Frequently Asked Questions
Quick answers to common financial planning questions
What is the RRSP contribution deadline?
The RRSP contribution deadline is 60 days after the end of the year, typically March 1st (or February 29th in leap years).
How much life insurance do I need?
A general rule is 10-12 times your annual income, but this varies based on your debts, dependents, and financial goals.
When should I start retirement planning?
The earlier the better! Ideally, start in your 20s or 30s to maximize compound growth, but it's never too late to begin.
What is estate planning?
Estate planning involves preparing for the transfer of your assets after death, including wills, trusts, and tax strategies.
What types of insurance do you recommend?
We typically recommend life insurance, disability insurance, and critical illness insurance based on your individual circumstances and family needs.
How often should I review my financial plan?
We recommend reviewing your financial plan annually or whenever you experience major life changes such as marriage, divorce, birth of a child, or job changes.
What is the difference between RRSP and TFSA?
RRSPs provide tax deductions now but are taxed on withdrawal, while TFSAs use after-tax dollars but grow and are withdrawn tax-free.
Do you charge fees for initial consultations?
We offer complimentary initial consultations to discuss your financial goals and determine how we can best serve your needs.