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Disability insurance is the most important part of a complete financial plan

“Think about it. Virtually all the things you are working toward – retirement, a real estate purchase, paying off debt, a family vacation, a new vehicle, whatever – rely on your ability to earn income. Take away that ability to earn income and you will see how quickly your priorities change.” Smart Money_ Disability insurance…

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Also posted in Insurance Columns |

If I was Prime Minister

“It’s election time, and the political promises are thick. This has me thinking what I would do if I was the Prime Minister. Bearing in mind that I am not running for office, and I am not letting pragmatism get in the way of this column, including costing any of this out. I am not…

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Also posted in Planning Encyclopedia |

What does a financial planner do?

“I get it that financial planning might seem dull and unexciting to some. And I am not saying that you need to care about my own financial planning practice. But you should care about your own financial planning. Part of the issue is that a lot of people don’t really know what a financial planner…

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Also posted in Planning Encyclopedia |

Are you using your group benefits properly?

“Your group benefits booklet is your instruction manual for what your employer is offering to do for you. Now, I get it that some people don’t like reading instruction manuals, but the consequence of not reading this instruction manual is that you could be leaving free money on the table. And who doesn’t like free…

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Also posted in Insurance Columns |

It’s not what you make, it’s what you keep

“The question is not, ‘Can I grow money outside of an insurance policy?’; Or, ‘Will there be short-term volatility in the equity markets?’’; Or even, ‘Do I need more earned income in the current tax year?’ The real question is: ‘Am I doing what I need to in order to meet my objectives?’ It’s not what…

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Also posted in Income Tax Planning |

Do you have enough to retire?

“A recent study by Aon found that the average Canadian needs to accumulate 10.9 times their final pay to maintain their income in retirement. In other words, if you are making $100,000 when you retire, you are going to need $1,090,000 in savings going into retirement or you risk running out of money in your lifetime….

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Also posted in Retirement Planning |

Using leverage to help reach your financial objectives

“Used wisely, leverage can help you reach your financial objectives. But you do want to make sure the idea fits your situation, and that you understand the entirety of the strategy, including what could be daunting levels of risk. Certainly, you can cut a lot of wood in a short period of time with a…

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Also posted in Investment Management, Risk Management |

Preparing for good health and success

“How are your finances positioned to sustain a multi-decade retirement? With medical advances plus better nutrition and health habits, there is a well-documented upward trend in longevity. It’s one thing to live a long time, its another to make sure that your money lasts as long as you do.” Smart Money_ Preparing for good health…

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Also posted in Retirement Planning |

Don’t overthink it

“The way forward here is to focus on your real objective. There may be 1000 potential options, but if only 10 of them are consistent with helping you move toward your objective then you can quickly screen out all the ones that don’t fit and focus on the ones that do. After all, you don’t…

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Preparing for the inevitable

“If I was to tell you that there is something that is guaranteed to occur, would you do anything about it? What if I was to tell you that by taking action now you can significantly reduce expense, delay, and burden on your loved ones. Would you do anything?” Smart Money_ Preparing for the inevitable…

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Also posted in Estate Planning |
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