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Once you’ve got a retirement plan, whether you’re in your early 20s or well into middle age, you need to bullet-proof your nest-egg.
By: Jana Schilder Special to the Star, Published on Wed Feb 09 2011 http://www.thestar.com/business/personal_finance/2011/02/09/6_ways_to_keep_your_retirement_nest_egg_safe.html More about Jana Schilder, Toronto Daily Star http://www.janaschilder.com/our-people/jana-schilder/ More retirement stories from Thestar.comEND http://www.thestar.com/business/personal_finance/retirement.html Here are six expert tips: By Louis Sapi 1. How much investment risk can you afford? People in their 20s and 30s have time on their side. They can take on more risk with investments, with the possibility of higher returns. Plus, they’ve got years to rebuild during market corrections. 2. Write down you investment plan and set goals. “Many people don’t know what their target rate of return is. They have not sat down and figured it out. They have no plan,” says Warren MacKenzie, a certified financial planner, chartered accountant and CEO of Weigh House Investor Services, a company that provides fee-based independent reviews of investment portfolios. 3. Know what percentage annual return your portfolio will need to make to achieve your investment plan. Your first benchmark is called your absolute return. That’s the average rate of return you’ll need to make your financial goals. You’ll need to figure out what you’re likely to be spending per year when you retire. And if you have a pension, you’ll be significantly better off than if you’ll be relying on just RRSPs. Say, for example, after you do the math, you learn that you need an annual return of 7 per cent until you stop working, to live comfortably in retirement. You then build your nest egg using investment vehicles — stocks, bonds, mutual funds and more — to give you that 7 per cent return. 4. Know how much fees are really costing you. The second benchmark is one comparing returns you might get elsewhere. How well you are actually doing, compared to how well you could be doing if you bought something else? If you buy exchange-traded funds or ETFs, are you paying lower fees than the management expense ratios or MERs you pay on mutual funds, or the commissions you’d pay on stocks. In other words, how much money are you leaving on the table? 5. Learn about investment products. Read the business sections of newspapers, visit personal-finance and investment websites, watch business TV channels and programs, and pick up some business magazines. Also, all the big banks have robust websites that offer lots of great information, for free. 6. Get some professional advice. There are various ways of paying for advice, many linked to the purchase of investments, but sometimes in the form of fees. Other full-service stock brokers and capital management firms offer a wide range of advice on products, including stocks, bonds, mutual funds and ETFs, and they are paid by fees and commissions that vary by product. “The whole adult family should be aware of investment plans for retirement,” says Louis Sapi, a chartered accountant and managing partner of H&S Partners, an independent accounting firm in Mississauga. “It’s typical of many men of the older generation to control investments themselves, and they are reluctant to involve the rest of the family. It’s important that the spouse, along with the adult children, be aware of the investment plan.” http://www.thestar.com/business/personal_finance/2011/02/09/6_ways_to_keep_your_retirement_nest_egg_safe.html Our mission is to keep hundreds of underprivileged children warm this winter Dear Friends: I would like to extend my appreciation for your participation at the 11th Charger Foundation Annual Charitable Golf Tournament on Thursday, September 24, 2015 at Lionhead Golf & Country Club. I hope you had a great time and enjoyed the event. We are currently in process of tabulating our receipts and will keep you posted once we confirm the amount raised to purchase brand new snow suits for underprivileged children this coming winter. Sincerely, Louis J. Sapi, Chairman, Charger foundation
Here is an excerpt from an important article by Louis on RRSPs. Tax time is fast approaching and it's time now to start considering your options.
One of the most popular and significant tax planning options available to the public is registered retirement savings plans (RRSPs). The RRSP program was created, by the government, to allow people to save for their retirement. With the ever increasing pressures on the Canada pension plan (CPP) and Old age security (OAS) programs, it is no secret that our generation will likely benefit insignificantly from these programs. RRSP’s help us offset the shortfalls of the CPP and OAS programs – at least to some degree. The program works fairly simply. You purchase investments through an RRSP, get a deduction on your tax return in the year you contribute and take the tax savings. Read the entire article here: https://docs.google.com/document/d/1paWFX6XJ-YNa5XilGiMMtVwkremQOHkG8Yc1tUBexds/pub Introduction
The mandate for this section of the book is to introduce you to the general concepts of estate planning. Since every individual has different objectives, needs and issues to deal with, estate planning is a very personal and individual exercise. To many of you estate planning is a grandiose exercise only needed by the rich. This is most definitely not the case. Everyone, who is interested in ensuring their heirs receive as much as possible and the taxman as little as possible, requires estate planning. Make no mistake, however, for some individuals estate planning can be a complex area and you must consult the appropriate professionals to ensure that all practical, legal and tax issues have been dealt with to the best of your ability. Your parents will need a lawyer and chartered accountant to start the process. Later they will likely require the services of an insurance advisor and an investment expert. I simply want to educate you as to general issues and opportunities that you may in turn identify as important for your parents' particular needs. Read the complete article here: https://docs.google.com/document/d/1d5OjMJ_bsDnK0kLBPfjxgsW64GO4ziM7EzjCRY0T8pk/pub This article will help you to gain a better understanding of the accounting profession in Canada by learning about the various strengths, roles and functions of Chartered Professional Accountants (CPAs).
CPAs play key roles within diverse segments of the economy including industry, public accounting, government, education and the not-for-profit sector. They offer a strong set of accounting and managerial skills required for today’s complex and evolving environment. CPAs are broad-minded, forward-thinking professionals who undertake appropriate analysis, exercise good judgment, communicate effectively and act to protect the public interest. So, how do CPAs help the various sectors? Industry: CPAs working in industry provide valuable input on key decisions, apply a unique blend of expertise to identify new market opportunities, ensure corporate accountability, manage risk and help the company maintain a long-term competitive advantage. CPAs add value to organizations in roles such as: · CEO, such as Louis Sapi who is CEO and Managing Partner of HS & Partners, Chartered Professional Accountants · president · CFO/vice-president of finance · treasurer · controller · consultant · systems developer Public practice CPAs working in public practice provide their clients with services such as: · start-up counseling · purchases and sales of businesses · business valuations · business planning and financial projections · process deployment and improvement · developing strategies for securing financing · corporate and personal income tax planning · information technology need analysis · assurance (audits and reviews) · preparing and analyzing financial information · acting as trustee for receivership, insolvency or bankruptcy · developing management controls · management consulting · forensic accounting and litigation support Government: CPAs work at all levels of government providing accounting expertise to guide financial planning and to maintain fiscal control. Roles include tax auditors, policy planners and financial analysts. Education Many CPAs are educators who teach future leaders about business, values and ethics. Not-for-Profit: Stakeholders, including the general public, are taking a greater interest in the administration of organizations receiving donor dollars, tax benefits or government grants. CPAs help not-for-profit bodies with effective strategy development, accounting stewardship and the delivery of high-quality transparent annual reports. As example, Louis Sapi plays an active role in more than one not for profit organization, lending his extensive knowledge and network of connections to benefit these well known causes. When looking for a new accountant in Toronto or Mississauga Ontario, it will help you to understand the various roles that Canadian CPAs like Louis Sapi MBA, CA, CPA play in several areas of business in general. So gain a better understanding of the accounting profession in Canada by learning about the various strengths, roles and functions of Chartered Professional Accountants (CPAs). CPAs play key roles within diverse segments of the economy including industry, public accounting, government, education and the not-for-profit sector. Louis Sapi of Toronto and Mississauga by example, offers a strong set of accounting and managerial skills required for today’s complex and evolving environment. Louis is a broad-minded, forward-thinking professional who undertakes appropriate analysis, exercises good judgment, communicates effectively and acts to protect the public interest. You can contact Louis J Sapi through his personal website at http://www.louissapi.com or through the firm’s corporate website at http://www.hsp-ca.com Or you can follow Louis on his Social Media Sites: http://louissapi.Tumblr.com http://louissapi.weebly.com http://louissapi.wordpress.com https://ca.linkedin.com/pub/louis-sapi/6/794/165 https://facebook.com/louis.sapi http://Twitter.com/lsapi https://plus.google.com/u/0/b/109903530667782682641/109903530667782682641/about Dear friends,
I am writing today to introduce to you a brand new event entitled “Tour de Headwaters”, being planned for September 19th, 2015. I am proud & very excited to be on the board of this inaugural fundraising ride benefitting Headwaters Health Centre. Local friends and leaders have stepped up to the plate to help and many have shared some personal stories that connect them to Headwaters Health Care Centre, the excellent care they or a loved one have received, and the enthusiasm they have for a facility of this quality that exists in our backyard! Below is a brief background on the focus of the $16 million Commitment to Care Campaign and the fundraising focus of the hospital. In the 17 years since the first patient walked through our doors, we have seen huge increases in the number of people turning to our hospital for their care. Last year alone we performed 4,373 day surgeries, completed 1,018 chemotherapy treatments and had 2,588 dialysis visits! Thanks to advances in technology we are treating more patients in an out-patient setting, and this is where the dramatic changes will take place. The plans for our new addition include an expanded Chemotherapy department with an on-site Pharmacy, a procedures room, expanded Plastic Surgery and Orthopaedic clinics as well as an expanded Medicine program that will further increase our patients’ access to specialists including dermatology, mental health and Tele-homecare. This five year campaign is in its 4th year and over $14 million has already been raised. Our plan is that Tour de Headwaters will introduce a whole new audience to the hospital and help the foundation reach its goal. For donations & registrations: https://www.hhcfoundation.com/events/pledge-based-events/tour-de-headwaters/ Yours very truly, Louis Sapi, C.P.A., C.A., M.B.A. HS & PARTNERS LLP CHARTERED PROFESSIONAL ACCOUNTANTS Location Information: http://www.arenamaps.com/view_arena.php?sg=1&id=1563&position=&sport=&arena_name=&city=&state=&zip=&country= Louis attended and received his MBA from the prestigious Schulich School of Business in Toronto.
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