Zenith Private Wealth Counsel

When working with multigenerational clients, we often suggest a Family Financial Summit—essentially a family meeting to share financial values, goals, and responsibilities. It's a valuable way to align expectations when it comes to things like inheritance, financial responsibilities, and the legacy your family wants to build. These are productive conversations that set a clear path for the future. As always, we're happy to help if you’re thinking of starting this type of conversation with your loved ones—it’s truly an investment in your family’s future.

Do your taxes give you a fright? 🎃 Even with substantial wealth, tax planning remains crucial to preserving and growing your assets. Working with a financial professional can help you build a strategy that can help keep those tax scares at bay. Consider reviewing your approach and address any potential surprises.

School is just the beginning of your education—especially when it comes to finances. Master the art of managing your money, work towards growing your wealth for the future, keep more of what you earn, and always be prepared for the unexpected. Your financial journey continues—keep learning!

Retirement – 𝙩𝙝𝙚 𝙜𝙤𝙡𝙙𝙚𝙣 𝙚𝙧𝙖 𝙮𝙤𝙪’𝙫𝙚 𝙗𝙚𝙚𝙣 𝙨𝙖𝙫𝙞𝙣𝙜 𝙛𝙤𝙧. But what happens when it’s time to start spending that hard-earned nest egg? Psychologically, it’s a huge change. For decades, you’ve trained yourself to build up assets, but now you’re expected to draw down on these funds and live your life to the fullest. First and foremost, it’s important to remember that your retirement savings were always meant to be spent. Your savings aren’t just a scorecard. They exist to help you live your best life. Travel to dream destinations, explore different cultures or indulge in hobbies and passions that were previously put on hold due to work commitments. Invest in personal growth – enroll in classes and workshops that can enrich your knowledge and skills. Remember that retirement is about more than money. It’s about the freedom to explore, to enjoy, and to live life on your own terms. After all, isn’t that what you’ve been saving for?

When you prioritize your mindset, the rest—investments, savings, budgeting—falls into place. Mindset over everything.

Inheriting an RRSP or RRIF from your spouse offers both challenges and opportunities. One significant benefit is the ability to roll over the assets tax-free into your own registered account, preserving the tax-deferred growth of your investments. However, it’s crucial to understand the rules and how these inherited funds fit into your overall retirement strategy. Thoughtful planning can help you make the most of this inheritance while working towards securing your financial future.

Every financial decision you make is impacted by emotions—whether it be fear, excitement, or even guilt. Acknowledging the emotional side of money is the first step toward making better money decisions.

What does your family wealth legacy mean to you? For some, it's around the family business, for others, it's about values and impact. We’d love to hear your thoughts! Like, share, or comment below what your wealth legacy means!

Generosity knows no bounds, and one doesn't need to be excessively wealthy to contribute generously. In today's landscape, a growing number of individuals find themselves capable of extending their financial support beyond their immediate family. However, it's essential to recognize that making a enduring commitment to a non-profit organization demands careful consideration and dedication of time and effort.

Optimizing your RESP and TFSA strategies can significantly enhance your financial planning. By fully utilizing government grants and considering flexible options for leftover RESP funds, you can ensure your savings are effectively working towards your family’s future. Let’s explore how to tailor these strategies to your specific goals.