Life insurance

Whole life, or permanent, life insurance is more than just added security, it is a valuable tool that's well worth the cost. Here are a few reasons why you should consider getting permanent life insurance.

Coverage Is For Life 

• Coverage does not expire, as long as you pay your premiums

Level Premiums

• Your premiums stay the same for the life of the policy. There are also limited pay options where the policy is fully paid up in 15 or 20 years.

Tax Shelter

• Investment growth inside the policy is sheltered from tax and can transfer to beneficiaries tax-free upon your death

Earn Dividends

• Provide incredibly steady rates of return with low volatility.

Access To Equity/cash values

• Cash values accumulate over time and can be utilized through withdrawals, policy loans or leveraging. People who max out their RRSPs and need another place to grow tax sheltered money should look here!

Eliminates debt at an important time. 

• If you have debt, do your loved ones a huge favour and provide them with greater financial security by paying off your debt with life insurance proceeds when you’re gone.

Enhance And Equalize Your Estate

• Leave a legacy without liquidating investments or use it as a tool to provide cash to the heir that didn't get the cottage for example.

Continuity Of Your Business

• Provide a cash infusion to help provide your business and business partners the chance to grow and thrive in your absence. 

Want to know more? Contact us today and let us help you feel secure about your financial future.

Post-Secondary Savings

Do you know anyone heading to College or University this September? Here are some tips on how to financially prepare your student.

Help them make a budget: The first year of post-secondary education can be a shock financially, and will take some getting used to. Sit down with your student and make a list of expenses so they can plan ahead.

Suggest they open both a chequing and a savings account: It is important for students to learn not to spend every penny that they make. Encourage your student to split any income they may have between a chequing and a savings account.

Tell them to save their receipts: Come tax time, students could benefit from holding onto all those pesky receipts they have floating around in their wallets. Things like bus tickets for commuters and even textbooks can be applied to their income tax. It will also help your student have a detailed record of their spending to see where they can cut costs.

Encourage them to skip the Starbucks line: Buying lunch everyday or grabbing a $7 latte on their way to class is not financially savvy. Teach your student that it's okay to treat yourself here and there, but by avoiding the Starbucks line they can save big bucks.

Suggest they get a part time job: If they can manage, finding a part-time job is a great way for students to make a little extra cash while at school. Encourage them to look for jobs on campus, or tutoring jobs that can provide flexible hours.

Remind them that student loans are not a piggy bank: Remind them that their student loans are not to be used on anything else other than school. While it can be tempting to use some of that cash to buy a new pair of shoes, the debt isn't worth it.

Talk to them about the dangers of bad credit: Missed credit card payments can affect your students finances later in life. Teach them about the risks of late payments, and encourage them to pay off their balance at the end of each month.

Want extra helping guiding your students through their post-secondary journey? Contact us today, we are happy to help!

Mutual funds 101

Do you invest in mutual funds? Mutual funds are a great foundation for your investment portfolio. Mutual funds provide the added value of access to a wide variety of investments that are backed by expert money managers who aim to manage risk and maximize your returns.

How much do these added values cost? The ongoing cost to maintain a mutual fund is worked into what is called MER (Management Expense Ratio). MER isn't paid directly, but rather built into the cost of the mutual fund itself.

What does the MER pay for? The cost of the MER is paid out to three teams of experts. The mutual fund company, the mutual fund dealer and your investment representative. Within these teams, a portion of the fee is further dispersed to smaller teams within their umbrella. All of these teams work together to help you get the most out of your investments. 

MER costs can vary, but overall the minimal cost is well worth the benefits it accompanies. Watch the clip below and see for yourself.

Need extra help with your investment portfolio? Call us today and let us help you build an investment portfolio that will help you to achieve your financial needs, goals and dreams.

What the BREXIT vote means for investors

As you may have heard, following Thursdays referendum, the people of Britain have voted to exit the European Union (EU). Given the unexpected nature of the vote, coupled with the uncertainty of the situation, this will most certainly cause some volatility in the Global Markets.  It is important to note that prior to Thursdays vote, the majority of experts felt that the chances of this separation happening were slim to none, leaving many unsure of whats to come. While we cannot predict the future, there is one thing to remember during times of uncertainty. That is, that markets tend to over-react, which tends to cause a dislocation between stock prices and their actual value.  This is when it really pays to have great ACTIVE MANAGEMENT, who can take advantage of these situations. 

As your financial advisors, we want to ensure you that, just as with any other significant event around the world, this is definitely not a time to panic. 

Please let us know if you would like to discuss this issue and/or your current investment holdings. To contact our offices directly, please email info@c2inc.com

Financial Care: Caring For Your Aging Parents

Financial Care: Caring For Your Aging Parents

As the population ages, many Canadians will soon find themselves caring for their parents or asking their adult children for help. For some the change comes about gradually, but for others the onus happens suddenly. 

A common area of concern for adult children who are starting to watch their parents’ age is helping them to manage their financial situation. Learning to cope and manage someone else’s financial house including investments, real estate, cash flow, estate preservation and tax planning can be difficult.

Even if you feel as though your parents are well enough to tend to their own finances, it never hurts to keep a watchful eye.

To help prepare you and your family for managing what's to come, we suggest taking these proactive steps.

Consolidate accounts – If your parents have multiple bank accounts, try to reduce the number of accounts and institutions. This will help both you and your parent(s) stay organized, and could help them to save money in banking fees.

Review statements-If they’re comfortable sharing their financial details, your parents might be able to set you up to receive copies of their statements. Doing this adds an additional level of oversight and will allow you to watch for signs of financial abuse. Make sure to watch for large transactions, unusual money transfers, and unrecognized fees/pre-authorized payments.

Prepare a financial data organizer- Use the organizer to note account numbers and the names of their advisers. You may also choose to include details pertaining to any life insurance policies, information on safety deposit boxes and where to find important legal documents or account passwords.

Your financial organizer should be reviewed annually to make sure everything is up-to-date and that it reflects any changes that have been made. You may also want to consider talking with your parents sooner rather than later to ensure that you have all of the [correct] information, before they start to forget.

Need extra help? Continuum II has put together a personal records organizer just for you. This is a great tool to help you organize your own personal financial plan, or that of a loved one. Find it here.

Review their estate plan-It is important to ensure that wills, powers of attorney, personal directives and similar documents are up-to-date before it is too late. Even if they appear in good standing, it is important to walk through what would actually happen with assets on death, as not everything will pass through the estate and be addressed by a will.

Keeping your eye on your parents estate plan can also help with future fees and tax implications. Even for the most modest estate taxes and probate fees can reach into the tens of thousands, so it's best to plan ahead and take all proactive measures to reduce possible fees.

How can we help? With our team of experienced financial advisors we can provide you and your parents with additional care to help ensure that all of your financial needs are in order. 

Strategically, we can help develop a plan based on each unique situation to map out how your parents may be able to live comfortably in their older years. Similarly, we can identify investment, tax or estate strategies to help preserve your parents’ wealth.

Don't forget to check out Lise Andreana's book "Financial Care for Your Aging Parent" covering key decisions every adult child of an aging parent must make to provide financial support in a loving way to the people who matter most.

Have questions? Contact us today, we are here to help.

Critical Illness Insurance

A survey of Canadians across the country shows a disconnect between the likelihood of a critical illness and planning for the financial implications such an illness could bring to the average Canadian family. 

According to the survey,

Based on the above, more than half of Canadians are concerned about what may happen financially in the event of a critical illness. Despite the concern, three out of four Canadians are not physically, financially and emotionally prepared for a critical illness in the family.

As your financial advisors we are here to help secure your financial well-being and help you to plan for your future. If you are looking for additional protection on top of life insurance, Critical Illness Insurance is one of the things we suggest.

What is Critical Illness Insurance? This form of insurance pays out a lump sum cash payment should the insured be diagnosed with a critical illness. The money could then be used to help cover the costs associated with a life-altering illness, or replace lost income or any number of things.

Why consider Critical Illness Insurance?

• Can help to reduce the stress a serious illness can take on your mental, physical and financial well-being.
• The lump sum payout could be used for costs of living expenses including paying your mortgage or day to day bills.
• It could help you to maintain your independence by assisting in the payment of treatments or services not covered by your typical heath care plan.

What is covered? Critical Illness Insurance, although it differs from plan to plan, typically covers up to 24 various illnesses and conditions including;

• Cancer
• Heart Attack
• Stroke
• Blindness
• Alzheimer's
• Multiple Sclerosis
• Organ Transplants
• Kidney Failure
• Paralysis

Note: Coverage may also vary according to the degree of severity of, or conditions associated with, your illness or disease.

If you have never considered Critical Illness Insurance before, the time is now. Don't fall into the same gap that 50% of your fellow Canadians have. 

We want to help. Contact us today for more information or a quote.

Visit criticaluncovered.ca and take the quiz to see how your readiness stacks up.

Physical and Financial Health

A healthy life, helps for a healthy wallet.

Eating well can boost your overall health and help you feel your best. When you feel your best, it is reflected in all aspects of your life, and yes that includes your financial health.

Building a healthy lifestyle into your financial plan is important for everyone, whether you are retired or still working. We would like to highlight the importance of a healthy lifestyle and it's overall impact on your financial health.

By working to maintain a healthy lifestyle it can help reduce the possibility of needing to reach into your own pocket to cover medical expenses that are not covered by a benefits plan. Extending a healthy lifestyle into the workplace, and into your home, can help boost your overall performance. Good nutrition and a healthy active lifestyle, can make you feel more energized, which can help relieve stress and improve cognitive functions. In feeling more alert and energized, you are also more likely to make better financial decisions.

To help you get started on boosting your overall health, our in-house nutrition guru Taylor Gray suggests taking these steps towards building a healthier lifestyle. 

1. Pledge to make a small, nourishing change and stick with it, one meal at a time.
2. Make your goals S.M.A.R.T.
3. Post your healthy eating goals in the kitchen and at your desk to keep healthy eating top of mind.
4. Monitor your progress with a food diary or an app like eaTracker so you can stay on track.
5. Share your goals. Enlist your family and friends to support, not sabotage, your new habits.

 Starting improving your overall health today.

Follow and 'like' us on Facebook to read all of Taylor's tips and see how we are implementing them in our office!