Clement Chung, CFP, CLU | Fee-based Financial Advisor

Spoiling the Grandkids

Dec 31, 2018
3 min

Spoiling the Grandkids

How to be a generous grandparent while also being financially prudent. Most grandparents agree – having grandchildren is one of the most fulfilling experiences in life. Loving grandparents undoubtedly want to ensure their grandkids want for nothing, but it can be easy to get carried away. From toys to clothing to school supplies and entertainment, the costs can really add up – and may even impact retirement savings if not managed carefully. If you are a doting grandparent, he

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For love and money

Dec 28, 2018
2 min

For love and money

Talking about money in a new(ish) relationship. Growing into a relationship is partly about discovering the things two people have in common – from favourite activities and hobbies to shared attitudes and beliefs. And, while it may not be one of the first subjects to come up, the topic of money is bound to surface as a relationship gets more serious. Here are some things to consider when beginning to talk about money in a relationship. Timing Every romantic partnership is uni

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Christmas is Expensive.

Dec 26, 2018
3 min

Christmas is Expensive.

Useful tips to not Scrooge yourself during the festive season. Buying the perfect gifts, hosting glorious parties and seeking out amazing memory-making family adventures can make for a magical holiday experience. But it can also leave many household budgets stretched to the max. All that merrymaking can quickly lead to financial pain when credit card bills start rolling in. In a 2017 survey, nearly two-thirds of respondents felt that holiday spending was out of control, with

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Protecting Your Special Need's Child

Dec 24, 2018
4 min

Protecting Your Special Need's Child

Financial planning for special needs children: How to support their care for a lifetime. Most families are concerned about planning for their children’s financial futures, but for families with special needs children, financial planning strategies have a different and often more complex dimension. The cost of supporting an individual with special needs adds up quickly – from therapies, medical equipment and special programs to caregiver support and transportation. While the e

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Why Do I Owe Taxes?

Dec 21, 2018
4 min

Why Do I Owe Taxes?

The value of my investment is lower – so why do I have a tax bill? It’s something that puzzles investors every tax season: they have an investment in a mutual fund or segregated fund contract that declined in value between January 1 and December 31, and yet they’ve received a tax slip listing taxable interest, dividends or capital gains. There’s a straightforward reason for the tax slip: the fund has either received income (interest or dividends) from its underlying investmen

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Time for a Career Change?

Dec 19, 2018
6 min

Time for a Career Change?

Managing the financial impact when you change paths. When Workopolis recently asked Canadians how many career paths they had followed, just one in four replied “one.” A clear majority had switched directions at some point – whether because they had discovered a new field they felt passionate about, or because they hit roadblocks such as alack of advancement, cutbacks or layoffs. So, if you are contemplating a career change, you’re not alone. And whether a leap into another pr

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The Next Chapter: Exiting The Business

Dec 17, 2018
3 min

The Next Chapter: Exiting The Business

Whether a business is at the stage of attracting investors, or an owner is considering handing the business off to pursue other opportunities or retire, having a formal written succession plan is essential for business owners. A recent study found that close to 60 per cent of Canadian small and medium-sized business owners are age 50 or older, and close to 40 per cent plan to exit their business within the next five years. The majority of those surveyed cited retirement as th

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