Services
What I do
Financial planning
Do you see some senior citizens working at Super Store or Walmart, while entering the store? 56% Canadians are entering retirement without any savings because they live pay cheque to pay cheque. 14% Canadian retirees are forced to work because they don’t have enough money to pay their bills.
Is this the life you are leading towards? I am sure, you don’t even imagine that life.
So, prepare yourself to combat financially-challenged time, ensure education for kids’ or grand kids’, pay-off your debts early. Prepare to lead worry-free retirement life, manage long-term care needs and transfer wealth to your next generations.
Once a solid and comprehensive plan is established and active, you will review in case of any major financial events and the progress with the advisor.
Investments
The investment solutions you will receive include: RRSPs, TFSA, RESPs, non-registered funds. The portfolio will potentially include the most advantageous but unknown area like protection plan or insurances.
You will count on unbiased recommendations and impartial guidance. The solutions you will receive are customized to your needs and goals. You rely on proven financial strategies designed to mitigate your risk tolerance level. As a result, your investments will stand up against market volatility.
The solutions will be designed tax-efficiently for both contribution and withdrawal period. Your strategic financial planning will be done in a comprehensive and tax-advantaged manner. Your beneficiaries will receive the money tax-free, from certain investment vehicles.
You will enjoy the solutions that are risks mitigated and costs minimized.
Ultimately, you will be able to keep more money for your family!
Retirement planning
Retirement is the time when you don’t have enough energy to work, but have all the expenses and bills to pay. Moreover, you don’t know how long you will survive and what are the situations and life experiences you will go through.
Canadians’ average lifespan is 87 years, now. With the advancements in health science, by the time you will reach your retirement age Canadians’ lifespan will be even longer. This is about ¼ of your lifetime. Are you saving enough for this time? How much do you need to save?
You will get help on how to save for this time of life in a most tax-efficient manner, for both before and after retirement time. You will be able to optimize your savings in different investment vehicles, like pension plan, RRSP, TFSA and other non-registered plan, considering your current and retirement situations.
You will learn how much you will receive from Old Age Security (OAS), Canada Pension Plan (CPP) and other benefits if you qualify for. You will enlighten us with your desired retirement lifestyle. You will collect information about how much you will receive from your pension plan and other retirement savings.
For ensure your worry-free retirement life, together we will figure out your pre and post retirement financial plan.
Wealth Creation
Whether you are an individual, business owner or a professional, you would like to enjoy financial freedom. Meaning, you don’t want to worry about money. You dream about a life where you will spend money without thinking twice.
Being ‘wealthy’ means, having abundance of money or valuable possessions. But for more than 91% Canadians, it’s a dream that never comes true, unfortunately!
For creating wealth for you and your family, all you need to do is bring discipline in your savings life. Make a decision that you will ‘pay bills to yourself’ first. Then start savings and make it a ‘habit’ by practising every single month. The third and final step is to keep ‘patience’ for long time, until you reach retirement age.
It might sound easy but very difficult to plan and practice. Obviously, you need help of a financial professional to make sure you’re saving, your savings are converted to investment and are growing at a faster rate. You need to identify your goals, develop a comprehensive plan to achieve those goals.
You need to plan for managing your taxes as well so that your hard-earned money is not going to Government, but to your life and your next generations.
So, consult a financial professional! You don’t need to come to me. Go to anyone you have trust and confidence. Stick to your plan and review regularly with your consultant.
Insurances
- Life insurance – What will happen to your family, in your absence? How are they going to pay the mortgage and manage other living expenses? The most probable answer is, they will financially suffer and compromise with their lifestyle while can never replace you, unfortunately. If you protect your life with insurance, your family will get some time to adjust their lifestyle and to find out another source of income.
- Critical illness – Everyone likes to imagine a future with perfect health but that’s not always the case. Life surprizes you with some unexpected and bitter experiences. Be prepared for these emergencies and plan for the unexpected.
- Disability insurance – You have protected your car(s) and home(s) by buying insurance. What have you done to protect your income, the biggest asset in your life? What have you thought about protecting your pay cheque? What will happen to your family if you lose your ability to earn a living because of a disability?
- Travel insurance – Not all expenses are covered by provincial health insurance! Specially when your travel out of Canada. Neither your visiting parents and relatives are covered. A visit to hospital emergency department for a day would cost $1,000 to $3,000. Would you like to pay that and more or protect yourself from that unforeseen cost?
Tax Planning
In country like Canada where you pay 25% to 54% of your income in direct income tax.
After paying your income tax, you pay GST, PST or HST anywhere between 5% to 13%.
You save money and grow that for future, pay again taxes on that growth.
Finally, and most importantly, when you will pass away, your next generation have to pay wealth transfer tax again on every single penny that you have accumulated throughout your lifetime and have paid taxes on. This wealth transfer tax rate is equals to marginal tax rate of about 50% (48% to 54% depending on which province you live in).
Most of your hard-earned money is going on taxes by making the government the most beneficial party.
In these situations, it’s extremely important to manage your taxes efficiently.
There are ways to minimize your tax burden. All you need to do is plan in advance, even before making investment decision, as part of comprehensive financial plan!
- Retirement Planning
- Private Wealth Management
- RRSP, RRIF, TFSA & RESP Plans
- Estate Protection Planning
- Mortgages & Corporate Debt
- Critical Illness Insurance
- Protection / Life Insurance
- Group Benefits
- Segregated Funds
