Edmonton Real Estate Blog

You’ve spent a lifetime planning and building an investment portfolio designed to help fulfill your retirement dreams. Now that you’re at or nearing retirement, the time has come to look at options for drawing income out of your non-registered investments. Ideally, you’d like to do it all – that is, enjoy the active lifestyle to which you’ve become accustomed while savoring the satisfaction of knowing you’ll be leaving a meaningful legacy for your kids.

With an insured annuity, you may be able to do both

A portion of your conservative investments are used to purchase a prescribed annuity contract and a permanent life insurance policy. The annuity can generate a lifetime payment stream, that is partially taxable income and partially a return of capital, that pays the life insurance premiums and tax on the annuity. The remaining amount is used to supplement your income. At death, the life insurance proceeds provide a gift to your heirs or favourite charity.

Feel free to contact me or visit my website for more information.

Financial life planning gets to the heart of the matter by reviewing your finances in relation to the rest of your life. This process connects the disciplines of financial planning with your life in order to develop a customized plan that is best-suited to your needs, goals, and aspirations. By taking into account your current financial situation and looking at it in the context of where you’ve been, where you are now, how you got here and where you’d like to go, financial planning gets brought to life, your life – to provide you with the best possible financial plan.

Feel free to contact me or visit my website for more information.

Today’s clever kitchen designers have storage solutions to fill every nook and cranny in all sorts of kitchens. These handy helpers can help you take advantage of every square inch. When you’re grappling with backsplash material decisions, consider something that can help you snag some extra storage, too. This stunning kitchen has a secret that amps up the storage possibilities without taking away from its clean look. Go beyond basic shelving for your base cabinetry. Today’s kitchen organization additions come in every kind imaginable to help you sort and store your belongings. Use a mix of slide-out shelving and drawers to access heavy items, and custom pullouts to house mixers, spices, cutting boards and baking sheets.

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Source: Houzz.com

When drawing retirement income, greater returns, even if accompanied by greater volatility, can increase the amount of time an investor can withdraw from their portfolio. Taking $5,000 a year from $100,000 cash that is not earning income guarantees that the savings will be depleted in 20 years. An investor investing in a moderate portfolio can potentially take $5,000 per year for 32 years.

Feel free to contact me or visit my website for more information.

This summer gardens and outdoor green spaces often look limp and lifeless due to lots of hot, sunny days and limited precipitation. No need to despair, just a few simple tips can help to rejuvenate any outdoor space well into fall – and be water-wise as well.

Garden

Mulch

Mulch adds a nice, finished look to beds, paths and containers alike. It also helps to keep weeds out by blocking access to sunlight, reduce competition for water and nutrients from weeds, retain moisture in the soil where the roots can access it and moderate soil temperatures. In essence, mulching around plants, trees and shrubs is fundamental to keeping water where it is needed. Mulch your landscape beds at a depth of 2 to 3 inches of straw, shredded leaves, or bark mulch. Here’s another tip: Ever see mounds of mulch piled up around a tree base, sometimes called a “mulch volcano”? Don’t do this. Piling mulch up against the trunk of trees, shrubs, and other plants damages them. Properly applied mulch should taper from thin (less than 1 inch) at the base of the tree to thicker (2 to 3 inches) as you move out. To figure out how much mulch is needed for your space, visit http://www.scotts.com and use the mulch calculator under useful tools in the lower right hand corner.

Food and water

Just like humans, plants need food and water. Regular feeding and watering can help your plants thrive in hot summer weather. Make sure to water wisely. Make sure to water in the morning between the hours of 6 and 10 a.m. to reduce wind effects on sprinkler uniformity and reduce evaporation loss. Water when needed and before leaves wilt. The best way to water roots is with a soaker hose or drip irrigation system that puts moisture at soil level where it is directly available to the plants’ roots.

Dead-head and cut back

With flowering plants, be sure to dead-head the blooms when they start to wilt. This will keep the plant producing blooms much longer. Feel free to leave a few seed heads on perennials to encourage re-seeding for next year. If you have not already done so, prune early blooming shrubs and perennials to encourage new growth. You could even get an extra bloom or two out of some perennials this way.

Fill in the blanks

Even seasoned gardeners’ beds can suffer from unsightly gaps in beds this time of year. Whether some plants have been lost or early perennials and bulbs have been cut back after blooming, sometimes garden beds need a little help by mid to late summer. This is a great time to pop in some annuals for an added splash of color. Plant fresh, new annuals in-ground or in containers, and spread a bright new wave of blooms around your outdoor space. Many nurseries have a wide selection on sale now too. Just be sure to water daily until established.

Harvest

In edible gardens, it is always important to harvest fruits, vegetables, greens and herbs in a timely fashion. If you harvest more than you can possibly eat, try canning, drying or just simply sharing. Many areas of the country have food pantries that take fresh vegetable donations in the summer.

Weeds

Weeds like to move in when plants are stressed from drought and heat. Then they steal moisture and nutrients, which stresses your plants even more. If you have an overabundance of weeds creeping into flower beds and vegetable gardens, take action now. Control them by spraying Roundup Weed & Grass Killer on the weeds in your garden. Be careful not to spray the plants you like. If you accidentally spray your flowers and vegetables, wash them off immediately with water.

Hardscapes

Color

A great way to bring back those fading colors of summer and add a fresh look to the patio, porch or balcony is with new pillows or cushions. This time of year most retailers have outdoor furniture and furnishings on sale so a new color scheme isn’t necessarily out of reach. Also, add color with some fresh new containers, a splash of paint on old furniture or a new set of serving ware and napkins for a dinner party.

Lights

Lighting is always a fun way to perk up any space, especially an outdoor space. Whether adding a strand of twinkle lights around the porch, a few solar lanterns to light a path or some new candles to illuminate a dinner on the balcony, lighting can make all the difference. Recycle mason jars and wine bottles into new lanterns by filling with candles or a string of twinkle lights.

Don’t let the heat of summer destroy the garden. All is not lost when plants start to wilt; just following these few simple steps can bring new found color and interest to any outdoor space at this time of year. You might even start wishing that summer would last a bit longer.

Courtesy of BPT

Dollar cost averaging can help manage the risks of investing. Dollar cost averaging is an investment technique that involves buying equal dollar amounts of a given investment on a regular basis. Rather than investing all your money at once, making a commitment to invest a smaller amount on a regular basis can lower your average cost per unit by purchasing more units at lower prices. Talk to us about how this strategy can result in a substantial increase in the value of your investments.

Feel free to contact me or visit my website for more information.

Netflix has changed the way we binge watch TV — instead of being way behind because you are only on season three of Breaking Bad, you’re behind if you haven’t watched an entire brand new series two days after it premieres. In an effort to stay up to date, I’ve been watching the new series Orange Is the New Black, and I’m constantly amazed at the ingenuity the inmates use to make useful things out of the few items they have.

So far my favorite is the way Sophia covered her prison-issue sandals in duct tape because metallic was very in that season. Inmates transform juice packets into lip stain, make earplugs out of pillow stuffing and affix pictures to their walls with gum (do not try that one at home!) It’s actually full of inspirational lessons about working with what you’ve got at your disposal. Many Houzzers have this same talent for working with what they have around the house. Here are 17 uses for everyday items that are likely stashed somewhere in your home.

On the show, the women have to get very creative about working with what they’ve got, and sometimes trading with what they’ve got. In this scene, Piper has to trade a few chunks of her blonde locks for Sophia to use as highlights in Tasha’s hairdo. In return, she gets cocoa butter, which she mixes with chewed up peppers to create a soothing lotion for Red’s aching back, which keeps her from getting “starved out.” It’s complicated, and one must be clever about working with what’s available.

Source: Houzz.com

History shows that the relative performance of various sectors changes from year to year. More importantly, these changes are not predictable. That’s why an investor’s biggest ally is staying invested and diversifying according to their comfort level with market volatility. The chart reinforces this strategy by illustrating that sectors that are among the best one year could be among the worst the next. By diversifying across different sectors and not trying to time the next hot trend, investors can offset risks and reduce volatility by balancing exposure in both positive and negative market environments.

Feel free to contact me or visit my website for more information.

For the most part, RRSP concepts and facts are easy to understand: You regularly contribute to RRSP-eligible investments, the accumulating investment amounts are tax-deductible and tax-sheltered until you make withdrawals in retirement, and you enjoy the considerable benefits of compound growth over the longer term. Those RRSP facts are plain and simple but here are a few lesser known facts that will help you get the most from your RRSP eligible investments.

The Home Buyer’s Plan allows you to borrow from investments held in your RRSP for the purchase of your first home. You and your spouse can each borrow up to $25,000 but you can only participate in the program once and you must repay investments held in your RRSP over the next fifteen years or you’ll pay tax on any amounts not repaid.

The Lifelong Learning Plan makes it possible for you to use funds held within your RRSP to pay for training or education. If you qualify, you can withdraw up to $10,000 in a calendar year with the total withdrawal amount capped at $20,000 over a maximum of four consecutive years. You must repay within ten years to avoid penalties.

If you cease to be a resident of Canada you can still make contributions to your RRSP eligible investments using only Canadian-source earned income to calculate your contribution limit. There is a 25% withholding tax for payments to non-residents from investments held within a RRSP or RRIF but you can transfer qualifying lump-sum pension benefits or retirement allowances directly into your RRSP eligible investments without paying the withholding tax. You can also transfer funds between investments held within RRSPs without incurring a tax penalty.

In the year you turn 71 you must wind up your RRSP and take the cash, purchase an annuity or transfer the money to RRIF eligible investments, from which you will be required to withdraw annual amounts based on your age. If you are not earning much income, it might be more advantageous to start making withdrawals from your investments held within a RRSP/RRIF prior to age 71 to smooth out your taxable income in later years. After age 71, you can no longer make contributions to RRSP eligible investments for yourself but if your spouse is under age 71, you can still make contributions on their behalf.

Knowing the facts about RRSPs and RRIFs and using the right strategies will help ensure you can realize all your retirement dreams. You can get the right RRSP (and all other financial) facts and strategies from your professional advisor.

This column, written and published by Investors Group Financial Services Inc. (in Québec – a Financial Services Firm), and Investors Group Securities Inc. (in Québec, a firm in Financial Planning) presents general information only and is not a solicitation to buy or sell any investments. Contact your own advisor for specific advice about your circumstances. For more information on this topic please contact your Investors Group Consultant.

Feel free to contact me or visit my website for more information.

Anyone who has built or renovated a kitchen knows what it can feel like to make so many decisions in a very short amount of time. Educating yourself about your options beforehand can help cut down on some of that stress. Here, we take a look at sinks — specifically the choices you have when it comes to materials.

Cost, functionality and aesthetics should all weigh in when you select your sink material. For instance, you can get a well-priced stainless steel sink, but be aware of how easily it can scratch and show water marks. White fireclay or cast iron sinks are beautiful, but may require some elbow grease to stay bright and white. Integral quartz sinks are becoming increasingly popular, but they can be expensive and aren’t necessarily bulletproof.

Not sure what’s right for your kitchen? Read on to learn more about these popular material options for today’s kitchen sinks.

Stainless Steel

By far the most popular material for kitchen sinks, stainless steel sinks are heat and stain resistant and are available in a variety of types, styles and sizes. I recommend going for a brushed or satin finish rather than a mirror finish — water marks and scratches will be less noticeable. Also, look for sinks that have sound-absorbing pads on the bottom. Consumer Reports recently tested stainless steel sinks and found that these pads, rather than sound-absorbing spray or a thicker gauge of steel, performed best in reducing the noise commonly associated with stainless steel sinks.

Prices for stainless steel sinks run the gamut, but you can get a decent quality stainless steel sink for not a lot of money, making it my pick for those on a tight budget.

Cost: $100 to $800 is typical, but prices can go higher depending on gauge, size and mounting type.

Composite Granite

Composite granite sinks are my go-to sink, both for my clients and my own kitchen. They are good-looking, durable and don’t show water marks or scratches the way stainless steel sinks do. They come in a variety of neutral hues, but I prefer the darker grays, browns and black because they camouflage food filth the best. This is my own sink pictured here, and I must confess, I don’t clean it nearly as often as I probably should because it never looks dirty. Although these sinks are durable, they can crack if mishandled — I’ve heard stories of sinks being damaged during shipping. Always inspect your composite sink thoroughly before installation to make sure it suffered no trauma during transit.

Cost: $300 to $600

Cast iron

Clad in a tough enamel finish, this is another highly durable sink I recommend for white sink fans. It comes in other colors, too, but I’d suggest avoiding faddish colors for items that you want to keep around for a long time, such as your kitchen sink. Keep in mind that cast iron sinks are heavy, so make sure your cabinets are structurally sound and you provide adequate support for the sink.

Cost: $300 to $900

Source: Houzz.com