Common investment can help individuals save money for their future financial goals. It can provide security and peace of mind knowing that money is set aside specifically for retirement or other long-term goals.

Take advantage of a discounted market and the additional $6,500 TFSA contribution room for 2023, and maximize your tax savings for your 2022 income by contributing to an RRSP account.

If you know how much you would like to contribute to your TFSA and/or RRSP accounts, please email us, and we will initiate the contribution after we reach out to you. If you would like more information or have any questions, we can book a quick phone meeting. Markets are discounted and it is a great time to get in and capture higher long-term growth!

Please email admin@westgroupfinancial.com or call us at (604) 588-9688 to schedule an appointment with one of our advisors for all of your Investment, Insurance, and Estate Planning needs.

At the beginning of your investment journey, it is possible to be overwhelmed with a lot of advice from various books, videos, and content creators. You may find various articles or videos on the best stocks for options trading, the best short-term investment options, and various other catchy titles that give you investment tips. However, this isn’t the way to approach investing if you want to be successful in the long run on your own.

Westgroup Financial Management Inc. wishes you and your family a wonderful Holiday Season, and a happy, healthy, and peaceful New Year 2023!

If you are new to investing and aspects like financial planning and wealth management, you may have several questions and doubts about the industry. These may pertain to risks, costs, and your overall financial health. To clear your confusion and arm you with the information you need to make the right decisions, Westgroup Financial Management Inc. has answered some of the most frequently asked questions about estate planning. These answers are based on our experience so that you have first-hand information that gives you the power.

Investment planning is the process of matching your financial goals and objectives with your financial resources. Having one without the other is impossible as it’s an essential element of financial planning.

Through the lockdowns and the changes taking place, people were unsure about the processes that they were getting into. However, one thing that stayed constant is that they wanted assistance when it came to getting through many of the processes. Businesses and companies would make sure that they were getting assistance wherever they could so they could spend their time and effort working on something that made sense to them.

Many investors have heard about mutual funds and the wealth potential they have as an investment. However, very few know about segregated funds and their unique features. Like mutual funds, segregated funds are pooled investments. They combine the money of many investors, creating economies of scale and giving you access to investment opportunities that might not be available otherwise. As experts in the field, we at Westgroup Financial Management Inc have written down information that will help you decide if you need to go the mutual fund or the segregated fund way. 

Are you planning to retire within the next few years? Then it’s time to initiate certain actions to ensure a secure and financially stable retirement whilst enjoying life. You need to start by reviewing your finances to ensure your future income will allow you to enjoy the lifestyle you want. Your preliminary decisions of planning ahead will allow you to be more equipped to handle retirement in a successful and enjoyable manner.

Investing in financial markets is one of the quicker ways to build long-term wealth. Over time, your investment is likely to earn solid returns and beat inflation. However, not every investment idea is a good one, and if you aren’t paying attention to what you’re doing, your mistakes could prove costly. Know that successful investment is not merely about selecting the right stocks, but it’s where one must also avoid common errors that might undo all the hard work put in previously.

Westgroup Financial Management Inc. wishes you and your family a wonderful Holiday Season and a happy, healthy, and peaceful New Year 2022!

Investing in index funds has long been considered one of the smartest investment moves you can make. Index funds are affordable, enable diversification, and tend to generate attractive returns over time. Historically, index funds outperform other types of funds that are actively managed by top investment firms.

Original Article Source Credits: Advisor's Edge, https://www.advisor.ca/

Article Written By: Jamie Golombek 

Original Article Posted on: 11th May 2021

Link to Original Article: https://www.advisor.ca/tax/tax-news/instalment-payments-for-clients-who-owe-taxes/

Original Article Source Credits: Advisor's Edge, https://www.advisor.ca/

Article Written By: Staff, Canadian Press

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Link to Original Article: https://www.advisor.ca/tax/tax-news/government-to-reimburse-self-employed-workers-who-repaid-cerb/

Original Article Source Credits: Financial Post, https://financialpost.com/

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Link to Original Article: https://financialpost.com/personal-finance/taxes/death-taxes-and-your-rrsp-what-you-need-to-know-to-minimize-the-tax-hit-to-your-estate

Original Article Source Credits: Money Under 30, https://www.moneyunder30.com/

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Original Article Posted on: 27th May 2021

Link to Original Article: https://www.moneyunder30.com/tests-required-for-life-insurance

Original Article Source Credits:   Government Of Canada , https://www.canada.ca/

Article Written By:  NA

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Link to Original Article:  https://www.canada.ca/en/revenue-agency/services/tax/businesses/small-businesses-self-employed-income/checklist-small-businesses.html

Original Article Source Credits:   Money Sense , https://www.moneysense.ca/

Article Written By:  RENEE SYLVESTRE-WILLIAMS 

Original Article Posted on:   MARCH 30, 2021

Link to Original Article:  https://www.moneysense.ca/spend/insurance/life-insurance/short-term-disability-insurance-canada/

Original Article Source Credits:   Financial Post , https://financialpost.com/

Article Written By:  Juliette Baxter

Original Article Posted on:  April 27, 2021

Link to Original Article:  https://financialpost.com/moneywise/heres-what-to-do-when-term-life-insurance-expires

Original Article Source Credits:   CPA Canada , https://www.cpacanada.ca/

Article Written By:   SOPHIE NICHOLLS JONES

Original Article Posted on:  5.6.2021

Link to Original Article:  https://www.cpacanada.ca/en/news/canada/2021-05-06-couples-retirement-equalizing-incomes