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There are numerous financial planning tips that individuals in
Canada can consider to help make more appropriate investment decisions.
Financial planning tips are also available to help reduce income
tax and help with estate planning needs.
Financial Planning Tips
Financial Planning Tip #1 – Educate Yourself before
Investing
Educate yourself about the pros and cons of each
investment that you are considering to make. Do not assume your
financial advisor will discuss the cons in an in-depth basis and
do not take anything for granted.
Financial Planning Tip #2 – Do’s and Don’ts
Do not simply make the same investments inside
your Registered Retirement Savings Plan (RRSP) and outside your
RRSP. Investments are taxable at different rates and some are
more appropriate inside RRSPs and some are just more appropriate
outside of your RRSPs.
Financial Planning Tip #3 – Considering Safe Investments
Don’t lose the money you invest instead consider
investment options which are safe and secure.
Visit Guaranteedinvestments.com
for additional information.
Financial Planning Tip #4
– Pay off your Debts
In most cases, if you have debt, consider paying
it down before you set up an investment plan outside of your Registered
Retirement Savings Plan (RRSPs).
Financial Planning Tip #5 – Better than Mutual
Funds
If you like investing in Mutual Funds then you must
consider the added benefits of investing in Guaranteed Investment Funds.
Visit Guaranteedinvestments.com
Financial Planning Tip #6 – Insurance Based Investments
If you are trying to plan for retirement, and looking
at doing some Estate Planning, consider the benefits of investing
into Insurance Based Investment products as many have benefits
to help reduce probate fees.
Insurance based investment products are available at Guaranteedinvestments.com
Financial Planning Tip #7 – Life Insurance at Low
Costs
If you have a mortgage and have mortgage insurance
on it, consider obtaining a quote for comparable term 10 or term
20 life insurance. In some cases, you can arrange better coverage
for lower costs.
Financial Planning Tip #8 – Be Careful Where you
Invest
If an investment sounds too good to be true – it
generally is. Only invest in speculative investments if you are
prepared to lose the money you invest.
Financial Planning Tip #9 – Choosing a Financial
Planner
If you are looking for a Financial Planner, ensure
that you ask the planner how they are compensated and if they
only sell products from one company.
For Example: If the financial
planner works for a company, and the majority of the investment
products they sell are those of that same company, consider looking
for a more unbiased advisor.
Financial Planning Tip #10 – Save your Hard Earned
Money
Don’t lose the Money you Invest – we know we mentioned
that already, but that is one of the most important things. Only
invest in risky investments with funds that you are prepared to
lose.
Guaranteedinvestments.com
offers individuals with access to Guaranteed Investment Funds,
GICs, Annuities, Insured Annuities, Guaranteed Minimum Withdrawal
Benefit Plans, Guaranteed Lifetime Withdrawal Benefit Plans and
much more.
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