Blogs

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Here is a description of each work retirement plan and some key differences:

Defined Contribution Plan (DC)

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Here are some reasons why permanent life insurance is very valuable:

Provides liquidity when it's needed. If you're primarily invested in real estate, a private company, or other illiquid assets, where's the cash going to come from to pay taxes owing when you're gone? Life insurance can solve the problem.

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With an aging population, the role of executor is becoming more valuable. Have you or someone you know been asked to act as an executor? Do you see yourself as having to deal with this role sometime in the future? If so, we are here to help! We know the unfortunate truth about the executor role is that it is triggered after the loss of a loved one. So in addition to your executor duties, you will also be grieving. 

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Here is a scenario:

• Gerald has a RRIF worth $180,000
• Doreen is Gerald's wife
• Gerald's RRIF minimum for this year is $7,800 - We set a payment schedule that gives him $900/mth on the 1st day of every month.

Gerald passes away on 30-March. What happens?

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A RRIF represents the pay-out phase of retirement plans.

What I need to know about RRIF's

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Individuals in career transition who are vested members of a pension plan will be faced with the decision whether to leave the vested pension entitlements on a paid up basis with the company and eventually receive pension income, or transfer out the pension entitlements.

Hello;

Here is a list of the main factors which affect your credit score: (comments from Equifax and TransUnion)

Payment History

• Pay all your bills on time. Paying late or having your account sent to a collection agency has a negative impact on your credit score
• A good record of on-time payments will help boost your credit score

Delinquencies