Lasting Financial Security - Weekly Financial, Economic & Market Wrap Up
Adrian C. Spitters FCSI?, CFP?, CEA? President, Author, Private Wealth Advisor
I Execute Tax-Efficient Investment Portfolio Solutions So That Your Business, Family, And Estate Assets Are De-Risked And Protected Against Financial Risk, Economic Threats, Inflation And Higher Taxes.
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Here's A Brief Overview Of This Week's Top Stories:
The Hidden Costs of Canada's Capital Gains Tax Hike
A decade ago, a University of Toronto economics professor emphasized the importance of understanding tax incidence. This concept is crucial today as the Liberal government increased the capital gains inclusion rate from 50% to 66% on June 25, claiming it will only affect 0.13% of Canadians annually. This figure is misleading and incomplete and ignores the broader economic impact.
Misleading Figures: The 0.13% Myth
The government's claim that the tax hike impacts only 0.13% of Canadians annually is deceptive. The taxpayers within this 0.13% change yearly, and many Canadians might face this tax once in their lifetime. Economist Jack Mintz estimates that 1.26 million Canadians, or 4.3% of tax filers, will be affected by the capital gains tax hike over their lifetimes, not just 0.13% as suggested.
Incomplete Picture: Corporations and Investments
The 0.13% figure also omits corporations. Approximately 307,000 corporations, including around 6,000 publicly traded ones, will be subject to the tax. Many Canadians will indirectly pay higher capital gains taxes through investments and pension plans. Mintz estimates that 4.74 million individual investors will be affected, representing 15.8% of all filers, far exceeding the government's claim.
Continue Reading: The Hidden Costs of Canada's Capital Gains Tax Hike
Is The Current State Of The Economy Keeping You Up At Night?
Given the current economic and market volatility, you might have questions or concerns about your financial security. As a valued Lasting Financial Security subscriber, we're offering a complimentary portfolio evaluation to ensure your investment strategy aligns with your financial goals. To discover how we can help you strengthen and de-risk your portfolio against economic threats, inflation, and higher taxes, please email me at [email protected] or use my Calendly Link to book your private strategy session.
The Consequences of Abandoning the Gold Standard: A Critical Analysis
In 1933, the United States took a significant step towards inflation by temporarily moving off the gold standard. President Franklin D. Roosevelt suspended the gold standard, which had previously constrained the Federal Reserve's ability to increase the money supply, as the dollar was pegged to a fixed amount of gold. By abandoning this standard, the Federal Reserve gained the capacity to print more money, effectively inducing inflation.…
Continue Reading: The Consequences of Abandoning the Gold Standard: A Critical Analysis
The Great Canadian Sellout: Wake Up Before It's Too Late!
Canadians, it's time to wake up. The Trudeau government's decision to increase the capital gains inclusion rate (CGIR) from 50% to a staggering 66.7%, effective June 25, 2024, is not just another tax hike. It's a calculated move designed to cripple the financial independence of hardworking Canadians. For those of you who have invested time, effort, and money into building your wealth, this is nothing short of an attack on your future…
Continue Reading: The Great Canadian Sellout: Wake Up Before It's Too Late!
Advisors and Private Markets: A Growing Divide in Knowledge
Over 90 percent of survey respondents allocate client capital to private markets. Almost all (99 percent) plan to continue this practice this year, according to a recent independent survey by Hamilton Lane, a global private markets investment management firm. More than half of the advisors (52 percent) plan to allocate over 10 percent of clients' portfolios to private markets, reflecting a broader industry trend of increased interest among non-institutional investors…
Continue Reading: Advisors and Private Markets: A Growing Divide in Knowledge
Money Can't Buy Happiness, But The Wealthy Wield Immense Power
If you have enough money, you can buy just about anything. And when you are in a position where you can afford nearly everything, you wield an enormous amount of raw power. Today, Canada is completely dominated by those at the very top of the economic pyramid. The richest one percent of the one percent in Canada are pretty much able to do whatever they want, while the rest of Canadians are powerless to stop them. Unfortunately, the gap between the ultra-wealthy elite and the rest of Canadians continues to increase…
Continue Reading: Money Can't Buy Happiness, But The Wealthy Wield Immense Power
Canada's Mortgage Crisis: A Looming Threat to Financial Stability
Canada's household debt has reached unprecedented levels, posing significant risks to the nation's financial stability. Following a period of low interest rates and aggressive home-buying, many borrowers are now struggling to manage rising interest rates despite having undergone stress tests designed to ensure their ability to cope with such scenarios. In response, banks and regulators have extended the maximum period for mortgage repayment. Despite intentions to mitigate the problem swiftly, recent filings reveal that many of Canada's Big Six banks hold mortgages with amortization periods far exceeding the prescribed limits…
Continue Reading: Canada's Mortgage Crisis: A Looming Threat to Financial Stability
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Canadian Households Struggle with Debt as Delinquencies Rise
Canadian households are starting to realize why so many agencies warned against borrowing excessive debt. A new report from Equifax Canada shows that more households are struggling to repay their super-sized debt loads. This trend is particularly amplified in more expensive regions, where delinquencies are rising faster than the national average. Early signs indicate this trend may be just getting started…
Continue Reading: Canadian Households Struggle with Debt as Delinquencies Rise
Canadian Renters Facing Record Highs: A Double-Edged Sword
Canadian renters are experiencing the highest rent asking on record. Nationwide, average rents increased by 9.3% in May compared to a year earlier, continuing a trend seen over the past three years. RBC economist Carrie Freestone highlighted that renters, who generally pay a larger share of their income on housing than homeowners, are at risk of falling behind in long-term wealth accumulation. This is especially concerning for those with lower incomes…
Continue Reading: Canadian Renters Facing Record Highs: A Double-Edged Sword
A Partnership for Holistic Wealth Management
As a dedicated advocate for de-risking business, family and multi-generational wealth, I am partnered with one of Canada's leading independent private wealth management firms. My team serves high-net-worth clients nationwide. We provide professional investment management and comprehensive wealth planning solutions from a fiducially focused, client-first perspective. We provide access to sophisticated tax-advantaged strategies and solutions traditionally reserved for the ultra-affluent.
Capital Preservation First
We are driven by a "capital preservation first" philosophy. Our team generates consistent, tax-efficient returns uncorrelated to public markets. By leveraging our expertise, you are granted access to key industry professionals, gaining exclusive entrance into alternative investments such as private equity, private real estate, precious metals, commodities, government-sanctioned flow-through tax-efficient structures, and tax-minimizing corporate insurance solutions offered through mutual life companies. All are designed to fortify, secure and de-risk your family, business and estate assets against financial risk, economic threats, inflation and higher taxes.
To receive a complimentary digital copy of "Who's Investing Your Money?," email me at [email protected] or book a complementary portfolio evaluation with me through my Calendly Link.
The Custodial Model: An Additional Layer of Protection
In light of the revelations in David Rogers Webb's book The Great Taking , to further safeguard wealth, the firms I work with employ a custodial model, where client assets are held securely by an independent third-party custodian rather than commingled with the firm's assets. This crucial segregation of assets provides an additional layer of protection, reducing the risk of seizure or misappropriation in a financial crisis or institutional insolvency. The custodial model offers investors a safeguarded solution to help secure their wealth separately from the investment management firm.
Watch The Great Taking Documentary
Additional Resources:
Exploring the U.S. for Wealth Security
Amid economic uncertainty and high taxes in Canada, many affluent Canadians are considering relocating their wealth to the United States. The U.S. offers a more favourable tax environment and stronger asset protection laws. Peter J. Merrick, a renowned cross-border specialist, assists Canadians in navigating international wealth management complexities, facilitating seamless asset transfers to diversify holdings and safeguard their hard-earned assets from potential risks.
For Full Details, CLICK HERE
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Adrian C. Spitters FCSI?, CFP?, CEA? President, Author, Private Wealth Advisor
I Execute Tax-Efficient Investment Portfolio Solutions So That Your Business, Family, And Estate Assets Are De-Risked And Protected Against Financial Risk, Economic Threats, Inflation And Higher Taxes.
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