Skip to content

Thinking of Cancelling Your Life Insurance?

Have you found yourself wondering if you really need that life insurance policy you pay for every month?  You are not alone.

As time goes on we often forget the reasons behind purchasing the amount and type of coverage we did. For this reason it is advisable to have regular reviews to make sure you are adequately protected.

Perhaps you are having trouble making ends meet and are looking to trim expenses.  Maybe you simply don’t think you need it because the kids are getting older and your obligations to them have diminished.  Some may feel that they have enough assets accumulated that insurance is no longer necessary and even a waste of money.  Before you make the decision to cancel your life insurance policy, consider these compelling reasons to keep it. Read more

Can Probate be Avoided?

Executors often find that the probate process can be both time consuming and expensive.  Planning strategies exist that may eliminate or reduce the requirement of having assets probated.

What is probate?

Probate is a legal procedure that validates a deceased’s will and confirms the executor’s authority to carry out the testator’s wishes. This provides assurance to third parties such as financial institutions and land registry offices that the executor has the power to deal with assets according to the will. Read more

Ease Your Retirement Worries with Immediate Annuities

The majority of Canadians work hard to accumulate a retirement fund and many are averse to exposing savings to unnecessary market risk after they retire.

In today’s prolonged low interest rate environment, immediate annuities are often dismissed or overlooked as a viable vehicle for providing retirement income. Perhaps they shouldn’t be.

An annuity is an investment that provides a guaranteed income stream for a set period of time or for the lifetime of the annuitant. While annuities may not be for everyone, for those trying to find a way to guarantee income in retirement Immediate Annuities may be the answer.

3 Retirement Risks to Avoid

Outliving Your Savings

No one wants to outlive their retirement fund or leave their surviving spouse without resources. An immediate life annuity either on a single life or a joint life basis could be the answer for those looking to ensure that their monthly living expenses are taken care of for the rest of their lives. Read more

Retirement – Are you Prepared?

Whether you are decades away from retirement or if it is just around the corner, being aware of the planning opportunities will take the fear and uncertainty out of this major life event.

Blue sky your retirement plans to get clarity

As you approach retirement, preparation and planning become extremely important to help ensure that this period of your life will be as comfortable as possible.   If you are like most, you have spent considerable time contemplating the type of retirement you wish for yourself.

  • Is extensive travel your dream?
  • Do you have an expensive hobby or two you want to take up?
  • Will you stop working totally or continue to do some work on your own terms using your life experience and skills to supplement your income.
  • Will you remain in your house or will you downsize to smaller, easier to care for premises? Or perhaps housing that will be more compatible with the challenges of aging?

Read more

The Corporate Estate Transfer

If you are the owner of a successful company it is likely that you have retained profits or surplus cash in your corporation.  If this is the case, chances are also good that this invested surplus is exposed to a high rate of corporate income tax.  If this describes your company then you may be a candidate for the Corporate Estate Transfer.  This strategy provides tax sheltered growth as well as maximizing the estate value of your company upon your death.

What is a Corporate Estate Transfer?

The Corporate Estate Transfer is an arrangement in which the company purchases a tax exempt life insurance policy on the life of the shareholder using corporate funds that are not needed for immediate business purposes. In doing so, the transferred surplus grows tax-deferred while the death benefit of the life insurance policy increases the value to the estate when the shareholder dies. Read more

ARTICLES OF INTEREST

13
Feb

Supporting adult children takes its toll on boomers’ retirement plans: survey

As baby boomers approach retirement while their children look for financial help, many are feeling the financial strain.

A new TD survey found 62 per cent of boomers can’t save enough for retirement because they’re supporting adult children or grandchildren. Those kids, however, aren’t taking that money obliviously: 44 per cent of millennials who rely on their parents’ or grandparents’ support said they know that help means fewer retirement savings, and 43 per cent said they’d cut costs rather than asking for financial help.

Read: Canadians postpone retirement to support children

“As a parent or grandparent it’s natural to want to help our kids and grandkids who may be facing financial challenges such as finding full-time employment or paying their day-to-day expenses,” Rowena Chan, senior vice-president at TD Wealth Financial Planning, said in a news release. “It’s important that this desire to help is balanced with the goals you have when it comes to retirement.” Read more »

17
Jan

Three trends that will drive Canada’s economy in 2017

There are three trends that will guide the Canadian economy in 2017. Those are:

  1. the strength, or lack thereof, of oil prices;
  2. domestic housing developments; and
  3. whether the U.S. economy continues to improve.

So says Russell Investments’ 2017 Global Market Outlook, which calls for modest growth in the coming year for Canada.

“Moderate improvement in the price of oil and reasonable growth of the U.S. economy are weighed down by debt-laden households,” says Shailesh Kshatriya, director of Canadian strategies at Russell Investments Canada Limited. “We expect domestic equities to be positive, but without the exuberance of 2016. However, domestic bonds likely will be challenged as lacklustre fundamentals may be partially offset by rising yields in the U.S. […] On balance, we see 2017 economic growth in the range of 1.6% to 2%.”

 

Read more

©iStockphoto.com/SusanneB