Ignorance of legal and tax rules, poor choice of investment vehicles or even poorly structured planning.These errors are among those which are most often observed among savers and investors in the management of their assets.Two experts go there with their advice to avoid pitfalls.Publié le 21 nov. 2021Stéphane Champagne Collaboration spéciale
MichaëlRoy, financial planner, investment advisor and financial security advisor at Assant Heritage Management, in Saint-Hyacinthe, believes that taxation is to be considered when we save for his old days.
"Those who have money in unregistered accounts," he says, "do not think of the effect of taxation.CPGs [guaranteed investment certificates] or obligations are highly imposed investment types.I rather suggest to my clients to place their money in actions or funds in company categories.We obtain capital gains or dividends, which is more advantageous from a tax point of view.»»
Another observation: people save and omit to think about it, continues MichaëlRoy."Too often people are in accumulation mode for decades, but do not take the time to set goals. Veulent-ils un transfert intergénérationnel ou léguer leurs avoirs à une œuvre de bienfaisance ?»»
He cites as an example a client who, at 60, has $ 1 million accumulated."However, it only needs $ 40,000 per year to live well," explains M.Roy.Its heirs are likely to receive less if the investment vehicles are poorly suited.This is where the financial planner comes into play.For example, taking surpluses and investing them in participatory life insurance makes it possible to create wealth and offer your heirs a substantial amount sheltered from.»»
Savers put a lot of energy to, for example, plan a trip or buy a car, but they don't even take an hour to prepare their retirement.It's ironic, right?
MichaëlRoy, planificateur financier, conseiller en placements et en sécurité financière chez Gestion de Patrimoine Assante, à Saint-Hyacinthe
Marc Bachand, full professor at the University of Quebec in Trois-Rivières (UQTR) and director of the Department of Accounting Sciences, observe une « incompréhension du rôle temporel dans l’équation patrimoniale»».
"People," he believes, "has a short term, while the heritage game takes place in the long term.Everyone wants to make a return quickly.However, this is not how it works.Someone who is starting to save early will come to more interesting results, and at a lower cost, that someone who is starting to save at 40 years.»»
Selon Marc Bachand, les épargnants ont une « approche en silo»» dans la construction de leur patrimoine."There is a mistake about the communicating vases in the creation of the financial heritage. Les gens ont de la difficulté à évaluer les meilleurs choix financiers possible lorsque le patrimoine est constitué d’actifs et de passifs»», dit-il en substance.
Someone who fell asleep for $ 4,300 to contribute to his RRSP, using for example his margin of mortgage, is becoming appalred.The best placement is to repay your debts.
Marc Bachand, full professor at the University of Quebec in Trois-Rivières (UQTR) and director of the Department of Accounting Sciences
Enfin, le professeur Bachand note que bien des épargnants connaissent peu ou pas les règles juridiques et fiscales en cas de transmission ou de partage du patrimoine financier, ce qu’il appelle « les conséquences inconnues du divorce, du départ et du décès»».
Quebec family law is thus made that spouses can be disadvantaged if, for example, they are in fact and that there is a separation or that no will has been written as to the distribution of assets in the event ofdeath.
Personal finances and wealth management are among the most treated subjects in the media, points out Marc Bachand.He and his colleague Nicolas Boivin, of the UQTR, also put all their courses, works and publications available to the general public free of charge.
"We are paid by the state. Pour nous, c’est normal de partager nos connaissances»», affirme cet adepte du mouvement de Ressources éducatives libres (REL ou « OER»» en anglais pour Open Educational Resources).