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 That said, if any portion of those minimum contributions was withdrawn from the account, they lose their CESG eligibility.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)
In this workshop, you will uncover:
September 23, 2014. Holiday Inn, Pointe-Claire, 7PM
Click here to register
Lama Farran is a personal finance coach, based in Montreal. Unlike a traditional financial planner, she does not sell any financial product. Instead, she guides her clients on their path to financial stability and empowers them with the knowledge required to take control of their personal finances. Through one-on-one coaching sessions, she uncovers their spending habits and establishes realistic budgets that fit each client’s unique lifestyle. She ensures they are progressing in the right direction through regular follow-ups. She is known for her empathetic and professional approach, which makes talking about money challenges feel therapeutic.
Before embarking on this journey, Lama earned a Bachelor of Commerce and a Graduate Certificate in Finance from McGill University, followed by a Master’s degree in International Accounting and Finance from the London School of Economics in England. She has also completed a series of personal finance and investment courses through the Institute of Canadian Bankers. She enjoyed 8 years of professional experience at the Royal Bank of Canada and Bank of Montreal. Her banking experience included several positions ranging from corporate lender, to branch manager and Wealth Management Director. However, she was only satisfied professionally when she combined her finance knowledge with her passion to genuinely help people with their finances and their budget needs specifically.
For more information on our Guest speaker… visit Lama’s Website at www.maxworth.ca
” It’s been a month since I met with Lama and WOW what a change in my money perspective ! I now take a minute longer before making a purchase and I ask myself the question “do I want this or do I want to retire on a beach sooner? I have implemented many of her suggestions already: 1. I met with a rep from my bank and made a retirement plan, 2. Paid off 100% of my credit card 3. Booked a meeting with my RRSP and RESP broker to put money aside more regularly. I am VERY focused on paying off my line of credit and getting to that warm spot sooner! Thank you so much Lama!”
“Thank you again for our financial session. It was extremely helpful and informative, and I feel a great sense of relief that I am finally doing something to deal with my financial situation. It was also very therapeutic to talk about my money challenges without feeling judged. Thank you so much for everything you have done for me — to help me finally take action to deal with my financial problems. I feel so relieved that I can now begin to get my life back under control”.
P.S. Administrative Assistant
Today (after many months of deep thought and hard work) I’d like to begin by thanking all the people for making this website a reality. Technical design and concept: WSI Montreal with particular mention of the guidance and patience of Laurie McCullaugh, Chris Murray and the rest of the WSI Team www.wsisme.com . Content creation, copywriting and Translation services provided by Kathleen Gran, her tireless research, attention to detail and keen eye for the right “look” has given this website the “Red Dot Effect” visit her website at www.Kathleengran.com .
The main goal of this website is to help educate people on various financial security, estate and retirement concepts and ideas. Also To simplify the complex world of: Life, Health, Disability and Critical Illness Insurance; estate and investment questions without confusing jargon and acronyms
Please feel free to request a quote or a service using the online forms or simply say hello and leave your comments in the space provided. You can also sign up to receive our blog posts as they are updated.
Thank you, please come again