Life Insurance VS Creditor (Life) Insurance from my Mortgage Supplier

Today I was contacted by the bank that has my mortgage and they were selling “Creditor Insurance” coverage.  “Creditor Insurance” is the Lenders version of the 3 normal main financial planning insurance products – Life Insurance, Long- Term Disability Insurance, and Critical Illness Insurance. The person on the phone was very clear this was not […]

Retirement Planning Goes Beyond Just Finances

Many Canadian think of their retirement in terms of leisurely activities, travelling and even just relaxing on the couch. However, living that life may be much different than anticipated. Studies have shown that many seniors find the novelty of not working wears off quickly and that it is a struggle to maintain a sense of […]

RRSP contribution or mortgage payment?

If you’re like most people, the dollars you have for savings are not unlimited. That means you have some decisions to make, including whether it makes more sense to pay down your mortgage quickly or invest in an RRSP. It’s true that reducing your mortgage quickly makes a lot of sense, but you’ll also need […]

4 Reasons Estate Planning Is So Important

1. Estate Planning Prevents Unintended Beneficiaries If estate planning was once considered something that only high net worth individuals needed, that’s changed. Nowadays many middle-class families need to plan for when something happens to a family’s breadwinner (or breadwinners). After all, you don’t have to be super rich to do well in the stock market […]

Master your finances by starting to do this one thing

All you have to do is set up an automatic savings/investing plan that kicks in every payday. It comes down to just paying yourself first. When you save automatically, you have the freedom to spend anything left over after covering your regular bills and expenses. Drink lattes. Eat avocado toast. Live it up, or dial […]

Women have a longer life expectancy, retirement planning even more important.

The most ignored aspect of retirement planning just might be that women live longer than men. Among people aged 65, just over half are female. At 75 years of age, 57 per cent are female. At 85 years old, 68 per cent are women. These statistics were provided by Kristina Hidas of the Healthcare of […]

TFSA Contribution Limit increased to $6000 in 2019

TFSA Contribution Limit has increased to $6000 in 2019 The Canadian Federal Government has increased the yearly Tax-Free Savings Account (TFSA) contribution limit from $5,500 to $6,000 starting in January 1st, 2019.  This is a scheduled update by the Government.  The actual TFSA yearly limit was set at $5,000 in 2009 when the investment was […]