Self-Assessment Test

Investment planning is just one component of an overall financial plan. A holistic wealth management plan considers tax planning, estate and succession planning and retirement income planning. To send your results to Popescu Group Private Wealth Management and have an advisor contact you, please enter your information below.

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Self Assessment Questionnaire
  1. Do you have a plan in place to convert taxable income into capital gains on a yearly basis?
  2. An RRSP is a tax deferral mechanism rather than a true tax savings strategy. Are you taking advantage of any alternatives to RRSPs that provide similar annual tax savings without “locking” money in?
  3. If a spouse is in a lower tax bracket, are you taking advantage of current income splitting opportunities such as spousal loans?
  4. Are you currently deferring taxes on non-registered investments when you sell one investment and move to another, even if you trigger a profit?
  5. Are you taking advantage of all of the tax reduction strategies currently available to you as a taxpayer?
  6. If you have a mortgage on your principal residence is the interest tax-deductible?
  7. Do you have a plan in place to withdraw from your RRSP/RRIF in a tax efficient manner?
  8. Do you have a retirement income analysis in place to ensure you are spending (or planning to spend) just the right amount? A lack of income projection leads some to deplete assets too quickly while others may not lead their preferred lifestyle due to the uncertainty over whether or not money will last.    
  9. Will you be income splitting during retirement to ensure that, as a family, you are paying the least amount of tax on your combined income?
  10. Do you have an estate needs analysis in place that calculates the approximate estate taxes and probate fees on your estate should you pass away during any given year; and do you have a plan in place to minimize those taxes and leave your estate to your beneficiaries in the most tax efficient manner?
  11. Is there a plan in place to ensure assets you leave to your beneficiaries are protected from current and future spouses and other potential creditors?
  12. Leaving all assets to a surviving spouse consolidates assets from two individuals to one, increasing the likelihood of higher taxation. Have you determined if a spousal trust is an appropriate alternative to ensure the surviving spouse can continue to income split?
  13. Statistics show one of the largest expenses incurred during retirement is health care. Do you have a risk management plan in place to determine to what extent health related issues may impact your financial plan?
  14. Do you have a financial analysis in place that calculates the financial outcome of your current approach and compares that to the outcomes of alternate approaches using various wealth building strategies? A computerized analysis of a financial plan ensures you take advantage of the most effective ways to reach your objectives.  
  15. Have you analyzed your portfolio using asset allocation software to ensure your portfolio is as efficient as possible? Using technical analysis software can measure the efficiency of a portfolio by quantifying the gap between risk and return in order to compare these ratios with other investment options. 

Additional questions for the incorporated business owner

  1. Do you have a plan in place to access your corporation's retained earnings without paying personal income tax? 
  2. Do you have a plan in place to pass along the assets within your corporation to your heirs without any tax liability?
  3. Do you have a succession plan in place to either sell or pass on your business in the most efficient manner?  



For more information on the above, please contact us.