Greg Gingerich
142 Dundas St N1R5P1 Cambridge, ON, Canada

Great advisors focus on the needs of their clients!

How much do I need to retire? We get this question all the time. Some people say $1 Million. Is that enough? Is that too much? The answer is Yes. For some, it is $1 Million. For some, much more and for some, much less. ... It depends on so many things. How long are you going to live? How much income do you need to maintain a comfortable lifestyle? How long will you work? Do you have a company pension? Will you have an inheritance? How much interest do you earn on your investments? Where will you live? All of these things will have a significant impact on how much you’ll need to save to retire comfortably. The best thing you can do is sit down with a Certified Financial Planner and have them do a financial plan for you. Don’t worry. It’s free. All of these questions are touched on. A plan will put your mind at ease. We see it every day!

Start a Continuous Savings Plan! (Aka a forced savings plan or Automatic savings plan). If you eat out one less time per week, you’ll be amazed at how it adds up! Stop reading this now, go to your banking app and book an appointment with an investment advisor to get started. It doesn't cost you anything to go in and ask questions. It is their job to advise you on what to do and how to start saving. ... You'll be glad you did.

Confused about the Tax Free Savings Account (TFSA)? You are not alone. The government introduced this Investment option back in 2009 to anyone who is 18 years old or over and a Canadian resident. ... You are allowed to invest the money in: Savings/cash Bonds/GICs Mutual funds Stocks Any and all interest earned is tax free. That means there is never any tax on this account at all. Depending on how you invest the money, you can earn a little interest or a lot of interest (generally speaking, more risk, more return). You are allowed to put $6000 into this account in 2019 but also catch up on unused room from previous years as well. The maximum lifetime contribution limit in 2019 is $63,500. (As long as you were 18 or older and a Canadian resident since 2009). You can take out of this account and use the money anytime (depending on the product you’ve invested in). You can also put money back in the following year that you’ve taken out! These accounts have many benefits but are still often misunderstood. Let us know if you have more questions!

A house is a good investment! Here is one way to help get one ... https://www.regionofwaterloo.ca//DOCS_ADMIN-2290956-v5-AHO