Building Wealth with Brett

A $3000 monthly pension index at 2% could grow to roughly $5400 a month over 30 years. That inflation protection in any survivor benefit may be valuable retirement income you give up when choosing a pension lump sum.

Before taking the commuted value, compare the full pension package: index, lifetime, income, Survivor, benefits, investment risk, taxes, and longevity. The headline lump sum does not tell the whole story.

Would you value a larger lump sum today or protect monthly income for life? Tell me in the comments.

$650,000 looks bigger than $3000 per month.

But your brain is playing a trick on you.

If you’ve ever compared a lump sum to income, save this, this is the mindset shift people miss.

One is a pile of money. The other is a stream.

And those are not the same thing.

We confused big number with better deal all the time and that mistake can cost you.

What are you choosing: the big check or the steady cash flow?

💰 #ᴡᴇᴀʟᴛʜʙᴜɪʟᴅɪɴɢ

A $650,000 pension commuted value does not mean $650,000 simply lands in your bank account. Depending on pension transfer limits and your available RRSP contribution room, part of the lump sum may become taxable immediately.

Before choosing a pension lump sum over monthly income, understand the locked-in transfer, taxable cash portion, RRSP room, withholding tax, and the long-term retirement plan for the money.

Would the potential tax bill change your pension decision? Tell me in the comments.

A family without a plan is like a team without a named captain.

Everything works—until a difficult decision has to be made.

Then everyone assumes they’re in charge, voices get louder and nobody knows who has the final say.

The same thing happens with family wealth. Everything may seem fine until money moves through:

• An inheritance
• A business sale
• A trust or estate
• A shared family property
• A major investment decision

Don’t wait for decision time to determine who makes the call.

Define roles, responsibilities and decision-making authority before the pressure arrives.

Save this post and start the conversation with your family.

Money doesn’t create family conflict—it reveals it.

Trusts, legal agreements and court orders can establish structure. But they can’t resolve every unspoken assumption, old resentment or disagreement about who controls what.

Those issues often surface when real money changes hands:

• A business is sold
• An inheritance is received
• A longtime family cottage changes ownership
• Control of family assets must be decided

The dollar amount might be modest, but the emotional stakes can feel enormous.

Don’t assume everyone will “figure it out.” Discuss expectations, responsibilities and decision-making before a major financial event forces the conversation.

Save this post and share it with someone planning a family wealth transition.

WealthTransfer SuccessionPlanning

A severance cheque can create a dangerous illusion.

Your regular paycheque has stopped—but suddenly, your bank account looks healthier than usual. That temporary sense of security can lead to major decisions:

• Paying off the mortgage
• Investing the entire payment
• Buying a vehicle
• Starting a business
• Making a large RRSP contribution
• Taking a pension’s commuted value
• Helping family
• Taking several months off

Any of these choices might be reasonable. The mistake is making one before understanding your new financial runway.

First, calculate how long your severance must support you. Then decide what the money can safely do.

Save this post before making your next move.