Finances are emotional, finances are personal, and for family’s finances are one of the leading causes of divorce in Canada. This alone is a good reason to put a plan in place for your family. One of the greatest strengths of our advisors is their ability to listen. We not only listen to you, but we want to hear what you have to say.
We work with families every day to help them make sound financial decisions, map out a roadmap to their destination, and get on track with their finances. Imagine how you will feel when you have a step-by-step plan addressing your key concerns and ensuring that all of your resources are working in harmony towards your life goals.
We understand that there is no shortage of marketing material that will be pitching different investment and insurance options for your next dollar, so we encourage you to take time to make sure you are working with someone who understands your values and puts your interests first. We’ve outlined some more food for thought below;
Budgeting & Cash Flow
Before investing, consider setting aside an emergency fund of a few months living expenses. Avoid taking on excess debts, and consider reverse budgeting (set aside your monthly savings automatically, allowing you to spend what’s leftover).
Life & Disability Insurance
Life Insurance: Ask yourself, what does your family’s life look like (financially) if you do not come home tomorrow? If the answer is that they would need money to meet that quality of life (for many years more) then life insurance is needed to fund that deficit.
Term Life Insurance can protect one of your most important assets – your ability to earn income- and it is relatively cheap, in many cases costing much less than your monthly TV subscription…
Disability Insurance: Disability Insurance pays a monthly benefit if you are unable to work due to accident or illness.
Utilize your Registered Retirement Savings Plan (RRSP) and Tax-Free Savings Account (TFSA) to capitalize on the significant tax benefits and sheltered your investment growth from income taxes and start saving for the long-term. Not sure what you should be investing in? That’s why we’re here to help.
If you have children, consider taking advantage of the Registered Education Savings Plans (RESP) for post-secondary education where the government will give you annual grants matching 20% of your contributions (up to $2,500/yr).
For professionals and/or business owners, click here for more info.