How much of their salary do NHL players keep? In my article – how do pro athletes go broke – I highlighted that a leading cause of some high-income earning athletes experiencing financial trouble occurs because they don’t have a firm understanding of how much money they actually make. Just because TSN reports that an…
One of the biggest issues with an RRSP is the tax bomb it can create. We first go over the Canadian tax system to understand why this tax bomb can happen and then a strategy on how to avoid it! Looking for more? Download your 20 Retirement Tips: Your Complete Guide today! “Tons of information,…
What is a reverse mortgage Where were you when you first heard the term reverse mortgage? If you’re like me, it was through a cheezy commercial on day time TV. Because of this, I was always skeptical of these products, and I wasn’t the only one. Whenever I would bring it up with someone, I…
As the saying goes – there are only two certainties in life: death & taxes. Playing professional hockey provides numerous perks in life, however avoiding taxes is not one of them. Undoubtedly, your tax bill as a pro hockey player will be your largest expense and can create a massive discrepancy between what your contract…
How Does Escrow Work? Escrow is a word you’d like never to hear again if you’re an NHL player, and I don’t blame you. However, it can substantially affect your income, so it is important to understand how it works and plan accordingly. Here is a summary of how the NHL escrow system functions: …
Are All Financial Advisors the Same? The 3 Types When choosing a financial advisor, it can be challenging to differentiate between all available options. They all say: “I’ve been doing this for X years, and my returns have been stellar.” But what else should you be considering beyond returns? While all advisors have something to…
Gifting the Farmland In this week’s video we review the different ways you can gift farmland to your children along with the pros and cons of both methods. Looking for more? Download your Farm Transition Guide Today! Farm Transition Guide A must read for anyone starting their farm transition Please enable JavaScript in your…
4 Things you can do to help your grandkids today Traditionally, inheritances have been passed on to the next generation, but as Canadians are living longer than ever, that train of thought is changing. Many people realize that if they live into their early 90’s, that means their kids will likely already be retired. Because…
Investment Strategies for NHL Players You’re playing in the NHL, so naturally you’re making a lot of money at a relatively young age. The average person will work for 25-30 years, and slowly increase their income as they get older. In contrast, an NHL career averages only 5 years, and is highly lucrative in that…
Should I Be Buying RRSPs? The answer to that question is going to depend on a few different factors. This latest video can help you understand whether or not investing in RRSPs is the right decision for you. Looking for more? Download your 20 Retirement Tips: Your Complete Guide today! “Tons of information, all in…