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Summer

Most Summer people (Summers) are between the ages of 30 and 50 and are typically married or living common law, starting a family and looking to buy their first home.  Being a Summer is all about “Building your Wealth”! 

Employment earnings are starting to increase and it is important that your savings plans and investments keeps pace with your earnings growth.  Now is a good time to start an Registered Education Savings Plan (RESP) savings plan for your children.  The Canadian government will help you save for your child’s education through the Canada Education Savings Grant (CESG). 

Buying your first home and applying for a mortgage can be a challenging and daunting task with many new terms and concepts to learn.  Having a financial advisor help guide you through the process can be invaluable.

Protecting your family by ensuring that your risk management plan is thorough and well designed is a crucial step for responsible Summers.  This includes making sure you have a Will and an insurance portfolio that meets you and your family’s needs.

Key planning considerations in the Summer season include:

  • Increasing your savings plans
    • What is a Tax Free Savings Account (TFSA)?
    • What is a Registered Retirement Savings Plan (RRSP)?
  • Buying your First Home
    • What is the First Home Buyers Program?
  • Updating your risk management plan
    • How much life insurance do I need?
    • Is life insurance expensive?
    • What type of insurance should I buy?
    • Should I buy my mortgage insurance at the Bank or through my financial advisor?
    • Do I need critical illness or disability insurance?
    • What is “exempt” insurance?
  • Basic estate planning
    • Wills and Powers of Attorney
  • Understanding employee benefits
    • Employee group benefits
    • Employer group RRSP’s and pensions
  • Start an Registered Education Savings Plans (RESP) for your children
    • What is the Canada Education Savings Grant?