Why choose segregated funds over mutual funds?
- Segregated funds provide capital protection at maturity.
- Protection against creditors in case of bankruptcy or lawsuits.
- Protection on gains using resets.
- Simplified tax returns for investments.
- Quick estate settlement bypasses probate saves time and money. (probate savings varies by province)
When should you start saving for retirement?
- Whether you are new to your job or working for years, it is essential to start investing as early as possible with an amount that respects your budget and current financial conditions.
- Case study of A and B, both 65-year-old workers who managed their retirement savings differently over time. Between the 20s to 30s, A decided to save $20 per pay from the 20th year. B started saving at age 30, investing $100 per pay. A also decided to invest $100 per day in the 30th year. A saved $2,77,000 where B saved $ 2,40,000. B got 37,000 less than A.
- A will receive $3,000 more per year till 85 years because of the early investment strategy per pay. This difference is because “A” started saving early for retirement and optimized time. Ask us about the rule of 72.
(Example has assumptions. Contact us to get specific answers to your questions)
