Kevin Hung, CPA, CA

Today FP Canada released their Projection Assumption Guidelines for 2024. This annual guide helps aid financial planner's in making realistic financial projections when building plans which helps protect both clients and planners. Some key information it covers are rates of returns, inflation, and probability of survival by gender. When creating a financial plan it is important to use realistic assumptions to ensure you are on track to meet your goals. Having an assumed rate of return of 10% over the long term is not sustainable and a recipe for disaster.

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To build resilience and create value, private boards should guide their companies to develop proactive risk management strategies. Learn more: https://ow.ly/jwpq30sBEYY #EYCanada #BetterWorkingWorld

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Unfortunately this is also true when you do in fact move from one institution to another properly! The amount of improper coding I’ve seen done by back end offices is embarrassing and the CRA is less than helpful to get the error corrected. In one case money was transferred directly from a local credit union to one of the big banks. Big bank receiving it coded it incorrectly. CRA assessed $1700 in penalties and fees (a whole year and a half later since it took that long for them to do the review). Within a couple of hours I had confirmation from the recipient bank in writing that it was their error and they would correct the coding. Unfortunately, the CRA required everything to be printed and sent in paper form to them and even then they waited until the big bank had forwarded their electronic backend files to correct the code. This took 8 more months. Issue was only resolved and corrected this April after 26 months! My issue - I was persistent and kept following up with all parties to get it resolved because it was a family member of mine. How many Canadians just pay this and don’t take the time to get this resolved. This rule about room regenerating next January 1 is frustrating.

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What do past candidates have to say about LevelUp BootCamps CFA® Level 3 Exam Prep? "Marc LeFebvre is truly the Jedi for the CFA exam." - Sammy Reid, CFA. Visit levelupbootcamps.com to make your exam One & Done. #cfa #cfaleveliii #cfalevel3 #cfaexam #cfaprogram #cfainstitute

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PwC Canada's 2024 Federal budget analysis is here. Explore key insights from this year's budget and learn how this will impact the Canadian economy and your business.

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