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October 2019 Book a Meeting Client Login
 
 
Would You Like to Have Your Own Personal Pension Plan?
 
 

Most of us save money for the long-term. When you think about it, there's only one reason we do this. That's so that we can have regular income in retirement, liquidity and or legacy.

And although most people think of legacy as leaving money for their kids and/or charity, keep in mind legacy can also mean leaving money for your...

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Beware of this Insurance Trick
 
 

Alicia was about to sign the papers on her new vehicle when she noticed an additional charge of a little over $3,400 for insurance on the Bill of Sale. When she asked the finance manager what it was for, he said, ’Well, that’s for the life and disability insurance for your car loan.’ She was left with the impression that the insurance was mandatory. Alicia didn’t sign the papers and said she would finish them up the next day. She asked for a copy of the coverage wording to help with her decision.

She learned that the insurance would only make her monthly payments if Alicia died or couldn’t work during the loan repayment period. The premium would be a one-time charge added to the financing contract, so she would also have to pay interest on the premium for the..

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Registered Retirement Income Funds
 
 

It is required by the Income Tax Act that a Registered Retirement Savings Plan (RRSP) must be closed by the end of the year in which the planholder (annuitant) reaches age 71. At that time, the annuitant must decide what to do with their retirement savings. They have three options - cash in the RRSP, buy an annuity, or convert to a Registered Retirement Income Fund (RRIF).

While an RRSP is intended to accept deposits, a RRIF is intended to provide the annuitant with a regular, systematic income. The income received from a RRIF is fully taxable. Like an RRSP, the growth is still tax-deferred.

A RRIF can actually be started at any age, but new contributions...

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You cannot control the behavior of others, but you can always choose how you respond to it.
 
Roy T. Bennett
 
Mutual Funds Provided Through FundEX Investments Inc. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Please read the prospectus of the mutual funds in which you invest. The information in this email newsletter is general information only and is not intended to constitute specific legal, accounting, financial or tax advice for any individual.   Full Disclaimer - Privacy Notice