top of page
bgImage

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....

Will

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...

Primary Disclaimer

The information contained herein is for Alberta residents only and does not constitute an offer to sell or solicit sales in any other Canadian or Foreign Jurisdictions.

Mutual Funds are available through Global Maxfin Investments Inc. Insurance Products including but not limited to” Segregated funds, HISA, Insurance GIC’s, Life, Disability, and Critical Illness Available through Global Insurance Solutions Inc.

This publication is not an offer to sell or a solicitation of an offer to buy any of the securities. The securities discussed in this publication may not be eligible for sale in some jurisdictions. If you are not a Canadian resident, this report should not have been delivered to you. This publication is not meant to provide legal or account advice. As each situation is different you should consult your own professional advisors for advice based on your specific circumstances.

Dual-Licensing Disclaimer

Global Maxfin Investments Inc. is registered as a Mutual Fund Dealer with the Provincial Securities Commissions and as such our Associates are entitled to sell mutual funds and other approved securities as permitted under our registration. They may also be able to provide other services or products to you through their own business. As a member of the Mutual Fund Dealers Association of Canada ( MFDA) Global Maxfin Investments Inc. is obligated to disclose to you that you may be dealing with companies other than Global Maxfin Investments Inc. When purchasing services or products from your Associate ( remuneration to your Associate may also come from various sources depending on the services or products purchased). For example, your Associate may offer any one or more of the following through a separate business, which would not be the responsibility of Global Maxfin Investments Inc.:

• Deposit Instruments: High Invest Savings Accounts and GICs;

• Financial planning services—including Fee-for service financial planning;

• Estate Planning;

• Tax Planning or Income Tax Preparation;

• Insurance: Life, Accident, Sickness, Disability, General.

Please be sure that you have a clear understanding of which company you are dealing with for each of your services and products. Your Associate would be happy to provide any clarification you require.

No Legal or Financial Advice

The information provided on this site is for information purposes only. Under no circumstances should you regard any information you read or access on this site as financial, accounting, legal, or tax advice. You should consult your financial advisor before acting on any information on this website.

Link Disclaimer

Links to Third Party Website, Derek Schaefer and Global Maxfin Investments Inc. do not make any representation that the information in any linked site is accurate and will not accept any responsibility or liability for any inaccuracies in the information not maintained by them, such as linked sites. Any opinion or advice expressed in a linked site should not be construed as the opinion or advice of Derek Schaefer or Global Maxfin Investments Inc.

By clicking on a third-party link, you will leave this website. Privacy and security policies may differ from those practiced by Derek Schaefer or Global Maxfin Investments Inc.

Mutual Funds

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing.

E-mail Disclaimer Confidentiality

The Internet is not a secure medium and privacy cannot be assured. E-mail is vulnerable to interception and forging. Derek Schaefer and Global Maxfin Investment Inc. cannot ensure the privacy of any information or instructions you send to us or that we send to you over the Internet. Derek Schaefer and Global Maxfin Investment Inc. will not be responsible for any damages you may incur if you communicate confidential information to us over the Internet or if we communicate such information to you at your request.

No Solicitation

Nothing on this website constitutes a solicitation or offer by Derek Schaefer and Global Maxfin Investments Inc. to buy or sell products or services of any kind whatsoever.

Limitation of Liability

Derek Schaefer and Global Maxfin Investment Inc. will not be responsible or liable for any direct, indirect, special, incidental, or consequential damages, or any other damages whatsoever, including, without limitation, lost revenues, lost profits or loss of prospective economic advantage, resulting from the use or misuse of this website, or the information or documents thereof, even if advised of the possibility of such damages or such damages are reasonably foreseeable.

Segregated Funds

Subject to any applicable death and maturity guarantee, and part of the premium or other amount that is allocated to a segregated fund is invested at the risk of the contract holder and may increase or decrease in value according to fluctuations in the market value of the assets in the segregated fund.

License Disclaimer

All products and services recommended through Northern Asset Management are through the appropriate licensing bodies. Derek Schaefer as a multi licensed individual through MFDA and the Alberta Insurance Council presenting mutual fund and insurance related products.

bottom of page