If your plans involve doing well financially and leaving an inheritance for future generations, look at using life insurance to transfer wealth tax-free. This would seem preferable to leaving a big chunk of your hard earned money for the government. It also protects your money from probate and claims or “challenges” made to your Will.
It‘s been said that one of the best tax-savings tools is also one of least known, least understood, and most under-utilized financial instruments (yes, that’s the Annuity).
See how getting your own coverage gives you & your family more benefits compared to getting Mortgage Insurance from your lender.
Do you wonder if you can ever retire or you’ll be like the many older Canadians who are still dealing with high levels of debt? Here are some simple steps that you can take now to help you grow your retirement savings.
When you talk about saving money for your retirement, for a special vacation or for your rainy day fund, most people automatically think of ways to reduce spending. There are however, 2 ways to balance a budget – reduce spending or increase earnings.
For most people, talk of earning extra money means working overtime or getting another job. That can sometimes cost you more if you overextend yourself and get sick or too stressed out. This article talks about some other ways to increase your income (or cash) that may not-be-so-obvious or may not be top of mind.
Having a source to replace your earned income in the event of an illness or accident is vital considering that on average, 1 in 3 Canadians will become disabled for a period of more than 90 days at least once before the age of 65. Having that source be tax-efficient and one that doesn’t drain your retirement fund, is also critical to ensure you stay on track and not have to start from scratch when you recover.
A few seconds could change your life – in a good way, or a bad way. My close call could have led to a much worse situation that could have severely affected my quality of life. So while we could all go through unfortunate situations that we can’t avoid, planning for the unexpected can help reduce the adverse impact on our quality of life.
See this page for videos about Medy & Dytuco Financial Services – our background, what makes us different and how we can help you look at your retirement plan and protect your families.
Albert Einstein defines insanity as doing something over & over again and expecting different results. What have you been doing over & over the last few years that has not moved you closer to your financial goals? Why even bother with new years’ resolutions if you’ve usually just abandoned them after a few weeks? These 5 key steps gives a different perspective that can truly make a big difference to reaching your financial goals this year and beyond.
When you search the internet for articles on the saving money, most usually say the same old obvious suggestions like turning lights off, turning the thermostat down and bringing your lunch to work.
This article highlights some not-so-common places to look for savings – in some very common ways we “waste” money. As you read through the list, think about how much these may have cost you in the past, or imagine how much they could cost you in the future. As you add it all up, you may find that you have a hidden pot of gold right under your fingertips.