Author: kiara

Your savings, possessions and property form your estate. Estate planning allows you to decide in advance who receives what, and to establish a financial plan to minimize taxes upon your death. An important part of estate planning includes funeral and burial instructions and your wishes regarding medical interventions.

Estate planning is the best strategy to ensure your wishes are followed at the time of your death. Having an estate plan will streamline the process, possibly reduce legal costs, and ease the burden on your survivors.

In Canada there are no “estate taxes” – taxes owed on the entire value of an estate. However, your estate may be subject to probate and income taxes. Taxes and other expenses are paid out of your estate, reducing the amount available to pay to your heirs. All expenses must be paid prior to disbursing to the heirs.

Wills

A Will is a formal legal document detailing how you wish your assets and possessions to be distributed upon your death. It legally guarantees that your savings, individual items and property are given to people and organizations of your choosing. It also allows you to choose the person(s) who will care for your dependents and pets.

In preparing a Will you will decide who will act as executor of your estate. This can be one or more relatives or friends. Who you choose is important as he/she will be responsible for settling the estate and, once all expenses and taxes have been paid, distributing the balance of the estate to the beneficiaries in accordance with your wishes as outlined in the Will. It is sometimes wise to choose at least one younger person to act as executor of your estate to ensure that he/she will be alive when you pass away. Also, choose a person or people who live in Canada, because having a non-resident executor can create problems and additional tax burdens.

You can modify your Will at any time should circumstances change for you or for those mentioned in your will. A change in marital status, grown children, or death of a beneficiary or executor are good reasons to review and update your Will.

Dying without a Will leaves your possessions to be divided according to a pre-set formula according to province. Without a Will, your estate will be automatically transferred to your closest relatives, while friends, charities, and organizations will be excluded.

Having your Will prepared by a notary or lawyer is recommended. Once completed the document will be registered with the Chambre des Notaires and Barreau du Quebec or the law society of your province and becomes an official legal document. This ensures the document is indeed the last official Will and mistake-free and helps avoid delays and procedural costs – not to mention stress – that would be imposed on the executor(so) of your estate. It is important to provide details of your wishes when preparing your will. However, do not put in the specifics of your funeral or burial in the Will because in most cases, the Will is opened and read only after the funeral. Keep those instructions in a safe place and be sure to let the executor(s) know the location.

Keep all information regarding organ donation separate and make sure your close family and friends are aware of your wishes. Some detailed instructions regarding specific furniture or jewellery etc. can be written separately to the official will in what is known as a memorandum or codicil.

Probate

A Will is validated through a process called probate. The goal of submitting a Will to probate court is to ensure that the document is indeed the true Last Will and Testament and to confirm the executer and their ability to perform their duties.

The courts can resolve possible confusion between multiple documents and respond to any concerns regarding the legitimacy of a document (during Probate a Will can be challenged).

In Quebec, a notarial Will does not require probate.

Once the courts have accepted the Will and the appointment of the Executor, they will issue a document that officially appoints the executor as the estate administrator. It is important to be aware that once a Will has been probated it becomes a public legal document and can be viewed by anyone who applies for it at the probate courts.

What property can be transferred without probate?

In all provinces except Quebec, probate fees (sometimes called administration tax or probate tax) vary from province to province but are mostly calculated based on the total value of the “estate”. Consequently, it is important to understand what is considered part of your estate, and what is not.

Joint accounts with a right of survivorship, and financial accounts that already include beneficiary designations are not part of your estate (e.g. life insurance policies, registered savings accounts like RRSP’s or TFSA with named beneficiaries). Planning ahead can reduce probate fees.

Power of Attorney (POA)

A Power of Attorney document grants one or more people with the authority to make decisions for you regarding your bank accounts, payment of bills and other finances, property and other responsibilities in the event you are not available because of travel, hospitalization or other reasons. The terms of a Power of Attorney document are flexible. You set the conditions under which it begins and ends, and you can limit its authority to a specific asset or account.

A Power of Attorney will be completed by a lawyer or notary. Once completed, the document will be registered with the Chambre des Notaires/Barreau du Quebec or the law society of your province and becomes an official legal document. The Power of Attorney will provide you with peace of mind in the event of accident or other emergency where you are not able to take care of your day to day obligations.

Living Will (Mandate in Quebec)

A Living Will (in Quebec known as a Mandate) is a set of instructions that define your medical wishes should you become physically or mentally incapacitated. In Quebec, it also replaces the Power of Attorney, which loses its legal power. The document guides how medical professionals respond in the event you require medical interventions like life-support, tube feeding, or resuscitation. It can also include instructions regarding organ donation. You will designate a person(s) to ensure your wishes are followed or to make last minute decisions on your behalf.

This person can be one or more of the executors of your Will or other people that you choose. When possible, it is wise to choose a person or people who live nearby and would be close at hand. A Living Will (Mandate) will be completed by a lawyer or notary.   Once completed, the document will be registered with the Chambre des Notaires/Barreau du Quebec or the law society of your province and becomes an official legal document.

Private markets are often misunderstood—especially when it comes to how they are valued and how they behave during periods of market stress.

A common misconception is that private investments appear more stable simply because they aren’t priced daily. In reality, they are valued differently—not less rigorously.

How Private Market Valuations Work

Unlike public securities that fluctuate minute by minute, private investments are typically valued quarterly using disciplined, institutional processes. These valuations rely on:

• Discounted cash flow analysis
• Comparable public market data
• Third-party appraisals
• Real transaction activity and market inputs

Importantly, these methodologies are governed by global accounting standards and reviewed by auditors and independent valuation experts. The goal is to reflect fair value based on fundamentals, not short-term market sentiment.

Why Private Markets Behave Differently

The key difference between public and private investments lies not just in pricing frequency, but in structure and underlying drivers.

Private market investments are typically:

• Long-term in nature, reducing the pressure to react to short-term volatility
• Less exposed to market sentiment, such as panic selling or momentum trading
• Driven by fundamentals, including cash flow, asset quality, and operational performance

As a result, private investments often experience less frequent and less severe price swings, particularly during periods of market stress.

Resilience Through Market Cycles

History shows that private markets have held up differently during major downturns:

• During the 2008 financial crisis, public equities experienced significant declines, while diversified private investments generally saw more moderate drawdowns.
• In periods of rapid market stress, such as the 2020 COVID selloff or 2022 rate-driven downturn, private assets were impacted—but often less dramatically and with a steadier recovery path.

This resilience is not due to “hidden risk,” but rather to the structure and underlying characteristics of the investments themselves.

The Role of Private Markets in a Portfolio

Private investments can complement traditional equities and bonds by introducing:

• Diversified return sources, including income-generating assets and long-term growth opportunities
• Lower correlation to public markets
• Potential downside protection, particularly in private credit and real assets
• More consistent income streams in certain strategies

They can also help investors stay disciplined. Because private investments are not priced daily, they may reduce the temptation to react emotionally during market volatility—an often overlooked driver of long-term outcomes.

How Much Should You Allocate?

There is no one-size-fits-all answer, but many portfolios benefit from a measured allocation to private markets.

A practical framework may look like:

• Conservative investors: 5–15%
• Balanced investors: 15–25%
• Growth-oriented investors: 20–35%

Diversifying across private credit, private equity, and real assets can further enhance outcomes.

Key Takeaways for Investors

• Private markets are not “less volatile” because they hide risk—they reflect risk differently
• Valuations are grounded in disciplined, audited, and globally regulated processes
• Historically, private investments have shown less severe drawdowns and strong recovery characteristics
• They can play a valuable role in building more resilient, diversified portfolios

Our Approach

Through our partnership with Harbourfront Wealth, Rothenberg provides clients with access to institutional-quality private market investments—opportunities that have historically been less accessible to individual investors.

For a more in-depth perspective, we encourage you to read the full article by David Ferreira, CFA, Portfolio Manager, on the Harbourfront Wealth website: How Private Markets Really Work: Valuations, Volatility, and the Case for Resilience – Harbourfront Wealth Group

The traditional 60/40 portfolio—60% equities and 40% fixed income—served as the foundation of balanced investing for decades. It offered a simple and effective way to capture growth while managing risk, supported by the historically reliable relationship between stocks and bonds.

Today, that foundation is being tested.

The environment that supported the success of the 60/40 portfolio—declining interest rates, stable inflation, and consistent diversification benefits—has shifted. In recent years, investors have experienced periods where equities and bonds declined simultaneously, reducing the diversification benefits that portfolios once relied on.

At the same time, structural changes in the global economy—higher inflation, elevated interest rates, and increased market concentration—have introduced new challenges for traditional asset allocations. As a result, many investors are reevaluating whether a portfolio built solely on public markets is sufficient to meet long-term objectives.

Why Look Beyond 60/40?

One of the most notable shifts is the growing importance of private markets—including private equity, private credit, real estate, and infrastructure. These assets are a significant and expanding portion of the global investment universe, yet remain underrepresented in many portfolios. Incorporating private investments allows investors to access a broader opportunity set, including companies and assets that are not available in public markets.

The Case for Private Markets

For long-term investors, private markets can offer several compelling advantages when thoughtfully integrated into a diversified portfolio:

• Diversification beyond public markets
  • Private markets broaden the range of options available to investors, since they represent nearly 90% of investments globally. This can help reduce overall portfolio volatility and improve resilience, particularly during periods when public markets move in tandem.

• Potential for enhanced returns
  • Private markets investors are compensated for holding assets that are not immediately tradable. This “illiquidity premium” provides a unique advantage that can result in higher long-term returns compared to public markets. Additionally, active management in private markets, such as hands-on operational improvements in private equity or underwriting in private credit, may offer additional opportunity to increase returns.

• Lower volatility
  • Private markets are not subject to day-to-day price fluctuations of public markets, which can mean lower overall portfolio volatility and potentially more stable performance in volatile markets.  Moreover, the highly customized nature of private market investments often results in more beneficial investment terms to protect capital, leading to greater downside protection. Finally, they have low correlation to traditional asset classes such as public equities and bonds, adding potential portfolio stability in fluctuating markets.

 

The Bottom Line

The traditional balanced portfolio isn’t obsolete, but it may no longer be enough on its own. Incorporating private markets can help investors build portfolios that are more resilient, more diversified, and better aligned with today’s market realities.

Our Approach

Through our partnership with Harbourfront Wealth, Rothenberg provides clients with access to institutional-quality private market investments—opportunities that have historically been less accessible to individual investors.

For a more in-depth perspective, we encourage you to read the full article by David Ferreira, CFA, Portfolio Manager, on the Harbourfront Wealth website: Beyond 60/40: The Case for Private Market Investments in the Modern Balanced Portfolio – Harbourfront Wealth Group

Receiving a refund means you’ve paid more tax than required throughout the year. If you do find yourself with a refund, here are six ideas to consider when deciding what to do with those funds.

1. Splurge (strategically) 

Spending tends to rank low on most “what to do with your refund” lists, but it doesn’t have to be off the table entirely. If your refund is relatively small, consider treating yourself to something meaningful, perhaps a dinner out, a weekend getaway, or something you’ve been putting off.

Even if your refund is larger, allocating a portion of it for enjoyment can be a reasonable choice, provided it fits within your broader financial plan.

2. Contribute to your RRSP                                                                                                                          

Using your refund to contribute to your Registered Retirement Savings Plan (RRSP) can help grow your long‑term retirement savings.

You may have unused RRSP contribution room carried forward from previous years if you didn’t contribute up to your limit. Applying your refund to an RRSP contribution can help you take advantage of that available room and move closer to your retirement goals.

RRSP contributions are tax‑deductible and can reduce your taxable income for the year in which the deduction is claimed. The funds then grow on a tax‑deferred basis until withdrawal.

Depending on your situation, contributing to a spousal RRSP may also be worth considering. This strategy can help couples split retirement income more evenly in the future and potentially reduce their overall tax burden.

3. Contribute to your TFSA

Another option is to place your refund into a Tax‑Free Savings Account (TFSA), especially if you’re saving toward a short‑ or medium‑term goal.

TFSA contributions are not tax‑deductible, but any investment growth and withdrawals are completely tax‑free. Your refund can be invested inside a TFSA in a range of income‑generating or growth‑oriented investments.

TFSA savings can be used for major purchases such as a home, travel, or lifestyle goals, and withdrawals do not impact your taxable income. This also makes TFSAs an effective tool for retirement planning, particularly when used alongside an RRSP to diversify how your future income is taxed.

4. Invest through a taxable (non-registered) account

While the tax advantages of an RRSP or a TFSA are very tempting, investing in a taxable brokerage account also has its advantages. Capital gains are taxed at a favorable rate, so it can make sense to hold investments that are likely to generate sizable capital gains in these accounts while holding income generating investments in an RRSP or TFSA.

Dividends collected on stocks in a taxable brokerage account are also taxed preferentially as opposed to some other income sources. This is because the company has already paid tax on these dividends, and the government does not tax this income again.

Another thing to keep in mind is that funds in a taxable account like an RRSP can be more readily accessible over time than funds held in a tax-sheltered account since they are not subject to the same rules.

5. Pay down debt

If you have outstanding debt such as high interest credit card payments, a personal loan or a mortgage you can consider putting some or all your tax refund towards reducing this debt. You can eliminate or at least reduce the overall amount of the payments on this debt, saving the compounded interest cost over time.

In the case of a mortgage, if the refund is sizable, you could consider making a substantial payment to reduce or eliminate this debt entirely.

6. Build or boost an emergency fund

Your refund money can be used to start or add to an existing emergency fund. This is money set aside in a liquid, low‑risk account to cover unexpected expenses such as job loss, medical costs, or major home or vehicle repairs.

A common guideline is to aim for three to six months of essential expenses. This typically includes housing costs, food, utilities, insurance, transportation, and other necessities required to maintain your standard of living.

Having an emergency fund can help you avoid relying on debt when the unexpected occurs and provides valuable peace of mind.

Review your withholding tax

While not something you would do with the funds from a tax refund, this is a good time to review your withholding tax for the current year to see if it best reflects your situation. Has your income level changed? If so, are you having enough withheld?

Withholding tax refers to the amount of income tax your employer withholds from your paycheck and typically does not consider various deductions normally claimed, such as RRSP contributions, which reduce your taxes payable. If you find yourself getting a sizable refund each year you might consider reducing your withholding tax, so you receive more money with each paycheck.

The takeaway… prioritize what’s important to you

Getting a hefty refund can be a form of forced saving, but you are not receiving any interest on this money. You could be putting it to better use during the year by investing it. However, it really depends on your current situation and your needs.

Contact your Rothenberg Wealth advisor to discuss the best way to put your tax refund to use and to do a review of your withholding tax to ensure that it is optimal for your situation.

As parents, many of the most important financial conversations don’t stop with your own plan. Whether your children are launching their careers, paying off student debt, or thinking about buying their first home, the financial decisions they make early on can have a lasting impact.

While young adulthood often comes with competing priorities and limited experience, it’s also a critical time to establish strong financial habits. This article outlines the foundational planning concepts young adults should understand, and highlights where guidance, structure, and early support can help set them on a more confident financial path.

 

Why start financial planning early?

Time is one of your greatest financial advantages a young person has. Starting early allows savings and investments to benefit from compounding, where money earns returns, and those returns generate returns of their own. Even modest contributions made consistently can grow meaningfully over time.

Beyond growth, early financial planning helps young adults:

• Reduce financial stress
• Avoid costly mistakes
• Make intentional choices about spending and saving
• Feel more prepared for major life milestones

A solid plan provides clarity, not restriction, and helps ensure money supports the life they want to build.

 

Build a strong foundation

Before investing, it’s important to establish a stable financial base.

Create an emergency fund

An emergency fund acts as a safety net for unexpected expenses such as car repairs, medical costs, or job changes. A common guideline is to aim for three to six months of essential living expenses in a high‑interest savings account.

Manage debt strategically

Many young adults carry student loans, credit cards, or car loans. Not all debt is bad, but high‑interest debt can significantly slow progress. Prioritizing repayment, especially for high‑interest balances, can free up cash flow and reduce financial pressure over time.

 

Understand your Canadian tax-advantaged savings options

Canada offers several powerful registered accounts designed to help you minimize taxes and save more efficiently.

Tax‑Free Savings Account (TFSA)

Despite its name, the TFSA isn’t just for cash savings. It’s a flexible account that allows different types of investments to grow tax‑free, with withdrawals also tax‑free. TFSAs are ideal for shorter‑ or medium‑term goals, or as a complement to long‑term investing.

Registered Retirement Savings Plan (RRSP)

RRSP contributions are tax‑deductible, which can be especially valuable as income increases. While retirement may feel far away, starting early, even with small amounts, can significantly reduce the effort required later.

First Home Savings Account (FHSA)

For young adults planning to buy their first home, the FHSA combines features of both a TFSA and an RRSP. Contributions are tax‑deductible, and qualifying withdrawals for a first home are tax‑free, making it a powerful tool for future homeowners.

 

Investing with purpose

Investing doesn’t require perfect timing or expert predictions. What matters most is having a clear strategy aligned with goals, time horizon, and comfort with risk.

Young adults typically have longer time horizons, which can allow for greater exposure to growth‑oriented investments. That said, diversification and discipline remain essential. A well‑constructed portfolio helps balance risk while keeping you invested through market ups and downs.

Avoiding emotional reactions to chase trends or react emotionally to short‑term market movements. Consistency and patience are often the most effective investment strategies.

 

Protect what you’re building

As a young adults life grows, so does the need for protection.

Insurance, such as disability or life insurance, can help safeguard income and loved ones if the unexpected occurs. While it’s not always top of mind early on, having appropriate coverage in place can prevent financial setbacks later.

 

Financial planning is not one‑size‑fits‑all

Everyone’s financial journey looks different. Career paths, family plans, lifestyle goals, and values all play a role in shaping the right strategy. That’s why financial planning is most effective when it’s personalized and reviewed regularly as circumstances evolve.

Working with a trusted wealth management professional can help you:

• Clarify goals and priorities
• Build a realistic, adaptable plan
• Navigate complex decisions with confidence
• Stay accountable over time

 

How parents can help

Supporting adult children financially doesn’t always mean providing capital. In many cases, the most valuable support is helping them establish good habits, understand their options, and put a thoughtful plan in place early.

Encouraging conversations around saving, investing, debt management, and long‑term goals can help young adults avoid common pitfalls and gain confidence in their financial decisions.

If your children or grandchildren are at this stage of life, we’re happy to be a resource, whether that means answering questions, providing guidance, or helping them build a plan that complements your broader family goals.

Feel free to share this article with them, or contact us to discuss how thoughtful planning today can support your family across generations.

Recent developments in the Middle East have introduced renewed geopolitical uncertainty into global markets. As expected, the initial reaction included market volatility, rising oil prices, and increased demand for traditional safe‑haven assets such as gold and the U.S. dollar. These moves reflect short‑term caution rather than a fundamental shift in the long‑term economic outlook.

The primary area of focus has been energy markets. A significant portion of the world’s oil flows through the Strait of Hormuz, and concerns about potential disruption have pushed oil prices higher. That said, global oil markets entered this period relatively well supplied, and OPEC+ has already taken steps to increase production—factors that may help limit longer‑term impacts if the conflict remains contained.

Higher energy prices can contribute to inflation pressures, which is why bond markets have been sensitive to these developments. For now, markets appear to be pricing in uncertainty rather than a lasting economic shock. History shows that geopolitical events often create short‑term volatility, while long‑term market performance continues to be driven by fundamentals such as earnings, growth, and valuation.

Our perspective at Rothenberg Wealth Management

Periods of uncertainty reinforce the importance of staying focused on fundamentals rather than reacting to headlines. At Rothenberg, we have access to Harbourfront institutional quality investment solutions that are actively managed to take advantage of long-term opportunities in the markets. Speak with a Rothenberg Wealth advisor to find out more about how these investment solutions can help you achieve your financial goals.

Read the full, in‑depth article here. 

Tax season is here, yet again. If you’re a tax filing veteran, you’re likely comfortable filing your tax return yourself, without any help. There’s satisfaction in doing it yourself and as it turns out, you might even enjoy it.

Canadians still love their tax refunds, but with an increasing number of people missing refunds due to costly mistakes, you might be torn over whether you should go the do-it-yourself route or if now is the time to employ the services of a tax expert.

An error on your tax return can lead to a penalty, interest charges or even an audit by the CRA. Perhaps most importantly, however, you may miss out on valuable tax deductions or credits.

When To Do Your Taxes Yourself

Preparing your own tax return should be easy if your financial situation is simple. We’ll call these people Tax DIYers, where DIY stands for “Do-It-Yourself!”

TurboTax and other off-the-shelf tax preparation software options will walk you through a series of questions about your finances and alert you to any credits and deductions you may qualify for. They don’t require any math calculations or in-depth knowledge of the tax code.

But how do you determine if your position is simple?

1. If preparing your taxes just requires you to pull information from a handful of documents prepared by others, such as the T4, you’ll find basic tax software suitable.
2. If your tax situation hasn’t changed over the last year, you work for an employer, are single with no kids, etc., your tax return would be very straightforward.
3. If nothing is going on in your life that can complicate your tax situation, it might not be worth paying a professional.

When to Hire a Professional

You might be better off hiring an accountant than trying to do your tax return yourself in some situations.

Tax preparers stay up to date on tax codes as well as provincial and federal tax laws.

An accountant can recommend what deductions and exemptions you qualify for and help you plan for future growth by informing you about any tax requirements changes.

Hire a tax expert in case of:

1. Major Life Changes

If you recently got married (congratulations), you might need a professional to guide you on the tax filing status to use. While most couples prefer filing jointly, there are some situations where it makes more sense to file separately.

It’s not just marriage. Other life milestones like expanding your family and having a child, losing or getting a new job, graduating from college and relocating could all impact your tax return and your potential total refund.

An accountant can help you learn about any new benefits or tactics to minimize your tax liability. This way, you will be able to take advantage of every tax break available to you.

A tax professional can also help you learn to navigate your tax return this year, so you feel confident doing it yourself in the future. You can always revert to doing your own taxes if you don’t experience any other major life changes the next year.

2. Failing to Pay in the Past

If you failed to file necessary tax returns in the past years, reach out to a tax expert.

They know about the programs offered by the CRA for individuals in this situation. A tax accountant can help you file years’ worth of returns, something that might take you a long time to master, especially as the April 30 tax filing deadline approaches.

This gives you confidence that your tax return is filed correctly and the peace of mind that you’re in good standing with the CRA.

3. Owning a Business

If you are a business owner, you should probably consider hiring an accountant to prepare your tax return.

Almost every financial transaction comes with some kind of tax consequence. Your accountant will prevent you from making any costly mistakes, help you report tax items accurately, and maximize deductions.

You should also use a tax preparer if you purchased rental property during the year.

4. Simply Not Having the Time

Tax preparation involves gathering documents, reviewing the procedures, and filling out tax forms. It is a notoriously slow and boring process, which is why so many of us dread it and postpone it until the last minute.

While doing this might seem like a simple weekend project for some Canadians, for others, not so much. Maybe you feel that the time you’d spend doing your taxes would be better spent elsewhere.

Consider hiring a tax expert if you lack the time or patience to prepare your own return.

In Conclusion

There is no universally correct answer when it comes to filing your taxes with software versus hiring an accountant or tax professional. Ultimately, the choice comes down to the complexity of your tax situation.

If your tax situation is fairly straightforward and you have some confidence in your ability to work step-by-step through tax software, it’s relatively cheaper to do your own taxes this way.

If your tax situation is more complicated, hiring a tax preparer can be worth the expense. Just ensure the preparer has the right credentials and stellar testimonials to avoid being a victim of tax scams.

Over to You…

The official deadline to file your Canadian personal income tax return for 2025 and pay any taxes owed to the Canada Revenue Agency (CRA) is April 30, 2026. 

As the year draws to a close, it’s the perfect time to review your finances and ensure you’re taking advantage of every opportunity to save. A year-end financial checklist can help you optimize tax credits, deductions, and benefits before the deadline. Here are key items to consider:

Pension income splitting — Those who receive a pension may be eligible to split up to 50% of eligible pension income with a spouse

Guaranteed income supplement — If you received the guaranteed income supplement or allowance benefits under the old age security program, you can renew the benefit by filing by the deadline.

Registered retirement savings plan (RRSP) — You have until December 31 of the year in which you turn 71 to contribute to your RRSPs.

Goods and services tax/harmonized sales tax (GST/HST) credit — You may be eligible for the GST/HST credit, a tax-free quarterly payment that helps offset all or part of the GST or HST you pay. To receive this credit, you must file an income tax and benefit return every year.

Medical expenses — You may be able to claim eligible medical expenses that you paid, provided the expenses were made over the 12-month period ending in 2024 and were not previously claimed. This can include amounts claimed for attendant care or care in an establishment.

Age amount — If you are 65 years of age or older on December 31, 2025, and if your net income was less than $102,925.

Pension income amount — You can claim up to $2,000 if you report eligible pension, or annuity payments on your tax return.

Registered disability savings plan (RDSP) — This savings plan can help families save for the financial security of a person who is eligible for the disability tax credit. RDSP contributions are not tax deductible and can be made until the end of the year in which the beneficiary turns 59.

Disability amount — If you, your spouse or a dependent have severe and prolonged impairments in physical or mental functions and meet certain conditions, you may be eligible for the disability tax credit (DTC).

Family caregiver amount — Those caring for a dependent with impairment in physical or mental functions may be able to claim up to $2,616 when calculating certain non-refundable tax credits.

Tax-Loss selling – Tax-loss selling can be a valuable strategy. For more details, check out our recent article on this topic: Potentially lower your taxes with tax-loss harvesting – Rothenberg Wealth Management

Taking time now to review these opportunities can help you reduce your taxes and maximize benefits. If you’re unsure which credits apply to you, contact your Rothenberg Wealth Management advisor for personalized advice.

As we welcome a new year, it’s the perfect time to revisit your financial goals, take advantage of updated contribution limits, and ensure your long‑term strategy still aligns with life’s evolving priorities. With new TFSA and RRSP limits in effect for 2026, it’s an ideal moment to reflect, reset, and reconnect with your Rothenberg wealth advisor.

1. 2026 contribution limits

TFSA Limit: $7,000 for 2026

The Tax‑Free Savings Account (TFSA) contribution limit for 2026 remains $7,000, matching 2024 and 2025. For Canadians who have been eligible since TFSAs were introduced in 2009, this brings the total cumulative room to $109,000.

RRSP Limit: $33,810 for 2026

The Registered Retirement Savings Plan (RRSP) 2026 contribution limit has increased to $33,810, up from $32,490 in 2025.

These limits give you the flexibility to grow wealth, either tax‑free (TFSA) or tax‑deferred (RRSP), as part of a thoughtfully structured financial plan.

2. A new year is the perfect time to reassess your goals

Financial planning isn’t static. As life evolves, so should your financial and investment strategy. Early in the year is an excellent opportunity to check whether your goals and contribution plans still make sense.

Here are some life changes that may prompt a review:

Career changes or promotions: Higher income may increase your RRSP contribution room and alter your tax planning needs.

Buying a home: You may need to reprioritize savings between RRSPs, TFSAs, and other accounts.

Growing your family: New dependants often mean updated insurance needs, RESP planning, and adjustments to cash flow.

Retirement planning updates: As you get closer to retirement, your investment strategy and RRSP withdrawal plan may shift.

Changes in financial priorities: New goals, such as starting a business, planning a major purchase, or taking a sabbatical, may require a refreshed approach.

Significant family events: a change in family circumstances or receiving an inheritance may alter financial priorities and require revisions to savings strategies and estate planning.

With contribution limits resetting and life changes potentially altering your financial picture, early-year planning helps you stay ahead rather than reacting later.

3. Why meeting with your wealth advisor matters now

Understanding contribution limits is important, but integrating them into a long‑term plan is where the real value lies. A Rothenberg wealth advisor can help you:

• Maximize both TFSA and RRSP opportunities
• Align savings strategies with life changes
• Avoid over-contribution penalties
• Build a personalized investment plan that supports your evolving goals

As contribution room for both accounts resets each January, now is the ideal moment to set up a review and ensure you’re making the most of the year ahead.

Start the Year Strong

2026 brings fresh opportunities, expanded contribution limits, and a natural moment for reflection. Whether you’re adjusting to new life circumstances or simply fine-tuning your long‑term goals, revisiting your financial plan now can set you up for a more confident and successful year.

If you’re ready to make the most of the new year, book a time with your Rothenberg wealth advisor to review your goals and set yourself up for a successful year ahead.