Insurance | Crawford • Ashwood Financial

While many people are making their New Years Resolutions about health and wellness, consider committing to your financial wellbeing too! Here are a few things to think about when writing down your 2024 goals. Top up your TFSAs or consider making a regular contribution The new maximum limit for 2024 is $7,000, however if you have not maximized your contributions in previous years then you will have more than the annual limit to contribute. If you don’t have the cash available for a larger deposit, you could consider making regular bi-weekly or monthly contributions throughout the calendar year to maximize…

While many people are making their New Years Resolutions about health and wellness, consider committing to your financial wellbeing too! Here are a few things to think about when writing down your 2022 goals. Top up your TFSAs or consider making a regular contribution The new maximum limit for 2022 is $6,000, however if you have not maximized your contributions in previous years then you will have more than the annual limit to contribute. If you don’t have the cash available for a larger deposit, you could consider making regular bi-weekly or monthly contributions throughout the calendar year to maximize…

Today we continue with our Life Events series, and discuss planning tips for dealing with a disability. A disability for you or a close family member creates new challenges for you and your family. Have you ever considered what would happen if you or the main breadwinner in the family was no longer able to work? Would that income stop? Could you survive on only one person’s income? Would this cause issues for the care of your children? You should also consider the impact disability would have on a stay-at-home parent. This is a hugely important role, which may not…

Not many people like to think about death, and certainly not our own disability or demise. As unappealing as it might be to start planning for this inevitability, it has to be done. The Legal Stuff First, get the legal stuff done. There are many documents you may need to consider, and the good news is that it is likely not as complicated or expensive as you might imagine. A Will Everybody needs a will; however studies show less than half of Canadians actually have a will. A will is there to explain what you want done with your assets…

As taxpayers we are all well aware that our government and Canada Revenue Agency are always looking for ways to collect more tax dollars from us. This year, 2015, will be the last year that tax sheltering using Universal Life insurance will be possible. For years, wealthy clients have used these policies to combine their needs for life insurance to pay the inevitable estate taxes that will be due at death, and shelter additional investments from ongoing taxation at the same time. These structures are not just for the wealthy however – they may (or may not) be appropriate for…

Part of our commitment to your financial well-being, is to look at all the aspects of your financial life (and more), and develop a single, comprehensive and strategic plan. If it has been a while since we reviewed your complete purpose, intentions, values, and goals; it’s time to set up a meeting to get on track. Many of our clients have been surprised to learn of all of the different things we can do. Along with managing your investments, we can assist in ensuring you have adequate protection in the event of your death, or if you fall ill or…

You buy house insurance to protect your home, auto insurance to cover your car, and life insurance to ensure your family and loved ones will be financially cared for after you’re gone. But what about protecting your ability to pay all the expenses associated with becoming seriously ill? Unfortunately, most of us know someone who has been affected by cancer, heart attack, or stroke. Having enough money to see you and your family through the hard times is not always easy. Critical illness insurance is a type of protection that can provide you with a lump sum payment if you…

Some experts say that new parents spend $10,000 during their first year in parenthood. You knew having kids wasn’t cheap, but that’s a lot of money on top of your regular living expenses. You would need to come up with $250 a week for nine months to save that amount of money ahead of the baby’s arrival. That’s around $1000 a month! The key is to start early. Start early. If you are planning on starting a family soon, and have a couple of years to build up the resources required, you might need only $96 a week. A Tax…

So you’ve just bought a house! Congratulations. This is an exciting time in your life, and it is important to ensure you protect this big purchase. But what kind of protection do you need? Mortgage insurance is easy, convenient, and covers you for just the right amount. Life insurance offers many options for you to consider. I find many people don’t know the differences between mortgage insurance and term or permanent life insurance. Let me break down some key differences for you. Payout With insurance you get from your bank/mortgage company, the amount of coverage and subsequent payout if/when you…

Category Archives: Insurance

Happy New Year

Happy New Year

Disability

Estate Planning

Estate Tax & Tax Sheltered Savings

Not Just Investments

Critical Illness Insurance

Staying home with baby?

Mortgage Insurance vs. Life Insurance