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For many early 20-somethings that are freshly graduated and are now facing credit card and loan bills, the last thing on their mind is investments. Your new job can just about cover rent and groceries but the limitless pocket money of your youth is now a distant memory. Granted, saving for retirement may be a far fetched idea with the mountain of immediate payments piling up; however this does not mean that young Canadians should ditch investing entirely!

If you’re approaching retirement age, you may be considering a move to a more retirement-friendly state, particularly if your current state of residence imposes numerous taxes on social security, pensions, and other retirement income. While making the decision to relocate is not something that can be done lightly, there are a variety of options available nationwide that may allow you to retain more of your retirement income.

For years it was assumed that tax planning was reserved for the wealthy. While wealthy individuals will see the most benefit from tax planning, with big changes looming for the 2018 tax year, even middle-income earners can reap the benefits of tax planning.  

Accepting one’s own mortality is a tough pill to swallow. As such, estate planning can be a morbid topic that lingers in the background of our lives ominously. Nobody wants to plan for their own death! However, the repercussions your family will face are dire if you delay preparing for the unforeseen curveballs that life throws our way.

Health insurance used to be a fairly simple process. But today, whether obtaining health insurance privately or through an employer, we’re being offered a variety of insurance plans with varying benefit levels, making the choice more difficult.

Before you enroll in another health insurance plan, here are some common terms you need to know – and understand:

There were 43 million renters in the U.S. in 2017, the highest number of renters in the last 50 years.  Yet according to the Insurance Information Institute, only 37 percent of those currently renting have renters insurance, leaving 27.1 million renters without protection should catastrophe strike.

It’s important for renters to understand that while their landlord’s homeowner’s policy would cover structural damages to an apartment or home, it will not protect the renter’s personal belongings.

The rising popularity of robo-advisors has some in the industry wondering whether this is the beginning of the end for financial advisors.

In reality, robo-advisors have been able to do something that traditional financial advisors have not; get those with limited resources to begin creating a portfolio of investments.

Started in 1996, 529 plans provide tax incentives for those saving for post-secondary education. The plan allows funds saved to be used at any eligible education institution, which typically includes colleges, universities, vocational schools or any post-secondary educational institute that is currently eligible to participate in U.S. Department of Education student aid programs. Operating much like at 401(k) or IRA, funds deposited into a 529 plan are not taxed, either by the federal government or the state in which the participant resides.

The Trump administration’s new tax reform bill was signed into law in December of 2017, representing the first major tax change in over 30 years. The changes are significant and are likely to affect nearly everyone in some measure; some positively, while others may find themselves with a higher tax bill in 2018. All of the changes represented in the new tax bill will be in effect through 2025.

The Human Resources representative asked you to review a stack of paperwork before your new employee benefit orientation meeting. Understanding that this is your first of what research indicates will be about twelve jobs, you figure now would be a good time to learn what you can about Group Life Insurance.