Managing Finances for Individuals

Savings

Depending on your stage of life, chances are you will have a distinct approach to saving. New graduates or young couples have different needs than retirees or mid-career families. But no matter your personal situation, we can help you develop financial habits that will lay a strong foundation for your savings.

• Younger individuals and couples have a number of benefits in terms of financial management. Low insurance costs and a long investment horizon, combined with few responsibilities, can make for an excellent financial base. We can help you build on these advantages while at the same time considering a debt load that might include student loans, car payments, or perhaps a mortgage.
• Couples planning for a first child enter into a new level of commitment, both personally and financially. Learn how to save for a child through specialized insurance and investment products, such as a Registered Education Savings Plan.
• Mid-career professionals typically have higher incomes than younger investors, but they also carry more responsibilities. From mortgage payments to a child’s education, we can help you create a financial plan that balances your needs and obligations.
• Retirees have worked hard at their careers, and now is the time for relaxation and celebration. Chances are that your children have moved out of your home, the mortgage is mostly paid off, and a few investments are coming to fruition. However, income levels may have dropped after retirement. Find out how to manage your finances in a way that allows you to fully enjoy the benefits of your hard work.

Contact Us today to learn how to balance saving and investing with your other commitments.

Tax Planning

No one like taxes. But with the advice of a professional financial advisor, you can access products and services that help ease the burden. Charitable contributions, life insurance policies, and investment products purchased through RRSPs or RESPs can all be useful tools in an effective tax strategy. Working together, we will consider your personal situation and design a tax plan that fits your needs.

Choose from a variety of products and services, such as:

• Income-splitting for spouses or common-law couples
• Charitable donations, which benefit important not-for-profit work and allows donors to maximize tax credits
• Life insurance products that build tax-advantaged capital for retirement
• Investment products that provide for tax benefits, such as those purchased through RRSPs or RESPs

Contact Us today to learn more about tax-planning products and services that are specifically tailored for your needs.

Succession Planning

Preparing for succession after death is a difficult issue to discuss, but it is also an important part of any comprehensive financial plan.

We can help you and your loved ones approach succession planning in a constructive manner that ensures that they will avoid problems and are well cared for in the event of your death. The process involves two main considerations: life insurance and preparing a will.

Life insurance can ease the financial burden and provide security for your loved ones in the event of your death. A lump-sum payment can be used for mortgage costs or to supplement lost income, helping your successors during a difficult period. Financial security and stability can make it easier to cope with the loss of a loved one.

A written will provides a means to guide your loved ones through the succession process. By naming your executors and providing instructions on the distribution of your estate, your surviving loved ones avoid having to guess your wishes. Rather than state law determining how your assets are to be divided—a situation that can result in lengthy court proceedings—a clear, carefully written will provides clear instructions to your successors. Save your loved ones the stress of dealing with financial issues by planning for your succession while you are alive.

Contact Us today to discuss succession planning in more detail.

Mortgages

Buying a home can be one of the most exciting purchases of your life, but it is also a big decision that will have a major impact on financial planning. Whether you are looking at a one-bedroom condominium or a five-bedroom house, we will work with you to help plan a mortgage strategy that fits your needs and considers your other financial responsibilities.

From choosing the right time to buy a house to deciding whether it is even a good idea, we can help guide you through this important decision. By assessing all the costs involved—from taxes to renovations—we will work with you to determine whether taking out a mortgage makes sense for your budget.

If you are considering taking out a mortgage, Contact Us today to discuss how to do so in a way that best fits your situation.