In this brief 3-minute video, our Head of Financial Life Strategies, Monique Madan CFP, gives you a look ahead to some important tax considerations for 2023.
Even Albert Einstein, a man with a brain capable of solving the most complex physics equations, stumbled when it came to taxes. “The hardest thing in the world to understand,” he said, “is the income tax.”
Building wealth must be about more than just seeing a larger number on your investment statement each year. Wealth translates into life satisfaction when it has a purpose.
Investing money at its most basic is just delayed consumption. Putting $250 away versus buying another pair of shoes simply means you can buy those shoes at some point in the future. It makes sense then that the baseline goal of investing is to protect the purchasing power of your money.
Slaving over a hot computer, putting in extra hours over the weekend… many pre-retirees are driven by a fear of the future. What if I don’t have enough money saved? What if I outlive my investments? Maybe I’ll just tap away for another two years to ensure my family are secure.
Maya Angelou, it turns out, was not just a poet and philosopher for the ages. The literary legend was also a savvy client who fired more than one financial advisor she deemed guilty of either talking down to her or ignoring her socially responsibly investment requests1. She may not, as she admitted, have understood the markets but she certainly understood her value.
ETF Capital Management and Q Wealth Partners are registered trade names of Quintessence Wealth, a registered Portfolio Manager in Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Nova Scotia, Ontario, Prince Edward Island, Quebec, and Saskatchewan, an Investment Fund Manager in Newfoundland and Labrador, Ontario, and Quebec, and an Exempt Market Dealer in Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Nova Scotia, Ontario, Quebec, and Saskatchewan. The Ontario Securities Commission (OSC) is the principal regulator for Quintessence Wealth. Please visit www.qwealth.com for more information.
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