Our Mission

We believe that you need the tools to create financial success on your own terms.

Conflict-free financial planning equips you to make educated decisions about your future with the information available to you today.

Our Mission

We believe that you need the tools to create financial success on your own terms.

Conflict-free financial planning equips you to make educated decisions about your future with the information available to you today.

Julia Chung, CFP, CLU, FEA, TEP

Julia Chung, CFP, CLU, FEA, TEP

Partner, Sr. Financial Planner

Areas of Specialty: Retirement Planning, Private/Family Business, Cross-Border Planning

Sandi Martin, CFP

Sandi Martin, CFP

Partner, Financial Planner

Areas of Specialty: Retirement Income Planning, Family Goal Planning

Kathryn Mandelcorn, FMA

Kathryn Mandelcorn, FMA

Director, Cash Flow Strategies

Areas of Specialty: Money Coaching, Cash Flow Planning

 

 
 
 
 

Connect with the team on social media

What We Do at Spring

We believe that you need the tools to create financial success on your own terms…whatever they may be. Although our process is the same with every client, the outcomes are always delightfully different, and as unique as the people we have the privilege to work with every day.

Your values are the driving force behind any recommendations we make.

We want our recommendations to our clients to be influenced only by what’s in your best interest, and never by the potential for referral fees or third-party compensation.

We don’t sell products , accept commissions, pay or receive referral fees, or earn affiliate income.

We sincerely believe that financial planning – done well – can benefit everyone, and are actively invested in mentoring and developing new financial planners.

We’ve been running a practice management peer-mentoring group since early 2016…it’s how we met, in fact!

  • Comprehensive Financial Planning
  • Retirement Income Planning
  • Cross-Border Planning
  • Family/Private Business Planning
  • Portfolio and Cash Flow Audits

Our Process

Discovery

More than just document collection, we want to understand your personality, values, and strengths so our work together is productive and valuable.

Analysis

We roll up our sleeves and dig in, putting our expertise to work in testing our assumptions and developing concrete recommendations for you to follow.

Implementation

Your plan is only the beginning. We’re here to help implement your action list and adjust your plan as life unfolds.

What We’re Writing

The Best In Canadian Personal Finance News

The point: There are all sorts of people online that write all sorts of personal finance advice. I read about sixty posts a day, and share some of the best on Twitter, Facebook, and Google Plus. Jackson Middleton and I are collaborating to put the best Canadian...

Making it on his own

Sam Omeretti feels financially ready to live on his own. His parents aren’t so sure.

What I’ve Been Reading While I Haven’t Been Writing

The point: It's been a busy week here at Spring Personal Finance, and client commitments trump writing commitments. I've always got a few minutes to read, though, and the best in Canadian personal finance news every week to an open list I share with +Jackson...

Free Money for School: A Guest Post for Renegade Planner

Julia Chung from Spring Financial Planning is excited to provide a guest post for Renegade Planner, a “Startup Concierge” that helps businesses grow and learn.  Jessica Oman, the founder of Renegade Planner, is providing tips and information to her business owner audience on personal finance, something that really does confuse everyone.

Julia’s article “Free Money For School: Yes, Even Entrepreneurs Can Save for Their Children’s Education” provides a clear outline of how to use the RESP (Registered Education Savings Plan) to maximize grants, reduce taxes, and pay for post-secondary school.

Income Splitting with Spousal Loans

Ah, tax strategies. Eyed with hopeful suspicion by the uninitiated, a tax strategy can feel like a fun Spy Vs. Spy game - but that other spy? That’s the government. Many a newly minted spy would consider backing away from anything that might have you facing that...

Kickin’ Chickens

Whether you’re gathering eggs, building a reputation, gathering customers, or just making enough money to pay the bills, you can choose to kick chickens like everyone else, or you can stop and think of a better way.

RRSP Basics

Many people feel pretty confused about RRSPs – how they work, and why they’re useful. At the same time, people can feel embarrassed to ask for a full explanation. 

To help you move forward with this useful tool, here is your RRSP Primer!

Paying Your Taxes With Plastiq is a Bad Idea.

The point of this post: don't pay your taxes with your credit card. Ever. The big news today (for money nerds who read every scrap of money-related news, that is) is that through the online payment system Plastiq, you can put your income tax payment on your credit...

Why Budgets Don’t Work (The Real Reason)

Helaine Olen, author of Pound Foolish: The Dark Side of Personal Finance, says in an article for Slate that budgets don't work because hardly anyone's income is predictable and somehow the government is to blame. That budgets- in fact - "offer the illusion, not the...

Why Your Rate of Return Matters (and what to do – and not do – with it)

I sent my kids to school on the day after Labour Day with a feeling that it hadn’t been a great summer. We hadn’t gone swimming or canoeing enough. I worked too much. Woe, etc. This isn’t a new feeling. Friends will testify that I become a mopey sad-sack in the last...

Why You Don’t Want Your Child to Be a Genius

“Find experts in the fields that your child is interested in,” said Julia Chung of Spring Financial Planning. “Talk to them and ask them for help and support. You’d be surprised how many people are willing to help.”

Practice News: Collaboration with JYC Financial

It's the best time of the year! Summer in Muskoka with three young kids means lots of late afternoons at the beach, so if you happen to be in Gravenhurst on a sunny day right before dinner...you'll know where to find me.Typically, the summer months are when I try to...

What I Want For You In 2015

My hope for you this year is that – no matter what your circumstances – you take the time to get really, really clear about what those circumstances actually are, and plan to repeat the process when they change.

Money Matters: Take Control

Julia Chung’s article in the Spring 2016 PowHerHouse magazine outlines the basics of goal setting.

Dear Everyone, Mutual Funds Are Boring. Please Go Buy Some.

Mutual funds are profoundly boring, although their ETF cousins have been known to be a little saucy. As an investor, you probably have a vague feeling that by buying mutual funds, you're performing the financial equivalent of buying a pink tract home and driving the...

Capital Dividend Account: Changes to Note

The March 22, 2016 federal budget has resulted in significant changes to the credit to the capital dividend account arising upon the receipt of life insurance proceeds. While these proposals are not yet final, it is expected they will be enacted before the end of 2016 with certain retroactive effect.

Success = Joy + Freedom

Have you ever set goals and just felt kind of… “meh”? Julia’s latest article for Niche Magazine gets to the heart of why that happens, and how you can change it.

Couple Money

The point of this post: if you can't be honest with your partner about money and financial planning, why are you with them? A healthy financial infrastructure is cost-effective, simple, flexible, and intuitive. It keeps you on budget, moves you closer to your goals,...

Introducing: Kathryn Mandelcorn

We are thrilled to announce the addition of Kathryn Mandelcorn to our planning team!

August’s Great Reads

I love my reading list this month, I really do. I know I say that almost every month, but guys: there’s some real gold in here for everyone, whether you’re spending the month of August toiling away at work like you do every month, relaxing in a canoe or on a beach...

Important Changes to the Principal Residence Exemption

On October 3, 2016, Finance Minister Morneau announced new measures to address the housing market, with the intention of improving fairness and integrity of the tax system as it relates to the principal residence exemption. The changes include new reporting requirements, modifications to the calculation of the tax-free amount for individuals based on a residency requirements, and an extension to the period in which a reassessment may occur.

BC Real Estate Taxes

Owning residential real estate in British Columbia is expensive, as you well know, and thanks to recent changes on both a provincial and municipal level, it’s also a great deal more complicated. Most of the changes were brought about by BC’s 2018 Budget, but a few of...

Three Great Reads You Might Have Missed

It's great to be back in the reading saddle again, and have I got some outstanding pieces for you! For those of you who are new around these parts, I'm a reader. (My friend Noel asked me the other day if I'd gotten to the last page of the internet yet. I haven't, but...

See, Now This Just Makes Me Angry

"If you were to assume that many experts use their information to your detriment, you'd be right. Experts depend on the fact that you don't have the information they do. Or that you are so befuddled by the complexity of their operation that you wouldn't know what to...

What I Want for You in 2017

What I dearly want for you this year is structure. (Just what you'd expect from an introverted money nerd who once answered "spreadsheets" when asked to name one thing that made her happy to her son's kindergarten circle, am I right?) Listen, when you hear "structure"...

Canada Pension Plan Maximums January to December 2016

With few exceptions, Canadians over 18 who work in Canada and earn more than the minimum amount ($3,500) must contribute to the Canada Pension Plan.  Your contributory period starts at  the time you begin work and ends at retirement.

Rainbows and Unicorns: What lenders really mean when they say “affordable”)

The point of this post: it's your job as the borrower to figure out if you can actually afford the mortgage the bank says you can. When you think about how much money you make, do you use made up numbers or real ones? If you think that's a strange question, then...

Take Their Business… Please

“We’ll be there between 10 and 2 on Tuesday.”

This is not a utility company, which generally has customers at their mercy due to a bureaucratic structure that has legislated monopolies. This is a furniture company – a “high end” one at that. A private business that, just like any other business, needs its customers.

Double the Trouble…

Two kids in university at the same time means double the costs. The secret to saving for – and affording – two.

Incoming: Avoiding The Useless Retirement Plan, Part Three

The point: Retirement planning using general assumptions about your future income is just retirement guessing. And - surprise - it's useless. Seriously? Three posts into a retirement series and we haven't even answered the question "how much do I need to retire?" To...

April 2018 Update

Have you ever felt like everyone is working with the same set of information that you are - and therefore, sharing it would not be valuable? It’s a cognitive bias called “false-consensus,” which leads people to believe that their own values and ideas are “normal” and...

The Screaming Ninjas Are Coming

The point: Learning to live within your means is discipline you have to practice. Financial catastrophe always strikes, and having the necessary skills already mastered will mean the difference between dealing with it and moving on or being overwhelmed and giving up....

Is my pension… a pension?

“I have a pension through my employer,” says Tim*, in a recent call. “But I don’t understand it.” If you’re like Tim, you’re not alone. In Canada, we have many different potential sources for retirement income, with all kinds of different names. Pensions can be...

Go Ahead, Spend Your Tax Refund

Ah, spring. The time of year when flowers bloom, birds sing, and the entire internet starts yelling at you for getting a tax refund or - even worse - getting a tax refund and then spending it.The horror.The conventional wisdom goes something like this: You shouldn't...

A Little Discouragement To Start You On Your Way. You’re Welcome.

The point: Learning to live on a budget is hard. Pretending it's not is stupid, and counter-productive, and will eventually end up being the reason you quit. Let’s talk about the most important part of personal finance: debt repayment investing budgeting. I’ll wait...

Pension Income Splitting

Yes, you can still split your pension income. The income splitting credit that the new Federal Government vowed to abolish in their 2015 election campaign was the Family Tax Cut. The opportunity for pensioners to split their qualified pension income with their spouses is still alive and well.

RESP Rules & Tips with Sandi Martin & Julia Chung

Summer is the best time to learn about saving for post-secondary education. Julia Chung and Sandi Martin chatted with Modern Advisor on July 21st. Click here for the recording.

How Much Do Mutual Funds Cost, and Relative to What? Part Two

The point: management expense ratios do a poor job of communicating the price you're paying for a mutual fund and the value you're getting in return. This is the second of a two-part rant, and you can find the first part here. If you walked into the grocery store...

Fun With Retirement Calculators

The point: retirement calculators are only as good as the information you put in them and the underlying assumptions of the calculator itself, and are useful only to model the future, not predict it. The lure of the retirement calculator is that it will tell you your...

November’s Great Reads

I noticed when I was reviewing the articles I’d marked for sharing with you lovely people that there’s a pretty heavy behavioural finance theme in this month’s reading list, so if you’re a fan of behavioural finance theory, you’re in for a treat. If you’re not a...

Those February Markets

In December and January, we talked quite a bit about the perils of uncertainty and how to deal with them. Then - BAM - the February market came and showed us just what uncertainty looks like. So basically, our publishing schedule is a month or two ahead¹. What Do We...

Business Model, Schmizness Model

The point: Financial advisors who are compensated based on how much money you have invested with them have less time for the equally complex needs of less affluent clients. You know the old saw "you have to have money to make money"? Apparently you also have to have...

April’s Great Reads

I have a short reading list for you this month, since most of us are either rushing to file our taxes or rushing to get outside after a long, cold winter. Notable articles that didn’t quite make the top three include this one from Andray Domise on how - if 40% of...

Dear Big, Enormous Bank With Little Competition, Please Blow My Mind

Hi. You probably don’t remember me. I was one of a series of warm bodies in that cubicle in Newmarket, the office (with a door!) in Huntsville, and the other office (with a window!) in Bracebridge. I mostly didn’t meet my sales targets and never made my cold-call...

Corporate Control: When Are Corporations Associated?

Associated corporations share the SBD, which provides access to a low tax rate on the first $500,000 of operating income.  Obviously, this could be a concern to small business owners.

How Your Advisor’s Bad Investing Behaviour Costs You

The point: Yes, your own bad investing behaviour costs you, but your advisor's bad investing behaviour has the potential to cost you a lot more. First off: I'm not a portfolio manager or an investment advisor (or adviser, for what it's worth). I was a registered...

Frugality Isn’t A Virtue

The point: being frugal just for the sake of being frugal isn't being virtuous. It's being cheap. Let's pretend this is the first time you've been on the internet, and you feel like you need personal finance advice (one of these scenarios is probably easier to imagine...

The Surprising Downside of a Sunny Retirement

If your residency is changing, it may affect how you’re taxed. Canada, for instance, has many residents that spend half the year in warmer parts of the U.S. “One of the issues there is when you’re considered a resident of most countries in the world, you have to file taxes there,” said Julia Chung. “We have a lot of Canadian residents who are just finding out that they’re supposed to file a tax return with the U.S. every year.”

Book Review: Shannon Lee Simmons

Worry Free Money: The Guilt-Free Approach to Managing Your Money and Your Life by Shannon Lee Simmons isn’t making empty promises in the title. There’s literally no guilt in it. None. The revolutionary thing about Worry Free Money is that it doesn’t start with...

Working with Sandi was everything I hoped for. I felt like you got to know me well and very quickly. I feel like your recommendations reflected my current reality as well as my personality. That is, you didn’t recommend things that I would never commit to.

After going through this process, I feel like I have a much better understanding of my financial picture. I so wish that I would have done this years ago!!

H. Bellerose

Having an impartial 3rd-party review our entire financial situation is one of the best business decisions my wife and I have made. We consider Julia our personal CFO and have incorporated her services into all aspects of our financial lives.

There’s no pressure to purchase any investment or insurance through her or any associate she has introduced us to; but rather an assessment and guidance on plans we have for the future.

C. Dewar

Well, it’s been a year since we came to see you last and enacted our plan and we are writing to tell you that we are DEBT FREE on November 1ST ON SCHEDULE!!!

Coming to see you, using your services, was the best decision we ever made as a couple. We can’t thank you enough. We couldn’t have done any of it without you. Thanks, Kathryn.

 

K. & J. Shorrocks

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