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income protection

How is Your Financial Parachute?

Most of us take for granted that we will be able to get out of bed every morning and go to work to earn a living. We base all of our financial plans on this seemingly obvious concept. Our most valuable asset is the ability to earn an income. Unfortunately, it is also one of the most vulnerable and most of the undesirable things that can affect it are beyond our control.

Insurance Needs for Small Business Owners

For many small business owners, what began as a bright idea or an innate desire to exercise their entrepreneurial spirit turned into a new enterprise with the promise to provide for them and their families. Even the most successful small businesses are significantly reliant upon the continued health, vision and skills of the business owner or a key person. Without the owner or key person, the likelihood of the business continuing is greatly diminished. It can mean instant death for the business with devastating consequences for the owner, employees and their families.

Financial Planning

Many people will offer you advice on which investments to buy. But there's more to your financial life than your RRSP. Estate taxes, income taxes and education funds for your children are just some of the other complex aspects of your total financial picture. You need a Certified Financial Planner to help you develop an effective financial plan.

Personal financial planning focuses on you as an individual – bringing together all the financial and psychological factors that have an impact on your life.

A well-designed financial plan will help you reach your personal financial goals and objectives, and give you a greater sense of security.

Many people call themselves financial planners, but the true professional financial planning practitioner uses the Total Financial Planning Process, which is made up of six distinct steps.

Step 1 Helps you clarify your present situation by collecting and assessing all relevant financial data – assets and liabilities, tax returns, records of securities transactions, insurance policies, wills and pension plans.
Step 2 Helps you to identify financial and personal goals and objectives, and also to clarify your financial and personal values and attitudes.
Step 3 Helps you to identify financial problems that can create barriers to your financial independence.
Step 4 Provides you with written recommendations and alternative solutions. These should be structured to meet your needs without undue emphasis on purchasing specific investment products.
Step 5 Assists you to implement the right strategy to ensure that you reach your goals and objectives.
Step 6 Provides a review and revision of your plan to ensure that you achieve your goals.

How do you know if you need a Financial Planner?

People hire financial planners for many reasons. These questions may help you decide if you need professional financial advice.

  • Do you have the time to attend to your personal financial affairs?
  • Are you confused about conflicting financial advice from several sources?
  • Do you feel you are paying too much tax?
  • Are you confused about where to invest your money?
  • Do you feel that you can't make ends meet?
  • Do you feel that you can't save any money?
  • Has there been a recent change in your life that could affect your financial future, such as retirement, job loss, an inheritance, an addition to your family, or loss of your spouse?

Contact our office in you are looking for information about your long term financial strategy.