Managing Your Finances

Managing your finances is an important component to any financial security plan. Along with the protection offered through insurance and the goal setting provided by investment choices, money management strategies help you manage your savings on a daily basis.

From mortgage payments to tax savings, we can help you manage your money as effectively as possible.

Managing Your Finances

• Saving;
• Tax Planning; and
• Estate Planning.

 

Saving

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Depending on your stage of life, chances are you’ll have a distinct approach to saving money. New graduates or young couples have different needs than retirees or mid-career families. Regardless of your personal situation, We can help you develop financial habits that will lay a strong foundation for your savings.

Young Families & Individuals

Younger individuals and families have a number of benefits in terms of financial management. Low insurance costs and a long investment horizon, combined with few responsibilities, can make for an excellent financial base. We can help you build on these advantages, while simultaneously considering a debt load that might include student loans, car payments or a mortgage.

Couples planning for a first child enter into a new level of commitment—both personally and financially. Learn how to save for a child through specialized insurance and investment products, such as a Registered Education Savings Plan (RESP).

Mid-Career Professionals

Mid-career professionals typically have a higher income than younger investors—but they also carry more responsibilities. From mortgage payments to a child’s education, consider a financial plan that balances your needs and obligations.

Retirees

Retirees have worked hard at their careers, and now is the time for relaxation and celebration. Chances are children have moved from home, the mortgage is mostly paid off and a few investments are coming to fruition. However, income levels may have dropped after retirement. Find out how to manage your finances in a way that allows you to fully enjoy the fruits of your hard work.

In short, no matter your life stage, contact us today to learn how to balance savings while investing with your other commitments.

 

Tax Planning

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Through the advice of a professional financial advisor, you can access products and services that help ease the burden of taxes. Charitable contributions, life insurance policies and investment products purchased through RRSPs, TFSA's or RESPs can all be useful tools in an effective tax strategy. Working together, we will consider your personal situation and design a plan that fits your needs.

Choose from a variety of products and services, such as:

• Income-splitting for spouses or common-law couples;
• Charitable donations, which benefits important not-for-profit work and allows donors to maximize tax credits;
• Life insurance products that build tax-advantaged capital for retirement;.
• Investment products that provide for tax benefits, such as those purchased through RRSPs, TFSA's, Corporate Class Mutual funds or RESPs.

Contact us today to learn more about tax-planning products and services that are specifically tailored for your needs.

 

Estate Planning

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Preparing for succession after death is a difficult issue to discuss, but it is also an important part of any comprehensive financial plan.

We can help you and your loved ones approach succession planning in a constructive manner that ensures they avoid any issues and are well cared for in the event of death. The process involves two main considerations: life insurance and having a will.

Life insurance can ease the financial burden and provide security for your loved ones in the event of death. A lump-sum payment can be used for mortgage costs or to supplement lost income, helping your successors during a difficult period. Financial security and stability can make it easier to cope with the loss of a loved one.

We do not prepare Wills and you should consult your lawyer, but here is why they are important. A written will provides a means to guide your loved ones through the succession process. By naming your executors and providing instructions on the distribution of your estate, your surviving loved ones avoid having to  interpret on their own. Rather than provincial law determining how your assets are to be divided—a situation that can result in lengthy court proceedings—a clear, carefully considered written will provides clear instructions to your successors.

Contact us today to discuss succession planning in more detail.

 

For Businesses

• Financial Planning for Business Owners
• Business Succession Planning

 

Financial Planning for Business Owners

Business owners face unique challenges and opportunities in terms of financial planning.

If you are considering moving to self-employment, contact us to discuss how we can work together and revise your financial plan. We  will support you through unique situations such as:

• Benefits for business owners and staff;
• Health, life and disability insurance;
• Tax planning;
• Bank loans; and
• Line of credit;

Regardless of what stage your business is in, contact us today to design a tax-efficient business planning strategy.

 

Business Succession Planning

Many entrepreneurs spend years of focused effort building a business, but then fail to consider how to make the transition into retirement.

We will support you in developing an effective business succession strategy that could include:

• Transforming equity in the business into capital to fund retirement;
• Tax efficient strategies that include life insurance policies,
• Ongoing salary as the business founder; and
• Arranging for an heir to buy shares overtime.

Contact us today to discuss strategies for business succession.