Latest Posts

Why You Need to Take Advantage of Permanent Life Insurance Before 2017

July 12, 2016 10:30 am Published by

Last week we talked about the impact of Bill C-43 on the amount a person can invest in permanent life insurance. The crux of the rule changes is this: the amount of money allowed as deposits into permanent life insurance policies in order to maintain tax exempt status is being adjusted. In most cases you’ll, the rules are more restrictive. After January 1st, 2017, new permanent insurance policies won’t allow you to invest as much as tax exempt income. Therefore, if you want permanent life insurance, now’s the time to invest in permanent life insurance.   Why Do I Need Permanent Insurance?...

View Article

Meet the Man Behind the Advice: Marco Faccone

June 14, 2016 10:32 am Published by

The one thing I’ve learned about Marco’s life is that the more you know about investments, insurance, and specific products that might be beneficial, the more you don’t know. Hidden advantages, special perks – Marco knows it all, and there’s nothing he loves talking about more than independent financial planning and fiscal wellness.   Now that tax season is behind us, I was able to borrow an hour of Marco’s time to learn more about his philosophies and the early days of his life in the financial industry.  Kelvin: Tell us a little bit about how you got into this line...

View Article

Two Simple (& Protected) Alternatives to Basic Mutual Funds

May 31, 2016 10:34 am Published by

One of the most important functions here at MGF is ensuring every individual client is informed about the various types of investment products available to them. Every case, every client, is unique. We strive to find the best investment product for every investor, because we all have different timelines for the future, right? Right. Here are two ideas we discuss with people who want to invest in the longterm while being protected in the short term. Segregated Funds With Maturity Death Benefit Guarantees A segregated fund maturity and death benefit guarantee is something we work on with every one of...

View Article

The Pros & Cons of Segregated Funds Vs. Mutual Funds

May 16, 2016 10:34 am Published by

What are some of the activities you’ll get up to this summer? From day to day tasks at home like watering the grass and driving the kids back and forth all over the city, to bigger events like packing up and heading out of town with the family, to finally knocking out that pointless dividing wall in your living room, summer is a great time to unwind and get on with the business of living. Moment like these are prone to sudden sparks of reality. Have you ever caught yourself for a little self reflection? “I’m taking care of my...

View Article

Federal 2016 Budget Changes For Family Tax Credits, Benefits and other Thingamajiggies

March 24, 2016 10:35 am Published by

The Federal Liberal Budget delivered on March 22, 2016 identified several areas of spending on infrastructure and programs, but buried within the details are a few key things that impact the tax credit and tax benefit claims of Canadian families within minor children. Beginning in July of 2016, families with minor children will receive a New Canada Child Tax Benefit of up to $6,400 for each child under age 6 and up to $5,400 for children aged 6-17.  The amount will replace the existing Canada Child Tax Benefit and Universal Child Care Benefit (UCCB) payments.  The amount will also lead...

View Article

What do January Diets, Fitness Programs and Financial Plans have in Common?

January 17, 2016 10:36 am Published by

They all leave you feeling a little spent!!! Pun intended!!  A barrage of recent holiday festivities lead to lots of excuses to eat, be merry and spend money.   We then realize we are out of our ordinary eating habits, our ordinary workout habits and our ordinary spending habits. So with the start of a new year, we try to (re)establish our new plans!   But what stops us? ·         I’m too busy to invest the time/effort. ·         It’s too expensive to follow the plan. ·         I’ll start it later when things slow down. ·         I deserve a treat/break!! ·          Nothing will help me!! Each of the...

View Article

Fifty Shades of Safe: An Investment Perspective

September 15, 2015 10:37 am Published by

Recent market volatility is reminding people of the Financial Crisis. A lot of people do not have fond memories of the downward movement of their investment portfolio during the Financial Crisis.  So there is no surprise that in my business there is more and more questions about “safe” places to invest. “Safe” means different things to different people. “Safe” to someone who cannot handle any risk to their investment means Canada Savings Bonds, Provincial Bonds,  Term Deposits, Money Market Funds, Guaranteed Investment Certificate (GICs) or Treasury Bills.  This version of “safe” is very safe, but this version also typically only yields...

View Article

Is Mental Health Illness the New Cancer to our Youth? And How Early Should We Insure It?

May 23, 2015 10:38 am Published by

In May we support Mental Health Week.  During this week and really throughout May there are various organizations that drive information sessions, self-help programs, and other public awareness campaigns so as to help educate those of us wanting to learn more or feeling the direct effect of mental health illness. I’ve witnessed the impact of Mental Health in my circle of family and friends.   I have lost a dear family member to suicide, and have attended funerals for a series of friends and connections who have lost love ones in similar fashion.  I have seen more and more of our...

View Article

Financial New Year’s Resolutions

January 8, 2015 10:40 am Published by

  Personal Tax Changes to be Aware of for 2014 As we approach April, we approach the season for filing our individual tax returns.   To assist those who want to be update to date on the latest and greatest changes impacting our personal tax regime, I’ve summarized below What’s New in the world of Personal Tax: Family Tax Cut – Up to $2,000 per Year in Savings The October 30, 2014 Federal Budget introduced the Family Tax Cut, a new non-refundable tax credit up to a maximum of $2,000 for eligible couples with minor children (under the age of 18...

View Article

Personal Tax Changes to be Aware of for 2015

January 3, 2015 10:38 am Published by

As we approach April, we approach the season for filing our individual tax returns.   To assist those who want to be update to date on the latest and greatest changes impacting our personal tax regime, I’ve summarized below What’s New in the world of Personal Tax: Family Tax Cut – Up to $2,000 per Year in Savings The October 30, 2014 Federal Budget introduced the Family Tax Cut, a new non-refundable tax credit up to a maximum of $2,000 for eligible couples with minor children (under the age of 18 at the end of the tax year you are filing). ...

View Article