Novel Wealth | Novel Ideas Blog

S&P 500's "Magnificent Seven": Dominance or Danger?

January 13, 2025

How the ‘Magnificent Seven’ Are Reshaping the S&P 500—And What It Means for Investors

You were laid off. So now what?

January 9, 2025

How to navigate your finances after leaving a job - and come out stronger.

It’s 2025: Flying by the seat of your pants is over.

December 30, 2024

Here are seven small but impactful steps to recalibrate, simplify, and thrive. It’s 2025, and flying by the seat of your pants? That’s over! This is your year to recalibrate, simplify, and thrive—in both your personal and professional life. Here’s how to get 2025 started right.

Sloppy Tax: Are You Leaving Money on the Table?

November 22, 2024

If you’re in a high tax bracket, be sure you’re not paying a “Sloppy Tax”.

Conflicting insurance advice? Here’s what you need.

September 30, 2024

In your mission to protect those you love, here’s a tech professionals' guide to protecting your family with insurance.

2024 U.S. Election and the Potential Impact on Our Portfolios

September 17, 2024

There is no doubt, however, that the current campaign is anxiety inducing for investors. Canada may be gearing up for its own divisive political battle, but its noisy neighbour is a behemoth that dominates news cycles. And just like a good horror film, these stories are full of jumps and nerve-shredding moments. It’s only human, therefore, to get caught up in these feelings.

Be Careful Where You Earn Your Dividends

September 4, 2024

A lot of people fall in love with the idea of dividends. It feels amazing to see profits hit your investment account. Even better if these profits are automatically buying more shares through a Dividend Reinvestment Plan (DRIP).

The Magic of a Spousal RRSP

August 28, 2024

First we need to understand the problem; In Canada, we have a graduated tax system. As you move through the tax brackets, each portion of your income gets taxed at a higher rate.

Not Popping Champagne Just Yet, but a New Interest Rate Era has Begun

August 13, 2024

In the end, it was an anti-climax. After months of speculation and conjecture, the Bank of Canada has reduced its benchmark interest rate for the second successive time. But the markets, which had already priced the cuts in, gave an indifferent shrug.

Is a Cottage a Good Investment? Here’s What You Need to Know

July 9, 2024

Cottages were all the rage in recent years past—and that’s precisely why they’re still an investing hot topic in 2024.

8 Most Common Financial Planning Mistakes Made by Tech Workers

July 2, 2024

At Novel Wealth we work with a ton of tech workers. We call these clients, HENRYs (High Earner, Not Rich Yet).

Your Guide to Purchasing Your First Home in Canada

June 27, 2024

First Home Savings Account? Home Buyer Plan? TFSA? Where do I put my house-buying money? Here is your Novel guide to purchase your first home in Canada.

Escape the Tax Trap: Divest Your Company’s Shares Without Triggering Gains

June 20, 2024

Here's how it typically happens: you've participated in your company's share purchase plan for years, and now your company’s value has jumped through the roof.

You Need to Move Your Company Shares to a Tax Shelter ASAP

June 18, 2024

You should be diversified, but if you insist on holding a large amount of one company’s stock, at least don’t pay tax on your profits.

Understanding the Investment Advisor Landscape in Ontario

June 11, 2024

As an investor, it's important to understand the different types of advisors available to you and the services they offer.

Understanding The New Capital Gains Tax – Corporate vs. Personal

May 27, 2024

The new capital gains inclusion rate (CGIR) has made tax planning even more confusing. So here is a breakdown in simpler terms...

Understanding How to Generate Income with a Covered Call Strategy

May 13, 2024

For those heading towards or already in retirement, now is not the time to gamble with your future.

Sharing is Caring – and More Tax Efficient

April 29, 2024

One way to stay a step ahead and to improve next year’s returns is income splitting.

Digesting the Proposed Capital Gains Tax Hike

April 25, 2024

History, ultimately, will be the judge of the recently proposed capital gains tax hike. The Government argues the extra billions of dollars generated will be invested in programs that give people a fairer chance “to build a good, middle-class life”, but critics say this will deter the risk-taking capital that stimulates economic growth and penalize hard-working business owners and individuals.

Income Tax Deadline Checklist

March 29, 2024

No sooner have you navigated the RRSP contribution deadline, then another key date looms into view – your annual income tax return. If only the world was so keen to remind you to watch movies or take a vacation!

Navigating Federal Tax Credits in Canada

March 27, 2024

As tax season approaches, understanding the various federal tax credits available in Canada is essential for maximizing your tax savings.

Understanding Tax Credits vs. Tax Deductions in Canada

March 22, 2024

Tax season is upon us, and navigating the maze of tax jargon can be daunting. One common confusion is the difference between tax credits and tax deductions. Let’s demystify these terms!

Want to Save on Your Taxes When Working From Home? This Year is Different.

March 15, 2024

During the pandemic, the government introduced a simple method to get credit for the fact that most employees were working from home for prolonged periods. However, as we shift back to the office, the rules have changed for the 2023 tax year.

Taxes on RSUs and Share Purchase Plans

March 14, 2024

Tech workers, how are your RSUs taxed? What about your share purchase plan? Do you owe taxes on that?

You May Be at Risk of Severe Tax Penalties - Without Even Knowing It!

March 11, 2024

Are You Filing Your T1135 Form? Here's Why You Should and What You Need to Know!

Navigating Tax Season: Avoiding the Top 5 Mistakes Canadians Make When Filing Taxes

March 4, 2024

Tax season can be a daunting time of year for many Canadians, filled with paperwork, calculations, and deadlines. Filing taxes accurately is crucial, as errors can lead to delays in processing, missed deductions, or even penalties from the Canada Revenue Agency (CRA).

Bad Fees, Good Fees and Great Fees: What am I really paying for?

February 9, 2024

Like all tech professionals, you are probably scouring the internet and asking friends to get an answer to this question: Can I manage my financial plan myself? Do I need to hire a professional? The answer is almost certainly yes.

Can We Finally Expect Interest Rate Cuts?

January 15, 2024

No one can really predict the future. But rewind to the end of 2022 and analysts were forecasting recessions, hard landings, and interest rate cuts. They never happened.

How to Beat Blue Monday

January 12, 2024

When it comes to personal finances, January can be a month when the festive adrenaline eases and your own economic reality hits home. The cure lies in forward-thinking, positive mindset and goal setting.

A Family Office Experience

January 9, 2024

What’s a family office? Imagine all your financial needs taken care of by one team; seamless collaboration between your financial planner, investment manager, account manager, accountant, lending partner, life, health, and property insurance brokers. All working in harmony to build and safeguard your wealth.

The Current State of Alts

December 19, 2023

What a year 2023 is closing out to be. Markets have been up, down and all around. For investors with a traditional 60/40 portfolio, the current value is probably less than the start of the year.

A Lifetime of Contributions

December 13, 2023

According to Lao Tzu, a wise Chinese philosopher, a journey of a thousand miles begins with the first step. Whatever your inspiration to start investing, whether it is a book, lunch with a friend or an introduction to a financial advisor nothing happens without your first contribution.

Time is Your Quiet Investing Partner

December 6, 2023

Time is your greatest investing partner, but its value can be overlooked. Passive and quiet, this partner won’t bang on your door and say it’s time to get started, that part is up to you. But slowly and quietly this partner will start doing some of the investment lifting for you and before you know it your contributions are no longer the most important. Investing is easy once you understand the fundamentals, and using time to your advantage is one of them.