Archive for the 'Special Commentaries' Category

JAN 20 2020 – 2019 RRSP & 2020 TFSA CONTRIBUTIONS REMINDER

This is as a friendly reminder of the contribution limits and cut-off dates for RRSP and/or TFSA contributions.

RRSP Contributions:

The cut-off date for your RRSP contributions to count toward reducing your income for 2019 is Monday, March 2nd, 2020. In order to meet this deadline, you should make your contribution by February 25th to allow for your deposit to clear your bank account. The 2019 contribution limit was 18% of your taxable income up to a maximum of $26,500, whichever is less. The 2020 contribution limit is $27,230. If you have unused contribution room from previous years, you may contribute more than the maximum, but one needs to be careful not to over-contribute.

TFSA Contributions:

If you would like to contribute to a TFSA for 2020 the limit is $6,000 for the year, unless you have not maxed out your contributions. The maximum one could have deposited into their TFSA account since 2009 is $69,500 as of 2020.

Contributions can be made through one of the following methods:

Transfer from Non-Registered Account: If you have a Non-Registered account set-up with enough funds in it, you can simply send us an e-mail indicating the amount you would like transferred from this account to your RRSP or TFSA. Instructions must be sent to us by 11:00am on Tuesday, February 25th in order to meet the deadline.

Online Banking Transfer (Bill Payment): Add your Custodian (“Credential Securities” or “National Bank Financial”) as a “Payee” through your online banking and enter your account number as the bill account number. If you need assistance finding your account number or are unsure who your Custodian is, please contact our office. If you choose this method, please also notify us with the amount you are contributing, so we can have your Portfolio Manager watch for it. Please note this must be submitted before midnight on Saturday, February 29th in order to meet the deadline.

EFT from your Bank: You will just need to sign an EFT form if you have not already done so, which allows your Custodian (Credential or NBIN) to take the money directly out of your account with your consent. Once you have signed the form, we will just require an email from you indicating the one-time amount you are authorizing them to withdraw from your bank account and which account you would like it deposited to. We must receive these instructions by Friday, February 28th at 3:00pm at the latest in order to process in time.

If you have any questions or would like to book an appointment to review your accounts, please contact our office at 780-490-4200.

JAN 15 2020 – KID’S FINANCIAL EDUCATION PROGRAM POST-SECONDARY TOPIC 5

Please find the material below for the fifth topic in our financial education program for post-secondary students:

For Parents: Post-Secondary Topic 5 (Are Credit Cards a Bad Idea)

Resources for Students:

  1. Globe and Mail Article ‘Credit card crash lesson for students bound for university, college’: View on Website
  2. Government of Canada Credit Card Payment Calculator: View on Website
  3. Article ‘6 habit to help you use your credit wisely’: View PDF
  4. Article ‘Basic tips to use credit cards wisely’: View on Website

 

JAN 3 2020 – KID’S FINANCIAL EDUCATION PROGRAM AGES 13-17 TOPIC 4

Please find the material below for the fourth topic in our financial education program for children ages 13-17:

For Parents: 13-17 Topic 4 (Investing)

Resources for Students:

1. Biz Kids Episode ‘How to turn $100 into $1,000,000’: View on Website

2. Scholastic Article ‘Stocks and Bonds’: View on Website

3. Blackburn Davis Financial Video ‘Introduction to Dividend Investing’: View on YouTube

 

DEC 9 2019 – BDF 2019 HOLIDAY HOURS

Happy Holidays!

Please note our office will be closed for Christmas Holidays this year from Monday, December 23rd, 2019 at 4:00pm through Wednesday, January 1st, 2020. We will also have reduced staff working in our office beginning Friday, December 20th, 2019 through Friday, January 3rd, 2020.

As a friendly reminder, if you have any upcoming requests, please send them to our team by Wednesday, December 18th, 2019 to ensure we can process them before the Holidays. If anything should come up during the dates we are closed, our advisors are still available via email and cell phone.

We will resume our regular business hours at 8:00am on Thursday, January 2, 2020.

On behalf of our entire team at Blackburn Davis Financial, we wish you and your family a very Merry Christmas and a Happy New Year!

NOV 29 2019 – KID’S FINANCIAL EDUCATION PROGRAM AGES 9-12 TOPIC 4

Please find the material below for the fourth topic in our financial education program for children ages 9-12:

For Parents: 9-12 Topic 4 (Exploring the Entrepreneurial Spirit)

Resources for Kids:

  1. Warren Buffett’s Secret Millionaires Club Webisode ‘Walkin’ the Dog’: View on YouTube
  2. Mr. Cory’s Cookies ‘Our Story’: View on Website
  3. Me & the Bees Lemonade ‘About Us’: View on Website

 

NOV 18 2019 – KID’S FINANCIAL EDUCATION PROGRAM POST-SECONDARY TOPIC 4

Please find the material below for the fourth topic in our financial education program for post-secondary students:

For Parents: Post-Secondary Topic 4 (What is an Emergency Fund)

Resources for Students:

  1. Vanguard Article ‘What’s the Right Emergency Fund Amount?’: View on Website

 

NOV 5 2019 – KID’S FINANCIAL EDUCATION PROGRAM AGES 13-17 TOPIC 3

Please find the material below for the third topic in our financial education program for children ages 13-17:

For Parents: 13-17 Topic 3 (What’s the Cost)

Resources for Students:

  1. Media Smarts Article ‘Talk to Kids about Advertising – Tip Sheet’: View on Website
  2. Biz Kids Episode ‘You are the Target!’: View on Website
  3. Becoming Minimalist Blog Article ‘ We Don’t Buy Things with Money, We Buy Them with Hours from our Life’: View on Website

 

OCT 29 2019 – KID’S FINANCIAL EDUCATION PROGRAM AGES 9-12 TOPIC 3

Please find the material below for the third topic in our financial education program for children ages 9-12:

For Parents: 9-12 Topic 3 (What is Investing)

Resources for Children:

  1. CashVille Kidz Episode ‘Saving vs. Investing’: View on YouTube
  2. Warren Buffett’s Secret Millionaires Club Webisode ‘The Real Skinny’: View on YouTube
  3. Google Finance: View on Web

 

OCT 15 2019 – KID’S FINANCIAL EDUCATION PROGRAM POST-SECONDARY TOPIC 3

Please find the material below for the third topic in our financial education program for post-secondary students:

For Parents: Post-Secondary Topic 3 (Small Decisions, Big Impact)

Resources for Students:

  1. University of Alberta Article ‘Decision Making & Spending’: View on Website
  2. MacLean’s Article ‘How Canadian University Students can save for a year of
    travel’: View on Website

 

OCT 7 2019 – KID’S FINANCIAL EDUCATION PROGRAM AGES 13-17 TOPIC 2

Please find the material below for the second topic in our financial education program for children ages 13-17:

For Parents: 13-17 Topic 2 (Savings Goals)

Resources For Students:

  1. Canadian Savings Calculator: View on Website
  2. Bank of America Article ‘Teen Guide: 5 Steps to Saving for Something You Really Want’: View on Website
  3. SwissLife Article ‘The Saving Habits of the Young’: View on Website