Gift Now or When You Die?

A Question More Winnipeg Families Are Asking

“Should we help our kids now… or leave it to them later?”

It’s a conversation we’re having more and more with clients here in Winnipeg.

And it makes sense.

Many parents and grandparents are in a position where they’ve built enough to feel secure—but they’re looking at the next generation facing higher housing costs, student debt, and financial pressure earlier in life.

So the question becomes:

Does it make more sense to give while you’re here to see the impact—or pass it on later through your estate?

There’s No One-Size-Fits-All Answer

Just like most things in financial planning, the answer depends on your situation.

But there is one principle we always come back to first:

You need to be financially secure before you gift.

That means:

• Your retirement income is stable
• You’ve planned for longevity
• You’ve accounted for inflation, taxes, and unexpected costs

Once that foundation is in place, gifting can become a very meaningful and strategic decision.

Why More Families Are Choosing to Gift Now

When it fits the plan, gifting during your lifetime can create real impact—not just financially, but emotionally as well.

Here are some of the most common reasons we see:

Helping Pay Down or Eliminate Debt

Reducing or eliminating high-interest debt—like credit cards or personal loans—can dramatically improve someone’s financial position.

It’s not just about the numbers.
It’s about reducing stress and creating stability.

Supporting a First Home Purchase

For many younger families, coming up with a down payment is one of the biggest barriers to homeownership.

A well-timed gift can:

• Accelerate their timeline
• Reduce borrowing costs
• Set them up more securely from the start

Investing in Education for Grandchildren

Contributing to education savings (like RESPs) can have long-term benefits.

You’re not just giving money—you’re helping create opportunities.

Reducing Future Estate Complexity and Taxes

Strategic gifting can sometimes reduce the size of your estate, which may help minimize future tax implications and simplify the estate administration process.

This isn’t about avoiding responsibility—it’s about planning intentionally.

The Emotional Side of Gifting

This part often gets overlooked.

When you gift during your lifetime, you get to:

• See the impact firsthand
• Support your family when it matters most
• Be part of the outcome—not just the intention

For many people, that’s just as valuable as the financial benefit.

When It May Make Sense to Wait

Gifting isn’t always the right move right away.

It may make sense to hold off if:

• Your retirement plan still has uncertainty
• Your income needs could change
• You’re concerned about maintaining long-term independence

That’s why PLANNING matters.

Because once a gift is given, it’s typically irrevocable.

How We Approach This at YourStyle

At YourStyle Financial, we don’t look at gifting in isolation.

We look at the full picture:

• Your retirement plan
• Your income needs
• Tax considerations
• Family dynamics
• Long-term legacy goals

Because gifting isn’t just about generosity—it’s about alignment with your overall plan.

Live for Today. Plan for Tomorrow.

You’ve worked hard to build what you have.

The question isn’t just how much you leave behind—it’s how and when it makes the most impact.

And sometimes, that means giving when it matters most.

Let’s Talk It Through

If you’ve been thinking about helping your children or grandchildren now—or wondering how it fits into your overall plan—we can map it out together.

Clear, thoughtful planning helps you:

• Stay secure
• Support your family
• Make decisions with confidence

Connect with YourStyle Financial to start the conversation.

Because what you’ve built isn’t just about you.
It’s about what matters most to you.

— Doug

How Much Is Enough? $1M, $3M, $5M…

The Question We Get Asked All the Time

“How much do I need to retire?”

It’s one of the most common questions we hear — especially from people here in Winnipeg.

And almost every time, the conversation starts the same way:

“Is $1 million enough?”
“What about $3 million?”
“Should I be aiming for $5 million?”

It’s a fair question. But the honest answer is always the same:

It depends on the life you want to live.

The Problem With Chasing a Number

There’s a lot of noise out there about “the magic retirement number.”

The reality?
A number on its own doesn’t mean much.

$1 million could be more than enough for one person — and nowhere near enough for another.

Why?

Because retirement isn’t just a financial milestone.
It’s a lifestyle decision.

Start With This Instead: What’s Important to You?

Before we talk about dollars, we ask better questions:

• What does your day-to-day life look like in retirement?
• Do you want to travel? Stay close to home? Help your kids or grandkids?
• Are you planning to downsize — or upgrade your lifestyle?
• How long do you want your money to last?

Because once we understand that, we can map out the number.

Not guess it. Not estimate it broadly.
Actually plan it.

Winnipeg Matters More Than You Think

Working with financial planners in Winnipeg, we see firsthand how geography plays a role.

Cost of living, housing, taxes, and lifestyle expectations here are very different from Toronto or Vancouver.

That’s why generic advice doesn’t work.

Your plan needs to reflect:

• Local cost of living
• Manitoba tax structure
• Your actual spending habits
• Your personal goals

What Actually Impacts “Enough”

When we build a financial plan, we’re not just looking at your investments. We’re factoring in:

Inflation

The cost of living doesn’t stay the same — especially over a 20–30 year retirement.

Taxes

How you draw income matters just as much as how you build it.

Fees

Even small percentages can have a meaningful impact over time.

Longevity

People are living longer — which means your money needs to last longer.

The Four Stages We Plan For

At YourStyle, we don’t just focus on retirement. We guide clients through every stage:

Accumulation

Building the foundation and developing good habits.

Growth

Maximizing opportunities while managing risk.

Preservation

Protecting what you’ve built as retirement approaches.

Transfer of Wealth

Ensuring your legacy is passed on efficiently and intentionally.

Because the goal isn’t just to retire.
It’s to do it with clarity and confidence.

So… Is $1M Enough?

It might be.
Or $3M might not be.

That’s the point.

There is no universal number. There is only your number.

And the only way to find it is through planning.

Live for Today. Plan for Tomorrow.

You don’t have to choose between enjoying life now and preparing for the future.

With the right plan, you can do both.

Let’s Build Your Plan

If you’ve been wondering whether you’re on track — or what “enough” really looks like for you — let’s have that conversation.

We’ll map it out clearly, based on your life, your goals, and your timeline.

👉 Connect with YourStyle Financial to start your personalized financial plan.

Because peace of mind doesn’t come from guessing a number.
It comes from knowing your plan.

— Doug

Smart Tax Planning: Creating a Legacy That Gives Back

Part 7 of 7 | Financial Wellness Series

In the final episode of our Financial Wellness Video Series, Doug Buss, founder of YourStyle Financial, joins Rafiq Punjani from Right at Home to discuss how thoughtful tax planning can help families keep more of what they’ve earned — while also supporting the causes that matter most to them.

When Finances Get Tight: How to Reassess and Regain Control

Part 3 of 7 | Financial Wellness Series

In the third installment of our Financial Wellness Video Series, Doug Buss, founder of YourStyle Financial, joins Rafiq Punjani from Right At Home to talk about what happens when someone reaches out for help because they’re struggling financially — particularly later in life.

The First Home Savings Plan

Are you dreaming of owning your first home? YourStyle Financial, a compassionate and understanding financial planning organization in Winnipeg, is here to help you make that dream a reality.

In their latest video, Doug Buss introduces the First Home Savings Plan, a powerful tool designed to help first-time homebuyers save efficiently. YourStyle Financial’s expertise ensures that you can navigate the complexities of financial planning with ease. Their personalized approach and dedication to understanding what’s important to you make them a trusted partner on your journey to homeownership.

Watch the full video on YourStyle Financial’s Media Page to learn more about the First Home Savings Plan and start your journey towards homeownership today.

Manulife’s Are you ready? – The Call

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Manulife’s Are you ready? – The Meeting

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Vacations – Investing in Yourself

There are many good reasons to take a vacation – taking some time away from the stresses of work and daily life to focus on spending time engaging in stimulating (or relaxing) activities with family members and friends in a new setting can recharge your batteries.  It will give you added perspective on your life and work, and you’ll return to your regular routine invigorated and more productive. And your health can be greatly improved. Prolonged periods of work without a vacation have been shown to have numerous medical consequences – people who are “all work and no play” become irritable and inattentive, and are more likely to have accidents on the job.  They are at higher risk of cardiovascular problems, depression, anxiety, and other illnesses, both physical and mental. Your financial plan should be flexible enough that you don’t need to save every last dollar you make for retirement.  Life is about balance, just like vacations are about balance.  By helping you make wise budgetary decisions, YourStyle Financial can help you achieve a balance by making judicious investments – in both your financial future and your happiness today. We will do what many financial planner fail to do – we will find out, in detail, about your wants and needs, before helping you develop a financial plan that fits your personality, individual needs and wants (including vacations), and investment goals.  Then we’ll help you implement it.  When you deal with YourStyle, you aren’t getting a quick one-off session with an investment product salesperson – you’re developing a long-term relationship with a financial planner who has your best interest at heart.

Women need to take an active role in financial planning

When it comes to money, women’s main concern is working on a budget to lower debt and save more money. The second concern is to develop better skills in investing, and third is to create a financial plan and investment strategy. It’s imperative for women to take an active role in financial planning.  There is a very high probability of women being solely responsible for their finances at some point in their lifetime due to divorce or outliving a spouse. Nearly one-quarter of women say they don’t partake in financial decision making. “Women can make changes to their finances such as lower debt, save money and become good investors.  Making changes to your financial plan doesn’t have to be as difficult as it is perceived to be,” says Doug Buss, President, YourStyle Financial.