Buried in Debt - Mahmoud Artil

Financial Plan
Done by Mahmoud Artil
John and Donna
Financial plan for John and Donna

Mahmoud Artil
Table of Contents
Introduction.....................................................................................................2
Objectives and Data........................................................................................5
Financial Planning............................................................................................8
Analysis..........................................................................................................10
Development.................................................................................................11
Retirement Planning......................................................................................14
Risk Management..........................................................................................21
Investment Planning......................................................................................27
Tax Planning...................................................................................................32
Estate Planning..............................................................................................34
Education Planning........................................................................................41
Insurance Planning........................................................................................47
In conclusion..................................................................................................53
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Mahmoud Artil
Introduction:
Dear Mr. & Mrs. Arbid,
Thank you Arbids for choosing Artil Financial Services Inc. As per the
engagement letter we signed on May 19th, 2016, I will work with you to
develop and maintain the confidence you have in me and my firm.
My name is Mahmoud Artil, I am a Certified Financial Planner (CFP), and a
Certified Financial Advisor (CSI). I hold a Bachelor Degree in Finance from the
University of Abu Dhabi, United Arab Emirates. I have been practicing
financial services and focusing on financial planning since 2006. My clients
vary from business owners, employees, professionals, families and retirees.
The aim of getting my services is not only to manage your short-term
expenses; but also to make the most use out of your financial resources by
finding a way to reach your goals and future objectives. Everything with
planning preforms better.
There will be an ongoing periodic meetings to construct and implement the
best plan for your objectives and goals. Through different stages, we will
share the responsibility to get the maximum benefit out of our meetings
which will be scheduled as follow:
Weekly meetings (Early phase): -
COLLECTING
INFORMATION
In
order
to
provide
the
most
appropriate plan, I will appreciate your kind support in providing

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valuable information with regard to your financial objectives and
current financial status; this will include your assets, liabilities, cash
flows, tax reports, pension plans, and insurance coverage.
-
ANALYSIS AND DEVELOPMENT a clear realistic and reasonable

assumptions will take place according to a sophisticated study and
analysis disclosed to the information provided. This analysis will
consider many aspects with regard to your objectives, goals, tax
income, investments returns, inflation, government benefits and life
expectancy.
Monthly meetings (Middle phase): -
STRATEGIES AND PRESENT PLAN - after a consolidated analysis to

your best benefit; I will develop and narrow your options to figure out a
strategy which will include a comprehensive financial plan. This plan
will have many pros and cons to consider after recommendations and
acceptance of both parties.
IMPLEMENT THE PLAN as will be agreed, we will implement the

plan which will guide and have an impact to gain positive results
according to your current situation.
Annual meetings (Final phase): -
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-
MONITOR AND UPDATE while working on the plan, I will be

monitoring and updating if any necessary changes might accrue in
future.
During any phase, I will be available 24/7 to assist and evaluate any specific
decision you might frequently consider or face. In emergencies, I will also be
welling to respond on any inquiry or dilemma needs clarification. I will always
refer you to one of our professional planner when I will be out of reach or in
vacations.
I look forward doing business with you and I hope our services will satisfy
your needs at your best comfort.
Sincerely,
Mahmoud Artil
Client Meeting 1:
In our first meeting; it was a pleasure getting to know you more and your
wife Donna. You showed your concerns about your family debt load and
whole financial situation. I understand that debt volume is increasing
nowadays in the Canadian society due to low interest rates offered and life
style demand; however, this phenomenon should be seriously treated and
managed. We had discussed the importance of the financial health and how
to manage your expenses. We had a brief understanding of each partys
responsibilities and tasks to overcome those obstacles. In order to best
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control your expenses, some of the significant techniques I advised you to
follow; is to priorities your expenses in to two different categories; Nondiscretionary and discretionary. The Non-Discretionary spending will cover
your commitments, contracts and necessities. The other Discretionary group
will cover the not essential expenses. Tracking your discretionary spending is
an effective way to reduce your debt. Moreover, to create a budget which
helps you to control your spending and predict future expenses.
As mentioned earlier I will always advice, evaluate and monitor your profile
as needed in order to stay up to date with any changes might occur. It is
important to understand the concept of financial planning and to gain more
knowledge of how our work will impact your life.
Objectives and Data: Shot-term Objectives (1 to 4 years): -
1. To reduce the huge load of debt without effecting their current lifestyle.
2. Meet their expenditures and manage their spending.
3. Increase
their
insurance
unexpected uncertainties.
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coverage
to
protect
the
family
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Mahmoud Artil
Medium-term Objectives (5 to 9 years): -
1. Pay off the house mortgage within 10 years.

2. Pay off Sara student loan
3. Be able to cover their children higher education.
4. Meet their son Philip future needs
Long-term Objectives (10 years and more): -
1. Retire when John reaches 63 years old and Donna 61 years old.
2. Generate an income of $75,000.00 annually at retirement.
Objectives VS. Time Horizon: Before analyzing my customer capabilities and needs, I set a time frame to achieve
their goals and objectives. This strategy helps to distinguish and priorities their
objectives from date of engagement till death.
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Planning Years
Implementation Years
Monitoring Years
Sara Student Loan 1 4 2
Retirement/Generate Income 2
17
44
Philip future needs 1 3
44
Children University education 1 12.5
Pay-off House Mortgage 3
Reduce Debt/Manage Spending/Meet expenses 1 4

0
16.5
17
10
20
30
40
50
60
70
This Chart illustrates meeting objectives with a time frame of 17 years (63 years old at retirement) and
monitoring till death as expected (90 years old).
Data Collection: Briefly:

John and Donna were both born on January 4 th, John is 46 and Donna is 44
years old. They are married since 6 years, this marriage is the 2 nd for John
and the 1st for Donna. The have two kids Joe 15 years old who has a medical
condition called Autism Spectrum Disorder which they consider as a serious
challenge and Zac whose 5.5 years old with good health. Joe is Johns son
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from the 1st marriage and Zac is both. The couple is in a good health and
their life expectancy is high (90 years). They are well educated, John works
to a private engineering company as a Mechanical Engineer with an annual
salary of $127,000.00; Donna also works in a private small law firm as a
lawyer with an annual salary of $100,000.00, and both salaries are
increasing 2% annually. They are both satisfied with their jobs and not
welling to change.
John had a house before marriage worth $700,000.00 which he considers
now as a matrimonial house. This house is owned jointly by both John and
Donna. Donna had no asset before marriage. John has a full medical
insurance and dental coverage for him and his family and disability
insurance for him-self. John contribute in a Defined Contribution plan for
$700.00 every month matching with his employer. This conservative plan
values $128,000.00 with a 5% cash and 95 fixed income. During the last 10
years, 3% return on investment was noted and expected to continue. John
has a $50,000.00 term life insurance from his work. Both John and Donna has
wills, Johns beneficiaries are his estate. Sara also has full medical insurance
and dental coverage for herself from the company but no more benefits
except vacation and sick days. They are buried with debts, with small
savings.
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Mahmoud Artil
Financial Planning: :
$169,185.00
:
:
$67,800.00
$32,040.00
Total
$99,840.00
Total Debt Payment
$62,350.00
Saving
$16,800.00
Total Out flow
$178,990.00
Total Net Cash Flow

Life Style Expenses
Non-Discretionary
Discretionary
Debt
** John MasterCard
Credit Limit
Amount outstanding
Interest rate
Minimum Payment
Total interest you will pay
Total to pay back
Months to pay off debt:
:
:
:
:
:
:
:
$45,000.00
$43,594.00
19.99%
$1,305.00
$20,627.13
$64,221.13
50
** Joint Visa Credit Card

Credit Limit
Amount outstanding
Interest rate
Minimum Payment
Total to pay back
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:
:
:
:
:
:
:
$10,000.00
$7,225.00
18.50%
$185.00
$3,918.43
$11,143.43
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** Buy now pay later loan (Furniture) $6,850.00 is due in 6 months and if
its not paid they will be charged with 20% interest rate.
** House Mortgage
Mortgage Loan
Amount outstanding
Interest rate
Minimum Payment
Total to pay back
:
:
:
:
:
:
:
$400,000.00
$202,500.00
6.30%
$2,270.00
$71,372.46
$273,872.46
121
** Unsecured line of credit

Amount outstanding
Interest rate
Minimum Payment
Total to pay back
:
:
:
:
:
:
$14,250.00
7%
$85.00
$41,488.04
$55,738.04
656
:
:
:
:
:
:
$24,000.00
7.5%
$480.00
$4,866.47
$28,866.47
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** Sara student loan

Amount outstanding
Interest rate
Minimum Payment
Total to pay back
** RRSP catch up loan

Mortgage Loan
Amount outstanding
Interest rate
Minimum Payment
Total to pay back
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:
:
:
:
:
:
:
$24,000.00
$6,600.00
7%
$300.00
$484.41
$7,084.41
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** Two leased cars BMW 3 series monthly $750.00 and Lexus $750.00
monthly
Analysis:
There are many general strategies to follow which manage your money and
limit your spending. Limiting your cash is one of the techniques widely used
to limit your spending. People usually leave only the necessary cash to cover
their planned expenditures. This doesnt mean to be too strict in yourself;
miscellaneous is real and it should be included in your budget plan. In
addition, using credit widely, its an easy access to your account; however,
you shouldnt miss use it to over buy now and pay late. Its widely
recommended to keep your credit card monthly payment limited to 20% of
your after tax income.
As per your case, I can see a very high equity ratio and we should control
and work out a plan to reduce your debt and pay it off quickly. We will
struggle at the beginning and we might use your savings to pay out high
interest debt. In the recommendation part, I will clearly show you numbers
reflecting how much you will save by paying out your debt from your savings
than the return you are getting right now. This doesnt mean we will not
invest your money or use all your reserves. Investing money is necessary in
every plan, however we should consider many things like taxes, dividends,
capital gain, and interest on the return on investment.
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Paying off debt may also avoid extra unnecessary bank charges. This
includes the risk of bouncing a cheque for insufficient funds, or irregular
signature. You still can manage this be taking the overdraft facility, but you
will be charged based on high daily interest. I am so glad to know that you
have emergency funds account to cover unexpected events and I do
recommend to increase this account balance when possible depending on
what you might consider. I can also note that you withdrew from your RRSP
and you have a balance which u are paying annually.
Development:
There are many suggestions you advised me earlier with regard to the
lifestyle downsizing you are planning to do. In our language, there are three
important categories to evaluate the perception of money.
The value of money to some individuals means security, those people who
save and plan for tomorrow. To others; it means freedom; they spend and live
day by day without thinking of tomorrow. The second is the risk tolerance,
some will hide their money at home or invested in risk-free investments,
while others will invest their savings in balanced risk investment or even
high ones. Finally, is the credit you are willing to take; some people will
expand their investment and business by borrowing money from the financial
institution and others will refuse.
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It is important to understand your own money management process to
achieve your financial objectives. This process should undertake short-term
plans and focus on debt and credit. However, your objectives should be
realistic and clear, as an example, the massive debt you have can slightly
get paid over a sophisticated plan within acceptable time period. We should
also take into consideration the other aspects like saving for your retirement,
creating emergency funds, children education, avoiding late payments and
many others.
Throughout our plan, we should always consider money management and
improve your equity ratio which measures your ability to pay your short-term
obligation and loans when they are due. Even when calculating the
investments returns, we should always look at the borrowing cost and the
rates. This will not only measure your situation, but also it will look after your
financial health and net worth.
After a quick analysis of your current expenditures please find the below
suggested budget to which I literarily eliminated some unnecessary
expenses which you can manage to live without till you clear some of your
debts.
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There are some adjustments with the expenses I made according to your
recommendations, I hope it will satisfy your needs. First, I decreased the
vacation amount you are spending monthly from $500 to $400 a month,
restaurants to half from $750 to $375 and summer camps to be effective
only in summer. However, I also decrease the entertainment expenses to
$350 instead of $500. Finally, since John is working just around you will no
longer need a car and you can depend on your wife till we clear any of the
outstanding loans you have.
By this quick calculation, we made annually $10,184 of extra saving to be
invested for your retirement and future expenses. I hope you would be able
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to challenge yourself and stick to this budget plan in order to meet your
retirement objectives.
Retirement Planning:
Introduction
There are many retirement plans that you would find interesting to invest in
for your retirement. Weather if you want to retire early or you decide to work
longer, the sooner you set a plan, the more likely you will find yourself
prepared financially and mentally for your retirement. As age expectancy is
increasing due to better hygiene and medical care, Canadians are living
longer
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nowadays and having a greater responsibility funding their retirement. I do

recommend to design and build a retirement nest egg to fund your future
expenses. Though we need to work upon a sophisticated plan to meet and
maintain how you are willing to live throughout your retirement.
Before going through the various public or private retirement programs, I
would like to illustrate some factors to identify how much you will need for
your retirement.
You need to set goals Every plan should be useful to help you setting
goals for retirement, that would include your age of retirement, when are you
planning to quit work, and what do you expect your lifestyle to be after
retirement. Yours goals have an impact on what are you spending to form a
foundation of what you need to save. How to set goals is easy when you start
asking yourself questions like how many vacations are you willing to take
each year? When do you think to retire? Are you planning to take a second
career at retirement? How much do you need to save for your kids
education? Where do you think you want to live at retirement? What kind of
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hobbies you are engaged?
Are you planning to carry some debt during
retirement? Those sort of questions will help you set your objectives
according to the time set.
You need to know how much you should save After setting your goals
and understand your objectives; you would be able to figure out how much
money you are required to spare monthly to meet those objectives and live
comfortably at retirement.
Identify your investment opportunities Based on your risk tolerance
and money you can spare our constructed plan will advise you where and
how to invest through many investment choices to meet your goals easily
and efficiently.
Contribute to RRSP and make sure you use any contribution room
The government saving plans allows you to save without taxes and you may
carry forward your unused contributions yearly. This in one of the plans that
you can take an advantage of tax deferral till you withdraw the funds at
retirement. It is strongly recommended to contribute in the unused rooms
and not to skip any.
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RRSP Funds at Age of 71

Withdraw funds
in cash
Purchase a life
annuity
Transfer to RRIP
Save in a Tax-Free Saving Accounts As long as you are fully

contributing to RRSP, make use of TFSA. There are many advantages to save
in such accounts; to illustrate some of the important points, you can
generate a monthly income from your tax free accounts and delay
withdrawing from RRSP at retirement, save in tax as you may expect your
tax margin brackets would be higher when you are forced to take out cash
from TFSA, carry forward unused room to save later if not possible at the
current time, and also reduce your investment income taxes. As per the new
law, you can only save up to $5,500 yearly and this money will be invested
with no tax.
Budget your expenses to save better Every penny adds up. You need
to budget your expenses and cut off unnecessary expenses. Now live on a
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little and save more to have more when you need more. There are many
ways to save and this will be discussed in details later.
Reserve your bonus and incentive Dont spend your bonuses and
incentives; instead save it for your retirement or emergencies. Anything you
earn extra leave it aside and manage to live on your monthly income.
Save for you childrens education I do believe your income is not
enough for all those saving plans; however, after contributing to your RRSP,
save the remaining to your children. The government support your children
to grant education loans and cover their tuition fees but will not support you
to cover your needs at retirement. Yet, you can make their life easier if you
saved for their future.
Monitor and evaluate your investments Always track the market
growth and set a bench mark to track how good your investments are doing
according to the market. Look forward to gain more and take less risk.
Conservative investment strategies might save your money but it might also
ruin your retirement objectives. Usually conservative investments dont grow
fast to generate the monthly income you require at retirement. Dont take a
higher risk than you can tolerate; however, you need to adjust your
objectives to be realistic.
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Retirement age The sooner you start to save the more you save for your
retirement. You need to know when you will retire and at what age you will
quit working.
Public and government benefits There are many benefits you can be
entitled to given by the government, like the Old Age System and Canada
Pension Plan. Those benefits mainly provide you with a partial replacement
of earnings at retirement; however, they are useful in case of disability, and
death. They also support your plan to meet your objectives and save less.
Analysis and Development:

Being realistic, it is not possible as per your goal to retire at age 63 years
and Donna at 61 years since we are looking to generate an income of $
75,000 annually at retirement with this current financial status. However,
since planning for your retirement involved in tradeoffs; we will try to work
on minimizing the period as much as we can depend on your ability to pay
the debt and save for your retirement. The retirement objectives mainly
depend on when you will start saving and investing, at what age you are
going to retire, the risk tolerance you are willing to take in order to
maximize your returns, and finally the income expectation you want to
make at age of retirement.
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As per your objectives and goals which you are looking to match according
to the current resources; I have constructed an efficient proposal to meet
the most objectives and life comfortably at retirement. I will first give you an
overview of your current status and I will also hit your objectives through a
future one which we should update and design to best fit your needs in a
later stage. I will include how much you are expecting at retirement, annual
income index, current saving, and public pension plan income would be
received from the government. I will also draw a path for your savings and
plan for investment with a limited income.
Both of you generate a very decent income which would work out a perfect
plan if we can work to reduce your debt by sticking with our plan of
reduction.
John retirement plan

Meeting future dollar amount of current objective should always consider
the annual inflation and calculate the future value of money. Currently we
are looking to generate an income as per your objective with $75,000. RRSP
would be the best option to save for your retirement. I would strongly
recommend you to contribute in every single room you have which you
carried over the past years. By fully contributing to RRSP you can easily
reach an annual income of $93000 at retirement. Moreover, since you have
lived for more than 40 years in Canada, you would be eligible for the Old
Aging Security. You have no RESP contribution, thus I will use your CPP
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benefits for retirement calculation. As projected, if you need to generate this
much of money annually, you should start saving $1,054 a month to your
retirement plan.
RRSP:
John RRSP contribution to this DC plan
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Sara RRSP contribution to her plan:
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Risk Management:
Risk management and estate planning is a major part of our plan which
helps you to identify the unnecessary risk that you might be able to avoid.
The use of risk management mainly to reduce the severity and probability of
risk. The risk could be controlled by avoiding or reducing it, and it could be
financed by sharing or retention. There are several parts we should
understand like the health and long-term care, death insurance, life and
disability insurance, assets managements, estate planning, reduce the risk
impact, wills, taxes reduction and personal trusts.
Health and Long-term care:
In Canada, the health care and medical matters are covered by each
province to a restricted dollar amount or a number of doctor visit annually.
Those services cover some basic facilities and could be only grated to
residents only. There are many extended health insurances that would be
useful to cover the extra cost that may be in excess of the basic plan
coverage.
Some companies offer such coverage to their employees, however, you can
always purchase an individual plan at your own cost to cover yourself. Longterm care is designed to cover the health care need of the seniors from the
massive cost that could be raised. This coverage may be useful in case of illness or injury.
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This insurance can be only purchased between age 40 to 80 and benefits can be paid if you
had a cognitive impairment or you are not able to perform two of the five daily activities.
Death, life and disability insurance:

In general, insurance policies are multi-task tools that help to diversify the
risk and protect the insured. The risk of death is strongly correlated to the life
expectancy of people average life according to their sex and age. This rate of
mortality is also effected by the place of residence, occupation and socioeconomic class. In Canada, the rates are increasing instantly as the Canadian
population is aging. Death insurance policies protect individuals from this risk
by replacing their income who your family were depending on to maintain
their life standard of living.
To analyze and figure out how much life insurance amount is required at
death, you should estimate how much after-tax income amount is required,
what other sources you have as an income, your marginal tax brackets, how
long do u expect this income to last, include inflation and any investment
return. Definitely, you need to add the burial expenses, mortgage debt on
the family house, and income tax at death.
Life insurance companies are subdivided into two types, mutual life and
stock life. Mutual life companies are owned by policyholders whereas the
stock life has share capital and managed by directors. Regardless of the
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type, the insured has the right and the authority to practice all the rights in
the policy. The beneficiary is the person assigned by the insured to claim and
receive the insurance benefits or face value upon of the death of the insured.
Term-life insurance is a type of life insurance and it provides a protection
against the loss resulting of death during a certain time. The insurer will only
pay the benefits within this period and it usually range between 1 to 20
years. It can be a joint life or last to die policy; both policies cover both
parties live, where the joint life benefits are paid to the survivor; but the last
to die pays upon the last death to a third party.
Disability insurance is a coverage that protects your income in case of
disability or illness. When you become disabled, your chance of losing your
job or income high where your expenses will remain the same. As per the
latest statistics, 1 in every 3 people living in Canada might be face a
disability before the age of 65, and this disability might last from 90 days to
years. Mostly is depends at the occupation and moral hazard. There are
some maximum acceptable losses that can be handled; however, you need
to evaluate the risk to categorize your severity accordingly. These insurance
policies help the insured to eliminate the risk through the coverage against
the financial loss and consequences.
Assets managements
It is very important to manage your income and allocate your assets before
its so critical when you approach retirement. As known, your income from
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your salary savings will no longer meet your standard lifestyle at retirement;
thus you require some other resources to lead up and support you. To
structure an investment portfolio, you require to start planning in early
preretirement years to finance your retirement. Many aspects should be
taken into consideration in terms of cost of living, and projected annual
returns on your investments.
For a financially secured retirement; you should always reassess your needs
and sources the closer you reach to retirement age. Many individuals were
forced to postpone their retirement date due to failure in identifying their
ways of resources or market downturn. At this case, you need to work longer,
adjust your objectives and refinance your retirement. Asset management is
also important after retirement age to manage and control your assets for
safe retirement years. Its also recommended to modify your risk tolerance
and shift your investments to a lower risk one.

John and Donna; your main objective and the most important to assist in
achieving your other goals is to reduce your debt load and improve your
current financial status.
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Interest Rate on Debt

10%
11%
30%
11%
11%
28%
Pay-Later Loan
Visa Credit card
Line of Credit
Angelins Student Loan
RRSP Loan
House Mortgage
The only way out to solve this critical problem is by paying off your
mortgage through refinancing it through the next 10 years. Currently the
market closed mortgages according to my last records with an amortization
of 10 years charge an amount of 2.84% in interest. Thus we will be paying off
the mortgage loan through financing an amount of $102,519 over the 10
coming years at 2.84%. A quick calculation would lead us to a near figure of
$981.59 monthly for the coming 120 months.
Through this process, we will be saving around $1,944.40 monthly to be
invested in other resources to support our plan. This amount was calculated
by deducting the proposed loan monthly payment with the current monthly
payment of $2,926.
However, I would also strongly recommend you to consolidate your total
mortgage into one mortgage loan; not only to control the monthly payments
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but also to decrease the total payment of both loans. Both loans worth
$202,500 and $102,519 to reach a total amount of $305,019. Again, taking
the same figures we used earlier with the above example, this would make a
monthly instalment of $2,920.48 with a 120 instalment to end up with 10
years at interest rate of 2.84%.
Mentioning again of decreasing your monthly expenses, I would also
recommend to get rid of John car lease and use public transportation since
your work is next to where you live. Yet, if you need a car and it might not be
convenient to use Donnas, I would recommend to sell both cars and buy 2
cheaper ones with no more than 5 years loans for a maximum of amount
ranging between $45,000 and $55,000. Again, at current rate 2.84%, the
instalment will be increased to $3,399.22.
The biggest portion of your salary is currently going to debt payment and the
house mortgage with a total installment of $5,196. Now after consolidating
the whole loans into one loan, your will only be paying $3,399 which you will
have an access to extra $1,796 to save and invest for your retirement. I also
would like to mention the car lease which we decided to get rid of that would
also be an extra $1,500. This access will allow you easily to invest an amount
of $2,479 towards your retirement.
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Investment Planning:
1. Improve your Investments
Whether you are choosing active administration utilizing money managers or
inactive administration utilizing Exchange Trade Funds (ETFs), consider both
increasing the profits for a given level of risk tolerance and minimizing your
investment risk for a given level of profit. This will guarantee that you keep
the increases made by your retirement funds however much as could
reasonably be expected. Your system will be vigorously affected by the
administration style and the advantage assignment inclinations you noted
before. In any case, enhancing your speculations is a consistent next stride
in the wake of finishing a Retirement Plan.
2.
Improve your Insurance Needs

Survey your future protection needs as of now and what you anticipate that
them will be in retirement. Break down what protection you will in any case
have entry to after retirement. To the degree that you may have gaps in your
scope now and later, decide the sum required to fill those voids and buy the
essential measures of protection.
3. Improve your Tax Planning
Minimizing your assessment bill in the present and future is dependably a
smart thought to do. Taking a seat with an expert to guarantee you are
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making the most out of all potential duty methodologies is much suggested.
The distinction some essential duty arranging is continually shocking with
respect to the amount it could mean in enhancing your present and expected
way of life.
To start investing, I would strongly recommend you to follow the coming

steps to ensure the flow of your investment:
1. Set particular and reasonable objectives
For instance, rather than saying you need to have enough cash to resign
easily, consider the amount of cash you'll need. Your particular objective
might be to spare $2,789,000 when you're 65.
2. Figure the amount you have to spare every month
In the event that you have to spare $2,789,000 when you're 65, what
amount of will you have to spare every month? Choose if that is a reasonable
sum for you to set aside every month. If not, you may need to conform your
objectives.
3. Pick your venture procedure
In case you're putting something aside for long haul objectives, you may pick
more forceful, higher-hazard ventures. On the off chance that your objectives
are short term, you may pick lower-hazard, traditionalist speculations.
Alternately you might need to take a more adjusted methodology.
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4. Build up a speculation arrangement articulation
Make a speculation arrangement articulation to direct your venture choices.
In the event that you have a consultant, your venture strategy proclamation
will plot the standards you need your counselor to take after for your
portfolio.
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Locating Assets
Domestic Equities; 20%
Domestic Equities
Bonds; 80%
I made a quick analysis over the market and found out the bestselling bond
and growth stock to match your objectives would be:
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Tax Planning:
Every income earner pays the Canadian government and the province which
the taxpayer is living in on the annual income earned. However, as an
individual you must report your complete proceeds to the Canada Revenue
Agency (CRA). The taxes you should depends on your assessable income
either from your salary, dividends, interest, capital gain or business income.
The marginal rate of taxes raises as your assessable pay raises and
surpasses certain sums, called tax brackets. You can reduce your income and
the duties you pay by exploiting derivations and credits.
Tax deduction
Tax Deductions decreases your combined income to touch the base at your
net income for tax purposes. To illustrate some of the tax deduction that
would be useful in your situation youre your RRSP contributions, maybe your
future professional dues, unions and your childcare costs. Additional sources
would be like carrying over capital losses, diminish your net income to touch
base at taxable income the premise for figuring the taxes you owe.
Tax credit
Is much important as tax deductions, it is a particularly made to measure the
funds that is deducted from the measure of taxes you owe the government
yet not from the measure of proceeds you acquire. The measure of the tax
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credit and the tax reserve funds is similar whether you owe $2,000 or
$20,000 in taxes.
Tax credit can be only done through 2 ways:
Non-refundable Tax Credit which is utilized against some taxes which you
might somehow or another owe. To illustrate some important points related
to our plan like essential individual sum, health costs, donations and gifts,
your son disability and the parental figure and care amounts. However, on
the off chance that the aggregate of these credits is more noteworthy than
the taxes you would owe, you won't get or be able to discount the difference
from them.
Refundable Tax Credits are amount which CRA would refund you as tax
credits in case you meet all requirements for it, whether if you have taxes to
pay or not. Yet you still need to claim them by filling a tax return form and
send it to CRA. To illustrate some point like the GST/HST credits, Working
Income Tax Benefit and your children activities fees like summer camp you
pay.

An appropriate Tax arranging ought to be a part of each investor general
money related procedure. The minimization of duty, nonetheless, should not
turn into the sole target nor would it be able to be permitted to overpower
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alternate components of appropriate monetary administration. The financial
specialist must remember that it is the after-assessment salary or return that
is critical. Picking a speculation based exclusively on a low assessment status
does not bode well if the deciding result is a lower after-duty rate of return
than the after-expense rate of return of another speculation that is all the
more vigorously exhausted. While all financial specialists wish to help their
individual taxation rate, the time and exertion spent on duty arranging must
not exceed the prizes harvested. Charge arranging is a continuous procedure
with numerous matters being tended to consistently. The best duty focal
points are normally picked up by arranging early and arranging frequently,
permitting sensible time for the arrangement to work and to deliver the
wanted results.
Estate
Wills
It is stated by the law of all countries, every person has to have a testament
which specifies what they own from money to properties and how they are
going to be scattered after his death. As long as the person has the ability to
be responsible for his decisions; yet he can submit a change to his
testament.
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The only situation where your properties arent distributed as you wanted, is
when you die without making sure there is a valid will. In such a case, the
law has to intervene and submit changes according to specific formulas.
However, everything goes the way you decided it to be without creating any
issues and family conflicts.
Heirs, those who are mentioned in the testament, are considered the ones
who benefit from your resources.
There are two ways to disperse your estate. First, is by specifying to whom
you will to inherit it. Second, after paying off what is needed, the remainder
of what you had will be shared between the heirs.
Other types of gifts can be given by forming a trust in your will, which is
known as a willing trust.
You get to choose who and when you want to give your assets to; this is all a
part of estate planning. This plan can contain other things such as, methods
that makes it easier to manage the financial capacities of the family, indeed,
how to lessen the taxes that should be paid off. Furthermore, there is an
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arrangement that will suggest a pass off your proprietorship stake on the
benefits of your business.
An information package is needed; it includes a copy of the testament, power
of attorney, in addition to other documents. Beside all these requirements
the most important thing you should do is to tell the place of the original
signed copies of all documents. Also you need to mention all your business
and bank accounts including your visa accounts and savings, in addition to
your main belongings such as the houses, lands, and other expensive jewelry
and stuff. Furthermore, you should list whatever assistance your family could
benefit from such as life insurance and retirement income. All these
documents must be put together and copies should be given to the people
who are aware of your wealth such as an executor, a spouse, and mature
kids.
In order to make sure that your wealth and assets are divided the way you
planned them to, you need to discuss your plan with your family and heirs,
after you provide them with all the important documents.
Estate plans are subject to change in some but not all situations that affect
our lives. Such changes include marriage, divorce, child birth or adoption,
death of an executor or heir, changing the country or city you are living in,
any type of financial or business changes that may occur at any time.
It is very important to keep your testament updated so that you make sure
all your assets are divided between heirs the way you wanted them to be.
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Besides, this step will prevent any problems that may be caused after your
death between your family members regarding this concept. If death
occurred without having a testament, the court will intervene and manage
your assets according to some related laws.
Dying without a testament will never be on your side, since what would
happen can be against your wills. For example, it may not be the one whom
you wanted to manage your businesses same as the one who will actually
do. Also the method for which the assets will be divided according to may not
resemble what you wanted; and some of your properties will have to pay
more unexpected taxes and fees. Not having a valid will after death will
require extra costs and timing for the process of managing your assets and
belongings.
According to the law in Ontario, dying without a valid testament in the case
of having a spouse and two kids will end up dividing the estate between
them. Each child will receive one-third of the estate value and the spouse will
receive the rest of this value. This law is applied to all cases where death
occurs without having a testament in hand, so problems between family
members are avoided.
A will must be done in a specific format and has to have some information
related to the person who is doing it. This information includes the name of
the person, home address, and the date the person signed the testament. To
make the will a valid one, a statement should be written at the end of the
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testament stating that this testament is the most recent one and it places
any other previous wills done before. In addition, the executers name should
be present in your will; this person is the one responsible for managing your
estate and is known in Ontario as estate trustee. For your executor to be able
to manage your estate after your death, he should be given your permission
to do that and that must be stated in the will. By that, the executor will be
able to finalize all your remaining payments, debts, taxes, and all the
expenses for the funeral. In your testament, you have to specify what each
of you heirs will receive from your wealth and assets, in addition to stating all
the properties you have from houses to cars, equipment, jewelry, and lands.
Finally, in your will you have to pick a godparent for your children if you have
any, so this person will take care of your kids after your death. By this, the
court will be able to know who has the permission to take care of the kids.
Wills can be either handwritten, known also as holograph, or typewritten. The
requirements for a valid will differs between countries; Ontario imposes the
following requirements for a valid testament: first, for a handwritten will, you
need to handwrite it by yourself with dating and signing it. Witnesses do not
need to be present, but a lawyer has to review the will after you write it to
make sure its written in a way thats easy for anyone to read and
understand it. Second, for a typewritten will, its completely the opposite of a
handwritten will; it should be prepared by a lawyer, also two witnesses have
to be present when you sign the will but they cannot be any of your heirs or
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spouse. A not well observed typewritten will is considered as an invalid will
and the court has to apply estate laws in this case.
In order to consider a will as a valid one, you have to sign it with your full
consciousness for your own sake; because after your death, any family
member that did not benefit from your assets may use this as an issue in
court and convince them that you werent mentally capable of doing and
signing the will. Thats why you have to be very careful when you do your will
and make sure you choose the best conditions avoiding any problems youd
be facing at any time in your life especially mental and physical illness. If you
had no other choice, make sure to ask your doctor to write a report about
your situation so it can be used against any challenges your will would face
later. Also a lawyers report about your situation would be accepted by the
court, as well as drafted will of all your desires after assuring that you are
aware of the distribution of your assets.
A lawyer plays a big role in preparing your will, he is considered as your legal
counselor or advisor who can help to do a valid will accepted by the laws of
the country you are in. During the preparation for your will, the lawyer can
explain to you what you have to do and why you should do so, also he would
make it easy for you to state your desires and needs the way you wanted
them to be. Besides, the lawyers supervision can benefit your heirs later
after your death because he can lessen any fees or taxes that could face
them. This legal counselor is the only person who is aware of the province
laws and his information can help you make a valid will that is easily
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established. In addition to all this, a lawyer can help you decide who is going
to be the godfather or guardian for your kids after your death. As mentioned
previously, the lawyer can prove to the court that you were having no mental
or physical issues when doing the will by writing a report about your
situation.
The executor is the one who is responsible for finalizing any paperwork and
funeral arrangements after your death, in addition to satisfying the desires of
your will. An executor has responsibilities towards the testament after death,
and these tasks are as following: heirs and beneficiaries must be gathered in
a meeting with all responsible parties and the estate settlement process
should be viewed to everyone. Besides, the executor is responsible for
completing all the necessary forms to finalize the process of probating the
testament with court proving that the testament is valid and hes the chosen
executor to do so. Also he has to finish the distribution of the remaining lands
and properties of the deceased in addition to handling any trusts mentioned
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in the will. The next step in this process is to start finding the properties of
the deceased and making fully detailed reports including any insurance
plans, and all the necessary methods must be set up to clean the house and
get it ready for selling if it is necessary to do that. Lastly, it is the executors
duty to cancel the deceaseds driving license and other benefits, to file the
necessary forms for retirement income and life insurance benefits, in
addition to filing the last income tax forms.
The duty of the executer after your death requires lots of work and power to
be able to finalize all the documents and finish the work left. Thats why you
have to provide your executor with the sufficient powers and give him the
permission to do the work so that you make sure everything will go the right
way after your death till the last step.
For instance, to increase the heirs returns, the executor must come up with
conclusions about the funds as well as to keep the assets values from falling.
Indeed, running the estate is under the originators control and distributing
the properties between the heirs. The executor responsibilities need lots of
work and plenty of time and also finalizing the results.
Trusts:
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It is very important to find the best executor to do the right job for you after
your death. Trust worthy is the first to consider in him; someone to depend
on by doing all your work without letting anyone down. It is also easier if you
choose someone that is close to you and your family who knows how you
deal with your financial issues.
Analysis and development:

In order to choose the best qualified executor some tips should be followed.
A professional executor is rather picked than a close friend or family member
as most people do because he would be wiser about estate issues, such as a
lawyer or a faithful firm. But considering both as executors is even a better
choice. In the case of losing your specified person, there should be a back-up
choice to get help from. Your bequest might gain a number of charges
throughout the settlement process as probate fees, and your executor
doesnt have enough to cover the expenses. Regardless of his relationship
with you, the agent is lawfully qualified for a fee. Sometimes when a family
member is involved, they pretend that no fees are charged hiding the fact
that the court will decide. Courts say that the agents are eligible of 5% of the
estates value, in addition to a continuous administration fee of 2/5 of 1% of
the average yearly worth of the wealth.
Bearing in mind the agents fees is an important foundation while discussing
the estate plan. Heirs should know what the charges are since no one knows
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when death visits. In case of excessive work, the agent might ask for extra
charges and the beneficiaries should know it happens.
Education Planning:
First it came to my knowledge that you have two kids who you would like to
raise up and educate at your own expense. We as financial planners do
recommend and support this idea however, your always have to keep in your
mind that the government would also support your kids and give them
student loans.
Before planning you should definitely ask yourself many questions to support
this idea like how am I going to connect between the education plan and my
retirement income at retirement, and how that process should be noted. You
need to set goals and targets to reach those objectives.
Targets:
-
How much will be the cost of education and how numbers would be
fluctuated according to the returns? So education cost and inflation.
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-
Positive income during retirement, proper protection scope including
health
and
property
insurance,
retirement
arrangement,
obligation
administration, and spending on your current and future lifestyle.

-
From 1990 to 2007, the rate of yearly growing in educational cost
expenses has reliably outpaced the rate of expansion. Educational cost

charges over this period have expanded by more than 200%.
What is your status and other thing you should consider before saving for
your children education
-
Priorities (contract + costs)
The costs for food and lodging, books, supplies, and transportation are
as essential as expenses for fundamental charges and educational cost.

-
What assets does your customer have now that he or she could use for
the instruction arrangement?

-
Will the circumstance be distinctive when the tyke enlists over the
span of studies?
-
Is your customer building up an instruction store for a youthful kid or a
secondary school junior?

-
Does the instruction subsidizing arrangement give a two-year or a
fifteen-year fruition date?
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-
Most guardians expect some commitment from their kids as summer
employments or low maintenance work as the year progressed. Your

customer might need to talk about this with his or her kid.
An income summary can recognize many things for expanded salary or
diminished costs. You may go up against extra moneymaking exercises.
To consider costs undergraduate educational cost fess, extra expenses,
habitation charges, supplies and many other things might accrue like
transportation.
Figure the extra sum you might need to support the children
Education goals:
What amount would your customer need to store as a single amount
speculation? What sums would your customer need to add to subsidize the
goal if your customer did month to month or yearly commitments? What rate
of return can your customer get on the ventures? What do you think swelling
will be? Will educational cost charges expand pretty much than swelling? On
the off chance that credits are a piece of the arrangement, recall to assess
the transient and long haul effect of getting on the income and general
budgetary position. Are the reimbursement plans reasonable and proper?
Measure the cumulative expense:
Educational cost and expenses, books and supplies, food and lodging,
transportation, individual expenses, and maybe a PC are the significant
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expenses. Will the kid live at home? Will your customer need to purchase
another auto? Would it bode well to buy a townhouse or investment property
near the college or school the kid will go to?
Figure out the speculation process for the education savings:
What are the most suitable ventures for your customer to use to store
instruction costs? Will your customer utilize an enlisted training reserve
funds arrangement (RESP)? Will your customer exchange ventures or
different resources for the kid? Which of the present speculations will your
customer use? What are the duty ramifications of the decisions?
With a reasonable thought of the monetary objectives in the instruction
arrangement, you are prepared to investigate distinctive reserve funds,
venture, and money related guide systems.

Education for you Children:
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Your children will require hoisted levels of instruction and preparing to
guarantee the most ideal future in a greatly aggressive world, driven by
innovation. Study a post-optional degree is costlier consistently and you
should be set up to accept that spend for your kids.
Issa Education - Starting in 2019
The expense for a post-optional system for Phillip in a school or exchange
school is $7,500 a year*. With a 7% yearly cost list rate, a 2-year system will
be a sum of $19,018.79 in 2019. You should spare the aggregate sum of
$19,018.79 in 3 years on the grounds that Phillip is really 15 years of age.
You should spare $6,339.60 every year/$528.30 month to month to
accomplish Phillip's instruction objective.
Laurie Education Starting 2029
The expense for a University degree for Aaron is $10,000 a year*. With a 7%
yearly cost file rate, a 4-year system will be an aggregate of $106,995.74 in
2029. You should spare the aggregate sum of $106,995.74 in 13 years since
Aaron is really 5 years of age. You should spare $8,230.44 every year/
$685.87 month to month to accomplish Phillip's training objective.
For putting something aside for your Kid's post-optional instruction you could
utilize a Registered Education Savings Plans (RESPs) or an in-trust account,
however for this situation I would prescribe you a RESP.
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A Registered Education Savings Plan, or RESP, is an administration enlisted
investment funds arrange for that will help you to put something aside for
your child's post-auxiliary training. With this Registered Savings Plan, the
national government will add to your investment funds with instruction
awards. Furthermore, your funds will develop charge conceded until they are
pulled back. Additionally, when your children pull back the speculation pay
and gives for instructive purposes, these are exhausted in the understudy's
hands, normally at a lower rate.
Since 2007, lifetime commitment limit for every record is $50,000. RESP
holders additionally get a Canada Education Savings Grant (CESG) of up to
$500 ($1,000 if making up for lost time) every year for every kid less than 18
years old. The greatest lifetime aggregate of CESGs from the central
government is $7,200 (for a most extreme lifetime aggregate of $57,200 in
RESP commitments a CESG per kid).
Activity arrangement for Phillip's instruction:
Keeping in mind the end goal to accomplish Phillips' instruction objective,
you would need to open a RESP with a $460 month to month commitment
($5,520 yearly commitment). This sum would take care of Phillip's training
costs, with an excess of $34 by 2019, when Phillips begins school.
Activity arrangement for Aaron's training:
For Aaron's training objective, you would need to open another RESP with a
$320 month to month commitment ($3,840 yearly commitment for a long
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time). This would be aggregate of $78,859.27 in 2029, however would not
take care of Phillip's instruction costs; with a deficiency of $28,136.47 by the
date Aaron begins School.
Keeping in mind the end goal to accomplish the assessed objective, I would
prescribe you to open a High Interest Tax Free Savings Account also. A TSFA
is a record where you can spare or contribute up to $5,500 a year (for 2016).
Dissimilar to different sorts of investment accounts, you're not exhausted on
the pay you gain. It would be an incredible approach to put something aside
for Aaron instruction objectives. Also, obviously your investment funds
develop tax-exempt.
With a commitment of $200 month to month, $2,400 yearly, and a rate of
return of 0.50%, you would have a sum of $32,243 by the date Aaron begins
school, and you would have spared a sum of $111,102.27; with an excess of
4,106.53 when Aaron begins school.
With a specific end goal to accomplish the expense of your child's
instruction, you would need to spare an aggregate of $980 month to month.
* Today's dollars.
Complete SAVINGS NEEDED TO ACHIEVE RETIREMENT AND KIDS EDUCATION
IS $2,182.30
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New income after unite the new shut home loan is $2,276. In the event that
the month to month reserve funds required for retirement and instruction are
$2,182.30, regardless you will have a positive income of $93.70.
RDSP for the children
John and Donna, I have joined a few papers regarding the RDSP subtle
elements that you've enquired of me. If it's not too much trouble allude to
the papers for subtler elements.
Insurance Planning:
Domain arranging, lessen the danger sway, wills, charges diminishment and
individual trusts
Notwithstanding hazard assurance, protection can assume a critical part in
riches boost. At the point when used appropriately protection can improve
the domain for beneficiaries or philanthropy, give supplemental retirement
wage or go about as an expense effective option venture. Arranging early
will open the way to a more extensive scope of chances.
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We have profound information of the items and ideas accessible and a
system of protection pros to counsel with as required. We bargain just with
quality associations that have the most astounding likelihood of staying
faithful to their obligations. We survey our customers' danger administration
needs and protection open doors and furnish arrangements that incorporate
with their general riches arranging technique. The danger administration
instruments accessible to our customers include:
Life coverage
Handicap Insurance
Basic Illness Insurance
Long haul Care Insurance
Singular Health Plans
Travel Insurance
Analysis and development:

Travel Health Insurance:
As voyaging is one of your pastimes and considering the constraint on the
majority of the commonplace human services protection arranges because of
the truth of every one of them have roofs on the measure of scope; ordinarily
between $ 75 to $ 400 every day, its essential to consider different
alternatives since you would pay the distinction between the expense
charged and the common scope on the off chance that any surprising
circumstance comes up amid your voyaging.
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Some augmented medicinal services arrangements may offer constrained
travel protection for brief periods, we would need to experience your
gathering strategy keeping in mind the end goal to discover the scope that
you have for travel perspective.
In the business sector there are accessible bunches of crisis travel wellbeing
arranges
that we
can investigate,
the
majority
of
them
offer
the
accompanying advantages:
Something truly critical to remember is that every one of this protection

arranges spread therapeutic crises just, not elective administrations.
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The accompanying are a few citations about the amount of will the premium
will be for a man of your profile:
Taking into account a bank insurance citation, the premium for a Multi-trip
arrangement is $ 124.00. Additionally, unique rebates are accessible for
Snowbirds Emergency Travel Insurance arranges if your excursions are over
23 days length.
In light of an Insurance company Quotation, the premium for a Multi-trip
arrangement is between $ 92.00 and $ 294.00
Despite the fact that, you may think those arrangements are costly, they can
be guaranteed on your assessment form as restorative costs that are
qualified for the therapeutic cost charge credit
Long haul Care Insurance
In our last time meeting, you specified that you would like to stay in your
home once you can't deal with yourself. Be that as it may, it's essential to
consider the accompanying components:
Home care consumptions have expanded drastically in the course of
the most recent 25 years.
A expense of in home private nursing consideration can be around of $
100,000 a year, and despite the fact that, administration nursing home cost
less the holding up rundown are amazingly long and their projects have
constraints in the measure of time dispensed to every individual.
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Consequently, we ought to break down the alternative to purchase a
protection that give us a future genuine feelings of serenity.
You thoroughly meet all requirements for this kind of protection, the
safeguarded must be between the ages of 40 and 80 at the time the strategy
is issued.
The advantages are payable in the event of subjective weakness (i.e., the
powerlessness to think, see, reason, or recollect) or if the petitioner can no
more perform unaided two of the five exercises of everyday living (ADLs):
showering, eating, dressing, toileting, or exchanging positions of the body.
A portion of the Standard components and constraints are:
The contract is ensured renewable
The contract is versatile, which give you scope anyplace in Canada and
U.S
The premiums are level and in light of the age of the guaranteed when
it was acquired.
The contract has distinctive disposal periods which can give us the
choice to pay lower premiums on the off chance that we pick a more drawn
out one.
The advantage is not payable if there should arise an occurrence of a
prior condition exist. In any case, you have an incredible wellbeing, which we
don't have to stress over.
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The accompanying connection incorporates a few quotes of premiums that
we ought to consider for our investigation:
It's imperative to say that Premiums for long haul care protection don't
qualify as a qualified restorative cost for the therapeutic cost charge credit.
Be that as it may, the advantage will be tax-exempt.
Basic Care
This sort of protection is intended to give a singular amount money
installment to the guaranteed individual when a serious basic sickness or
condition land as Alzheimer's Disease, Coma, Heart Transplant, Parkinson's
Disease, Liver and Lung Failure, Paralysis, Dementia, Severe Stroke,
Blindness, Deafness, Cancer, Severe Heart Attack et cetera.
This sort of scope is by and large accessible to individuals between ages of
18 and 65 years, however once in a while a few suppliers acknowledge 75
years of age candidates.
Considering your great wellbeing and the insights, there is a low likelihood
for you to create one of those conditions. In any case, we considered
imperative to incorporate it in our examination as a discretionary danger
administration measure.
Home Insurance
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You have a solid wistful worth for your current home which worth $
700,000.00. Having a home protection will give you a money related
insurance against episodes that can make harm it. Likewise, you can get
advantage from any harm or misfortune to your own property and effects.
The security for unplanned harm or damage to others is likewise secured.
We can break down taking into account the accompanying connection the
cost/advantage of adding a Home protection to your Risk Management
arranging bundle.
Proposed Coverage
Emergency Travel Insurance
Long Term Insurance
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conclusion:
As the research has demonstrated, I have discussed so far the key
components for John and Donna that may need to properly implement; as
they are essential in guaranteeing a well maintained and secured retirement.
On another hand, I have also discussed the importance of having a
successful financial plan, such as, uncertainty of social security and pension
benefits, educational planning for your children, unforeseen medical
expenses and many other reasons they might face. Making saving for your
retirement can be considered as a priority for you and your family. The
sooner you start to save money, the more time you will have to grow that
amount of money, which will make you able to stick to your goals.
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Buried in Debt - Mahmoud Artil

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Buried in Debt - Mahmoud Artil

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Financial Plan

Done by Mahmoud Artil

John and Donna

Financial plan for John and Donna

Financial plan for John and Donna

Weekly meetings (Early phase): -

appropriate plan, I will appreciate your kind support in providing

Financial plan for John and Donna

ANALYSIS AND DEVELOPMENT a clear realistic and reasonable

Monthly meetings (Middle phase): -

STRATEGIES AND PRESENT PLAN - after a consolidated analysis to

IMPLEMENT THE PLAN as will be agreed, we will implement the

Annual meetings (Final phase): -

Financial plan for John and Donna

MONITOR AND UPDATE while working on the plan, I will be

Financial plan for John and Donna

Objectives and Data: Shot-term Objectives (1 to 4 years): -

Financial plan for John and Donna

1. Pay off the house mortgage within 10 years.

Financial plan for John and Donna

Sara Student Loan 1 4 2

Philip future needs 1 3

Children University education 1 12.5

Pay-off House Mortgage 3

Reduce Debt/Manage Spending/Meet expenses 1 4

Data Collection: Briefly:

Financial plan for John and Donna

Financial plan for John and Donna

Total Debt Payment

Total Out flow

Total Net Cash Flow

** Joint Visa Credit Card

Financial plan for John and Donna

** Unsecured line of credit

** Sara student loan

** RRSP catch up loan

Financial plan for John and Donna

Financial plan for John and Donna

Financial plan for John and Donna

Financial plan for John and Donna

Financial plan for John and Donna

Financial plan for John and Donna

Financial plan for John and Donna

nowadays and having a greater responsibility funding their retirement. I do

Financial plan for John and Donna

Are you planning to carry some debt during

Financial plan for John and Donna

RRSP Funds at Age of 71

Save in a Tax-Free Saving Accounts As long as you are fully

Financial plan for John and Donna

Financial plan for John and Donna

Analysis and Development:

Financial plan for John and Donna

John retirement plan

Financial plan for John and Donna

Financial plan for John and Donna

Sara RRSP contribution to her plan:

Financial plan for John and Donna

Financial plan for John and Donna

Death, life and disability insurance:

Financial plan for John and Donna

Financial plan for John and Donna

Analysis and Development:

Financial plan for John and Donna