Financial Planning
We make the financial planning process a simple and rewarding experience. Offering our clients comprehensive and customized solutions to help them achieve their financial goals and objectives. Our services include debt and cash flow management, insurance, investments, retirement, taxes and estate planning.
Objectives
Emergency Fund:
3-6 Months of current living expenses e.g.
If you become unemployed how would you cover your cost of living?
Debt Elimination:
Strive to consolidate and eliminate debt, such as car loans, student loans, and credit cards.
House Down Payment:
Mortgage lenders typically require a down payment of 10-20%. To obtain a $500,000 mortgage it would require a down payment of $50,000-100,000.
Retirement Savings:
The earlier you start saving for retirement the better, as it allows you to take advantage of compound interest. The later you start the more challenging it becomes to reach your retirement goals.
Children's College Planning
An RESP is a great way to save for a child or grandchild's post- secondary education. Investments in an RESP grow on a tax-deffered basis. Take advantage of the college education savings grant and the Federal Government will match 20% of the amount you contribute to the RESP, up to a maximum of $500 per year. The lifetime maximum CESG you can receive is $7,200 per child. The lifetime RESP contribution limit is $50,000.
Income Protection:
Life insurance is a protection against the loss of income that would result if the insured passed away. The named beneficiary receives the proceeds tax free and is thereby safeguarded from the financial impact of the death of the insured.
Estate Planning:
Estate planning is the process of anticipating and arranging, during a person's life, for the successful transfer of their estate. Estate planning can be used to eliminate uncertainties over the administration of probate and to maximize the value of the estate by reducing taxes and other expenses.