On February 25th, 2011, Rachelle Allen, Financial Consultant, and Adam Plaxton, Consultant, of the Investors Group.
Contact Info.:
Adam Plaxton
416-695-8600
295 The West Mall Suite 700, Etobicoke, ON M9C 4Z4
adam.plaxton@investorsgroup.com
Rachelle Allen
416-860-1668 ext. 227
145 King Street West, Suite 2800, Toronto, ON M5H 1J8
rachelle.allen@investorsgroup.com
What was interesting was hearing that because we are living longer, we need to save money for retirement or we will out-live our money.
Usually, peoples retirement money interest lacks due to lack of plan, taxes, procrastination and investor behavior.
It was interesting to learn about a investing on a regular basis. This will really help you in the long run.
When speaking of education, RSP loans is a good option. If you earn 50,000 and contribute 10,000 then you only claim 40,000 on your tax refund.
We touched base on three types of Insurance:
1. Life Altering Illness:
-Covers 22 illness
-One time tax free lump sum of $50, 000
-Premiums are paid back to you if you don't get sick ($40-$50 a month)
-Highest claims are from 20-30 year old women with breast cancer
2. Mortgage Insurance:
-Protection
3. Term Life Insurance:
-Protection
-Cheaper, same premium, coverage stays the same
-Will receive money
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