Will It to be So: Things to Consider for a Strong Will Answer this riddle: what’s the one thing that will eventually happen to everyone, but generally, no one wants to discuss? Death is a subject that immediately conjures up all sorts of emotions because, let’s be honest, the absence of being IS emotional. But, death is also cause for practicality. It’s a cause for stating clearly what to do about money and property so...
Your Protection Strategy Needs a Legal Foundation Any protection strategy that focuses only on insurance can leave you and your family vulnerable to the threat of a legal system which doesn’t necessarily share your objectives. Absent specific, court sanctioned directives on your part, your life and the lives of your family members will be subject to the default provisions of the law that guide critical financial, family, and health decisions when you are unable due...
How to use your investments to make the world a better place Integrating philanthropy and financial solutions Every year, do you make a donation to various charities, hospitals or even to your children’s schools? With this article, I would like to demonstrate how you can benefit from tax shelters while integrating your core values in the global management of your investments. A donation is a charitable gift that is recognized The Canadian and provincial tax...
9 tips to avoid fraud when it comes to your investments The recent Ponzi schemes put in place by hedge fund manager Bernard Madoff or the alleged fraud commited by "financial advisor" Earl Jones sensibilizes us more to possible scams commited when it comes to our investments. In this context, I offer you a list of criteria that aim at helping investors reduce the risk that they will be victims at some point to these...
What Should You Really Expect with Regards to Your Child’s Post-Secondary Education Costs? It’s no secret to any parent with aspirations of paying for their child’s post-secondary education that the cost of doing so is quickly inching beyond the reach of even the most affluent families. Post-secondary education costs continue to increase at a much faster rate than the rate of inflation. For the parents of a new born today, the average total cost of...
The Five Disability Insurance Mistakes People Make 1. Underestimating the Odds of Becoming Disabled The risk of a disabling illness or injury that prevents a worker from doing his or her job is more significant than most people realize. According to information compiled by the National Association of Insurance Commissioners (NAIC), a male worker at age 35 faces a one-in-four chance of a disability taking him off the job for 90 days or longer during...
Personal Loans and Credit Card Payoffs - What You Need To Know With credit card interest rates ranging between 11% and 22%, it’s no wonder people are looking for alternative ways to manage and pay off their credit card debt. This is where a personal loan might come into play; using a personal loan to pay off your credit card debt can help you manage your overall debt once and for all, if you know...
Until recently, many retirees have been able to rely upon the three-legged stool of retirement income sources: a defined benefit pension plan that guarantees a lifetime income, their own savings, and the Canada Pension Plan. Within the last couple of decades, the first leg of the stool has all but disappeared as many defined benefit plans have been replaced with defined contribution plans such as an RRSP.
Long-Term Care as Part of Your Multi-Generational Plan For anyone who has dealt with an aging parent or grandparent the concept of long-term care is likely a familiar one. Those unfortunate enough to suffer from Alzheimer’s or other cognitive illness can end up requiring nursing care that can reach, or exceed, $80,000 per-year, depending on the quality of care. With modern medicine it’s entirely possible to live 10+ years after the diagnosis of a permanently...
Estate Planning 101 People spend a lifetime accumulating assets and building an estate with the intention of passing it on to their heirs or charitable beneficiaries. Without proper planning, a person’s death can create significant hardships on the people for which the estate was created. For an estate to be passed on to the heirs, there could be settlement costs, such as probate fees and terminal taxes. In some cases, where the terminal taxes are...
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Investors Beware: The Media Noise can be Deafening Most people would argue that living in a digital world, with instant access to an endless stream of information has made us smarter and more self-empowered than past generations. Investors believe that it has “leveled the playing field”, enabling them to make investment decisions based on the same information once only available to the investment pros. The incessant quest for information has reached such a fever pitch...