October 2019 Book a Meeting
Have You Considered What Your Human Capital Is Worth?

When considering the "right amount" of life insurance a client requires, it's important think and plan beyond covering the mortgage, debts and a basic heuristic multiple of income. A proper needs analysis incorporates a vital component in linking one's HUMAN CAPITAL to their FINANCIAL CAPITAL.

What is Human Capital? Simply, it is the sum of all the income that you would earn over your working years multiplied by multiplying your take home by the number of years you plan to work. For example, let's take Maxine, a 30 year old Professional Engineer earning $90,000 after tax and planning to...

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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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Commissions, trailing commissions, management fees and expenses all may be associated with segregated fund investments. Segregated funds are not guaranteed, their values change frequently and past performance may not be repeated. Please read the prospectus of the segregated funds in which you invest.
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