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Financial Library

Maximizing Your Retirement

Bob and Lisa are wondering just how their retirement will turn out. After all that's happened over the past few of years, their RRSP accounts aren't what they used to be. Even in the best of times, the accounts weren't as large as they could have been, at least for all their post-retirement desires.

Avoid Financial Failure: Set Goals

Recent studies have shown that as many as 60% of Canadians will not have saved enough money in order to adequately provide for their retirement. The problem for most people is not that they plan to fail, they simply failed to plan, adequately. And, while many may have been conscientiously saving towards retirement, somewhere along the line they lost sight of their target. Either the target never existed or it was never very clear in their sights. Without a target, they can’t possibly know where or how high to aim. So, is it any wonder that most people won’t hit their target?

What is Insurance?

Insurance surrounds each of us every day: When you get in your car, when you come home to your residence, and while you work. Insurance is always in the background discreetly doing its job. Most of us, however, do not think about it much or realize the very important function that all types of insurance provide. In fact, the role of insurance is so important that it is the focal point of a wise financial strategy.

Risk Transfer:

So what is insurance? Technically, it is the process of “risk transfer”. When someone wants to be protected from a certain risk, they buy an insurance policy to reimburse them in the event the risk occurs.

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