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Category Archives: Retirement Planning

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Monthly Pension

5 Reasons you should keep your monthly pension

Financial Planning, Pension Planning, Retirement PlanningBy Marc SabourinApril 15, 2019

Over the last couple of months, we’ve taken a look at some of the reasons you should withdraw the commuted value from your defined benefit pension plan. (See: Five reasons you should take your pension as a lump sum payout and What happens when you withdraw your pension?)  The best strategy always depends on personal circumstances,…

What happens to pension

What happens when you withdraw your pension?

Estate Planning, Financial Planning, Pension Planning, Retirement Planning, Taxes, VideoBy Marc SabourinMarch 28, 2019

Today we’ll be going over what happens when choosing the lump sum payout option from your defined benefit pension plan. As you’re likely aware, a defined benefit pension plan will pay you a monthly income for life, so why choose the lump sum payout option instead? A few common reasons include: Pension sustainability: Will your…

Winnipeg Financial Planning

Is life insurance an investment or expense?

Farm Planning, Financial Planning, Insurance Strategies, Retirement PlanningBy Colin SabourinMarch 19, 2019

Are you thinking about purchasing life insurance as a succession planning tool, but having trouble wrapping your head around the annual costs? You might be thinking, “I could be using this cash to buy more land, pay off debt, increase my salary, upgrade my equipment, etc.” I get it, insurance isn’t a very exciting topic,…

Girl working Farm

Should I buy life insurance today or tomorrow?

Estate Planning, Farm Planning, Financial Planning, Insurance Strategies, Retirement PlanningBy Colin SabourinFebruary 13, 2019

Life insurance is one tool farmers use to help equalize their estate. Below is a comparison of the different costs of buying your life insurance today rather than waiting until you’re older. The scenario You have two children. One would like to farm; the other one isn’t interested. You want to make things fair, but…

5 Reasons Lump Sum Payout

Five reasons you should take your pension as a lump sum payout

Financial Planning, Pension Planning, Retirement PlanningBy Marc SabourinJanuary 28, 2019

  If you’re planning to leave your employer due to your retirement or a change in career paths, then you may be faced with the decision to either take your pension as a lump sum or as a monthly income. What is a defined benefit plan? A defined benefit plan promises to pay a pre-determined…

How to supercharge your RRSP

How to supercharge your RRSP

Financial Planning, Retirement Planning, Taxes, VideoBy Marc SabourinJanuary 2, 2019

Don Jacobs is three years away from retirement and is looking for a way to supercharge his RRSP. With the 2018 RRSP deadline just around the corner, we help Don maximize his contributions so he can achieve his retirement goal in the next three years. Now that Don’s contribution has been made, how should his…

When should you apply for your CPP?

When should you apply for your CPP?

Canada Pension Plan, Retirement Planning, VideoBy Marc SabourinDecember 17, 2018

When should you be applying for your CPP? This week we take a look at the long-term financial impacts of your decision and what variables you should take into consideration. Looking for more advice? Take a look at our 2 part CPP series which includes An argument for taking CPP later and An argument for taking CPP…

How much do I need to save for retirement

How much do I need to save for retirement?

Financial Planning, Investing, Retirement PlanningBy Marc SabourinDecember 11, 2018

When I first started working in the financial industry over 3,000,000 minutes ago, one of the common rules of thumb was that you needed to save 20% of your income for your retirement. I immediately began to question this advice as it seemed too simple to implement, not to mention an extreme generalization. Imagine if…

Start your succession planning with the basics

Farm Planning, Retirement Planning, TaxesBy Colin SabourinDecember 3, 2018

Don’t wait until you have all the answers before you start working on a succession plan. As farm advisors, we often get questions like “How much does insurance cost for someone like me? What would the tax consequences be if I transferred land to my children? If I sell my land and invest the proceeds,…

Build your retirement portfolio

Build your retirement portfolio like the Winnipeg Jets

Financial Planning, Investing, Retirement PlanningBy Marc SabourinNovember 27, 2018

  Have you ever been to a Jets game and heard the person next to you yell that they could do a better job than the coach? How difficult could it be when you have great players on your team like Wheeler and Schiefele? Like most things, it’s probably a lot tougher than it looks,…

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