Tim Dalliday Financial Security Advisor & Investment Representative
225 Charlotte Street K9J 8M6 Peterborough, ON, Canada

Why you need business overhead expense protection The self-employed workforce in Canada has been steadily growing with the emergence of the Gig Economy. In fact, by 2025 it’s predicted that 35% of the Canadian workforce will be contingent, consultant and contract workers. Sometimes also called freelancers, these self-employed individuals may work on one of many short projects at a time for their source of income. This shift to contract and freelance work has posed challenges ...to insurers and workers alike, but Business Overhead Expense insurance (BOE) is the solution self-employed individuals need to protect their business in the event a disability or medical event prevents you from working for an extended period of time. BOE keeps your business running during your disability period by paying operating expenses like salaries, leases, mortgages and utilities so your company and livelihood don’t suffer. It’s stressful enough having to worry about how you’re going to cover personal finances while disabled, and the last thing you should worry about is losing your business as well. With BOE, you can rest assured that when you get better, you can return to your business and pick up right where you left off rather than scramble to rebuild your years of success. If you have employees, this coverage can help ensure your business remains open and operational so they can continue to complete their work and collect a paycheck. As a self-employed small-business owner, this coverage is crucial to maintain your livelihood and that of your employees who depend on your company to support their own families. Business overhead expense coverage is the perfect addition to your customized personal insurance plan to protect not just yourself, but your business, in the event you become unable to work. Contact me today to discuss a personalized Income Replacement strategy that you can afford and gives you peace of mind! 705.559.7538 Be well and stay safe this Christmas season! M C

Not financially related but a good wellness read that may help to give your body a boost as we age. I have been taking collagen the past couple of years and have seen the benefits. We all need self-care and that includes preventative health so we can enjoy our retirement years that we worked so hard for!

TFSA limit to stay the same for 2021. If you have questions about TFSA vs. RRSP let's book a meeting to discuss the pro's and cons of each! 705.559.7538 or the office 705.745.1324 ext 4546.

It still pays to get a post-secondary education. Saving for your children or grandchildren? Contact me to setup an RESP and take advantage of the 20% grant from the federal government!

A heads up that CRA will be taxing the new COVID support programs.

Another great article to read if you are interested in retiring abroad!

Affordable retirement options outside of Canada to consider!

Are you Power of Attorney for a relative or friend? This is an important role and comes with it serious responsibility. Even if your not POA now this is a good article to prompt the conversation with a loved on you may have responsibility for down the road both with finances and medical decision making. We have a great booklet for POA's. Let me know if you would like a free copy.

Thinking of retiring outside of Canada? Panama has a great program for expats called the Pensionado Program. Read more here to learn about Panama.