- Many people know they should have life insurance but put off getting it because they feel overwhelmed. How much should you get and how do you know which type to buy? A good financial/ insurance advisor’s job is to help you answer those questions. Often people spend more time planning their vacations than they do their financial future despite [...]“I have been saving for just over a year, & I’ve already saved >$14,000. Sindy helped me set up an RRSP & a TFSA. It’s automatically taken out of my account each week, so that I don’t even have to think about it. I’m able to easily access it & make changes to my contributions as needed. Easy peezy! I’m so relieved that I finally started saving [...]After graduating and attaining certification as a naturopath, there are plenty of expenses to be thinking about. You’ll have the costs associated with setting up a new practice, the cost of living, and before you know it, it’s time to start paying off your student debt. On top of that, you know you’re supposed to be saving for retirement. So, [...]At the beginning of the 20th century few Canadians could expect to live past 55. Retirement was not a cause for worry. Today, the situation is different. Now, a woman who retires at age 55 can expect to live, on average, another 30 years and a man, 26 years. All that retirement time has a price attached to it.
Retirement has become more [...]Adam is invincible. He is 31, engaged and practices as a chiropractic doctor. Tiffany, his fiancé, is 30 and a well qualified legal assistant for a major law firm in Vancouver. She is also invincible. Both Adam and Tiffany live life to the fullest. They love to travel, cycle in the summer, hike the Grouse Grind on weekends and ski in Whistler [...]Housing is one of the hottest topics of conversation lately. Housing is not only a necessity of life but also the most single largest investment for majority of Canadians. Experts from various industries; urban planners, real estate developers, government, economists, mortgage brokers, financial planners and others have recently reported on [...]A colleague once told me that as business owners, from a CRA perspective, we are given the keys to a Ferrari and yet we drive it like a compact car! A Health Spending account is one of those powerful tools that are only afforded to business owners. They transform health, dental & vision expenses from an after tax cost to you personally to a [...]
by Sindy Billan -When talking to prospective patients or engaged in consultations you probably spend a lot of time clarifying what you do. People see NDs because they’ve heard good things about the profession, or have a friend who had good results.
Regardless of the positive feedback, there’s still some confusion about what role an ND can play in a patient’s [...]
by Sindy Billan -The top three critical illnesses affecting Canadians today are cancer, heart attack and stroke. How many of your patients, friends or family members do you know who have been affected by one of these dreaded diseases? Cancer seems to initiate a range of emotional reactions, varying from fear, distress and worry to positivity and triumph. There [...]
by Sindy Billan -Life and Health insurers often require medical information and attending physician statements (APS) in order to underwrite insurance applications. As an insurance advisor I have received enquiries from ND’s asking about the role and responsibilities as physicians in regard to the APS and also about the process as an individual applying for [...]
by Sindy Billan -Still unsure about the differences between a Tax-Free Savings Account (TFSA) and a Registered Retirement Savings Plan (RRSP)? According to Alfred Roissl, a Toronto-based managing director with Desjardins Financial Security Independent Network, it’s all about the tax.
First, let’s review the main features of this tax-free registered savings [...]
by Sindy Billan -As the saying goes, only two things in life are certain: Death and taxes. In respect to taxes, there are ways to reduce payments required upon a death in the family. In Canada, the greatest transfer of wealth will occur over the next several decades as the population ages and the estates of the elderly transition to their heirs. The expected [...]
by Sindy Billan -Patients suffering from a severe and prolonged impairment may qualify for a Government of Canada grant program. The Canada Disability Savings Grant (CDSG) is for eligible disabled person 49 years and under. The purpose of the program is to provide financial support and encouragement to assist with retirement savings for someone suffering with [...]
by Sindy Billan -There are a few money saving strategies that are not commonly discussed. I would like to share two real-life examples that I have recently encountered. One is for business owners and the other is for a family. The first involves insurance protection for a business loan and the second, protecting capital in an estate.
First example, business [...]
by Sindy Billan -Planning for retirement starts with the basic principle of setting aside money for the future. The concept is simple, however the practice and practicality of applying it, is not easy. There are numerous statistical data reporting that many Canadians are not contributing to their Registered Retirement Savings Plans (RRSP), nor are they taking [...]
by Sindy Billan -In this new world, where technology is advancing at an unprecedented pace, social media continues to expand. An immediate response to all forms of communication is expected. Managing change is essential to security and prosperity. Effective financial planning, therefore, becomes an integral part of today’s world as it allows us to [...]
by Sindy Billan -In the early years of a business practice, most of us spend the majority of our time learning to survive. Many naturopathic doctors graduate with extensive student loan debt, must absorb the mandatory costs of setting up a practice, and are often in a position where a line of credit is necessary. I believe it’s essential that individuals in [...]