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Starting Out

It's never too late to start.

Embarking on your financial journey can be tricky, especially for beginners. While tardiness might earn you detention at school, falling behind on bills can lead to far more significant headaches.

Entering adulthood brings new responsibilities like signing contracts, voting, and receiving a flood of credit card offers. With minimum payments often as low as 1% of the total balance, it might feel like stumbling upon a financial oasis.

For many individuals, breaking free from the clutches of credit card debt becomes a lifelong endeavor. While credit cards aren't the sole factor influencing your credit score, they often pose the most significant challenge. Many don't overcome these hurdles until their fifties.

Are you ready to defy this common trajectory?

Rather than succumbing to credit card pitfalls, your money could be actively working for you through a well-thought-out investment plan. Though the future may seem distant in your youth, even a modest monthly contribution, like $50, can blossom into $7,900 in a decade with a 5% annual rate of return. Crunch the numbers with a $500 monthly investment, and you'll find yourself with $79,000. However, delaying by just five years diminishes the total to $35,000. Don't underestimate the cost of procrastination.

Your major financial obligations may include

  • Rental accommodation
  • Purchasing household furnishings and other necessities
  • A car
  • Repaying student loans
  • Income taxes

Your financial priorities may include

  • Getting started on basic budgeting
  • Establishing a relationship with your financial institution
  • Applying for credit cards
  • Saving for a house
  • Contributing to a Registered Retirement Savings Plan (RRSP)
  • Taking out appropriate insurance

Financial Plan

Many people will offer you advice on which investments to buy. But there's more to your financial life than your RRSP. Estate taxes, income taxes, and education funds for your children are just some of the other...

Retirement Plan

For most Canadians, retirement is a major financial goal that requires a considerable financial commitment. 49% of Canadians hope to retire before the age of 60.* Whether you have already established a Retirement Savings Plan or....


A will is a written document, properly signed, which: (1) specifies who is to administer the estate (the executor), (2) specifies what is to happen with the assets and liabilities of the estate, (3) specifies certain other wishes such as...

Life Insurance

Term life insurance is the most basic of life insurance products in that it has no savings component, and thus no cash value. By the name, it is purchased for a 'term.' One of the most common uses of Term Life insurance is as...

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