Dollar Cost Averaging
If market volatility has caused you to transfer your money into GICs or cash, you may want to ask yourself if you are still on track to meeting your personal goals. Whether it’s saving for retirement, a home or a child’s education, keeping money in a lower-earning investment option may not give you the growth […]
Enhance Your Charitable Giving Using Life Insurance
According to Statistic Canada, over $10,000,000,000 was donated from 5,000,000 Canadians to charity in 2019. All these donations are eligible for a non-refundable tax credit. By using Life Insurance, you can increase your overall charitable donation benefiting a cause that really means something to you. Donating funds to the Canada Revenue Agency through taxation […]
Are You Insuring Your Most Valuable Asset?
Ask the average Canadian what their most valuable asset is, and if you are a homeowner, you would likely say your principal residence. While that is likely true when it comes to something tangible you can buy or sell, it is far from your most valuable asset. Your ability to earn an income is your […]
Invest in Your Child’s (Grand Child’s) Future
When building a house, you start with a solid foundation before you start framing the structure. Below are two ways your child’s (grandchild’s) financial foundation can be set up for success. Option 1A – RESP A Registered Education Savings Plan (RESP) can be part of every family’s financial plan. The Government will contribute 20% of […]
Critical Illness Insurance – A Forced Savings Plan
Protection from a major health event and a little forced savings for your healthy future self. One of the unique features in the Canadian living benefit insurance market is the ability to receive all your premiums back if you don’t claim on the contract. Did you know? With this product, you get a cheque from […]
Individually Owned Life Insurance vs. Mortgage Insurance
Individually Owned Life Insurance vs. Mortgage Insurance When taking out a mortgage with a lending institution you should cover off that debt with an insurance policy. Not all coverage options are created equal. Let’s look at the highlights of the two options available to you. Control Individually Owned Term Life Insurance: You own the coverage and […]
Leverage a Permanent Insurance Policy – Immediate Financing Arrangement
Do any of the below resonate with you? I hold traditional investments inside my holding/operating company I am looking to diversify my holdings towards an alternative tax advantaged asset class I want to increase the internal rate of return on my estate plan. I want to maximize the Capital Dividend Account balance (corporate IFA). I […]
Why/When to own Corporate Owned Permanent Insurance
When should you consider Participating Whole Life Insurance inside your Corporation? You’re a significant shareholder in a Canadian Controlled Private Corporation Age 40+ and healthy Corporation has excess annual cash flow and/or investment assets not needed for business purposes. Typically, been in business for at least 5 years. Want to maximize your estate and transfer […]
Which job would you choose? Job A or Job B?
You have been offered a job and get to pick between two different compensation structures. Which one are you choosing? Job A will pay you $80,000/year while working and $0 if you are unable to work due to an injury or illness. Job B will pay you $78,500/year while working and $53,000 (tax-free) if you […]
Simplifying insurance coverage – Rent, Lease or Own
At times, it can feel like Life Insurance Companies have overcomplicated the products they provide by using fancy names and acronyms. This has left many Canadians feeling confused. Fundamentally, there are only three plan types to choose from when purchasing life insurance. You can rent, lease or own the insurance. Below is an explanation of […]