O'Neill Review | Spring 2021
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Dear Friends,
After a gorgeous weekend of sunshine, it feels like winter may be coming to a close, and I hope you were able to take advantage of it. My garden is already showing signs of life. Speaking of life…this time of year often sees me in Las Vegas for my traditional birthday and Super Bowl celebration weekend with the Boys, sharing fine wine and laughs and enjoying great food and friendships. While the football game was exciting this weekend was monumental for other reasons. My partner Rajnee and I welcomed our son, Nicholas Maxwell O’Neill into the world on Friday morning at Women’s Hospital. Weighing in at 9lbs 8oz and over 20 inches in length he is also rocking a full head of hair. Both Mom and Baby are happy and healthy. Our hearts are filled with love and gratitude and we are looking forward to the future with our little man. ** Pictures at the bottom of the newsletter.
Cheers,
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Before boarding the plane,
be sure you're covered!
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B.C. doctors can now prescribe national park pass to patients who need nature time
Doctors in British Columbia can now prescribe a national park pass to patients in need of the physical or mental health benefits offered by time spent in nature. Canada’s national nature prescription program, PaRx, has announced a new collaboration with Parks Canada allowing its registered, licensed health-care professionals to provide a free annual Parks Canada Discovery Pass to patients. “We have a standard recommendation, based on the latest research, that patients spend at least two hours a week in nature and at least 20 minutes each time,” said Dr. Melissa Lem, family physician and PaRx director. “So this is all about breaking down those barriers to access to nature.” An annual Parks Canada Discovery Pass costs about $72 per adult. Only those physicians registered with PaRx can prescribe them, and while “anyone with any health condition” qualifies for a nature prescription, Lem said physicians are encouraged to target the park passes.
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Before boarding the plane, be sure you're covered!
International travel these days poses many challenges, with the PCR testing and ever-changing rules and restrictions. The one thing that is clear is that before boarding a plane, you need to ensure you have the right travel coverage!
Click here to read more.
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I am deviating from the usual insurance related material to write about one of my passions, boating! In the last two years, travel restrictions have led to a great deal more travel in our own backyards and waterways. As a result, there has been a noticeable increase in the number of new boaters on local waters. For some, it is the realization of a lifelong dream and for others it’s a bold new adventure they had never previously considered. Regardless, there is an unending list of things to learn and put into practice to make the experience enjoyable for everyone.
Click here to read more.
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With another RRSP season in full swing, I find many people share a common question:
Is it better to contribute to a RRSP or a TFSA?
The simple answer is both! But a better answer depends on your current financial situation and your specific investment goals. While a TFSA is a great opportunity for tax-free growth and withdrawals, a RRSP still serves as an effective way to lower your tax bill in the current year and grow your funds tax-deferred.
For many investors it makes sense to contribute to a combination of RRSP’s and TFSA’s. The exact weighting allocated to each type of account will be dependent on your short-term and long-term goals.
The following article provides a brief overview of the differences and considerations when choosing the allocation between RRSP or TFSA accounts.
As a reminder, March 1st, 2022 is the deadline for 2021 RRSP contributions. Please do not hesitate to get in touch to further discuss your RRSP & TFSA options.
Click here to read more.
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Nicholas Maxwell O'Neill - born February 11, 2022
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