In Ontario, the top marginal tax rate is 53.53%. Tax rates can’t go up any higher, can they?? Although 53.53% seems like a lot, historically it is quite low. Can you believe that between 1936 and 1980, the top tax rate exceeded 70%, maxing out at 92-94% in the 1940’s and 1950’s? Considering that both … Read more
I was at an event over the weekend and started chatting with a woman who was concerned about the next generation. Her concern was over how difficult it is to get ahead financially today. Compared to when she was starting out, things are much harder today. Buying a house is harder, investments aren’t growing like … Read more
Continuing on with our discussion about insurance, let’s go back and look at a little history. In Canada, life insurance predates Canada becoming a country. The first life insurance policy was issued in 1847! In addition to the death benefit, the policies were also considered safe savings vehicles. In the roaring twenties and the depression … Read more
Last week I started off by discussing the different insurance products out there and how they are tasked with providing money should the unexpected occur. I also spoke about how either life insurance is a misnomer, or we aren’t using it correctly. Term ‘life’ insurance is actually death insurance. It pays out only if you … Read more
Last week I promised to discuss insurance products. Let’s start out by stating the obvious. Insurance is there to help out financially when the unexpected occurs. For example, we buy disability insurance to replace our paycheck if we are sick or hurt and unable to work. We buy critical illness insurance to provide cash for … Read more