The Greenard Index

Kevin Greenard

Kevin Greenard, CPA CA FMA CFP CIM, is a portfolio manager and director of wealth management with the Greenard Group at Scotia Wealth Management in Victoria. His column appears every week in the Times Colonist.

Kevin Greenard: Opening up your wallet to help your children purchase their first home

We have had many discussions with our clients about whether or not to financially assist their adult children with purchasing a home. Some feel that if they help their children, by giving them . . .

Kevin GreenardNovember 15, 2019
Kevin Greenard: Holding your child's hand when they purchase their first home

Financial success often involves making good decisions and avoiding big mistakes. Parents who spend the time to teach their children the basics of finances will help start them off on a more . . .

Kevin GreenardNovember 8, 2019
Kevin Greenard: Coming up with the down payment for your home

Last week, we encouraged those individuals interested in purchasing either a condo or a single-family dwelling to understand the financial numbers and to set goals. I have heard many people say . . .

Kevin GreenardNovember 1, 2019
Kevin Greenard: Buying your first home — know the numbers

One of the most rewarding investments is the purchase of a principal residence. Getting away from paying rent and building equity can be a significant financial step in the right direction. Many . . .

Kevin GreenardOctober 25, 2019
Kevin Greenard: Tax-loss selling might reduce your tax bill

As we enter the last quarter of 2019 it is time to look at whether tax-loss selling makes sense for your portfolio. During a positive year, several rebalancing trades may have occurred resulting in. . .

Kevin GreenardOctober 18, 2019
Kevin Greenard: Who cares for your pet after you pass?

About 15 years ago, I had a client with a terminal illness. Her biggest concern wasn’t about her own health, but rather who was going to take care of her dog after she died. I hadn’t really . . .

October 11, 2019
Kevin Greenard: Taking care of aging parents and their finances

Over the years, we have helped clients overcome many different challenges. This article focuses on the challenges of looking after our parents as they age. This is a complex responsibility as it . . .

Kevin GreenardOctober 4, 2019
Kevin Greenard: Memorandum to distribute personal and household effects

Your will is essentially a document that outlines what you want done with your assets after you pass away. The term asset is very broad and can include everything from personal and household . . .

Kevin GreenardSeptember 27, 2019
Kevin Greenard: Helping your executor with your digital footprint

One of the first roles of an executor of a will is to gather and secure their client’s assets. This process includes ensuring the principle residence is locked and all known assets are secured. . . .

Kevin GreenardSeptember 20, 2019
Kevin Greenard: Understanding what flows through your estate

At every stage of our client’s lives, we feel they should have an up to date will. Unforeseen events can happen and planning is essential to ensure your assets and estate are distributed . . .

Kevin GreenardSeptember 13, 2019
Kevin Greenard: The stock market through 90 years of concern and fear

Ever since the stock market was first introduced, investors have been concerned about declining markets. It’s only natural. In fact, there hasn’t been a single year since the Great Depression . . .

Kevin GreenardSeptember 6, 2019
Kevin Greenard: Updating your list of key contacts

We begin every meeting with our clients by reviewing a summary sheet of key macro items we believe are important for the client to either understand or communicate to us. We provide new clients . . .

Kevin GreenardAugust 30, 2019
Kevin Greenard: Equities often have higher yields than fixed income

Fixed income is often used to describe a category of investments that provide investors with income that one purchases to receive income. Some examples of fixed-income investments include Canada . . .

Kevin GreenardAugust 23, 2019
Kevin Greenard: Receiving financial information on your investments

As an investor, you may be receiving information in the mail about companies in which you have invested. You may be quite happy with that arrangement, but if you are not, rest assured there is . . .

Kevin GreenardAugust 16, 2019
Kevin Greenard: Time management helps with work-life balance

Getting the most out of your day involves a significant amount of organization and goal setting. Working on your big-picture goals may take some time. Sometimes you have to stop everything you’. . .

Kevin GreenardAugust 9, 2019
Kevin Greenard: The snowball effect on net worth

Over the years I’ve had many people ask me for advice for someone wanting to improve their financial position. Below are a few of the concepts of how people generate wealth over time. These may . . .

Kevin GreenardAugust 2, 2019
Kevin Greenard: Placement of investments in registered, non-registered accounts

All income and growth within Registered Retirement Savings Plans (RRSPs) and Registered Retirement Income Funds (RRIFs) are tax deferred. Tax will only apply when amounts are withdrawn from these . . .

Kevin GreenardJuly 26, 2019
Kevin Greenard: The Greenard Group’s 10 principles for picking stocks

Over the years I have been asked several times how we pick our stocks. The process for picking stocks really begins with our overall investment philosophy. All decisions are made in the context of . . .

Kevin GreenardJuly 12, 2019
Kevin Greenard: Inheritance enhances retirement and estate plan

Over the years we have helped new clients and existing clients deal with inheritances. In the majority of cases the inheritances are coming from parents. These can be done upon the parent’s . . .

Kevin GreenardJuly 5, 2019
Kevin Greenard: Rebalancing helps manage risk

Wouldn’t you love a strategy of selling high and buying low? Naturally we have the tendency to want to let our winners run without taking profits. On the flip side, a good stock might be going . . .

Kevin GreenardJune 28, 2019
Kevin Greenard: Managed accounts provide piece of mind

A managed account is a broad term that has been used in the financial-services industry to describe a certain type of investment account where a portfolio manager has the discretion to make changes. . .

Kevin GreenardJune 21, 2019
Kevin Greenard: Portfolio manager can react quickly to market changes

Many people do not feel they have the knowledge to best manage their own money. Some have the knowledge but they do not have the time. Both portfolio managers and Wealth advisers can assist . . .

Kevin GreenardJune 14, 2019
Kevin Greenard: Fee-based accounts benefit to investors in the long run

A fee-based account is where a fee is charged based on the market value of the assets being managed. This is distinctly different than a transactional account, where commissions are charged for . . .

Kevin GreenardJune 7, 2019
Kevin Greenard: Act today to minimize a massive final tax bill

Taxpayers, naturally, are fixated on trying to minimize tax in the current year. This is a classic scenario of someone not being able to see the forest for the trees. The forest is your ultimate . . .

Kevin GreenardMay 31, 2019
Kevin Greenard: Enhancing financial growth through re-investment

Not everyone who purchases investments wants or needs the income today. Many clients are trying to grow a nestegg to fund a future goal, such as retirement. Investors who are not requiring income . . .

Kevin GreenardMay 24, 2019
Kevin Greenard: Measuring your tolerance for volatility and risk

People are often told not to invest in equity markets unless they have a long-term time horizon. While for some people one to two years might seem like a long time, most investment professionals . . .

Kevin GreenardMay 17, 2019
Kevin Greenard: Online access and paperless options becoming more mainstream

Computers, phones and tablets have all become mainstream in today’s modern households. The thirst for current knowledge in a busy mobile world has never been greater. More than ten years ago, . . .

Kevin GreenardMay 10, 2019
Kevin Greenard: Protecting client information is critical in a digital world

Today there are many different ways for us to communicate financial information with clients: in-person, over the phone, email and so on. With all of these ways to communicate, it is important for . . .

Kevin GreenardMay 3, 2019
Kevin Greenard: Looking at total rate of return rather than yield alone

Yield is essentially the income an investment will pay, such as interest or dividend payments, and is normally expressed as a percentage. Yield will fluctuate on equity investments based on the . . .

Kevin GreenardApril 26, 2019
Kevin Greenard: It’s tough to get it right on both sides of the equation

During the last quarter of 2018, the TSX/S&P Composite declined 10.11 per cent on a total return basis while the first quarter of 2019 the TSX/S&P Composite posted gains of 13.27 per cent . . .

Kevin GreenardApril 19, 2019
Kevin Greenard: Asset mix should be tied to cash-flow needs and market conditions

The term asset mix refers to the portion of your investments that are held in cash, fixed income, and equities. Asset mix has historically been touted as the most important decision with respect to. . .

Kevin GreenardApril 12, 2019
Kevin Greenard: The benefits of consolidating investment accounts

In the last 10 years, there have been a number of changes to investments and regulations. Many of these changes have an impact on your financial plan and tax situation. All firms have been spending. . .

Kevin GreenardApril 5, 2019
Kevin Greenard: The rewards of investing outside of Canada

Seeking out the best risk adjusted returns for clients involves allocating investment dollars outside of Canada. For over a decade we have been educating clients on the benefits of investing . . .

Kevin GreenardMarch 29, 2019
Kevin Greenard: A spring break refresher on RESPs

Parents and grandparents, who typically set up Registered Education Savings Plans (RESPs), are referred to as the “subscriber.” The children or grandchildren are referred to as the “beneficiary” of. . .

Kevin GreenardMarch 22, 2019
Kevin Greenard: It’s tax time — will you do it yourself, or hire a professional?

In 1988, I got my first job working at an accounting firm. It was a great year to start in the accounting world as most clients were still doing everything manually. Individual tax packages could . . .

Kevin GreenardMarch 15, 2019
Kevin Greenard: Do you need to make income tax instalment payments?

Twice a year, Canada Revenue Agency sends out instalment reminder letters to those taxpayers who are required to make payments. The February letter outlines the required payments on, or before, . . .

Kevin GreenardMarch 8, 2019
Kevin Greenard: When to stop contributing to an RRSP

Most articles are written about “contributing” to an RRSP. This one highlights that many people should either avoid RRSPs or stop contributing to them. Going a step further, calculations should . . .

Kevin GreenardMarch 1, 2019
Kevin Greenard: Many couples should consider spousal RRSPs

For couples that make approximately the same annual income, a spousal RRSP may not be necessary. The greater the disparity between incomes with couples, the more important it is to consider spousal. . .

Kevin GreenardFebruary 22, 2019
Kevin Greenard: Investment options within your RRSP

The key word in Registered Retirement Savings Plan is savings. The government allows Canadians to defer up to 18 per cent of the previous years earned income, up to a maximum of $26,230 for the . . .

Kevin GreenardFebruary 15, 2019
Kevin Greenard: 50 questions to consider before making an RRSP contribution

An RRSP could be an important vehicle in reducing the amount of tax you pay in your lifetime. However, an RRSP may not be for everyone. Last week, we reviewed marginal tax brackets and took a . . .

Kevin GreenardFebruary 8, 2019
Kevin Greenard: The mathematical approach to RRSP contributions

The Income Tax Act allows you to contribute up to 60 days after the end of the year to your RRSP. For the 2018 tax year, the last day to contribute is Friday, March 1. This 60-day buffer gives . . .

Kevin GreenardFebruary 1, 2019
Kevin Greenard: Linking family accounts has many benefits

Within financial services, the term family is referred to as a household. A household used to be defined as those people who resided at the same address, but now extends beyond a single physical . . .

Kevin GreenardJanuary 25, 2019
Kevin Greenard: Understanding TFSA beneficiary terminology

The Tax Free Savings Account (TFSA) is a registered account. One of its features is the ability to name a beneficiary. When we are opening a TFSA for a client, they must advise us who they would . . .

Kevin GreenardJanuary 18, 2019
Kevin Greenard: Strategies help contribute to your TFSA early

Last week we mentioned the Tax Free Savings Account contribution limit was increased to $6,000 for 2019. Contributing early on, say this month, isn’t always easy. Holiday bill payments, . . .

Kevin GreenardJanuary 11, 2019
Kevin Greenard: TFSA limit increased to $6,000 for 2019

The Tax Free Savings Account turns 10 this month and many Canadians have fully embraced the benefits that come from tax-efficient investment income and growth within these accounts. The federal . . .

Kevin GreenardJanuary 4, 2019