There’s a saying about lawyers that doesn’t exactly bode well for retirement planning: “Most lawyers live well, work hard and die poor.” And there’s more of that middle part – the working part – for lawyers than for most.
There are tax-efficient structures in place to give Canadians of all ages a bit of help – but too few of us are taking advantage of them. Here’s a list of differences between RRSPs and TFSAs to help you decide which one makes more sense for you.
If you’ve ever tried to sleep while a car alarm goes off outside your window, you know: if the alarm lasts long enough, you kind of get used to it. (Unless, of course, it’s your car). But just because you get used to stress doesn’t mean it isn’t there.
Many Canadians arrive at a financial crossroads in the middle of their career. A stable income and a successful practice make it possible to pay off your mortgage faster. It seems like a straight forward financial decision but it’s anything but …
Canadians have skipped the dishes, sure. But we’ve also skipped vacations, and haircuts, and dry-cleaning, and fill-ups and more — and it’s all added up to the highest household savings rate in history. How will you use this rare opportunity to fast-track your financial plan?
Lawyers Financial Advisory Services Inc. (“LFAS”) is licensed to sell life and accident & sickness insurance across Canada. LFAS is a wholly owned subsidiary of CBIA and promotes and distributes Lawyers Financial products and plans across Canada.
Lawyers Financial products and plans are sponsored by The Canadian Bar Insurance Association ("CBIA"). Lawyers Financial is a trade mark of CBIA.