Employment Standards Act - What You Should Know

There is that saying ... Knowledge is Power. There is so much truth in that, especially when it comes to employees and employers. There are rights afforded to all workers and it is important for everyone in the workplace to know the rules and rights.

At Continuum II Inc. we wanted to share some very important information about workplace rules, rights and regulations.

The Employment  Standards Act, also known as the ESA, is a law that sets minimum standards for workplaces in Ontario. It covers a range of employment standards including:  minimum requirements for workplaces; provisions to assist employees with family responsibilities; increased flexibility in work arrangements; and mechanisms for compliance and enforcement.

Book Excerpt: Financial Care For Your Aging Parent

Lise Andreana recently released her latest book Financial Care for Your Aging Parent, published by Self-Counsel Press. Last month The Globe and Mail printed an excerpt of the book. We wanted to share that with you here as well.

Book Excerpt: Five financial questions to ask your aging parents

Lise Andreana

Contributed to The Globe and Mail

Excerpted with permission from: Financial Care for Your Aging Parent by Lise Andreana, Published by Self-Counsel Press.

The Five Wishes

Five Wishes is a tool for developing an advance directive document, including the living will, and was developed in the United States. It talks about the person’s emotional needs, medical wishes, and spiritual needs. Developed in part by the American Bar Association to help people deal with the legal problems in end-of-life care, this model can also be used informally in Canada as a starting point for discussion.

If you are working with your elderly parents, choose a quiet moment to introduce a conversation about the five wishes concept. You may be surprised by their answers. It is a good idea to document the answers. American readers can formalize the five wishes as part of their legal documents. Canadian readers may add a signed and dated letter outlining their five wishes to their Power of Attorney and will documents.
Five Wishes allows a person to spell out exactly how he or she wants to be treated should he or she become seriously ill. Note that specific funeral instructions, memorial services, and burial requests may be included in this document. Give your parent time to think about the following questions.

A Case For Consolidation

Are you putting all of your financial eggs in one basket?

There is that old saying don't put all your eggs in one basket BUT in this blog post we want you to reconsider that old adage. Sometimes there is something to be said for putting many eggs in one  basket.  Several studies have shown an overwhelming majority of investors intend to consolidate all their assets with a single adviser upon retirement. As noted in a recent Globe and Mail article, "According to the World Wealth Report 2013 from Capgemini and RBC Wealth Management, 55 per cent of Canadians who had $1-million or more in investible wealth said they preferred to work with only one firm to manage all their finances. Only 13 per cent wanted to deal with multiple firms." The article discusses the benefits of consolidation. The idea of consolidation really comes down to simplifying your financial plan, again it is the idea of putting many, diverse eggs in one basket.

LINK: http://www.theglobeandmail.com/globe-investor/advisers-view/many-eggs-one-basket-the-case-for-merging-your-accounts/article19329384/


There are a number of key takeaways from the Globe and Mail article. 

A Financial Plan is Like a Good GPS System

Peter Andreana, CFP with Continuum II Inc. in Burlington, Ontario, uses the analysis of the GPS system in your car to explain how the financial planning process is quite similar: you need to know where you are starting from and where you want to go before you start driving.

Most importantly, if you have a great map, you can be confident that you will get to your destination.

Hear more of Peter's insights in this short video.