January 2019 Newsletter

Smart Money January 2019 Newsletter


Prosperity is on the horizon! Our best ideas at our best pricing, and with client-focused convenience as one of our primary objectives. It’s where my own money is headed. I look forward to telling you more in the very near future.

Financial Planning In Action

Recently I had Kelly write up a number of case studies that illustrate common financial planning scenarios. Please see the story of Margret, a 40-year-old with kids that are approaching adulthood. Up until now she has been able to put a little away for the future, but she has had other priorities too. See the impact that an additional $4000 in annual savings combined with optimized tax planning has on her eventual retirement income.

You can see a few more of these case studies under the Planning Section of our website, www.bradbrainfinancial.com . We will be adding to them periodically so be sure to check back from time to time.

Parents and Grandparents, please read

I have already written about this in recent newsletters but it bears repeating. The thought of a child with a serious health issue keeps me up at night.

I can’t do much about whether a child has health issues, but I can help with how the family faces it financially.

Critical illness insurance will pay a tax-free lump sum payment 30 days after the diagnosis of a covered critical condition. I spent some time in Easter Seal House in Vancouver this summer. Trust me, if someone gets sick the expenses accrue very quickly. (In my case all is well, but it was an inside look at how families cope with illness.)

Juvenile critical illness coverage has been available for a while though. Here is the unique development…

You get a critical illness policy that will pay a tax-free lump sum to repair the family finances if your kid gets sick, and you can get a full refund of premium after twenty years if your kid stays healthy. You could use that refund of premium money to help pay for their education, provide the down payment for their first home, or even fund a business venture.

Or you could keep the valuable coverage in force, and the policy is fully paid up after twenty years. If your infant daughter ends up battling breast cancer at age 55 she can have additional financial resources to do so, all from the bit of money you set aside for her today.

Coverage if you need it. Your money back if you don’t. That’s a pretty great scenario.

Check out this interview with Avagail Carnate and then call us to discuss further.


My own kids already have critical illness coverage, but I like this product so much I am personally buying more of it for them. Please let us know if you would like to find out more.


The RRSP deadline for 2018 tax deductions is March 1, 2019. The TFSA contribution room for 2019 is $6000 plus any carry forward room.

Qualified Referrals Welcome

Feel free to pass this information along to your friends and family.

If there is anything that we can do to be of service, please let us know.

All the best,

Brad Brain, CFP, R.F.P., CLU, CH.F.C., CHS, CIM, FCSI, TEP

This article was posted in Smart Money Blog.
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