4 Questions to Ask Your Financial Advisor



Did you know a financial advisor can help you live your best possible life within your personal budget? According to The Investment Funds Institute of Canada, you are more likely to become wealthy if you meet with your financial advisor on a regular basis. “Academic studies confirm the higher levels of wealth achieved by those who use advisors on an ongoing basis. These investors also have better savings habits and are more confident in their ability to meet their retirement income needs.”


As your financial advisor, I help structure your finances and set attainable goals. All the while ensuring you’re on track and on time to meet financial milestones. I won’t say you can’t buy a sports car or take on the home renovation project of your dreams; my job to help you manage those plans along with your core financial goals. If you want to improve your finances, all you have to do is ask.


Here are four questions to ask your financial advisor:


Am I ready to retire?

To find out if you’re ready to retire, we’ll explore your financial situation as well as your goals. This will help determine if you’re ready to leave the workforce based on how much money you have saved and what type of lifestyle you want (and can afford) during retirement.


How much money do I need to save for retirement?

The amount needed for retirement is based on several factors, both personal and financial. These financial factors include your own personal savings accounts and group savings plans as well as outside sources of income such as the Canada Pension Plan and Old Age Security. 


Personal factors that determine how much you need to save for retirement include your target retirement age as well as your tolerance for risk with different investment options.


Where is the best place to put my money?

We will work together to determine your current and future financial goals and figure out the most efficient way to reach them. The way you save and how you want to withdraw money in retirement will determine how we invest now.


There are several different account options available such as a Tax-Free Savings Account, a Registered Retirement Savings Plan (RRSP) and non-registered investment accounts.


How can I earn interest on my investments?

Earning interest and other returns on your investments is a great feeling and it helps your account value grow over time. You can earn different levels of return on your investments including interest, dividends and capital gains. 


The type of return earned depends on the type of investment option chosen, income investments provide different levels of security and returns than equity investments. As your financial advisor, I can help determine the best investment options and strategy.


It’s important to plan your financial future with eyes wide open. This includes staying informed and working with a professional. You want to know how much money you need in retirement, which account type is best for your goals (and your taxes) and what types of investment options are available. When it comes to your finances, no question is too small and every question is important. Let’s work together to answer your financial questions and plan for retirement. 

Which Type of Life Insurance Do You Need?


Choosing the right type of life insurance isn’t always easy and it’s not always something people want to talk about. However, having an estate planning conversation with your family about what happens after you’re gone can help them be financially prepared for what’s next.


Why is life insurance so important?


Finding the right type of life insurance is important for a number of reasons. If you want to make sure final expenses are covered, your last tax bill is paid and alleviate any debt burden from your family upon your passing then purchasing life insurance may be a smart financial decision. The proceeds from a life insurance policy pass on to your beneficiaries tax free and can help relieve financial stress during their time of grief that comes with losing a loved one. 


Could you imagine losing a loved one, being consumed in grief and having to deal with trying to pay funeral costs, executing a Will, visiting a notary, trying to carry out last wishes and getting into debt because of it. I certainly couldn’t. That’s why talking about life insurance with your family is so important.


Have the talk with your loved ones


Some people don’t like to talk about finding the right type of life insurance because they feel it’s a bad omen and some people don’t buy life insurance because they don’t feel they can afford the annual premiums. Based on all the information above, my question to you is, can you honestly afford not to?


What type of life insurance do you need?


Regardless of your financial situation, most people need life insurance. However not everyone needs the same amount or the same type of coverage. That’s where the assistance of a professional comes in. Talking to a financial advisor can help find the right type of life insurance that’s best for your (and your family’s) needs.


Getting established

Whether you’re single, have a young family, trying to build your career, or managing your first mortgage, critical illness insurance or disability insurance can help protect your income.

Building a business


If you’re an entrepreneur responsible for protecting your business and your family, consider protecting your company with term life insurance (for small businesses and start-ups) or permanent life insurance (for more established companies).

Approaching retirement


Getting ready to transition out of the workforce in the next few years? You may want to prepare to leave a legacy with permanent life insurance, and protect your retirement lifestyle with long-term care insurance.


If you want to learn more about the different types of life insurance contact me today to find the coverage that fits your needs.


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Welcome Sherif Garis

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Starting in May 2016, the Branch welcomed Sherif to the team as a co-op student from Lakehead University.  Sherif will be taking on some of the duties of Meghan while she is off for a Maternity leave.