Investment Planning

Saving for the future not only provides for a retirement safety net, it can act as protection for future needs.  Having an emergency fund readily available is crucial, whether it be through registered investments, tax-free savings, or non-registered funds.  We can create a sound financial savings portfolio for short and long-term goals.  Taking advantage of some incentives such as tax deferral, deductions from income and tax-sheltered savings, we can put together an investment portfolio tailored to your expectations. 

Here are some basic questions to help get started on thinking about retirement:

What income would you like to receive in retirement?
At what age are you planning to retire?
How much income should be allocated to your spouse?
What tax brackets are you in currently and do you anticipate remaining in the same tax brackets at retirement?
Is there enough invested to supplement the duration of your retirement? 

Segregated Funds

Segregated funds are similar to mutual funds, being pooled funds.  However, they have the added benefits.

There are some advantages to Segregated Funds over other alternative type of investments.  Only offered by insurance companies, they are able to be purchased in registered investments as well as non-registered investments, the investment has the potential to hold guarantees, usually between 75% to as much as 100% of premiums paid  (minus fees and any withdrawals) upon maturity or upon death.

Other advantages include the ability for a named beneficiary, allowing segregated fund contracts to be potentially creditor protected.  This shields any investments within from bankruptcy or any legal claims.  Further, the named beneficiary feature allows for segregated fund contracts to bypass the probate process.  Therefore, it allows for beneficiaries to acquire the investments much quicker and less costly than the estate process, while maintaining a level of privacy.  These investments are an efficient way of ensuring the individuals you care about receive the investment you owned and worked hard to build over the years.  For more information on segregated funds, contact us.  

Registered Retirement Savings Plan (RRSP)

An RRSP is a retirement savings plan that you establish, that is registered with the Canada Revenue Agency, and to which you or your spouse or common-law partner contribute. Deductible RRSP contributions can be used to reduce your tax.

Any income you earn in the RRSP is usually exempt from tax as long as the funds remain in the plan; you generally have to pay tax when you receive payments from the plan.

To learn all the facts, please contact us. 

Tax-Free Savings Account (TFSA)

The Tax-Free Savings Account (TFSA) allows Canadians, age 18 and over, to set money aside tax-free throughout their lifetime. Each calendar year, you can contribute up to the TFSA dollar limit for the year, plus any unused TFSA contribution room from the previous year, and the amount you withdrew the year before.

The annual TFSA dollar limit for 2017 is $5,500.*

All income earned and withdrawals from a TFSA are generally tax-free. Plus, having a TFSA does not impact federal benefits and credits. It's a great way to save for short and long-term goals.

To learn all the facts, please contact me.

* For more information, please visit Canada Revenue Agency's TFSA website. 

Registered Education Savings Plans (RESPs)

A Registered Education Savings Plan (RESP) is an investment vehicle primarily used by parents to save for their children's post-secondary education.

The primary benefits of using an RESP to save for your children's education include access to the Canadian Education Savings Grant (CESG) and the ability to shelter the RESP's growth from taxes until funds are withdrawn.

There's lots to know about RESPs and how they fit into your family's overall financial picture. For more information, please feel free to contact us.

What is an Annuity?

An annuity is a plan that makes payments to you on a regular basis. It might be a general annuity, a payment from a registered retirement income fund (RRIF), or a variable pension payment. These payments are part of your total income and are reported on your tax return.

To learn all the facts, please contact me.

Source: Canada Revenue Agency


Advantage Account

Advantage Account is a high-interest savings account that offers a high interest rate and gives you the features and flexibility of a chequing account – all in one account. With online and telephone transfers, pre-authorized chequing and bill payments, and debit card access, you can access your money when and where you need it.  

Plus, Advantage Account now offers unlimited chequing for free when your balance is $5,000 or more!

Making deposits into your Advantage Account is free, and withdrawals are free when your balance is $5,000 or more at the time of transaction.

For more information about Advantage Account, please contact us.

Manulife Bank

Manulife Bank is a Schedule I federally chartered bank and a wholly-owned subsidiary of The Manufacturers Life Insurance Company.  Established in 1993, it was the first federally regulated bank opened by an insurance company in Canada. Manulife Bank was created to support the sale of the parent’s core products and assist financial advisors in providing fully integrated financial plans to their clients.

Leveraging the Internet and cost-effective telephone banking technologies, Manulife Bank provides its customers access to their bank accounts 24-hours a day, seven days a week. Today, Manulife Bank manages more than $22 billion in assets and serves clients across Canada in all provinces and territories.

To learn more, click here.

Registered Retirement Income Fund (RRIF)

A RRIF is a fund you establish with a carrier and that is registered with the Canada Revenue Agency. You transfer property to the carrier from an RRSP, RPP, or from another RRIF, and the carrier makes payments to you. Establishing a RRIF can be done at anytime, but must be done no later than the year the annuitant turns 71. Once a RRIF is established, there can be no more contributions made to the plan nor can the plan be terminated except through death.

You can have more than one RRIF and you can have self-directed RRIFs. The rules that apply to self-directed RRIFs are generally the same as those for RRSPs.

For more information, please contact us.

Source: Canada Revenue Agency