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Starting Out

If you are just starting out, it’s easy to get off on the wrong foot. Being late for school will get you a detention, but being late for a bill will give you a much bigger headache.

Reaching adulthood means a lot of things: being able to sign contracts, voting, and getting tons of credit card offers in the mail. With minimum payments being as low as 1% of the total balance, it can seem like you have found the land of milk and honey once and for all.

For many people, it takes them a lifetime to escape the trappings of credit card debt. Of course, credit cards are not the only thing that determine your credit score, but they are usually the largest pitfall for most people. For people who struggle with credit card debt, most of them don't get past those hurdles until they reach their fifties.

Will you buck the trend?

Instead of getting taken by credit card companies, your money can be working for you with an investment plan. When you are young, the future can seem far away, but a few dollars can make a bigger difference than you realize. Just $50 per month can become $7,900 in 10 years with a modest 5% annual rate of return. If you run the numbers again with a $500 per month contribution, you get $79,000. However, if you put it off for 5 years, you are only left with $35,000. That’s the price of procrastination.

Financial Plan

Many people will offer you advice on which investments to buy. But there's more to your financial life than your RRSP. Estate taxes, income taxes and education funds for your children are just some of the other...

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Life Insurance

Term life insurance is the most basic of life insurance products in that it has no savings component, and thus no cash value. By the name, it is purchased for a 'term.' One of the most common uses of Term Life insurance is as...

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Disability Insurance

Everyone who enjoys good health hopes it will last for a lifetime. But it doesn't always turn out that way. Sometimes life throws a curve. Injuries can happen. A disability illness could dramatically change your life...

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Critical Illness Insurance

A critical illness can happen to anyone. And it does happen to many. Canadians are more likely to experience a critical illness than they are to die before the age of 75. For most people, the diagnosis is just the...

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Tax Free Savings Account

The TFSA is a registered savings account that allows taxpayers to earn investment income tax-free inside the account. Contributions to the account are not deductible for tax purposes, and withdrawals of...

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Retirement Planning

For most Canadians, retirement is a major financial goal that requires considerable financial commitment. 49% of Canadians hope to retire before the age of 60.* Whether you have already established a Retirement Savings Plan or....

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Will

A will is a written document, properly signed, which: (1) specifies who is to administer the estate (the executor), (2) specifies what is to happen with the assets and liabilities of the estate, (3) specifies certain other wishes such as...

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This publication and website are intended for Ontario residents only and the information contained is subject to change without notice. Mutual Funds are offered and regulated through Global Maxfin Investments Inc. (GMII). Insurance products (including Segregated Funds) and Income Tax Preparation is provided under the name of Ausim Mobeen. GMII does not supervise these activities and will not be accountable, responsible or liable for such activities. This publication contains opinions of the writer and may not reflect opinions of GMII. The information contained herein was obtained from sources believed to reliable, but no representation, or warranty, express or implied, is made by the writer or GMII or any other person as to its accuracy, completeness or correctness. This publication is not an offer to sell or a solicitation of an offer to buy any of the securities. The securities discussed in this publication may not be eligible for sale in some jurisdictions. If you are not a Canadian resident, this report should not have been delivered to you. This publication is not meant to provide legal or account advice. As each situation is different you should consult your own professional advisors for advice based on your specific circumstances.