Did you know?
If your investments lose 50%, you would need to make a 100% return simply to break even. Perhaps there is enough time for a young person in their 20’s to recover and stay on track, but certainly this is not the case for someone in their 50’s with a shorter time horizon.
Your mortgage life insurance at the bank may not be renewed if your health deteriorates! Should you change lenders, you have to re-qualify for your mortgage insurance, most likely at a higher rate!
Renewal rates for 5-10 year Term Life insurance can increase as much as 300%-400%.
You can create a sizeable Tax-Free Estate for your spouse and children for as little as fifteen to twenty cents on the dollar!
Through an insured annuity concept, you can establish a lifetime income stream for your retirement and still leave a sizeable sum for your children/heirs.
Emergency funds – A contingency fund containing three months to one year’s salary should be part of your foundation. You may consider setting up a line of credit to free up capital. If you do, shop around for the lowest rates!
A provincial family law* exists that may make grown children legally obligated to support their parents.
* (“Ontario Family Law Act – R.S.O. 1990. Every child who is not a minor has an obiligation to provide support, in accordance with need, for his or her parent who has cared for or provided support for the child, to the extent that the child is capable of doing so.”)
Ralph Umansky CFP, President of BestPlan Financial Strategies Inc,
is an independent life insurance broker with access to a full range of products and services. He has achieved the internationally recognized Certified Financial Planner designation, and is a member of the insurance and financial services industry’s elite Million Dollar Round Table organization, Canadian Association of Insurance and Financial Advisors, and Independent Financial Brokers of Canada. Ralph was recently awarded the National Quality Award, for his focused attention on persistency, permanence, stability and quality performance of life insurance services to consumers.
As a futurist, Ralph has written over 15 articles on improving small business. He conducts workplace seminars and is available for individual consultation. He has also been a guest speaker at several conferences and most recently on a radio show dedicated to entrepreneurs. Ralph’s Book is now available: MAXIMIZING YOUR WEALTH, – MINIMIZING YOUR RISK – Protect your life, your family, your business.
With more than 20 years of business-to-business consulting experience, Ralph and his BestPlan team work with lawyers, accountants and other planning professionals to provide you with a holistic approach to financial planning. BestPlan specializes in entrepreneurial strategies to suit the needs of self-employed individuals, business owners, contract workers and their families. The team is equally comfortable dealing with the needs of high income earners as they are with the self-employed, small business start-ups, contract workers and seniors.
Services - What Can BestPlan do for you?
Provide a thorough diagnostic evaluation to identify your needs.
Create flexible financial plans, insurance & investment programs, and retirement plans that are responsive to life changes.
Empower you with strategies to protect your family, keep more of your money and ensure that your financial planning goals are on track.
Offer the best choices of products and/or services appropriate to your situation, from many of the leading Canadian Insurance companies and Financial Service firms.
Demonstrate how you can maximize your wealth, minimize risks.
Develop pro–active, tax–efficient investment strategies based on your risk tolerance and goals, offering you peace of mind.
Refer you to appropriate lawyers, accountants and other professionals.
Protect your life, your family, your business
Get Ralph’s book and learn how to maximize your wealth and minimize your risk:
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BESTPLAN FINANCIAL STRATEGIES INC.
220 Viceroy Road Unit#16