Trusted Tips and Resources

Trusted Tips & Resources

Trusted Regina Financial Advisors at Worby Wealth Management Provide Their Year End Financial Checklist

Chris Worby and Jeremiah Worby are Trusted Regina based financial advisors and Wealth Management services providers. With over 20 years of experience, Worby Wealth Management has been committed to providing a high standard of financial service to individuals, families and business owners in Regina and area. Worby Wealth Management listens and provides a personalized financial plan. In their latest Worby Wealth Management Trusted Regina Financial Tip, Jeremiah shares their year end financial checklist.


Year End Financial Checklist

by Jeremiah Worby 


It's near the end of another year. You've probably been busy planning parties, planning pranks, and soon to be attending holiday events, but there's one thing that needs your attention – your personal finances.  It's time to start reviewing how much money you have saved up for retirement and other important costs in life. 


HERE'S HOW 


Do you have any RRSP room left for 2022?

If your RRSP room is $10,000 and you have already contributed $6,000 to an RRSP this year, then that means you have only… hold on give me a minute here – carry the 9… oh yeah,  $4,000 of available room for 2022.

If you don't have any remaining RRSP room for 2022, then no other RRSP contributions can be made before year-end.  That being said, if there are other registered plans (e.g., a TFSA) that you haven't maxed out yet for this year, then it may still be worthwhile contributing what is needed to fill up your existing registered plans so long as doing so doesn't exceed their respective contribution limits.


Are your TFSA contributions up to date?

TFSAs are a great way to save for retirement. Straight from the Canadian government’s website



The TFSA program began in 2009. It is a way for individuals who are 18 years of age or older and who have a valid social insurance number (SIN) to set money aside tax-free throughout their lifetime. Contributions to a TFSA are not deductible for income tax purposes. "

Unused contribution room from previous years carries forward to future years.  A quick check with your MyCRA account (or office Dwight – he seems to know everything) should let you know exactly how much TFSA room you currently have.



Have you funded your children's RESPs this year?

Whether you have two children or twelve, saving up for their education is a top priority for lots of families.  The biggest benefit of RESPs is that a grant from the Canadian government of up to $7,200 can be earned over the life of the plan.

The money in an RESP can be used for various education costs, not just for tuition.  There is no tax on the investment earnings as long as it remains in the plan.  Contributions are not tax deductible, however withdrawals called educational assistance payments are included in the student’s income.


Do you have enough life insurance coverage in case something happens to you?

Life insurance is an important part of financial planning.  The question is, do you have enough?  Pro tip: $100 Million is probably more than what you need.

You should consider getting life insurance coverage to protect your family from being left with financial burdens if something happens to you.

It's important to know how much coverage you need and what kind of coverage makes sense for your situation.  You can get a free life insurance quote by contacting Worby Wealth Management.


A review of personal finances at the end of the year makes sense

It’s a good idea to review your personal finances at the end of the year. This way, you can ensure that you are on track with your goals and make adjustments as needed.

You should review:

  • Your financial situation – How much debt do you have?  How much money do you have in savings?  What are your investments doing?  If there is anything that needs to be changed or improved, now is the time for it!
  • Your financial goals – What are some things that need improving?  Are there any new goals that could be set for next year?
  • Investments – Is your portfolio set up for long-term growth or short-term gain? Are your investment goals aligned with your time horizon and risk tolerance (e.g., saving for retirement vs. building wealth).  Have any recent market events caused you to rethink this part of your financial plan?  If yes, make sure to contact Worby Wealth Management for a free second opinion. 
  • Insurance coverage –  Does your current insurance cover all important aspects of your life (e.g., health care, disability income, burial expenses) while still being affordable?  What other types of coverage might make sense moving forward as life circumstances change (e.g., term insurance for those years while you’re still carrying a mortgage).

Conclusion

The end of the year is a good time to review your finances and make sure you're on track for the new year.  It's also a great opportunity to look back at the financial decisions you've made over the past 12 months and see if there might be room for improvement.  If so, now is the perfect time to make those changes!


Questions regarding your year end financial checklist? 

If you have questions about your year end financial checklist, then contact Worby Wealth Management to get your questions answered and start investing in an RRSP, TFSA or other investment accounts today.


Some of the services that Worby Wealth Management can help you with: 


TRUSTED REGINA FINANCIAL ADVISORs Chris & Jeremiah Worby from Worby Wealth Management help you live your dream!


 

The comments contained herein are a general discussion of certain issues intended as general information only and should not be relied upon as tax or legal advice. Please obtain independent professional advice, in the context of your particular circumstances.  This Blog was written, designed and produced by Jeremiah Worby and Chris Worby for the benefit of Jeremiah Worby and Chris Worby who are Financial Advisors at Worby Wealth Management, a registered trade name with Investia Financial Services Inc., and does not necessarily reflect the opinion of Investia Financial Services Inc.  The information contained in this article comes from sources we believe reliable, but we cannot guarantee its accuracy or reliability.  The opinions expressed are based on an analysis and interpretation dating from the date of publication and are subject to change without notice.  Furthermore, they do not constitute an offer or solicitation to buy or sell any securities.  Mutual Funds, approved exempt market products and/or exchange traded funds are offered through Investia Financial Services Inc.

How To Design The Perfect Shower from Trusted Regina Bathroom Store Wheatland Fireplace, Kitchen & Bath

Your first step into the beautiful Wheatland Fireplace Kitchen & Bath Regina showroom will help you understand why Wheatland has been given the Thumbs up by Trusted Regina in the bathroom category. Wheatland loves their customers and as a result, their customers love and TRUST them. In their latest bathroom tip, they discuss designing the perfect shower.



How To Design The Perfect Shower

Designing the perfect shower should be a customized experience based on your needs and the layout of your bathroom. By using Fleurco's Design a shower tool you will be guided through a seamless process to design the shower of your dreams. Here are the simple steps to building a shower space to fit into your perfect bathroom:

1) Select the door type that suits the style of the bathroom you are creating and to fulfil your configuration needs for in-line (alcove) showers, two-sided showers and bathtub enclosures.
  • Bypass: 2 sliding panels, allowing entry from either side of the enclosure.
  • Sliding Shower: 1 sliding panel for shower access.
  • Pivot: 1 outward swinging door, with or without a fixed panel.
  • Walk-in: European style, with an open entry to the shower space.
  • Corner Shower: A space-saving solution designed to fit in the corner of a bathroom.
2) Measure your door opening. This is the most important step in the design process to ensure a quick and easy shower door installation. Keep in mind that your dimensions must be measured with finished walls.

3) Select your door style. Fleurco collections are expertly designed to enhance bathrooms of all styles, including framed or frameless looks. 

4) Add personality to your shower by selecting your hardware finish. Doors can be adorned with a variety of finishes including chrome, brushed nickel and matte black.

5) Select your base for a seamless look. The majority of bases are constructed from acrylic and come with a 10-year limited warranty. They are easy to install, clean and maintain, and are available with several drain placement choices.

If you're looking for something more elevated in style, opt for a solid surface base instead. They are available in several different styles and functionalities.

6) Take your shower enclosure a step further by including a Fibo by Fleurco Wall System. With 7 luxurious patterns to choose from, you will be sure to find what you need.

7) Complete your bathroom with coordinating accessories. Beautifully designed shower shelvesnichesLighted Mirrors, LED Medicine Cabinets, and Medicine Cabinets and Vanities will complete your bathroom space, adding both style and function.


Wheatland Fireplace, Kitchen & Bath are successful for a reason! This really is where your outdoor living and indoor fireplace, bathroom & kitchen dreams meet in spectacular surroundings! Wheatland services and installs high-quality fireplaces, Visit their website or stop by their showroom to feel the warmth and comfort of their amazing selection.

Trusted Regina Fireplace Experts at Wheatland Fireplace, Kitchen & Bath Share Wood Stove & Fireplace Trends

Your first step into the beautiful Wheatland Fireplace Kitchen & Bath Regina showroom will help you understand why Wheatland Fireplace has been given the Thumbs up by Trusted Regina as your exclusive Trusted Regina fireplace store. Wheatland loves its customers and as a result, its customers love and TRUST them. In their latest fireplace tip, they share current trends for wood stoves and fireplaces. 

Current Trends - Wood Stoves and Fireplaces

Wood stoves and fireplaces tend to become the focal point of a room, and even of a home. And they bring people together. In the cold winter months and on chilly evenings, it is often around the fire that people gather to create lasting memories. It is therefore important that this appliance fit into the decor, while also suiting the lifestyle and meeting the needs of the home’s occupants.

Whether you’re thinking of getting a wood stove or fireplace installed in the near future or want to spruce up your existing appliance and the room it’s in, get inspired by current trends.

Wood-burning fireplaces evoke warmth and elegance

Setting up a fireplace area lets you create a focal point in the room. The goal is to fashion a cozy, comfortable and inviting atmosphere. The latest trend is natural colours and materials, like a wood beam for the mantlepiece or field stone cladding. While very popular, wood cladding is not recommended for this project, as most wood stove and fireplace manufacturers require non-combustible materials within a certain radius of the appliance. For a similar effect, you could also opt for concrete that looks like wood. Several specialized companies, like Béton Architectural Johnstone, offer products with very realistic finishes, for a safe version of the look you had in mind. You could also make attractive log holders an integral part of your decor.

The important thing is to think minimalistic. Pick one element as the main focus. It could be your fireplace, a painting, a sculpture or other. You can beautify your fireplace area with a few decorative items, preferably in understated colours that call to mind natural materials like cotton and linen. For an uncluttered haven, pare down your options to only a few key objects. As for the overall colour scheme, the current trend is tone-on-tone (different shades of the same colour).

There are several combinations you can choose from to create a cozy cocoon. Select an original mantlepiece and decorative items that will showcase the play of the flames, exuding warmth and relaxation in the spirit of this year’s trends.

Wood-burning stoves create a relaxed and refined mood

Sleek, modern-looking wood stoves are very in and their minimalism complements all styles of decor. Select an appliance model and decor that best reflect your personality to add a one-of-a-kind touch to your home. With 80s furniture back in fashion, rattan chairs or an angular sofa will create a bold look. If you prefer more classic decor, featuring noble, natural materials like leather or marble, a contemporary wood stove will fit in beautifully.

One thing is certain, wood-burning stoves have become a design element, holding pride of place in a home’s gathering spaces. Beautiful, functional and timeless, modern wood stoves adapt to the activities of the house or cottage’s occupants. Some offer a variety of fire views while others are marvels of architectural design. There are even freestanding fireplaces that can become part of the furniture. They can be installed just as quickly and easily as a traditional wood stove, while offering a polished look that will turn heads. 

Adding accessories around the stove will also enhance your decor while clearly defining the area. The portable log holders and floor-protecting hearth pads seen on the market over the last several years are as beautiful as they are practical. These two must-have elements reinvent the space while making your stove more commanding and giving it prestige.

Finally, whether you’re setting up a nook for your fireplace or your wood stove, the important thing is that it be inviting. Achieving harmony between your appliance, finishes and accessories will make you want to spend hours by the fire.


Wheatland Fireplace, Kitchen & Bath are successful for a reason! This really is where your outdoor living and indoor fireplace, bathroom & kitchen dreams meet in spectacular surroundings! Wheatland services and installs high-quality fireplaces, Visit their website or stop by their showroom to feel the warmth and comfort of their amazing selection.


"Better Living Begins Here... At Wheatland, it is ALL ABOUT YOU!"

Wheatland Fireplace Kitchen & Bath are your Trusted Regina Fireplace Store 



Wheatland Fireplace, Kitchen & Bath Share How to Find the Right Sized Gas Fireplace for Your Home

Your first step into the beautiful Wheatland Fireplace Kitchen & Bath Regina showroom will help you understand why Wheatland Fireplace has been given the Thumbs up by Trusted Regina as your exclusive Trusted Regina fireplace store. Wheatland loves its customers and as a result, its customers love and TRUST them. In their latest fireplace tip, they share how to find the right sized gas fireplace for your home. 

How To Find the Right Sized Gas Fireplace for Your Home


Typically, gas fireplaces are classified into four sizes – small, medium, large, and extra-large. As a basic benchmark, a small gas fireplace will heat less than 500 sq. ft., a medium gas fireplace will heat between 500 – 1,000 sq. ft, a large gas fireplace will heat between 1,000 – 2,200 sq. ft., and an extra-large gas fireplace will heat over 2,200+ sq. ft. These figures are based on an average size, single-story home in a moderate climate, and an open floor plan.

Pro Tip: Quickly measure the size of the space you are looking to heat to quickly and easily categorize the size of your fireplace needs by measuring the Length (L) and Width (W). L x W = Sq. Ft. 


Standard Gas Fireplace Square Foot Heating Capacity

  • Small Gas Fireplace: less than 500 sq. ft.
  • Medium Gas Fireplace: 500 - 1,000 sq. ft.
  • Large Gas Fireplace: 1,000 - 2,200 sq. ft.
  • Extra-Large Gas Fireplace: 2,200+ sq. ft.
Note: this is simply a benchmark. A fireplace’s actual heating capacity will vary dramatically based on a high number of factors, see below for more details, and always discuss sizing and installation with an Authorized Regency dealer.


Factors Affecting Gas Fireplace Heating Capacity?

There is a wide variety of factors that can influence the heating capacity of your gas fireplace, insert or stove, some of these include:
  • Ceiling Height 
    • The total volume of the room can drastically change the heating capacity of a gas fireplace
  • Insulation
    • Older poorly insulated homes will decrease the heating capacity of a fireplace, whereas new highly insulated homes may increase the capacity of the fireplace
  • Number of Windows
    • Windows (even dual-pane) are a source of cooler air, and the more windows in a home/room, the greater the obstacle to the fireplaces heating capacity
  • Room/Wall Layout
    • Open rooms vs. homes with lots of walls will affect how effective the fireplace is at heating an area
  • Other Vented Appliances
    • Is there a hood vent in the same room as the fireplace? A dryer? Other appliances that require external venting can affect the draft and efficiency of your gas fireplace.​

Wheatland Fireplace, Kitchen & Bath are successful for a reason! This really is where your outdoor living and indoor fireplace, bathroom & kitchen dreams meet in spectacular surroundings! Wheatland services and installs high-quality fireplaces, Visit their website or stop by their showroom to feel the warmth and comfort of their amazing selection.


"Better Living Begins Here... At Wheatland, it is ALL ABOUT YOU!"

Wheatland Fireplace Kitchen & Bath are your Trusted Regina Fireplace Store 



Choosing The Right Fireplace Stove For Your Cabin By Trusted Regina Wheatland Fireplace, Kitchen & Bath

Your first step into the beautiful Wheatland Fireplace Kitchen & Bath Regina showroom will help you understand why Wheatland Fireplace has been given the Thumbs up by Trusted Regina as your exclusive Trusted Regina fireplace store. Wheatland loves its customers and as a result, its customers love and TRUST them. In their latest fireplace tip, they share the ins and outs of choosing the right freestanding stove for your cabin or cottage.

Choosing The Right Freestanding Stove For Your Cabin


A freestanding stove is a great addition to any cabin or cottage. Freestanding stoves add unmatched warmth, comfort and heating capacity while also creating that atmosphere that is quintessentially cabin – nothing beats sitting in your cabin and staring at the fire. But which freestanding stove is right for YOUR cabin? There are so many styles and types to choose from; this guide will give you a brief breakdown of the different styles of stoves, fuel types available, and the benefits of each.


Step 1: Choose Your Fuel Type


Cabin Friendly Wood Stoves
Wood-burning stoves are the most popular for cabins and cottages. For hundreds of years, freestanding wood stoves have been used to heat off-the-grid cabins and vacation properties. Due to the remoteness of these locations and the usual abundance of wood, Wood stoves are a favourite for heating cabins. Nowadays however there are multiple different types of wood-burning stoves, the most common being non-catalytic and catalytic wood stoves.

Non-Catalytic Woods Stoves & Your Cabin
A non-catalytic wood stove uses air tubes and super-heated oxygen to mix with and generate a secondary burn with the gasses and particulates released from burning wood. This results in fewer emissions and greater efficiency.

Key Benefits of Non-Catalytic Wood Stoves
  • Easy Operation
  • Highly Efficient
  • Mid-Long Burn Times
  • 2020 EPA Certified
  • 96% Reduction in Emissions
  • Limited Lifetime Warranty
Non-catalytic stoves are well suited to someone looking for a straightforward, traditional wood-burning stove. Things to consider for non-catalytic stoves are whether you use your wood stove for supplemental heat, do not live in an extremely cold climate, only use your wood stove occasionally, or want to prioritize straightforward operation over burntimes. In addition, these units are better suited to rental or holiday homes as operating them is very straightforward.

Hybrid-Catalytic Wood Stoves & Your Cabin
A catalytic wood stove uses a catalytic combustor to re-burn the gasses and particulates that are released from the burning wood. These gasses pass through the catalytic combustor, which operates at very high temperatures, and combust – providing increased efficiency, fewer emissions, and longer burn times.

A hybrid catalytic wood stove uses both air tubes and a catalytic combustor to burn the gasses and particulates three times – resulting in extremely efficient fires, very limited emissions, and the longest burn times. After initial combustion, the gasses and particulates from the burning wood are mixed with super-heated air and combust a second time. After secondary combustion the remaining gasses and particulates are funneled through the catalytic combustor where they are then ignited for a third and final time, removing virtually all particulates and gasses.

Key Benefits of Hybrid-Catalytic Wood Stoves
  • Hyper-Efficient
  • Very Long Burn Times
  • Stable Heat Output
  • 2020 EPA Certified
  • 98% Reduction in Emissions
  • Limited Lifetime Warranty
  • Industry Leading 10 Year Catalyst Warranty
Catalytic stoves/Hybrid catalytic stoves are ideal for serious wood burners who are seeking longer, overnight burns. If you live in a very cold climate and/or are using your unit as the primary heat source in your home or if you are an eco-conscious consumer looking for the lowest emission wood-burning product available a hybrid catalytic wood stove will be your best fit.


Cabin Friendly Gas Stoves

While lots of people like the look and feel of a traditional wood-burning stove, many don’t want the effort that goes along with splitting, stacking, chopping & hauling wood as well as building and maintaining a wood fire. Luckily there are freestanding gas stoves that give the same look feel, warmth & ambience of a wood stove, but with the convenience of gas. Freestanding gas stoves come in a variety of styles including contemporary, modern, traditional & cast iron so you can replicate the charm, style and beauty of a wood stove without the need for wood!

Natural Gas Freestanding Gas Stoves & Your Cabin
If you have a natural gas line running to your property this is likely the best option for adding a gas stove to your cabin. Natural gas lines are rare in some parts of the country and in the vast majority of “cabin country” so chances are this is not an option for you. Luckily, all Regency gas stoves can be converted to run off liquefied propane as well using a simple conversion kit.

Propane Freestanding Gas Stoves & Your Cabin
Propane is the most common gas used when installing a gas stove in your cabin. Typically an existing propane tank or infrastructure will already be set up prior to the purchase of a stove, but if not you can install a large propane tank (likely a 250-500 gallon tank depending on usage) that will sit on your property and provide storage for the propane used to heat your house.


Step 2: Find Your Size

Standard Wood Stove Square Foot Heating Capacity
  • Small Wood Stove: less than 500 sq. ft.
  • Medium Wood Stove: 500 - 1,000 sq. ft.
  • Large Wood Stove: 1,000 - 2,200 sq. ft.
  • Extra-Large Wood Stove: 2,200+ sq. ft.
Note: this is simply a benchmark. A wood stove's actual heating capacity will vary dramatically based on a high number of factors, see below for more details, and always discuss sizing and installation with an Authorized Regency dealer.

Factors Affecting Wood Stove Heating Capacity?
There is a wide variety of factors that can influence the heating capacity of your wood-burning stove, some of these include:
  • Ceiling Height - The total volume of the room can drastically change the heating capacity of a wood stove
  • Insulation - Older poorly insulated homes will decrease the heating capacity of a stove, whereas new highly insulated homes may increase the capacity of the stove
  • Number of Windows - Windows (even dual-pane) are a source of cooler air, and the more windows in a home/room, the greater the obstacle to the stoves heating capacity
  • Room/Wall Layout
    • Open rooms vs. homes with lots of walls will affect how effective the stove is at heating an area
  • Type of Wood - The type of wood you are burning will produce a variety of different BTU’s – see the highest BTU wood types here

Step 3: Contact Your Local Fireplace Dealer

Did you know that all fireplaces need to be professionally installed to ensure safe and efficient operation? Many people think they can install them all by themselves, especially in their cabins. All gas appliances need a licensed gas fitter to hook up the gas lines, and modern EPA-certified wood stoves are very precise combustion systems. Failure to install a wood stove correctly can result in poor burn times, inefficient burns or dirty burns that release too much particulate matter into the atmosphere, or an increased risk of fire.


Wheatland Fireplace, Kitchen & Bath are successful for a reason! This really is where your outdoor living and indoor fireplace, bathroom & kitchen dreams meet in spectacular surroundings! Wheatland services and installs high-quality fireplaces, Visit their website or stop by their showroom to feel the warmth and comfort of their amazing selection.


"Better Living Begins Here... At Wheatland, it is ALL ABOUT YOU!"

Wheatland Fireplace Kitchen & Bath are your Trusted Regina Fireplace Store 



Previous Posts

ADDRESS

S & E Trusted Online Directories Inc
TrustedRegina.com
310 Wall St #209
Saskatoon, SK   S7K 1N7
Ph: 306.244.4150

GET THE APP

App Store Google Play
Follow us on Facebook Instagram Linked In Twitter YouTube RSS Feed
Abex
Abex
Stevies
Sabex
NEYA
Website hosting by Insight Hosting