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MORE into your

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Mortgages through:

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We’re MORE Than Just MORTGAGES! There have been a lot of changes recently when it comes to the Canadian economy. One of the major impacts of this is that credit has tightened. Now more than ever some Canadians are finding it harder to make ends meet let alone qualify for a mortgage or find ways to save for retirement. That is the reason we have opened a Canadian First Financial Centre here at our mortgage office location. According to the Canadian Task Force on Financial Literacy, a large majority of Canadians are underfunded and ill-prepared for retirement. Their research shows that while the majority understand the need to start saving and investing early, a large portion have not even started. At Mortgage Architects we believe that you have come to us for your Mortgage because you trust us and know we are here to help guide you in making the right decisions for your circumstances - for one of the largest purchases you will make in your lifetime. Your financial wellness is our business and that is why we want to ensure your “Mortgage Fits with Your Financial Plan”… and that you are “Planning for Life the Wealthy Way.” Please take a few minutes to review the information contained in this pamphlet...it just scratches the surface of how, by working together, we can put the MORE into Your Mortgage! We are sure that once you have, you will want MORE details, and we are here to answer all of your questions.

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MORE Ways to Free Up

Some Disposable Income! By working together, your Mortgage Broker and Canadian First Financial Centres Financial Advisor can make sure you are “Planning for Life the Wealthy Way” and ensure that your Mortgage fits with your overall financial plan. According to the Canadian Government Task Force on Financial Literacy many Canadians are not aware of what their retirement needs are and if they are, how much they will need to save to support their current life style once they do retire. In addition, many Canadians are struggling with how to find the cash to invest for retirement and ensure they are comfortable and secure in their golden years. Working in tandem, your Mortgage Broker and CFFC Financial Advisor can investigate possible ways to structure your mortgage to free up some disposable income you didn’t previously have… so you can start to invest for your future! Your mortgage is a very powerful tool that can be used in several ways to accommodate your different financial and life planning needs. By adjusting the terms and features of your mortgage, you may be able to reduce your monthly mortgage payment amount and use the cash difference to concurrently fund your investment savings or other financial/life planning needs/objectives. Your Canadian First Financial Centres Advisor, working in partnership with your mortgage professional, can help you interpret the results of a “Make Your Mortgage Fit Analysis” and determine if making your mortgage “fit” with your financial plan is a suitable strategy for you. Need MORE answers on “How to Make Your Mortgage Fit”?

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MORE Ways to Save Tax Free!

The Tax Free Savings Account (TFSA) is a savings plan registered with the Canada Revenue Agency available to all Canadians who are at least 18 years of age and have a Social Insurance Number. Initiated January 2, 2009, the TFSA offers a way for Canadians to save their money in a tax sheltered plan. The TFSA allows you to save money that you need for retirement, major purchases, education, vacations or emergencies without restrictions on when you have access to your funds. What are the Benefits of a TFSA? 1.

TFSAs are Tax-Sheltered

2.

You have the Freedom to Withdraw Funds at Anytime

3.

Contribution Limits can be Carried Over

4.

You can Keep Saving Beyond Age 71

5.

There is No Tax Upon Transfer due to Spousal Death

6.

A TFSA Makes a Great Companion to the RRSP by Providing Additional Contribution Room

7.

A TFSA Offers a Wide Range of Investment Options

Want MORE details on TFSAs?

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MORE Ways to Invest in Your Financial Future!

Saving for retirement is one financial goal that the majority of Canadians share. Whether you are just starting to think about a retirement savings plan or already have one in place, you likely have many questions. Where do I start? How much do I save? How do I know which investments are right for me? What other factors do I need to consider? Your Canadian First Financial Centres Advisor will work through these questions with you – helping you identify, quantify and prioritize your personal and financial goals in the process of defining the right financial plan to best suit your life plan. Starting to save now, even in small amounts, can lead to significant accumulations over time. Your Canadian First Financial Centres Advisor will help you choose the investments that are right for your financial situation, your goals, and your comfort level. Want MORE answers about how to Plan for Your Financial Future?

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MORE Ways to Save For Your Child’s Education! Saving for your children’s education early on can save you, and your children, the burden of paying off the debt of an education loan years after they have graduated. Opening a Registered Education Savings Plan (RESP) not only helps you put money aside for your child’s education, it also has the opportunity to grow, and to take advantage of the Canada Education Savings Grant (CESG). Here are some reasons why you should consider an RESP for your child: 1.

You can receive up to $500 annually per beneficiary through the CESG and other government incentives

2.

You can contribute up to $50,000 per child to an RESP

3.

Your RESP can be invested in a wide range of GICs and mutual funds that can help your money grow faster than in a regular savings account

4.

There are no account fees

5.

Your contributions grow tax-deferred

6.

When grants and earnings in the RESP are withdrawn to pay for your child’s education, they are taxed at your child’s tax rate, which is typically very low.

7.

A single RESP can be used for one beneficiary or multiple through the Family Beneficiary Plan

Need MORE answers on RESP’s?

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MORE Ways to Protect Your Family!

Are you aware that there is more than one option when you are choosing to purchase mortgage protection? If not, you aren’t alone. Many people believe that their lending institution is the only source for mortgage protection. The fact is that they are not. A better option may exist based on your personal needs and situation that covers all of your insurance needs - not your bank’s! Having the right insurance protection in place involves more than just covering the mortgage. Know your options before making a decision. In the event of you or your partner’s passing, critical illness or disability, would you, your partner, your dependents or the guardians of your children be able to: 1. 2. 3. 4. 5. 6.

Pay off the existing mortgage debt or maintain payments without incurring financial hardship? Cover off on short term living expenses in the event of an emergency, accident, sickness, disability or illness? Maintain care arrangements for dependents for the duration needed? Fund money needed for education or retraining? Fund the cost of final expenses and/or pay off other current expenses like credit cards? Replace your and/or your partner’s income for the duration needed to maintain a standard of living?

Most group plans only provide coverage for a year or two of income- will that be enough? You may be surprised at how affordable 20 years of income replacement can be! Getting proper coverage in place to fully protect you, your family and your standard of living may be less expensive than you think… All Mortgage Professionals are now required to present insurance to you as part of the closing process. That is why we have a licensed Insurance Advisor on site at the Canadian First Financial Centres Branch to help guide you through the process of understanding your real insurance coverage needs, and ensure that you and your family are protected. Have MORE questions on life and living benefits insurance protection?

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Financial Insurance


MORE Ways to Save Tax Free!

MORE Ways You Could Pay off Your Mortgage Faster!

MORE Ways to Invest in Your Financial Future!

MORE Ways to Protect Your Family!

MORE Ways to Save For Your Child’s Education!

MORE Ways to Free Up Some Disposable Income!


Need MORE answers?

Just Ask Us! Mortgages through:

Peter Majthenyi, Mortgage Planner, AMP Mortgage Architects, Lic.# M08003768 1026 The Queensway, Toronto, ON, M8Z 1P7 Tel: (416) 236-9300 ext.11, Fax: (416) 236-1530 peter@mymortgageplanner.ca www.mymortgageplanner.ca

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Scott Cordier, CFP速 Canadian First Financial Centres Limited 1028 The Queensway, Toronto, ON, M8Z 0A7 T: (416) 686-5387 ext. 21, Fax: (416) 236-0462 scordier@canadianfirst.com www.canadianfirst.com


Legal Stuff The comments included in this publication are not intended to be used for taxation purposes or a definitive analysis of Canada Revenue Agency rules and regulations. These such comments are general in nature and professional advice regarding an individual’s particular financial position should be obtained in respect to individual circumstances. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, values change frequently and past performance may not be repeated.

Toronto (Queensway)  

There have been a lot of changes recently when it comes to the Canadian economy. One of the major impacts of this is that credit has tighten...

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