Are they right for you? RRSP, TFSA, FHSA, RESP, RDSP, RRIF – the list goes on and on. I’ve written before about various account types available to us as Canadians, but now it’s February and the RRSP deadline is right around the corner (February 29 this year), so I thought I might share the results of a bit of RRSP math with you. As a quick recap, Canadians may invest in a … [Read more...] about The ins and outs of RRSPs
Arnold Machel, CFP®
Arnold Machel lives, works, and worships in the White Rock/South Surrey area. In 1995, he founded Visionvest Financial Planning & Services with the dual goals of “effecting positive financial change” and assisting clients to “Invest with Vision”. Since that time Visionvest has received numerous recognitions, including being voted in the top three in the Best Investment/Financial Advisor category by Peace Arch News readers for the past four years in a row.
Arnold has held the Certified Financial Planner® designation since 1998 and has served on many boards, currently sitting on the board of Abundance Canada (formerly the Mennonite Foundation of Canada), a national charity focused on helping Canadians give generously. He is currently a co-host with his son, Ben, on the popular monthly Retire In BC podcast.
Questions and comments can be directed to him at dr.rrsp@visionvest.ca. Please note that all comments are of a general nature and should not be relied upon as individual advice. While every attempt is made to ensure accuracy, facts and figures are not guaranteed.
Taxing times: Taking advantage of new TFSA limits
Happy New Year! Did you know that the Canadian government gave you a gift on January 1, 2024? The only catch is that it’s up to you to pick it up. They increased your Tax Free Savings Account (TFSA) limit by another $7,000 this year, bringing the total TFSA contribution limit up to $95,000. Take advantage of it! The TFSA is one of the most tax-advantageous tools we … [Read more...] about Taxing times: Taking advantage of new TFSA limits
Generosity of Spirit
Love is all you need There is no question that generosity is valued and considered to be of great importance when we review the teachings of Jesus. Whether it’s through His comments on tithing or on helping the poor, it’s very clear that He encourages us to be lavishly generous. But generosity doesn’t only apply to money. I worry that we (Christian finance writers) … [Read more...] about Generosity of Spirit
Alternative minimum tax rule changes
And why you should care I’m going to ask in advance that you forgive me. This is not a platform that I tend to use as an activist, but today I am going to do just that. And, even worse, I’m going to ask you to get involved, too. In the 2023 federal budget, the Liberal government proposed changes to how the Alternative Minimum Tax (AMT) is calculated. Since then, the … [Read more...] about Alternative minimum tax rule changes
Back to school and RESPs
Strategizing withdrawals for the best outcome Registered Education Savings Plans (RESPs) were originally introduced in 1972 and they were terrible. Seriously! We would regularly tell clients to avoid them, usually suggesting informal trust accounts instead as they provided much greater flexibility without the risk of losing all your gains. But in 1998 the introduction of a … [Read more...] about Back to school and RESPs