Category Archive for: ‘Financial Planning’

Succession Planning – Do the Tough Things Right

Do the Tough Things Right… How to Prevent Communication Disasters in Family Business Do the Tough Things Right…how to prevent communication disasters in family business. “Are you having a hard time starting the conversations about who gets the family business, and when?” This book is designed to help you nail down the key challenges you need to talk about. It’s …

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Farm Succession Planning – In-Law Factor

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Farming’s In-Law Factor… How to Have More Harmony and Less Conflict on Family Farms Every farm teams wants harmony on their family farm and this book will show you how to get it. You’ll gain insights into how family systems work . The culture of agriculture section is a great primer for urban folks or new farm brides from the …

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Your Will: Legacy or Disaster

What Will You Leave Behind1

I have commented before on the folly of having wills that are out of date, or worse yet, having no will at all. This is especially serious for farmers or small business owners who have built up significant wealth over their lifetimes. When asking people if their wills are current or what their children think about them, the response is …

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Another Reason for a Succession Plan

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Watch this video with Dr. David Kohl discussing the new issues arising with lenders. Lenders are starting to include transition management in loan qualification as a strong succession plan is being viewed a strategy to minimize credit risks.

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Willing Wisdom

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Willing Wisdom – 7 Questions to Ask Before You Die by Thomas William Deans speaks on how you leave your money and possessions is as important as what you leave. A staggering 50% of North Americans have no will. For those who do, most wills remain badly outdated.Dying without a will can leave a legacy of chaos and anger for …

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Why We Need Life Insurance


Life insurance can’t change unfortunate circumstances, but it can soften the blow and give your family time to heal when the unthinkable happens. 5 minute video to check out by Farm Credit Canada. FCC video on life insurance

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Are you living paycheque to paycheque?

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A recent survey taken of thousands of Canadian employees found that just over half would have difficulty paying their monthly bills if their paycheques were delayed by just a week. The same survey highlighted that things are getting tougher for many working Canadians, as those who are living paycheque to paycheque are saving less than they should be. This is …

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Understanding Investment Costs


Advisor Transparency

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Common Myths about Life Insurance

Knowledge Is Power1

Our ultimate mortality is an issue that many of us don’t care to face up to, and any discussion about life insurance forces us to have to. Insurance is an unselfish gift that one leaves behind for your family and dependents, eases the hardship for loved ones as not burdened with debt at their time of grieving. Families can be …

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Farmers and Retirement- Will You Get to Enjoy the Fruits of Your Labour?

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In the 44 years I’ve had the good fortune of working with farm families discussing farmers and retirement, I’ve found there’s commonly a disagreement between farm spouses about when to retire. Farm wives see their urban friends retiring, working part-time or volunteering at age 65, compared to their husbands wanting to die with their boots on, still farming. When asked …

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Cash Flow Problems?

Stressed Lady1

In today’s hectic world, I’m finding a concern across all age and income levels is managing day-to-day cash flow. Many Canadians are running out of money before running out of month, and are making up the difference with lines of credit, credit cards and charge accounts. Banks, credit card, and finance companies love to collect the incredible amount of interest …

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Critical Illness – A Greater Risk than Dying?

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A healthy 35 year-old male has a significantly greater risk of suffering a disability or critical illness prior to age 65 than he will of dying. Continual medical advances are extending our life expectancy, while at the same time increasing the likelihood that we will survive major illnesses such as cancer, stroke and heart attacks. It’s also why Canadians need …

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Taxation Changes Will Dramatically Impact Some Canadians

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Proposed taxation changes to how CRA will tax prescribed annuities are hidden in other changes planned for life insurance products. Currently, insurers are using the 1971 Mortality Table rates. After December 2015, the proposed new regulations will require that insurers use the 2000 Mortality Table rates with its increased life expectancy. The result will be a drastic increase in the …

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You can be lucky – it just takes Hard Work and Perseverance!

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People often tell me that I must have been lucky to get to where I’m at in life, to which I reply “Yes I’ve been lucky, and I find that the smarter and harder I work, the luckier I get!” Yes I am lucky, in that I chose to move to Canada from England when I was 22, to have …

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Creditor Insurance

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My recent article regarding creditor insurance has brought out a lot of interesting questions that I thought that I would take the time to clarify these further. Beneficiaries – Beneficiaries are the person/persons who receive the financial benefits from a policy. When you have mortgage insurance (creditor insurance), the lender is the beneficiary. This means you have no control of …

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Joint Life Insurance Coverage

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When meeting young couples for the first time, I commonly find some who have purchased a joint life insurance policy (first to die) because of the perceived saving over combined coverage. They were not told that for a little more money they could have double the coverage by insuring themselves individually. Compare a $1 million joint first-to-die, 10-year term policy …

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Why You Need Critical Illness Coverage

Couple With Doctor

Though most Canadians understand the need for life insurance, they often don’t understand the need of critical illness coverage. The sad reality is that, one out of every three of us will suffer some type of critical illness prior to age 65, with cancer, heart attack and stroke the three biggest risks. If you were to suffer a critical illness, …

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Life Insurance 101- The Basics

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Selecting the right type of insurance coverage is easier when you understand how the different types can work for you. Life insurance can be purchased two basic ways; term or permanent. Term Insurance is purchased based on a specific time-related need.  That may be to cover a mortgage or loan, to protect a family until children reach adulthood, or some …

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Letter to Kevin Sorenson

  Kevin Sorenson – MLA Crowfoot, Minister of State (Finance)                                       July 28, 2014 Dear Kevin, I am passing along a copy of my recent financial article in the Stettler Independent’s Weekender edition paper, published on July 25th 2014. It’s time that both the federal government and our provincial government took a stand against banks being allowed to sell mortgage …

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Caring For Elderly Parents


Many Canadian families caring for elderly parents are struggling to fill the gaps left by our already strained public system, and some are spending their own savings to provide that care. Many seniors are better prepared financially for their death than for life in their retirement years. A recent survey estimated that 70% of caregivers will provide financial assistance to …

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