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Retirement Planning, Made Simple and Easy
Save yourself from burdening the weight of economic instability. Turn to Sterling Mutuals Inc in the greater Toronto area today and start building a strong foundation for your future.
Financial Planning
We face financial uncertainties every day. Stock market values and interest rate swing. Moreover, we need to consider taxes, inflation trends, and debt. However, we can be certain about one thing: the future will come regardless of whether you are financially ready or not.
Roch Beaulieu, CFP, can help you achieve your financial goals by using clear, easy-to-understand financial concepts. He can guide you through the following questions:
- How much do I save?
- How much will it cost to live in retirement?
- How do I generate retirement income?
- How do I handle Social Security and Tax burden?
- How do I protect my family?
Retirement Planning
Baby boomers have redefined retirement. What does it mean to you? Remember that you can be young without money, but you can’t be old without money.
Where will you live? What will you do? What activities will you participate in? Will you have the income? Where will it come from? Do you want it guaranteed? What should you be doing now to ensure your success? Will you be alright? Will your family be alright?
Investment Planning
Now is the right time to jump-start the engine to your success! Keep in mind that a sound and effective investment strategy does not have to be complicated. For your benefit, we use a simple, straightforward, and conservative investment strategy.
Ways to Have a Great Financial Portfolio:
- Own quality investments
- Invest regularly
- Invest for the long term
- Use professional management
- Be clear on your objectives
- Pay attention to taxes
- Once your plan is in place, it should only need minor adjustments from time to time.
Decisions on your accounts are made every day. Most days, however, the best move you can make is to do nothing.
We know that Canadians are bombarded with advice and tips from financial commentators, newspaper articles, and other product recommendations daily. Because of this situation, we regularly remind our clients not to let our patience and discipline be viewed as inaction on our part. We are always actively executing the strategy for your success.
Life & Disability Insurance
What is the difference between life and disability insurance?
Life insurance can take care for your loved ones after you pass away, while disability insurance can ease the financial burden if you get sick or injured.
Why Life Insurance:
- It can be used to pay off your mortgage or outstanding debts.
- Help to take care or daily living expenses.
- Your family can continue living their current lifestyle.
- Plan for funeral expenses.
- Make decisions without any financial constants because of loss of income.
How much life Insurance do you need?
There is no one size fits all when it comes to life insurance. What type and how much is required is based on the individuals’ needs such as:
- Age
- Health
- Income
- Current financial situation
Also, the type and amount will change over time. Major life events like, having children, divorce or change in financial position.
You may have heard this before. “I am worth more dead than alive”, which is actually untrue in many cases. Most people are way under insured. Take for example a person making $100,000 year for the next 25 years. You could say that his/her worth is at least 25 x 100K – $2,500,000. Now if money were no object $2,500,000 of coverage would make sense. In reality though, one should plan to purchase as much as reasonably fits in their budget. This is especially important for young families with children.
Do you have a mortgage?
If you do, then you probably have “mortgage insurance” which is really life insurance. Have you ever wondered why many Canadians opt for Life insurance over mortgage insurance? There are very good reasons for that.
1. With Life insurance, you own the policy which means that you can chose to do whatever you want with the proceeds versus with Mortgage Insurance the bank owns the policy. It is designed to protect the bank by paying off your mortgage balance even if you have other more important obligations.
2. You always want to maintain control. You may have children’s education to pay for, you may want to pay down only a portion of your mortgage balance, you may need to pay off other higher interest debt. You may need a new vehicle. These are examples of why YOU should own the insurance and not the bank. The proceeds go to you and you decide what to do with it. You should consider Life Insurance to cover your Mortgage balance instead.
3. Mortgage insurance is decreasing term insurance which means that the value goes down as you pay off your balance versus an amount that remains fixed with Life Insurance.
4. Life insurance is cost effective. You can shop the market and get the best rate. You will be surprised at how much the premiums differ.
Which type of life insurance is right for you?
You first need to think about what you are trying to protect. A further discussion with a Certified Financial Planner is recommended.
WHY DISABILITY INSURANCE?
Disability insurance is sometimes referred to as Income protection. It provides a monthly benefit that can be tax-free in the unfortunate event of an illness or injury. The goal is to provide financial security throughout the policy term until you can get back to work. The benefit terms are usually 2 years, 5 years, to age 65 or to age 70. The longer the term the more expensive the premium will be.
