Kleinburg Private Wealth

All planning tactics are based on the 3 Cs©: convert, create, and conserve. Reducing income taxes is a special form of conserve.

Here’s what you need to know about the 3 C’s.

✅Converting wealth means selling non-income-generating assets and acquiring income-producing ones.
✅Creating wealth often involves portfolio returns. But for business owners, increasing wealth also means achieving specific business goals.
✅Conserving wealth involves managing spending and debt. It also means reducing income taxes.

There’s a major issue when working with couples: couples don’t 100% agree on their wants all the time.

Rather than managing disagreements by trying to reconcile them, in the life-planning process you acknowledge and record a couples’ different points of view. There’s no wasting time and no negative emotions.

You explain to clients that the long-term implications of their different points of view can be understood only within the context of the whole. Together, you’ll examine the financial forecast in the second planning meeting.

The life-planning process is designed to support couples in the creation of a shared vision of life.

Both oars must be in the water and pulling in the same direction. If they aren’t, the boat will go in circles—and may even capsize.

A big congratulations to Kristina de Souza who has been named as a winner of the Rising Stars Award by Wealth Professional Canada Magazine.

To uncover the most promising young professionals in the Canadian wealth management industry, the Wealth Professional team undertook a rigorous marketing and survey process. Companies were given the opportunity to nominate professionals based on their performance and achievements over the past 12 months. Nominees had to be age 35 or younger and be working in a role related to the wealth management industry. WP concentrated on those who have committed to a career in the industry and clearly hold a passion for wealth management, with a focus on new talent.

What an honour it is to be named a 5-Star Advisory Team 2022 by Wealth Professional Canada.

https://www.wealthprofessional.ca/best-in-wealth/5-star-advisory-teams-2022/367250

Happy New Years!
Did you know ... for 2022, Ontario is offering the Ontario Staycation Tax Credit

Ontario residents can claim 20% of their eligible 2022 accommodation expenses, for example, for a stay at a hotel, cottage or campground, when filing their personal Income Tax and Benefit Return for 2022. You can claim eligible expenses of up to $1,000 as an individual or $2,000 if you have a spouse, common-law partner or eligible children, to get back up to $200 as an individual or $400 as a family.
- Taken from Ontario.ca website Jan-2022

Did you know ... it is possible to transfer a U.S. IRA and 401(k) Plan to a Canadian RRSP. Under certain conditions, this could be done as a tax deferred transfer.

Did you know ... TFSA's/RRSPs/RRIFs could lose their tax protection.
After death, if an account has not been settled by the end of the "Exempt Period", the TFSA/RRSP/RRIF trust becomes taxable to the Estate of the deceased.

Lunch with Phil Taller, manager of the Mackenzie US Mid Cap Growth fund

Pics from this year's conference in Niagara Falls

Coffee and photo op with Andrew Murray from the Desjardins Overseas Equity Fund. Andrew flew in from Scotland to speak to us at the Carte2018 conference

KPW advisors had lunch with Trent Koch, a Portfolio Manager for the Desjardins Global Infrastructure Fund. We had lots of questions for Trent about using infrastructure as a separate asset class in a portfolio.

Annual Conference