As with many retirement savers, it took two major stock market events (Global Financial Crisis, Global Pandemic) to convince Adam and Sonya that trying to ’time the market’ or pick specific sectors was a costly exercise in futility.
But, with the value of their RRSPs nearly halved in the 2009 Financial Crisis, they also recognized that they could not afford to avoid equities if they were going to have any chance of meeting their retirement goals. That’s when they adopted the time-tested, academically based...
|
Financial Strategies & Divorce
|
History tells us about half of marriages in Canada end in divorce. Andrew and Sara are about to end theirs and are concerned about the changes that will have to be made to their financial and estate plans. Some financial and estate issues they need to consider are:
Life Insurance – The first thing that needs to be done is a review of the beneficiary designations. If there are children, they may be the new beneficiaries and trustees will be needed if they are minors. This will affect both personal plans and group benefits. When one parent is responsible for child support payments, new life insurance may be needed to cover this obligation.
After the sale of their house, Andrew and...
|
|
|
|
|
Estimating Retirement Expenses
|
By far one of the most crucial financial strategy steps is accurately estimating retirement expenses. Correctly accounting for retirement living expenses is critical to ensuring that retirees do not outlive their money. For those already retired, there are usually few good options for creating new income sources later in life.
Getting retirement spending projections correct is both an art and a science. To deal effectively in planning for future retirement needs, a financial professional can help determine the best course of action.
Early into her teaching career, Sheila started working with a financial advisor who helped her plan ahead for a comfortable retirement. She learned...
|
|
|
|
| |
| Online Resources
|
|
|
|
We cannot solve problems with the kind of thinking we employed when we came up with them.
|
|
Albert Einstein
|
|
|
|
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Mutual fund securities are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. There can be no assurances that the fund will be able to maintain its net asset value per security at a constant amount or that the full amount on your investment in the fund will be returned to you. Past performance may not be repeated. Global Maxfin Investments Inc. (GMII) is registered as a Mutual Fund Dealer with the Provincial Securities Commissions and as such our Financial Advisors are entitled to sell mutual funds and other approved securities as permitted under our registration. They may also be able to provide other services or products to you through their own business. As a member of the Mutual Fund Dealers Association of Canada ("MFDA"), GMII is obligated to disclose to you that you may be dealing with companies other than GMII when purchasing services or products from your Financial Advisor (remuneration to your Financial Advisor may also come from various sources depending on the services or products purchased). For example, your Financial Advisor may offer any one or more of the following through a separate business, which would not be the responsibility of GMII: Deposit Instruments: GICs, Canada Savings Bonds; Fee for Service Financial Planning; Estate Planning; Tax Planning; Insurance: Life, Accident, Sickness, Disability, General. Please be sure that you have a clear understanding of which company you are dealing with for each of your services and products. Your Financial Advisor would be happy to provide any clarification you require. This publication contains opinions of the writer and may not reflect opinions of GMII. The information contained herein was obtained from sources believed to reliable, but no representation, or warranty, express or implied, is made by the writer or GMII or any other person as to its accuracy, completeness or correctness. This publication is not an offer to sell or a solicitation of an offer to buy any of the securities. The securities discussed in this publication may not be eligible for sale in some jurisdictions. If you are not a Canadian resident, this report should not have been delivered to you. This publication is not meant to provide legal or account advice. As each situation is different you should consult your own professional advisors for advice based on your specific circumstances.
|
|
Elite Life Financial Inc.
5705 Cancross Court
Suite #200, Mississauga, ON
L5R 3E9
Ph: (416) 953-5174
|
|
|
|
|
