Market data

The BC Training and Education Savings Grant

Wednesday, October 14, 2015

In February 2013, the BC government announced that any BC resident with an RESP for a child born on or after Jan. 1, 2007, may apply for a one-time grant of $1,200 between the child’s sixth and seventh birthday. Two years have passed since then, as it has taken the government time to develop the applications, and for Financial Institutions to obtain approval to offer the grant...
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Invest in your health

Wednesday, September 16, 2015

If you are a regular reader of our blog, I think it is safe to assume that you are a person who is interested in your financial future. It is widely accepted that, if we want to have enough money for retirement, we need to start saving and investing as early as possible. The sooner we start, the more we will accumulate. This same adage holds true for our health. Investments we make in our health today will also pay off in the future...
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Why Use A Mortgage Broker?

Monday, August 17, 2015

Today, we recommend that our clients enlist the services of mortgage brokers when buying property or renewing their mortgages. Gone are the days of automatically renewing one's mortgage or leveraging a long-standing relationship with a local bank branch to secure financing. While, in the past, this was the business norm, in the highly competitive mortgage arena, clients get the best combination of rates and terms by having a professional mortgage broker shop the market for them...
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RRIF withdrawal rates

Monday, June 15, 2015

In the most recent federal budget, there were some interesting and progressive changes. The most obvious to many was that the TFSA annual deposit limit was changed from $5,500 to $10,000. While this is very helpful for many people, I wanted to talk about the changes to the RRIF withdrawal rates.
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Canada - Money for Life - Life Annuity

Monday, May 25, 2015

Click here to see a video detailing how Canadian residents can have a guaranteed monthly income throughout their entire retirement with Life Annuities.
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Permanent insurance

Monday, April 13, 2015

Although permanent insurance may be used to fund any need at death, it is an especially useful tool for the tax-efficient transfer of family wealth to the next generation or to charities...
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Term insurance

Tuesday, March 17, 2015

Term insurance is a type of life insurance that provides coverage for a specified period of time, the policy's "term". If the insured dies during the policy term and the policy is active (or "in force"), a death benefit is paid to the beneficiary. To learn more about term insurance...
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Change happens

Monday, February 16, 2015

For most people “financial independence” is a goal. Achieving it relies on gradually converting our “Human Capital” capacity to work, through savings, into a lifelong cash flow. Having financial security or freedom of choice, means having an income, independent of government, employer and family, throughout our lifetime...
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What’s so great about a Tax Free Savings Account?

Tuesday, January 13, 2015

When the Canadian government first introduced the Tax Free Savings Account (TFSA), it was most often used as a regular bank savings account where the interest was not taxed. But it can be so much more useful than that...
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Changes to the RRIF Minimum

Wednesday, December 17, 2014

In the year you turn age 71, you must convert your RRSP funds to a RRIF, annuity, or cash out. Converted to a RRIF, the plan must pay out a minimum of 7.38% of the value on January 1st. For example, if your account balance at December 31 was $100,000, you would be required to withdraw $7,380 the following year. The minimum withdrawal percentage continues to increase each year until it hits 20% at your age 94...
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