In this episode of Think Smart with TMFG, Mike Connon and John Iaconetti, Financial Advisors at The McClelland Financial Group of Assante Capital Management, discuss common estate planning mistakes and practical strategies for Canadians. They explore why having a properly structured will, appointing executors, and setting up powers of attorney are critical for a smooth estate transfer and for protecting your family.

They also highlight the risks of dying without a will, including the government dictating how assets are distributed, potential family disputes, and delays caused by non-liquid assets, like cottages or other properties. They emphasize the importance of beneficiary designations, insurance strategies, and ensuring liquidity in your estate to manage taxes and unexpected costs efficiently.

Ultimately, they stress the importance of documenting decisions and communicating with family members to prevent ambiguity, safeguard relationships, and alleviate stress for loved ones. They explain that a will and a power of attorney are separate tools, each with specific roles, and that acting while in full capacity is essential to avoid future complications. Careful estate planning is not just about money; it’s about protecting your family, preserving your legacy, and ensuring peace of mind.

If you would like guidance on creating an estate plan tailored to your specific situation, please request a meeting here: Schedule your meeting here.

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In this episode of Think Smart with TMFG, Mike Connon and Carlo Cansino, Senior Financial Advisors at The McClelland Financial Group of Assante Capital Management, explore practical strategies for Canadians approaching retirement. They highlight the challenges many retirees face, including navigating pensions and government benefits, as well as planning for unexpected expenses.

Mike and Carlo discuss the decline of traditional defined benefit plans and emphasize the importance of supplementing public pensions, such as CPP and Old Age Security, with personal savings and tax-advantaged accounts, including RRSPs and TFSAs. They also explain how timing decisions, like deferring CPP or OAS, can significantly boost retirement income, and how sharing benefits with a spouse can help manage household taxes.

Unexpected costs are a common source of stress for retirees, including everything from home maintenance and condo assessments to healthcare expenses, such as dental work. Finally, they address the misconception that retirees should drastically reduce their equity exposure. Since inflation affects retirement expenses, maintaining growth-oriented investments is crucial to ensure your portfolio keeps pace over a long retirement horizon.

Ultimately, they emphasize that retirement planning is dynamic: your plan should evolve in response to life changes, while keeping you prepared for unforeseen expenses, thereby helping you retire with confidence and peace of mind.

If you want guidance on creating a retirement plan tailored to your goals, request a meeting here: Schedule your meeting here!

Read the article: "In Your 50s and Thinking About Retirement, What to Know” by Financial Advisor Ingrid Kucera at TMFG, and learn how to turn your retirement savings into a dependable income strategy that supports your long-term goals with confidence.

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In this episode of Think Smart with TMFG, Mike Connon and Carlo Cansino, Senior Financial Advisors at The McClelland Financial Group of Assante Capital Management, dive into practical strategies for Canadians who want to invest smarter without getting caught up in market hype. They emphasize that long-term success isn’t about chasing the latest hot stock or sector; it’s about having a clear, goal-based financial plan that guides every decision.

They break down why diversification across sectors, asset classes, and geographic regions is essential, and how regular portfolio rebalancing helps you stay on track and maintain your risk tolerance. Mike and Carlo also discuss common investor pitfalls, from fear of missing out to reacting emotionally to short-term market swings and explain how a disciplined plan helps you stay focused during volatile times.

Finally, they share insights from research showing that investors who adhere to written, goal-based plans are significantly more likely to achieve their long-term objectives.

For more in-depth guidance on how investor behaviour impacts wealth, check out Tyler Robertson’s Financial Advisor at TMFG, article on our website: Stay Out of Your Own Way To Be a Successful Investor

If you want help creating a plan that aligns with your goals and keeps you on track through market fluctuations, request a meeting here: https://tmfg.ca/schedule/

Follow us on our social channels:

Linkedin: The McClelland Financial Group

Facebook: https://www.facebook.com/tmfg.ca

Instagram: instagram.com/themcclellandfinancialgroup_/