" to their accountants. ... This simply needs to change stop. And you deserve far more as a client.