With guidance from our team of professionals, your Wealth Plan will allow you to assess your present situation and make projections in relation to your stated objectives. The plan will allow you to come up with an acceptable compromise whether that means increasing your current level of savings, reducing your income expectations at retirement, or deferring retirement.

There is no cost for our initial consultation or your Wealth Plan. Our first meeting with clients is to get to know one another to decide if our style and services fit your expectations. If so, the next step is to gather the information necessary to start your plan. The Wealth Plan provides you with a roadmap to make decisions today a little easier and provides us with a guideline to make appropriate recommendations for you now and into retirement.

Saving for college or university is likely the last thing on your mind when you welcome a new addition to your family. The challenge is that time moves quickly and without the proper savings strategy, you might find yourself going into debt to cover your children’s post-secondary education.

In Canada, higher education costs have significantly increased over the last few decades. University students pay 40% more in fees and tuition than they did ten years ago. This surge undoubtedly causes additional financial strain for parents.

One of the best ways to relieve this pressure is to start saving as early as you can through a Registered Education Savings Plan (RESP). This tax-preferred savings plan can help you prepare for your kids’ post-secondary education

The government matches 20% of your annual contributions up to $500 per year for each child, with a lifetime maximum of nearly $7,200. 

When the money is withdrawn for post-secondary education costs, the withdrawal is taxed to the student. Generally students have little or no income, potentially making the withdrawal tax-free.

The short answer is yes. When you’re young, especially at the start of a career, you generally have limited savings. The challenge is that you probably have the highest number of dependents and liabilities at this time — parents approaching retirement age, younger siblings who need to be educated, or even ailing grandparents. There may be debts to be repaid or a major upcoming family event, such as a wedding or arrival of a new baby. The ratio between the number of dependents vs. earning members is skewed.

Younger people often have inadequate savings to cover sudden financial emergencies caused by death, disability, or illness. Insurance provides protection for your family’s financial stability. Remember the earlier you invest, the lower your premium and the bigger the benefit. In the event of an unfortunate incident, insurance will protect your family’s future.

Life insurance can also serve as a savings vehicle allowing you to earmark funds for specific needs. This will help you fulfill both planned and unexpected expenses.

The rule of thumb when it comes to life insurance is this: If someone depends on you economically, you need it.

Yes, there is. There’s no single insurance that does it all. At Seven Elements, we specialize in life, critical Illness, and disability insurance. We can also assist with travel insurance and individual health insurance.

It’s important to protect yourself from all forms of financial setback that could jeopardize your future. An unexpected death, disability, or critical illness are difficult enough to bear without the added burden of financial worries.

Tasks like saving and investing sound important, but can be hard to actually do with all the other demands on your time and resources. Starting early will reap dividends both now, as your family grows, and in the future. We will help you find the balance between paying for your needs now and saving for the future.

Buying a home is both exciting and scary. You’re setting down roots and ready for the next chapter in life while taking on the largest debt you’ll possibly ever have to pay.

The financial realities of preparing to buy a home can come with a lot of stress, uncertainty, and questions: Will I qualify for a loan? How much will I qualify for? Do I have enough for a down payment? The list goes on.

We will help you identify how much you can afford to spend on a home while living the lifestyle you desire. We can refer you to a mortgage broker who will inform you about the home buying process and will help you feel comfortable with the investment. Knowledge is the best way to avoid unexpected costs that may turn your dream home purchase into a ordeal.