The Settlement Process – What Your Beneficiary Can Expect

You’ve done all the right things; you’ve purchased life insurance and named a beneficiary. You know how important it is to name a specific beneficiary to ensure that the proceeds of your life insurance are protected from creditors and pass to your beneficiary on a tax-free basis. You’ve also connected with your insurance advisor to…

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Shining a Light on Seasonal Affective Disorder (SAD)

Did you know that nearly 10 percent of Canadians ages 12+ are affected by a mood disorder (1)? A mood disorder refers to a general emotional state or mood that interferes with one’s ability to function – major depression disorder (MDD), anxiety and bipolar disorder (BP) are all commonly recognized mood disorders. However, did you…

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Love and Money

Ah love… it’s a beautiful thing, but sometimes finances and money worries can get in the way. In fact, 84% of respondents in a Money Magazine survey said that money was the source of marital tensions with disagreements about financial priorities topping the list of problems (1). So, how should one manage money and love?…

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Learn About the New “Trusted Contact Person” Role

Sadly, elder abuse is a reality for too many Canadian seniors. When the National Initiative for the Care of the Elderly studied this issue in 2015, it found that about one in 12 Canadian residents age 55 and older (8.2 percent) had experienced elder abuse in the previous year. For 30 percent of those people…

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What to Do With Your Quarantine Savings?

Many Canadians have been pleasantly surprised at how quickly money has accumulated in their savings accounts during the stay-at-home lockdowns. However, cash generates only modest interest, and even low inflation will gradually whittle it away. Depending on your personal situation, these savings could be put to much better use. Here are three options to consider.…

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Why Open an RDSP?

The Registered Disability Savings Plan (RDSP) was established by the federal government to help parents and others save for the long-term financial security of a person with a disability (one who qualifies for the Disability Tax Credit). A big advantage of RDSPs is that, like RRSPs, they allow your money to grow tax-free. Plus, the…

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Thinking Early Retirement?

Some people could keep working for their entire lives, but others dream of retiring early. If you’re in the latter camp, the good news is that early retirement is possible. Sure, it takes financial discipline, and you’ll probably have to make some changes in your spending and saving habits. But you don’t need a million…

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Start Early

The earlier you start investing in an RRSP, the better off you will be. Why? Because an early start means the income earned in your RRSP has more time to compound. No minimum age And with RRSPs, there’s no minimum age to start investing. As long as a Canadian has employment income and files a tax return,…

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Retirement Planning Tips

Start Saving Early When you begin investing early in life, your money has more time to compound. This compounding effect adds to your accumulated savings. Therefore, the earlier you start building your RRSP, the smaller your total investment needs to be to fund your retirement years. Diversify your assets Studies show that proper diversification of…

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Retirement Planning Gap Analysis

Do You Know Where You Stand? Having a sound retirement plan is crucial to retiring on your own terms. To develop your retirement plan, you need to know where you stand today and what amount of income you will need in your retirement. In general, to maintain the same standard of living you’re accustomed to, you’ll need a…

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