Investment

How to get the most from your savings

Saving for the future is the cornerstone of wealth management but it can be trickier to get to grips with than it seems. There are a wealth of different types of product on the market to choose from but the first step starts with identifying what your personal reasons for saving are. We all have a different purpose or objective, be it saving for a house, your child’s future education or even for your retirement and we will be able to support you in choosing the most appropriate savings option for your own situation.

With this in mind, let’s take a look at some of the more common products available:

Products with guaranteed interest

This option is best suited to those who prefer a lower level of risk, as it offers the protection of your original investment with the opportunity to earn interest at a predetermined, albeit probably lower, rate. These products have the benefit of offering you peace of mind and security from market fluctuations that may diminish the amount of your original investment.

Many factors will influence your return, including the interest rate itself, the amount of your investment, length of the term etc.

Mutual funds

These products are ideal for those looking to invest in the longer-term as they are subject to fluctuations in the market which can vary, sometimes losing value in the short term but potentially offering higher returns in the longer term than products with guaranteed interest payments.

Take your time to research the funds available on the market which are targeted to your own investment strategy.

Segregated funds*

Similarly to mutual funds, segregated funds are market-based but offer additional benefits due to the fact that they are insurance contracts.

A big plus of this time of investment is the fact that your savings will be protected and you will be guaranteed to receive between 75% and 100% of your initial investment, less withdrawals, back upon the maturation of your contract or in the event of your death. Some segregated fuds also offer an income which is guaranteed for life.

Tax-advantaged savings plans

There are a couple of common plans, as follows:

    • An RRSP (registered retirement savings plan) offers you a personal savings and investment account which also benefits from tax benefits.
    • A TFSA (tax-free savings account) provides the opportunity to save for the future, without paying tax on any growth.

Talk to us, we can help.

Latest News

The Benefits of Consolidation

When putting together your financial plan, there is no question about the benefits of consolidation. The importance of having a financial plan is the ability to coordinate, consolidate and be able to implement your plan to achieve your goals.

Paying for Education

Post-secondary education can be expensive, however having the opportunity to plan for it helps with making sure that you’re capable to meet the costs of education. In addition, when you have a plan, it’s easer to make financial decisions that align with your goals and provide peace of mind.

6 Steps to Retirement Success

Retirement planning can be challenging, we’ve outlined what we feel are 6 steps to retirement success. Talk to us about a complimentary comprehensive review of your retirement plan.

Registered Disability Savings Plan (RDSP)

Helping people who lack contractual capacity create an RDSP even when they don't have a substitute decision maker

The Best Way to Buy Mortgage Insurance

Before buying insurance from your bank to cover your mortgage, please consider your options. What does the insurance cover?

The Importance of a Financial Plan

The importance of a financial plan. Working with us to create your financial plan helps you identify your long and short term life goals.Talk to us to see how we can help you.

Do you REALLY need life insurance?

You most likely do, but the more important question is, ‘What kind?’ Whether you’re a young professional starting out, a devoted parent or a successful CEO, securing a life insurance policy is probably one of the most important decisions you will have to make in your adult life. Most people would agree that having financial safety nets in place is a good way to make sure that your loved ones will be taken care of when you pass away. Insurance can also help support your financial obligations and even take care of your estate liabilities.

Getting the best from a financial advisor

Working with a professional to help you to make sense of your finances can be a wise move, but for this relationship to work effectively it is important that you understand what to expect from your financial advisor.

2018 Federal Budget Highlights for Families

Several key changes relating to personal financial arrangements are covered in the Canadian government’s 2018 federal budget, which could affect the finances of you and your family.

*A description of the key features of the applicable individual variable annuity contract is contained in the Information Folder. Any amount that is allocated to a segregated fund is invested at the risk of the contract holder and may increase or decrease in value. Product features are subject to change.