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Did You Sell Your House This Winter/ Spring? Make Sure You Don’t Sell Your Insurance Payout to the Lender as Well…
At this time of year, there are an overwhelming number of moving vans on the streets. From May to July, many people are de-cluttering, packing and getting to Canada Post to change their addresses.
Unfortunately, when refinancing, people usually get suckered, (yes suckered) into purchasing “mortgage insurance”.
For our blog today, we’re keeping it simple.
If you could obtain a GIC type vehicle that yields between 6 – 7 % guaranteed for the rest of your life… would you investigate it?
We’ve been astounded at the amount of seniors that are getting dinged with incredibly high income tax bills due to the way that they invest their money in bank or credit union GICs.
We’ve said it before; we believe that GICs are bankruptcy on a plan. Why? Read More→
Simply put, the market roller-coaster of 2011 rattled confident investors. In our office, an increasing number of NEW clients have come to us specifically to provide them with investment guarantees that provide a Return or Capital on their money and/or a healthy annual payment anywhere from 5% to 7%.
Because our team lives and breathes in the world of investments and financial strategies to grow wealth and reduce taxes, it’s hard for any of us to believe that a significant number of couples do not talk to one another about money. In the summer of 2011, Boston based Fidelity Investments conducted the 2011 Fidelity Investments Couples Retirement Study on American couples.
The study found that couples reaching retirement and those in retirement were “struggling with overall communication, planning and management of their retirement finances”. In fact, only 41% of those surveyed confirmed that they handled their investment decisions for retirement savings as a couple. Surprisingly, 58% of the respondents worked with an investment professional, but only 35% worked jointly with that professional
Tip: Divide your money between three areas: Retirement: Estate Planning; Current – The ‘Now Stuff’.
Let’s identify the purpose of each box.
The Retirement box holds your RRSP and Pension. It is classified as mid-term 5 to 10 year money.
The Estate Planning box is the box that holds your money for longer than 10 years. It is designed to fund the balance of your retirement and to put it bluntly, death.
Tip: Make this your goal – “I plan to have a good time spending my money while making sure my children or grandchildren will have all that I want them to have.”
It is very important to keep in mind that: “Life isn’t a trial run. You don’t get to do this again.” This is it!
Bob Proctor, internationally acclaimed motivational speaker, and featured contributor to the globally successful book and movie “The Secret” expresses it well when he says:
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Tel: (705) 733-3338 Office Locations: 117 Bayfield Street, Suite 101, Transamerica Building 5000 Yonge Street, 8th Floor, With the help of our Toronto financial advisor, Investors Source Wealth Management Toronto can help you reach financial goals sooner. Our Toronto financial planner will develop a custom plan tailored to your specific needs. If you are looking for a Barrie financial advisor we also have Investors Source Wealth Management Barrie and our Barrie financial planner can help you with your financial planning or Barrie life insurance needs. |
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