Diversity in the Workplace

When, while the lovely valley teems with vapor around me, and the meridian sun strikes the upper surface of the impenetrable foliage of my trees, and but a few stray gleams steal into the inner sanctuary, I throw myself down among the tall grass by the trickling stream; and, as I lie close to the earth, a thousand unknown plants are noticed by me: when I hear the buzz of the little world among the stalks, and grow familiar with the countless indescribable forms of the insects and flies, then I feel the presence of the Almighty, who formed us in his own image, and the breath of that universal love which bears and sustains us, as it floats around us in an eternity of bliss; and then, my friend, when darkness overspreads my eyes, and heaven and earth seem to dwell in my soul and absorb its power, like the form of a beloved mistress, then I often think with longing, Oh, would I could describe these conceptions, could impress upon paper all that is living so full and warm within me, that it might be the mirror of my soul, as my soul is the mirror of the infinite God!

O my friend — but it is too much for my strength — I sink under the weight of the splendor of these visions! A wonderful serenity has taken possession of my entire soul, like these sweet mornings of spring which I enjoy with my whole heart. I am alone, and feel the charm of existence in this spot, which was created for the bliss of souls like mine.

I am so happy, my dear friend, so absorbed in the exquisite sense of mere tranquil existence, that I neglect my talents. I should be incapable of drawing a single stroke at the present moment; and yet I feel that I never was a greater artist than now.

When, while the lovely valley teems with vapor around me, and the meridian sun strikes the upper surface of the impenetrable foliage of my trees, and but a few stray gleams steal into the inner sanctuary, I throw myself down among the tall grass by the trickling stream; and, as I lie close to the earth, a thousand unknown plants are noticed by me: when I hear the buzz of the little world among the stalks, and grow familiar with the countless indescribable forms of the insects and flies, then I feel the presence of the Almighty, who formed us in his own image, and the breath of that universal love which bears and sustains us, as it floats around us in an eternity of bliss; and then, my friend, when darkness overspreads my eyes, and heaven and earth seem to dwell in my soul and absorb its power, like the form of a beloved mistress, then I often think with longing, Oh, would I could describe these conceptions, could impress upon paper all that is living so full and warm within me.

Rest During Working Hours

When, while the lovely valley teems with vapor around me, and the meridian sun strikes the upper surface of the impenetrable foliage of my trees, and but a few stray gleams steal into the inner sanctuary, I throw myself down among the tall grass by the trickling stream; and, as I lie close to the earth, a thousand unknown plants are noticed by me: when I hear the buzz of the little world among the stalks, and grow familiar with the countless indescribable forms of the insects and flies, then I feel the presence of the Almighty, who formed us in his own image, and the breath of that universal love which bears and sustains us, as it floats around us in an eternity of bliss; and then, my friend, when darkness overspreads my eyes, and heaven and earth seem to dwell in my soul and absorb its power, like the form of a beloved mistress, then I often think with longing, Oh, would I could describe these conceptions, could impress upon paper all that is living so full and warm within me, that it might be the mirror of my soul, as my soul is the mirror of the infinite God!

O my friend — but it is too much for my strength — I sink under the weight of the splendor of these visions! A wonderful serenity has taken possession of my entire soul, like these sweet mornings of spring which I enjoy with my whole heart. I am alone, and feel the charm of existence in this spot, which was created for the bliss of souls like mine.

I am so happy, my dear friend, so absorbed in the exquisite sense of mere tranquil existence, that I neglect my talents. I should be incapable of drawing a single stroke at the present moment; and yet I feel that I never was a greater artist than now.

When, while the lovely valley teems with vapor around me, and the meridian sun strikes the upper surface of the impenetrable foliage of my trees, and but a few stray gleams steal into the inner sanctuary, I throw myself down among the tall grass by the trickling stream; and, as I lie close to the earth, a thousand unknown plants are noticed by me: when I hear the buzz of the little world among the stalks, and grow familiar with the countless indescribable forms of the insects and flies, then I feel the presence of the Almighty, who formed us in his own image, and the breath of that universal love which bears and sustains us, as it floats around us in an eternity of bliss; and then, my friend, when darkness overspreads my eyes, and heaven and earth seem to dwell in my soul and absorb its power, like the form of a beloved mistress, then I often think with longing, Oh, would I could describe these conceptions, could impress upon paper all that is living so full and warm within me.

Our Tactics for Finding a Better Work/Life Balance

With technology making employees accessible 24 hours a day now, striking a healthy work-life balance can seem next to impossible to achieve. This, combined with the compounding stress of a rising cost of living, an exacerbated competitive job market, and the occasional 50 hour work week, can create some damaging effects on your well-being. Finding balance in life will differ for everyone. The key is to determine how you can find your balance, even when it seems impossible. After all, your happiness and health depend on this! To help you master this balancing act, here are a few of our tactics for finding a better work/life balance.

Learn To Unplug

Sure, technology makes your life more convenient, but it also consumes much of your time, while creating a standard where you’re always expected to be accessible. If you’re always accessible, it doesn’t leave much time for enjoying those precious moments in life, like your child’s soccer game. Start by disciplining yourself to unplug and switch off electronics when your work day is done. If you need to stipulate this to your clients and co-workers, then do it. Having quality time with your friends and family and being able to kick back and enjoy life is important. Otherwise, what’s the point of working so hard?

Prioritize Self Care

The reality is we make time for things that we prioritize. If you’re struggling to find a better work-life balance, it may be time to reassess your priorities. While you’re doing this, make sure to add exercise and mediation towards the top of your list. Exercise not only keeps you fit and feeling great, but it also helps to reduce stress. It releases endorphins which literally make you feel good. In addition to exercise, meditation or yoga are very beneficial practices that help calm the body and mind. Spending a few minutes every day focusing on your own self-care is well worth it.

Stop Trying to Juggle It All

Many business owners and overachievers can quickly get sucked into habits of perfectionism. As you wade through life, there can be many obstacles, changes and unforeseen events that can occur where this idea can get abruptly tossed out the window. Trying to juggle everything with strict standards for yourself can become a severe recipe for burn out. By learning to delegate tasks, you can lessen your responsibilities and create more time and space for life.

Ask Someone to Help

It’s okay to ask for help. The reality is, even though it’s easy to read about ways to strike a better balance, it’s always harder to implement. So, ask someone close to you for help! Having people who care for you and support you through these efforts is how you’re going to succeed in accomplishing them.

6 Common Myths About the Canadian Tax System

No one is exempt from paying taxes in Canada! Surprisingly though, many Canadian citizens aren’t’ fully aware of how the tax system work – they have a general knowledge and know how much they are taxed – but they don’t really understand the details. Many people actually believe common myths that have been kept alive for decades. Here are some of them.

If I’m In The Second Tax Bracket, I Pay 20.5% Of My Income

In Canada, the way taxes are calculated is somewhat complicated. If you make less than $46,605, you are taxed at the low rate of 15%. But those in the second tax bracket will be taxed at 15% up until $46,605 and then at 20.5% for the remaining amount up to $93,208.

This incremental approach also applies to the remaining tax brackets. So, for instance if you make over $202,800 you would pay:

  • 15% for the first $46,605
  • 5% between $46,605 up to $93,208,
  • 26% for income between $93,208 and $143,489
  • 29% for income between $143,489 and $205,842
  • 33% for income over $205,842.

If I Pay Federal Tax, I Don’t Have To Pay Provincial Tax

Every Canadian is expected to claim tax for both. In all provinces and territories, except Quebec, the Provincial and Territorial Tax rates for 2018 are calculated in the same way as the Federal Tax Rate. The only difference is that the exact tax rates used will vary by province. You can find the current rates here.

I Can Transfer Termination Pay To My RRSP For Free

Unfortunately, if you lose your job and are issued termination pay, this amount will also count towards your income. Only if you’ve been employed by your company since before 1996, can you be able to transfer any of the termination pay to your RRSP at a tax-free rate.

My Bonuses and Rewards are Not Taxable

The above are considered employee benefits that are indeed taxable and need to be added to your income. This includes any personal bonuses, trips, prizes, and awards. Luckily, most taxable benefits will be included in your statement of employment, but if you’re not sure what exactly qualifies, make sure to talk to a professional who does.

The Employee Stock Options I Purchased are Tax-Free

This is another common myth. If you purchased company shares at a price less than fair market value, the difference should be included in your income. And if this pushes you into a new tax bracket, you will be required to pay taxes at the new rate as well.

All Investment Incomes are Taxed the Same Way

Having a tax strategy is crucial because not all investment incomes are equal and all are taxed differently. It is recommended to allocate assets which generate revenue and are heavily taxed into tax-sheltered investments. Having a professional on your side to help you create a plan that will reduce your taxable investment income, can help put more money in your pocket and keep your tax bracket at an affordable level.

Understanding precisely what contributes to your income and what you can do to reduce your taxes can improve your wealth portfolio. At The Beacon Group of Assante Financial Management Ltd., we can help you do just that. By creating an effective tax plan, we can help you to increase your personal wealth and provide you with the support you need to achieve your financial goals. Contact us today to find out how we can help.

How Do You Know When It’s Time to Retire?

People are living much longer than they did decades ago; the reality is that many couples will live into their 80s and beyond. With that being said, it’s not realistic to think that you can retire comfortably on just your social security benefits. You need to save up a significant nest egg to finance your retirement to avoid going back to work in your 70s or running out of money. So how do you know if you’ve accumulated enough and how do you tell when it’s time to retire?

All Your Debts are Paid Off

Sadly, more and more people are heading into retirement with onerous burdens on their shoulders. If you end up holding a mortgage into retirement or if you’ve recently helped your children or grandchildren pay for school, know that it can be challenging to make these kinds of payments when you’re on a fixed income. Most retirees cannot afford extra payments on credit card debt as they cannot generate more income to repay them. So, if you have monetary obligations that are still not yet paid off, it’s best to settle them before you retire.

Your Savings Will Cover Your Lifestyle

When you retire, your savings portfolio will need to cover the lifestyle you want to live. Some experts estimate that you need to save a whopping 80% per year of your current income to continue to live at the level you are already comfortable with. Saving 80% of your income, even in your later years, is somewhat unheard of. So, know that upon your retirement you will need to live a slightly less extravagant lifestyle. If you feel you’re not there yet, it makes sense to work a little longer to save more before you officially call it quits.

You Have Enough to Cover Health Care

Healthcare fees can be one of the most significant expenses you’ll face in retirement. As you age, there is a possibility that you or your spouse will require a decent amount of money to cover for home care or an old age home. Having an adequate plan that you can afford is essential for when you retire. If you don’t have enough saved up to cover your estimated healthcare costs, it’s best to hold off retirement until you do.

The Market is In Your Favour

The earliest years of your retirement could define how you live in your later years. If you suffer an investment loss in your early years or have even one bad year, your odds of having enough money the whole way through could deteriorate depending on the severity of the loss. If the markets are not in your favour, it may be worth waiting until they start to look more promising and your investments return to a level that will allow you to retire comfortably.

The goal for successful investing is more straightforward than you think – grow your savings to a point where the money will generate enough income to support your lifestyle through retirement. Your goal should be to obtain financial freedom where you can spend time with your loved ones and have your money outlive you. At The Beacon Group of Assante Financial Management Ltd., we help put you on the path to financial freedom so you can retire when you want to, not when you have to. Contact us today.

Effective Ways to Advertise Your Small Business

Looking for a way to grow your client base and improve the revenue stream of your small business? Advertising can dramatically accelerate the success of your business, and there are many different methods and tools you can use to do so. Let us show you some practical ways to advertise your small business and obtain better results.

Creating a Customer Profile

If you’ve not yet established a client profile, this should be the first thing you do before advertising. When you manage a business, you need to understand who your target client is and how you can connect with them on an emotional level. Without knowing who to focus your marketing efforts on, your advertising will not be beneficial, and you will most likely struggle to attract new clients. To pinpoint your target audience, you need to describe the specific person who will buy from you consistently and then identify their characteristics, values, social environments, demographics, and desires. Once you’ve figured this out, you will be able to piece together an advertising plan that will speak to your target audience.

Social Media Marketing

One of the most effective ways to advertise your small business is through social media marketing. This will involve finding the platforms that your clients use – do they love Facebook? Snapchat? Instagram? Pinterest? Once you have an idea of where your clientele spends their online time, you can advertise to them directly by creating posts and ads that direct them to your website or products.

AdWords

Google AdWords is also an effective form of pay-per-click (PPC) advertising for small businesses. Advertisers pay to have their ads and copy placed on pages that are appropriate to their keywords. The algorithm sets the ads where it determines it will be most relevant to achieve the most number of clicks. It’s scalable, measurable and faster than Search Engine Optimization (SEO).

YouTube

More people watch YouTube now than any television network out there. By creating videos about your product, you can target your “ad” to a query that matches your products and services. Using their advertising platform (TrueView ads), your business can target ads to your ideal viewer. One of the main benefits of using YouTube is you only pay when people have watched your video for more than 30 seconds or when they engage with your ad by clicking on your call-to-action.

Newspapers

If you’re looking for a more traditional way to advertise, then newspaper advertising placements are the way to go. Despite what the common perception is, newspapers are still very popular, whether people are reading the digital or print versions. Choosing to use print or digital placements will depend upon your target audience. If you run a business that focusses on attracting older clientele, for example, print versions may be more useful.

Event Sponsorship

You can sponsor an event in your community to promote your company. However, make sure that the target audience is relevant. For instance, if you own a business that markets to seniors, it’s best to sponsor a type of event they commonly frequent. But it doesn’t have to stop there; you can also use this strategy to reach a new market or demographic and to extend your current customer base. Event marketing allows you to get creative and engaging with your marketing efforts, but be sure not to break the bank on huge events before you’re sure they will provide value to your business!

At The Beacon Group of Assante Financial Management Ltd., we can help you make better choices with your business finances. Contact us today!