Serving your Insurance, Investment &
Retirement Planning Needs for over 40 years.
Planning
Retirement Planning
Plan for your retirement using our multiple savings strategies, retirement calculators, tax deductions and investment vehicles.
Planning for your retirement is one of the most important things needed in your life but many Canadians nearing retirement do not have a proper plan in place.
When creating a retirement plan you must look at many aspects of one's life by creating a timeline including short, medium and long term goals, financial goals and/or constraints, assets and liabilities, savings strategies, investment vehicles and risk tolerance to name a few.
One most look at all of these aspects of life and many more to put together a proper retirement plan. Each person is a little different and each plan should be catered to that person’s lifestyle and goals. When meeting with our advisors they begin by learning as much as possible about you by asking the right questions and getting you to fill out a questionnaire. They then use special tools and calculators to help determine your retirement needs by looking at your current savings in your RRSP and other savings vehicles, determining the additional amount needed for retirement and creating a proper plan to get you there for the desired age and income.
Things change all the time and so can your plan for retirement. What is important is to meet with your retirement planner and advisor at least once every year to review and potentially re-evaluate and make changes to your plan if necessary. If you don't have a planner then we recommend you get one at your earliest convenience.
Business Planning
Plan for your business using our multiple insurance and investment vehicles including tax strategies, leveraged investments and key partnership insurance.
When starting a business or reviewing your existing business plan, it is important to take a look at aspects of your business goals, tax strategies and partnership agreements with respect to protecting your business.
In a successful partnership, for example, the sickness, disability or death of a partner could suddenly put the business in jeopardy. Vehicles such as lump sum disability insurance, life insurance and critical illness insurance may protect any sudden unexpected occurrence by creating financial security for both the business to carry on as well as the survivors of a deceased partner.
Key person insurance may create the necessary funding to replace a partner or key employee to keep a business operating successfully. Such financial security is key to the bank and major clients continuing to do business in the event of an unexpected sickness or death. Each year a business should review their agreements to identify changes in both the valuation of the business and financial risks related to credit and taxation.
There are vehicles available through life insurance companies that may utilize retained earnings of small corporations to tax shelter savings and take advantage of low corporate tax rates. Some of these plans may invest retained earnings within the business but utilize leverage strategies to invest in other business ventures with further tax advantages. Furthermore such vehicles may be used to cover capital gains needs required to be paid immediately upon the death of a key shareholder of the company. Life insurance proceeds paid to a corporation may be paid out to its beneficiaries in a tax favored manor to the partner’s estate. These are some of the reasons a discussion and review of your business with our team may prove worthwhile to your future of your business.