Mr Singh

Wishing my friends and family a happy holiday season!

RESP Registered Education Savings Plan is an ideal way to save for your child’s education. Not only does the money grow tax-free but you also receive governmen...t grant money up to 20% of your contributions. When it comes to RESPs, the sooner you can open an account, the better as there are restrictions associated with the grant money. Give your children or grandchildren the gift of education! See more

The TFSA new contribution limit for 2021 has been officially released. That limit is $6,000, matching the amount set in 2019 and 2020. With this TFSA dollar limit announcement, the total contribution room available in 2021 for someone who has never contributed and has been eligible for the TFSA since its introduction in 2009 is $75,500.

Waiver designed for urgent and unexpected situations. Effective November 18, 2020, should you need to travel while a travel warning is still in place, the waiver will remove the policy exclusion relating to avoid non-essential travel warnings from their policy and provide the following emergency medical benefits for a new diagnosis of COVID-19 while at their destination: Emergency medical coverage for COVID-19 after a positive test result while at destination including em...ergency transport home - Up to $500,000 CAD - Quarantine expenses due to a positive test result or contact tracing while at destination - Up to $150 CAD per person per day - Up to $300 CAD per family per day - Maximum 14 days for accommodation and meals - Available under the following TRIPs plans: - All Inclusive - All Inclusive Canada - Emergency Medical - Youth Premier Available for travellers 74 years of age and under Available for covered trip of 21 days or less $4 per day

Facebook (ticker: FB), Apple (AAPL), Amazon (AMZN) Alphabet (GOOGL), and Microsoft (MSFT)are up about 49% year-to-date on average. In comparison, the S&P 500 is up just under 12% for the year. Before Sept. 2, these five stocks had an average multiple on the next two years of earnings of roughly 35 times, against 12 times for the other 495 stocks on the S&P 500, according to Goldman Sachs data. That was the widest valuation gap between the group and the broader market since 2...000before the tech bubble burst. Lately, investors have taken note of the drastic surge in the five stocks’ valuations. Since September 2, the group is down about 3% on average. Meanwhile, large-cap value stocks, judging by the Vanguard S&P 500 Value ETF (VOOV), have climbed 5.2%. Now, the so-called FAAMG group is trading at roughly 31 times earnings, compared with 20 times for the other 495 stocks.Barron’s See more

To Save for Retirement and Take Advantage of Tax Benefits The registered retirement savings plan (RRSP) is an individual savings plan for your retirement. RRSP Advantages... Contributions to your RRSP help you reduce your taxable income when you file your annual income tax return. The investments in your RRSP generate returns that are tax free. How the RRSP Works All withdrawals from an RRSP are regarded as income and as such are taxable, whether before or after retirement. The maximum annual contribution amount is based on your income. This amount is indicated on your notice of assessment issued by Canada Revenue Agency. The amounts accumulated in your RRSP must be converted to a RRIF the year in which you turn age 71. To learn more, book a appointment today 905 929 2624

Term life insurance Term life insurance covers you for a predetermined length of time, so your loved ones are protected from the economic burden of your financial commitments in the event of your death. It provides a tax-free insurance payment to your heirs. This is the ideal solution if you have young dependent children and a limited budget, or if you have loans to pay off over the next few years, such as a mortgage.... Term life insurance provides simple, affordable coverage. Its fixed duration keeps premiums lower, while providing a high level of protection in the event of death. Premiums remain the same throughout your term, which can range from 10 to 40 years. When the policy expires, you have the option of renewing it or choosing another type of insurance that better suits your new needs.

What is participating life insurance? It’s a form of permanent insurance (providing coverage throughout your life) that allows you to protect your family while benefitting from a number of other advantages. It includes a basic coverage amount with a premium, cash surrender value and death benefit that are fully guaranteed. With this product, you can also receive dividends each year, which can be used to purchase paid-up additional insurance or reduce your annual premium. You ...can even put your dividends into a savings account with interest or receive them in cash, if you prefer. Less well known than term or permanent life insurance (where liquidity is available at the end of a specific term or after your death, for example), participating life insurance has two major advantages: The possibility of making additional deposits to acquire paid-up insurance to accelerate the growth of your death benefit and cash surrender value. Access to liquidity, if needed, through the cash surrender value. Certain conditions may apply. This insurance product therefore offers a great deal of versatility to meet your personal needs and plans for the future. It also offers advantages if: You want to leave a larger estate to your loved ones and, if needed, benefit from liquidity for your retirement. You want to offer your children or grandchildren a solid financial foundation. You are a business owner looking for life insurance coverage that generates growth. How does it work? As mentioned above, with participating life insurance, you have the possibility of receiving dividends each year. With iA Financial Group, you have four options for using your dividends: Purchase paid-up additions (PUA) to favour the growth of your estate by maximizing your death benefit and increasing your total cash surrender value. Reduce your annual premium, without reducing your coverage amount. Receive your annual dividends in cash for immediate access to additional liquidity, if desired. Tax consequences may apply. Deposit your dividends in a savings account generating interest, which is taxed at the end of the year. Tax consequences may apply. Who is participating life insurance for? Participating life insurance is a high-end product. It can be an ideal solution if you are: A parent or grandparent who wants to offer your children or grandchildren a solid, guaranteed financial legacy. It also gives you access to potential long-term growth. A professional with strong income growth and excess liquidity available. It provides access to liquidity through the cash surrender value, which you can use for projects like buying a new house or to supplement your retirement income. A business owner looking for a flexible permanent insurance solution with access to liquidity. It can provide you with financial protection against the loss of a partner or to ensure your firm’s succession. SourceIA Contract today to learn more 905 929 2624, prithviplanet.ca