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Financial Viewpoint
Setting up your life insurance beneficiaries
It is wise to take a few extra steps to plan how you set up your beneficiaries on a life insurance policy.
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How to fully secure your home
Make Sure Your Home is Fully Secure Consider the following measures to take to ensure your home’s security: • Change all the locks when you buy a new home. • Add deadbolt locks and window locks where necessary. • Consider …
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RRSP and TFSA REVIEW**
What are some differences between a Tax-Free Savings Account (TFSA) and a Registered Retirement Savings Plan (RRSP)? The tax benefits of the Tax-Free Savings Account (TFSA) The TFSA is a registered savings account that makes it easy for Canadian taxpayers …
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Investing with an advisory team
If you are an investor who remembers the mortgage debt crisis of 2008-9, you know that the stock market lost significant value. From an investment standpoint, the real downside occurred when some investors sold off their equity holdings due to …
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Business Owners and Estate Planning
Entrepreneurs do think about retirement planning. Not all business owners, however, implement plans to allow them sufficient freedom to follow their leisure dreams. If you ask an owner of a successful small business if he/she plans to retire, you may …
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Disability Planning QUICK REVIEW
When you own your own business, you do not have the security of group insurance that employees have. After several years, you may find that you are drawing a substantial income from a successful venture. Disability Planning: Let’s do a …
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A Strategy for Extending Aging Elder Independence
Here is an interesting method for watching over feeble parents from a distance. In some cases this strategy may be able to help an elder parent maintain independence at home. I share below a good friend’s strategy. After reading this …
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How life Insurance protects your financial foundation
Life insurance has been called the foundational strategy of building and protecting your net worth.
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Avoid the dangers of Market Presentism.
Long-standing investor wisdom has proven repeatedly that”what goes down must come back up.” Our goal is to manage your money through all market contingencies. That means both 1) the market’s growth periods and 2) potential downswings due to global scares, …
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Remapping your mortgage finances
Plan your mortgage shopping. It is essential to plan regarding your mortgage. A mortgage specialist can help you review your needs to develop your most beneficial financial strategies. Over a year, you may have increased your credit card balances or …
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Greed and Fear: The dilemma of investing without an advisor
Many people get caught up timing the market, when influenced by either of the two emotions, greed or fear. Here’s why this never works.
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Mortgage planning to fit your financial strategy
As part of your overall financial strategy, consider your mortgage strategies to access financing, reduce risk, and protect your real estate investments. A good mortgage plan helps you keep moving forward regardless of market volatility and allows you to weigh …
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Cognitive Biases and Investment Decisions
Cognitive biases can impact business or investing decisions
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Estate considerations when using the RRSP vehicle
RRSPs alone may not be best for the wealthy The following chart indicates that you can save a small fortune over time in an RRSP. Since your focus is on retirement, much of your wealth may accumulate using this registered vehicle. …
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Inflation: An increasing threat to financial sustainability.
Over the years, inflation reduces our buying power. Interest rates when increasing to reduce inflation also increase our debt repayment load as a percentage of income.
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Mortgage Life Insurance Strategies
Mortgage Life Insurance from the financial institution Premiums can be much higher. The death benefit replaces only the remaining balance of your mortgage balance. Premiums do not reduce when your mortgage debt is reduced. The death benefit only pays off …
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Business Tax Planning
Business Tax Planning If you own a business, and your children and/or spouse work therein, consider paying them a reasonable salary from the business. If this is their only income, or they only work part-time elsewhere, they may not need …
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Wealth Creation in cyclic markets
If you are an investor who remembers the mortgage debt crisis of 2008-9, you know that the market lost significant value. From an investment standpoint, the real downside occurred precisely when some investors sold off their equity holdings due to fear mid-way or near the end of the market devaluation.
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The smart alternative to mortgage life insurance
Your mortgage lending institution generally sells creditor insurance to ensure that upon the decease of the homeowner, they will not be burdened with an unpayable debt.
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Matching asset portfolios to your risk profile
One of the most critical factors in choosing an appropriate investment portfolio is understanding which asset allocation best matches your investing goals and risk tolerance. No two investors are entirely alike; as such, the asset allocation of your portfolio must …
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The perils of cashing out in volatile markets
Though volatility has been frequent, Dow Jones has risen substantially through the waves of buying and selling trends. During the pandemic, panic selling occurred in March 2020 but recovered despite volatility. Moreover, a bullish buying period ensued into April 2022, …
Read Article Reviewing your mortgage is important
We have been blessed with low-interest rates affecting lower mortgage rates. Have you thought about what happens to mortgage rates and how a household’s expenses go up when these rates rise?
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Balancing Investor Risk and Reward
The risk/reward concept states that the higher the risk of a particular investment, the higher the possible return. Although there usually is some risk with any equity investment, it is essential to assess just how much risk your portfolio should carry. Risk involves the potential for gain or loss of monies invested.
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Advice by Design with Planning Values
Here are some essential strategies that will help you achieve financial independence. As the graph indicates, it is important to get solid advice to guide you with financial strategies incorporating planning values such as those noted. Separate your savings from …
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We have life insurance solutions for your business
Financial products and services address specific needs in your financial plan and help you build a successful business. As an advisor, I can access a broad range of insurance, investment, employee disability, and group benefits to help meet your individual …
Read Article Why use a Mortgage Broker
As a dedicated mortgage professional, I have access to numerous lending institutions offering unique mortgage products. First-time homebuyers or those either with a mortgage for renewal or looking to refinance, give us a call. You needn’t look any farther as we offer great options as a one-stop broker.
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5 Options of a Buy-Sell Agreement
When a co-owner/partner dies, the surviving business owners usually have five options in dealing with the deceased owner’s business interest: 1. Buy out the heirs of the partner with Life Insurance proceeds. This is usually the most preferred option. After …
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Fear – the stumbling block of DYI investing.
Many do-it-yourself (DIY) investors who do not use an investment advisor may have missed excellent returns as the market has revived beyond expectations. Interest rates were up, US banks were failing, and recession fears had loomed since January 2023. Fear …
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When is the best time to sell or buy a new home?
People begin putting their homes on the market early in the year, though peak home purchasing occurs around June once school has ended, the weather warms up, and vacations begin. In mid-summer, people begin to have more time to house hunt. Income tax refunds can also increase payments, adding to the increase in volume.
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Disability Buy-Sell Agreements
Two strategies protect shareholders against the liabilities of another significant shareholder becoming disabled.
Read Article How market volatility can work for the investor
Volatility is when prices of stocks and equity funds increasingly shift in value up or down.
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7 ways life insurance protects your financial foundation
Life insurance has been called the foundation of your net worth. If you have a spouse or children, the initial stages of your financial strategy should include adequate life insurance coverage.
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2023 FRAUD REVIEW: Be vigilant about fraud.
While a determined hacker targeting an individual will eventually be able to overcome any security precaution, most of us will never be so specifically targeted. Maintaining basic security hygiene and awareness would be enough for us to protect ourselves against …
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Calculating CPI at Statistics Canada
The Canadian government uses an inflation measurement called the Consumers Price Index (CPI), calculated by Statistics Canada. A simple average of prices in Canada doesn’t accurately represent how the average Canadian spends money or how that modifies their purchasing power. …
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When the family begins: Protect your family finances.
If you have a spouse or children, make sure you have adequate life insurance coverage. Here are 7 tips about life insurance.
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Myths of Wealth Creation
Many are asking essentially, “will I ever be ready to retire?” When we discuss the cause and effect realities with most who have not saved much for retirement we find they generally admit these reasons:
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How to prepare to qualify for a mortgage.
When you apply for a mortgage, there are several questions that a lender may ask.
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Over-consuming leads to under-investing
Some people never pay themselves first. After most people have paid for their necessities, there seems to be little left over for investing. This dilemma is often based on a certain mindset.
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Increased Wealth Protection
Permanent Life Insurance can provide wealth protection that becomes especially attractive after clients have maxed out both their registered retirement savings plans (RRSP) and tax-free savings accounts (TFSAs) with money to spare which can pay for the ongoing premium. When considering your potential future tax liability, compare it to the effect that inflation may have on the life insurance’s future lowered buying power.
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Considerations when designing an Estate Plan
Estate planning is a process that allows one to determine how their assets will be distributed upon death. As we prepare to pass our lifetime assets to our heirs, there are key components of an estate plan that should be given careful consideration.
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Investing is a strategic process, not the final goal
Investing is the strategic planning process, not the final goal It is important to realize that investing is not the goal. The goal is based on a future result that you aim for using mathematical calculations. Investing is what you do in …
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Cyclic Bull and Bear markets can play on investor sentiments
Two significant cycles frequently occur in the market that many investors are psychologically affected by—the Bull and the Bear market—when market values rise or fall significantly. When it comes to investing, many procrastinate. If they monitor these cycles too closely, …
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Let’s get rolling on your financial planning!
David Allen is the guru of organising email, meetings, events, and anything to do to maximise your business and life productivity. After years of advising wealthy corporations on efficiency, he wrote: The real issue is how we manage actions. …
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Chasing Peace in a Vacation Resort
Many people think about getting away in January and February to get some sunrays to escape the cold of winter. If you are over 55 years of age, you may be less into adventure, and prefer to have a calming rest in a warmer climate.
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Facing further Mortgage increases
A home is the biggest purchase most people make in life. It is important to proactively weigh your options by working with a mortgage consultant to manage the cost of borrowing because it may save you a small fortune over the years.
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Financial Planning Mindfulness
Mindfulness guides our best financial decisions. Dr Ellen J. Langer is the author of the classic book Mindfulness which details years of study of behaviour related to mindful thinking versus unmindful paradigms that form our reality. How we invest for retirement or …
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Unpacking 3 major components of a mortgage
A mortgage payment generally consists of several components: the mortgage principal and interest, property taxes and mortgage life insurance.
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Contributing to Your Retirement*
Now is a good time to assess what you want to invest in your RRSP or TFSA or both.
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Sure-fire ways to invest for a rewarding life
Here are several tips to contemplate prior to investing a mutual fund:
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How can I minimize the need for estate probate?
There are a few tactics whereby you can reduce the need for an estate to be probated by the government: • Defer possible probate by holding assets jointly. Probate fees may be charged when that asset is transferred later through the …
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How does inflation risk my retirement?
Statistics Canada releases inflation figures regularly to determine the health of the Canadian economy. Increasing inflation indicates that the economy’s overall prices are rising. On the upside, this can mean good economic growth is pushing these numbers higher. Some inflation is …
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The Fundamentals of Financial Independence
Here are some essential strategies that will help you achieve financial independence. It is important to get solid advice to design a plan that incorporates planning values such as those noted herein. Separate your savings from your investments. Before …
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The scope of a good financial strategy
A good financial strategy is multi-faceted. It must anticipate change and reflect your specific financial goals and objectives while considering your level of investment risk tolerance. A personalized financial strategy can be tweaked to reflect your changing life needs. Whether …
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Registered Investments
How can my RRSP benefit by Dollar Cost Averaging (DCA)?
Here is a strategy that works all year round, well ahead of, and therefore eliminating, the annual RRSP deadline frenzy.
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Updating your estate plan
What is estate planning? The nature and extent of an owner’s rights concerning land, property, and financial assets and life insurance benefits can be given over to heirs using documents referred to as the last will and testament, drawn up …
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Understanding mortgage rates
The influence of the Bank of Canada, in tandem with the markets, influence your mortgage rates.
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Is a Life Insurance benefit taxable?
The advantages of life insurance are well known: It is foundational to a sound financial plan
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Investment fund management side-steps the psychological chaos
Professional analysts are trained to look at strategies to help you succeed at investing.
Read ArticleHabits that apply to financial planning
Steven Covey’s book The 7 Habits of Highly Effective People Powerful Lessons in Personal Change (25th Anniversary Edition) seeks to manage our habits for good, according to psychology, to help us manage conditioned responses to stimuli such as media or …
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Professional Advice in Times of Inflation
Because inflation is on the rise the cost of goods and services will be increasing in the future.
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Long-Term Care Insurance (LTCI)
We face a rapidly ageing population. Since the 1920s, the ratio of seniors over the age of 85 has more than doubled. This number increases into the 2050s will be over age 85. Who will care for you in your …
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Honey, I forgot to invest!
Your time to invest for retirement is shrinking annually. The older you get, the more you might say, “I don’t know where the time went – it just flew!”
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Long Term Care: Neuroscience and the aging mind
Since the 1920s the ratio of seniors over the age of 85 has doubled to one out of every ten people. This number is to increase, to five times the current demographic, into the 2050s according to Statistics Canada. That means that half the population in 40 years, will be over age 85.
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You must invest with an actionable plan
Many procrastinate when it comes to financial planning because when left alone without professional guidance
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Corporate Owned Life Insurance Review
Chartered Accountants, Financial Professionals, Life Insurance credentialed specialists, for decades engaged strategies to help business owners retain estate value — often to pay off debts relating to potential capital gains tax due — which helped business owners after many years of hard work.
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Are you ready for a Financial game changer?
Thinking about financial planning and your decisions can affect you and your loved ones for a lifetime. Renewing your financial mindset. Plan your new paradigm. A comprehensive financial plan helps you make decisions about your finances which empower all the …
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The advantage of using a qualified financial professional
Unless you have inherited money, you might feel like “not enough money” is the top stress agitator today. The Baby Boomer population, many of whom are working long after the traditional age of 65, reveal that a lack of financial …
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Financial Planning and Millennials
Between the late-1970s and the mid-1990s, the most significant Canadian workforce referred to as millennials (or Generation Y) was born. As the largest generation by population size in North America, by 2025, three out of every four workers globally will …
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WISDOM: Plan your financial strategies
Your mindset can alter how you plan to invest in the future. Planning avoids the fear of making a wrong money decision and mitigates the depletion of your cash flow. Here are some basic financial planning principles to consider: Discipline …
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Solutions for your Estate Plan
An estate plan prepares in advance for the distribution of your wealth at the time of death in the most tax advantageous way. Here are a few strategies to accomplish this. Estate planning is generally done years ahead, to avoid taxation pitfalls that can erode wealth transfer to heirs.
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Estate Wealth: Executor Strategy
Every adult needs an up-to-date will. Without a will, provincial laws outline how an estate is to be settled, which may not reflect your wishes. Outdated wills may not allow for changes in: • family circumstances such as a new …
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Managing business risk is a survival strategy
Start-up firms and smaller companies are especially vulnerable to risk because they often lack considerable company sophistication and in-house risk-control expertise. Some risks are potentially devastating and therefore must be insured against; others are less menacing. We can broker for …
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Habits of Mindful Wealth Creation*
Most successful investment strategies hinge on holding investment funds. There are ten important wealth management tactics that can help maximize your long-term investment returns.
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Advantages of the Tax-Free Savings Account (TFSA)–
There are basic uses for the Tax-Free Savings Account (TFSA) for investment planning purposes. Some may have advantages for your planning: Retirement planning. TFSAs can benefit individuals who are looking to invest in their retirement but are unable to contribute …
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Ten Business Succession Pitfalls
Ten Business Succession Pitfalls Various circumstances can make succession planning either difficult or impossible. The suitable successor quits. A son or daughter may decide to leave the firm after having worked in the family business for years without a commitment …
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Eliminating Debt in an Estate Plan
Copyright of AdviceOnMedia® Life insurance designed to pay the debt Many owe thousands of dollars on their credit cards. Others who are highly successful entrepreneurs may be millionaires who want to transfer a business to the next generation or sell it …
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Understanding Life Insurance Planning
Life insurance plans offer death benefits, to protect your wealth creation plans.
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Educational Planning
The Registered Education Savings Plan (RESP) Facts about an RESP A Registered Education Savings Plan (RESP) is a savings plan registered with the government that can help you save for your child’s post-secondary education. Money invested in an RESP grows tax-deferred. …
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The Problem of Estate Capital Gains Tax
You and your heirs may think that all of your assets will pass over to them tax free. Let’s examine how estate taxation can erode the value of one’s property and cause business succession problems
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How can Life Insurance protect my family?
Life insurance has provided families with basic financial security for well over 100 years.
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The Bias of Investment News
Traditional economic indicators are often poor predictors of a stock market trend. One of those indicators is the news. It can increase emotional reactions among investors but it will not predict stock market trends. here is an example of financial news that you may be exposed to in a week:
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The Patterns of Economic Recovery
The global economies still face the high rising costs incurred by the pandemic affecting us all. Economists, financial analysts, fund managers and CEOs of various reputable financial institutions continue to reassess their viewpoint on the recovery of the world’s financial markets.
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Scammer-thieves on the rise
We live in a busy world with the increasing stress of Covid-19. overwork, concerns for our children’s fiscal and career futures, ageing parents, and our retirement, ageing and health concerns. Others are dealing with grief over the death of a …
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Understanding the Family Legacy Plan
It is important to plan the most efficient manner of leaving hard-earned assets to heirs. Try to attend to these concepts to maximize your legacy. Keep your testamentary trust (your will) updated. Without an updated will, deceased heirs may be …
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REAL ESTATE The influence of lower interest rates
Just as the stock market is cyclic, so is the housing market. When buying or selling a home, try to ascertain what kind of market you will enter.
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Bear Market Duration
Bull markets are periods of rising capital valuations that generally create increased wealth for investors in the equity markets. Bear markets work to conversely decrease gains in equity investments for a limited but unknown period of time.
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Tips on Home Repair & Maintenance
Once you’ve finally settled in, you may start to view your home with a more objective eye. Perhaps there are things you’d like to change — the kitchen cabinets or the flooring, for instance.
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A Business Owner’s Insurance Checklist
Managing risk is a survival strategy businesses can’t ignore. Start-up firms and smaller companies are especially vulnerable to risk because they often lack big company sophistication and in-house risk-control expertise.
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5 tips for choosing an executor for your estate
Common sense easily persuades us that every adult needs an up-to-date will. Without a will, provincial laws outline how an estate is to be settled, which may not reflect your wishes.
Read ArticleTax Tips Quarterly
Aging gracefully while managing wealth decisions
Our population is aging rapidly the more the baby boomer demographic retires. We knew this was going to occur, along with more retirees also becoming incapable of making practical financial decisions.
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Why Women Excel at Investing
The incoming generation of investors will be younger and much more diverse, with women now partaking of an increasingly prominent role in building and growing family and personal wealth.
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Financial planning with your fiscal partner
When establishing a financial strategy involving other stakeholders, such as paying down a mortgage, develop a written plan that all parties agree on. You can create written point-form agreements for each to sign in areas of investing, registered vehicle planning, debt repayment, etc.
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Getting Perspective on Planned Giving
You don’t need to be rich or famous to get involved—everyone can! For example, for just dollars a day you can help feed a child through World Vision. Talk to your advisor about the tax benefits of charitable donations.
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Education’s effect on future income
In Canada, the government allows a welcome tax break when you save for your child’s education. As parents, we need to consider the effect that education will have on the future income and lifestyle of our children.
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The reward of investor patience
Professional fund money managers understand that market cycles, and such market shocks call for cautious patience.
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Protect your family with life Insurance
We all face the risk of mortality. We’ve all been through a risk-intense time with COVID-19. It’s important to purchase life insurance when you are in reasonably good health. In the event of the death of an insured, life insurance …
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Tips on buying a home
Buying a home, can be one of your most important investments. Here are a few tips on buying a home:
Read Article Principles of Financial Security
Envision your financial independence. Financially successful people have these things in common: they follow their dreams and believe they can serve others while achieving financial independence, and they move in that direction. One thing is imperative. Create a financial plan. …
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The final steps once you buy a home
The closing day is the day when you finally achieve your goal—you take legal possession and finally get to call your new house your own. You are sure to feel great relief and satisfaction but remember that the home …
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