Financial Planning

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Financial Planning at any Age

Click below for a video on Retirement Planning

Having a financial plan provides a road map to your financial well-being.

Having your plan periodically reviewed & updated ensures it stays current to meet your evolving needs and is aligned with life’s changes.

Video created by Jaime Munro from Whisper Media (www.whispermedia.ca)

Needs vary as we go through different life stages. For example, needs and priorities may include:

Starters (age 21 to 34 – finishing school or starting on career path):

    • to pay off student & other debts, establish an emergency fund, or to save for a major purchase such as a first home.

Builders (age 35 to 44 – may have kids and own a home):

    • to provide for dependents, repay mortgage and debts, save for children’s education, ensure families are financially provided for in event of death or disability.

Accumulators (age 45 to 54 – may be progressing in their career and/or have grown young adult children):

    • to save for all stages of retirement, reduce current & future income tax, to avoid creating a burden to family in case of major illness.

Accelerators (age 55 to 64 – may be preparing for retirement):

    • to re-align and ramp up retirement savings if required, reduce taxes & expenses as you move closer to retirement, ensure adequate provision for living and health care expenses of surviving spouse in the event of death of one spouse.

Preservers (age 65+ may be retired and still active):

    • to live comfortably in retirement, minimize tax in transferring assets to the next generation, provide for final expenses and taxes, and simplify estate settlement for the family.

Our Process

  • Establishing our client-advisor engagement

  • Determining your goals and expectations

  • Clarifying your present situation and identifying any shortfalls, issues or opportunities

  • Reviewing & selecting options to cover your needs

  • Implementation

  • Monitoring your plan and making adjustments if necessary

Financial Planning Articles of Interest

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Busy times and old traditions around the holidays can lead to overspending and more importantly - wasted opportunities to give gifts that truly mean something to people we care about. Read these 5 tips to help you give meaningful gifts that don't require spending a lot of money.

Critical Illness: Are you Protected?

Medical practitioners today will confirm that the lower your stress levels the better the chances for your recovery. When one is ill with a serious illness, having one less thing to deal with, such as financial worry, can only be beneficial. Your Life Could Change in a Minute!

The Difference Financial Literacy makes

Everyone's financial responsibilities and priorities change over time. Whether you’re just starting your worklife or looking ahead to retirement, planning goes a long way in helping you make good financial decisions, reach your goals, save taxes and/or avoid unpleasant surprises that could set you significantly back financially.

Family Business Planning Strategies

If you are an owner in a family enterprise, the likelihood of your business successfully transitioning to the next generations is not very good. This has not changed over the years. Statistics show a failure rate of: 67% of businesses fail to succeed into the second generation 90% fail by the third generation With 80% to 90% of all enterprises in North America being family owned, it is important to address the reasons why transition is difficult.

The Cost of Taxes to your Bottom Line & the Value of Planning with Tax-free options

Have you looked at how much difference tax-free options can make to your bottom line? Aside from a TFSA, do you know other tax-free options there are available for your savings, investments, and retirement funds?

Whole Life – A Whole new Investment Class

The recent developments in investment markets and the volatile performance that has resulted have brought about a new appeal to an old workhorse. For investors looking for a diversification in their investment portfolio and a more tax efficient fixed income investment alternative, a compelling argument can be made for the use of Whole Life Insurance.

How an Insurance Audit can help you save money & taxes

Many people get insurance because they know they need it, some try to understand what they're getting, and most don't remember the terms of their plans even after only a short while. Just like any financial plan, an annual or periodic review of your insurance plans can help make sure your plan still fits your needs. More importantly, this review is necessary to help save money and taxes and avoid getting surprised at your time of need.

How insurance for your children helps them now & in the future

Aside from the fact that it's cheap, here are the best reasons why you need to get life and critical illness insurance for your children... and how it can help them tremendously as they grow up.

Is the Life Insurance Industry in Canada Stable?

Insurance is one of the most closely regulated industries in Canada. Unlike the United States, in Canada there is a government organization that supervises all of the federally incorporated and foreign insurers to ensure that these companies operate in a prudent manner.

Build your Financial Plan

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