Sally Gelpke -- CFP, BA, MEd

Senior Financial Advisor

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Articles

Financial planner shaking hand with client

"Having a comprehensive financial plan with the guidance of a CFP ® professional can provide a road map towards greater financial and emotional well-being. We urge Canadians to take control of their finances by talking to a CFP professional about their goals and financial planning needs."

Estate planning documents with pen and calculator

Much has been written about the TFSA’s advantages: the accumulation of tax-free income, the ability to re-contribute withdrawals, access to funds without impact on federally sponsored benefits such as Old Age Security (OAS). But, not much has been said about the estate planning implications of a TFSA. Given that the majority of TFSA holders are aged 65 and older...

Retired couple
  • You have until Dec 31 of the year when you turn 71 to convert the account to a RRIF.
  • Some institutions will do it automatically so even if you don’t do anything – you will be the proud owner of a RRIF account on Jan 1 of the year you turn 72.
  • You can convert your RRSP to a RRIF anytime you want before the deadline. One reason someone might convert early...
Person on wheelchair with piggy bank

The RDSP is intended to encourage saving for the long-term financial security of a person eligible for the disability tax credit. An RDSP may be set up by the disabled person, one of his/her parents or his/her legal representative.

Hands holding model of a house

Joint tenancy has always been a complex estate planning tool, particularly when only one person contributes financially to a jointly held asset. However, the complexity has increased since 2007, the result of two landmark Supreme Court of Canada judgments.

Muskoka chairs in a dock overlooking a lake

Cottages, cabins and chalets are typically passed on from generation to generation. With summer on the horizon, here are some tax and legal issues to contemplate if you have a client who is considering selling the cottage to family members.

Tax refund

In light of recent global market volatility and its impact on clients’ portfolios, advisors are naturally investigating avenues to help investors mitigate losses while positioning their portfolios to benefit when the markets recover. One such avenue involves seeking out opportunities to help clients reduce the amount of tax they pay on their investment income.

Calculator and pen on top of sheet with numbers

Tax Free Savings Account (TFSA) came into affect in January 2009. There are tax benefits to using the TFSA as a short-term savings plan; however, these benefits can be much greater if the TFSA is used as a long-term investment plan. Why? It’s all about the power of tax-free compound growth.

Piggy bank

Some investors feel they have enough information to time the market, waiting for the perfect moments to enter and exit. If this sounds like you, there’s something you should know. While you’re sitting on the sidelines, some of the market’s best single-day performance could slip right by you. A poorly conceived timing strategy means you might be forced to forfeit these gains.

Compass on top of stock sheet

When markets are volatile, it’s natural to be worried about the impact on your portfolio. And when you’re worried, you want to take action. However, it’s important to recognize that sometimes the best course of action may be to do nothing. If you have a sound investment plan, you already may be in the best possible position to weather the market storms.