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How is Your Retirement Shaping Up?

March 3, 2025 in , , , , , /by

If you are one of the lucky ones who participate in a pension plan, consider yourself to be very fortunate. Statistics show that only approximately one-third of paid workers in Canada are covered by a registered pension plan. * If your plan is a Defined Benefit Pension Plan (DBPP) you can consider yourself even more fortunate as this is considered to be the crown jewel of pension plans. The other type of plan available is a Defined Contribution Pension Plan (DCPP). So, how do these plans differ?

Family Business Planning Strategies

February 3, 2025 in /by

67% are at Risk of Succession Failure

If you are an owner in a family enterprise, the likelihood of your business successfully transitioning to the next generations is not very good.

With 80% to 90% of all enterprises in North America being family owned, it is important to address the reasons why transition is difficult.

Estate Planning Tips for Real Estate Investors

December 2, 2024 in , /by

For many Canadians, the majority of their wealth is held in personally owned real estate. For most this will be limited to their principal residence, however, investment in recreational and real estate investment property also forms a substantial part of some estates. Due to the nature of real estate, it is important to utilize estate planning to realize optimum gain and minimize tax implications.

Critical Illness – Are You Protected?

November 1, 2024 in , /by

Critical Illness insurance was invented by Dr. Marius Barnard. Marius assisted his brother Dr. Christiaan Barnard in performing the first successful heart transplant in 1967 in South Africa. Through his years of dealing with cardiac patients, Marius observed that those patients that were better able to deal with the financial stress of their illness recovered more often and at a much faster rate than those for whom money was an issue. He concluded that he, as a physician, could heal people, but only insurance companies could provide the necessary funds to create the environment that best-promoted healing. As a result, he worked with South African insurance companies to issue the first critical illness policy in 1983.

Strategies for Multi-Generational Planning

June 12, 2024 in , , , , , , , , /by

The Sandwich Generation, coined by Dorothy Miller in 1981, describes adults caring for both aging parents and their own children. This dual responsibility is emotionally and financially draining. Effective financial planning is crucial, involving open discussions about family resources, life insurance needs analysis, disability and critical illness coverage, long-term care insurance, and drafting a living will. Addressing these issues can alleviate stress and ensure financial security for all generations.