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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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Financial Planning – more exciting than you’d think

Tuesday, November 18, 2014

November is Financial Literacy Month and the week of November 16th–22nd is hailed as Financial Planning Week. Prominent not-for-profit organizations, Financial Planning Standards Council (FPSC) and the Institut québécois de planification financière (IQPF) strive to raise awareness of financial planning as fundamental to the financial well-being of Canadians...
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How Much Risk Can You Tolerate? Part 3 of 3

Thursday, October 9, 2014

Over the past two months we have examined some of the risks that challenge most of us. It is almost impossible to avoid risk entirely. Knowing where the pitfalls lie and planning for them will certainly help. You might, however, want to consider shifting the risk to someone else, like a life insurance company. Life insurance companies are in the risk business and they have products and services that can assist you in dealing with risk. Some of these are as follows...
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How Much Risk Can You Tolerate? Part 2 of 3

Tuesday, September 16, 2014

Last month, we discussed how much risk you could tolerate depending on your life situation. This month, we consider other risks to which each of us are exposed...
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How Much Risk Can You Tolerate? Part 1 of 3

Wednesday, August 13, 2014

Will Rogers, the American humorist, when talking about the investment schemes in North America at the time, said, “I am less concerned with the return on my money, than I am with the return of my money”. Will was aware of the truth that the higher the potential rates of return on an investment, the greater chance of loss...
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A Lifetime Gift for your Grandchildren

Friday, July 18, 2014

If you are a grandparent wishing to provide an asset for your grandchildren without compromising your own financial security, you may want to consider an estate planning application known as “Cascading Life Insurance” that will generate...
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How much life insurance do I really need?

Monday, June 16, 2014

In determining how much life insurance one really requires, there are a number of factors that need to be examined. The need for life insurance can be divided into two categories – capital needs and income needs...
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Using life insurance for charitable donations

Wednesday, May 21, 2014

If you have a desire to make a donation to your favourite charity, you might want to investigate how significant bequests can be made using life insurance on your life. Generally, strategies utilizing life insurance for charitable purposes fall into two categories...
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"Anytime I ask for something, it is taken care of very promptly and professionally."

Celia H.