In previous entries, I wrote about some of the financial planning basics that I address with clients. You may have worked through some of it, but my experience tells me that procrastination and a busy life often puts it to the side to be dealt with later. There may be a quicker way to get this [...]
You spend time worrying about risk management for your company, but do you periodically review your personal financial risk management needs? Knowing that the answer is often, “no,” here are a number of areas that you may wish to consider and discuss with an insurance/financial advisor. Buy-Sell Agreements As a shareholder or a partner in [...]
Also filed in Insurance, Uncategorized
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Tagged Alberta, business overhead expense, buy-sell, critical illness, disability income, disability insurance, Edmonton, financial advisor, group benefits, key person, living benefits, long-term care insurance, Lunch 'n Learn, personal financial risk management, travel insurance
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Just as I published tipsheets some time back, I am going to prepare some considerations for business owners and executives. I’ve been sketching my ideas to share, but I also wonder what you are concerned about. If you think of personal financial security, or risk management, what questions or concerns do you have? Is there [...]
The question asks if you should contemplate using your RRSP for your down payment through the Home Buyers’ Plan. The answer? It depends! Let me first provide a link to Canada Revenue Agency’s Home Buyers’ Plan (HBP) information on their website. This program allows you to withdraw money from your RRSP to buy or build [...]
I’m pleased to present Steve Gillis’s first guest post on a blog. Steve has been a financial advisor and a junior/senior high school teacher. From our contacts, I know he is passionate about delivering financial information to high school students. Here’s what Steve has to say… Our schools have failed our children. Most students [...]
I’m pleased to share a guest post from Nancy Zimmerman, a Canadian Money Coach. Nancy makes it clear that she is not a financial planner! Rather, her blog focuses on “helping Canadians be savvy, informed and thoughtful about their money.” I met Nancy on Twitter where you can follow her as @moneycoach. Here today, Nancy [...]
Also filed in Budgeting, Finances for Women, Uncategorized
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Tagged @moneycoach, divorce, economic unit, Finances, financia strengths, Money, money coach, Nancy Zimmerman, partner
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Wednesday, April 29, 2009
I will never forget a situation that a colleague described in my first year or two as a financial advisor. He talked of a client who came in for his annual review. The client proudly told the advisor that he had purchased disability insurance as had been recommended. While this step was good, his advisor could [...]
Also filed in Insurance, Investment Planning, Uncategorized
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Tagged annual financial review, critical illness, education savings, Financial Planning, group investment, guaranteed income for life, health & dental, key person, life insurance, long term care, needs analysis, partnership agreement, retirement savings, segregated funds, shareholder agreement, tax-free savings, travel insurance
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I was asked a question the other day as a little thought was being given to the retirement years. The question was regarding the value of continuing a disability insurance policy, assuming it would no longer provide a potential benefit. This assumption may not be correct! If you have group or association coverage, it likely terminates when [...]
If you have followed some of my recent blog posts, you will have noted my passion for the Living Benefits. Completion of the Registered Health Underwriter (RHU) designation is part of my commitment to working in this area. To help educate employees on personal and group coverage, with Life Insurance and the Living Benefits, I am offering [...]
Also filed in Finances for Women, Insurance, Investment Planning, Uncategorized
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Tagged critical illness, disability, free seminar, health and dental, life insurance, living benefits, long term care, Registered Health Underwriter, travel insurance
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I was asked this question yesterday. Without going into the specifics of the person involved, I do have a general response. In order to save, it is important that you have uncommitted income after deducting your expenses from your income. If the number is negative or pretty much break even, one of two things has to happen. Either [...]
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