What is: Financial Security Planning?
Building and preserving Wealth! by Stephen J. Hall
Financial Security Planning; covers many aspects Continue reading
The Canadian Dollar (at time of writing) $1 US = $1.46 CAN… Oil is down to $28.25 US a barrel (overproduction perhaps) and China’s economy is still strong, however slower than it had been. Less demand for Canadian raw materials (Iron, Oil, Aluminum, Potash, forestry etc..) in China and elsewhere has caused this big drop in our dollar and a slowdown in our economy. On the positive side, the financial markets at lower valuations are still providing plenty of opportunities for fund managers to pick up shares of great companies that are trading at prices lower than their real value… This is not the time to panic, but to take advantage of the low market prices going forward (remember buy LOW sell HIGH)… It’s an excellent time to top off your RRSP or add to your TFSA account. Contact me to set up an appointment to review your portfolio.
Stephen J. Hall,
Financial Security Advsior
If you are a business owner or self-employed professional, your business is likely to represent a good portion of your personal net worth. Without you at the helm, however, changes ae that your business would be worth far less. If the worst should occur, your loved ones may not be able to benefit from the value you worked so hard to build.
The value of Life Insurance
A custom-tailored approach
There are many different types of insurance (term 10, 20, 30, permanent life) and a number of ways to set up the policy.
Every situation is unique, which is why it’s a good idea to get professional advice. We’d be happy to take a look at your insurance needs and help you structure coverage to protect both your love ones and your business.
Contact me, Stephen J. Hall at: 514.747.6565 or via the contact page on this website for a consultation.
Ariad Communications. (2015). Insure your business’s most valuable asset. Planning Ahead – The Newsletter of Money Management and Financial Planning Ideas, Vol. 29(No.1).
If you have a Registered Education Savings Plan (RESP) or are thinking of opening one and your child is turning 15, 16 or 17 this year, there are some steps we may need to take to ensure your plan qualifies to receive the Canada Education Savings Grant (CESG).
In the year they turn 16 or 17, kids are eligible for the CESG only if:
Note that your plan does not have to meet both requirements, only one. That said, if any portion of those minimum contributions was withdrawn from the account, they lose their CESG eligibility.
In other words, if you wait until your child is 16 or 17 with the intention of opening a kind of “last minute” RESP; the plan won’t be eligible for any grant money. Otherwise, as long as you’ve been contributing regularly, you should be okay.
Please note that these special rules apply only to eligibility for Canada Education Savings Grant. They do not apply, for example, to RESP holders in Quebec who qualify for the Quebec Education Savings Incentive (QESI).
If you have not yet started an RESP and you have a teen turning 15 this year, be sure to contact us soon (514-747-6565). Your plan can still qualify for the CESG as long as you open it and contribute before the end of the year.
(This article was provided by Ariad Communications)