Asset Building Strategies
In the last article Sue had a capital shortfall of $400,000 in order to support her desired retirement lifestyle. This amount will vary for each individual and will be larger or smaller depending upon your income, age and ability to save money as a percentage of your earned income. Broadly speaking there are only two […]
Your Legacy Plan and Charitable Giving
Recently, a client wanted to leave all of their money to two charities through their Will. They wanted to leave a legacy to a couple of charities that were close to them and they didn’t have any close family members. Here is her situation: Age 80, $550,000 in savings (75% non-registered and TFSA), with income […]
How to Pay Less Tax With Life Insurance
Ray had thought of his life insurance purely as a protection plan. The anti-avoidance rules and general restriction of tax benefits applicable to most shelters prompted him to take a new look at his life insurance for tax deferral as well. A type of policy, called Universal Life, separates the cost of insurance and the […]