Employment Termination Series: How Do You Handle Your Company’s Pension Plan?
Many companies may offer pension plan as part of the employees benefits, where these plans are considered as one of the most important source of retirement funding beside government pensions and personal savings. However, when employees leave the company before they retire, what are the options available? Last time, we’ve talked about the treatment to [...]
Canada Disability Savings Bonds (CDSBs)
Is the Registered Disability Savings Plan (RDSP) only for the wealthy families? In my previous posting, we have discussed over the Canada Disability Savings Grants (CDSGs). Although it is one of the most generous matching grant from the government of Canada, it often leads to the question: “If a family is earning low-income, and unable [...]
Should Small Business Owners Choose Traditional Health Insurance Plan? or Health Spending Account?
Traditional Health Insurance Plan? or Health Spending Account? I’ve been working with many small business owners, unless they have coverage from their spousal plan, most of them will need to get their own health and dental coverage. Generally speaking, there are 3 ways they could finance their health expenses: Pay directly from their own [...]
Life Insurance Strategy for Young Families in Canada
Universal Life Insurance and Term Life Insurance in Canada I was talking to a client the other day. He is in his early 30s with a good paying job. As he is starting his family, he expressed his concern in the case of premature death, he will not leave sufficient savings for his family. We [...]
Turning $12,000 Disability Savings into $40,000 in three years
RDSP Example: Last November, I did a RDSP workshop for families with special needs. During the presentation, I illustrated an example of how contributions toward the Registered Disability Savings Plan could bring in huge benefits from the government. Many attendees were astonished after we went through the calculations together. Below is an example I recently read from an article on [...]