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DFSIN TORONTO WEST FINANCIAL BLOG

Life Insurance: An Important Decision Made After an Awkward Discussion

Many people most often ask me an apparently simple question: “Why do I need life insurance?” Let’s see if I can answer this question without boring you to death. Sorry, bad life insurance joke. Why do I need life insurance? Put simply, life insurance is meant to replace the income that you contribute to your...
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3 Government Disability Plans That May Not Protect You Like You Think

3 Government Disability Plans That May Not Protect You Like You Think Over the years, many people have told me that they felt income protection – “disability insurance” – wasn’t a priority. They believed that they were already covered by Employment Insurance, by “worker’s compensation” though the Workplace Safety Insurance Board or the Canada Pension...
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Taking Time Critical Thinking

Critical illness insurance may not be what many people believe. There is a misconception that it is a financial benefit covered by our provincial health care plans. This couldn’t be further from the truth; governments do not pay us when/if we become critically ill, we have to manage our own financial affairs. In South Africa,...
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Retirement Planning? Keep calm and carrying on

The primary source of retirement income for the majority of Canadians who are nearing retirement will be personal savings. This is especially important because evidence is showing that government pensions will not be enough. But things haven’t been easy for investors because of the market turbulence of the last several years. It’s for this reason...
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A Cancer Survivor’s Story as Told by His Son

In the summer of 2014 Orlando Ali, Sr. – my father – the managing director of a Desjardins Financial Security Independent Network financial centre got the news that everyone dreads hearing; he had cancer. Now, this wasn’t a huge surprise because Orlando comes from a huge family of nine siblings; and between both his parents,...
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Taking Some Time for Critical Thinking

by Kusum Sen Critical illness insurance may not be what many people believe. There is a misconception that it is a financial benefit covered by our provincial health care plans. This couldn’t be further from the truth; governments do not pay us when/if we become critically ill, we have to manage our own financial affairs. In...
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Estate Planning for the Young at Heart

For many people, the notion of estate planning is not very exciting. But take a closer look at the subject and you’ll see that it’s actually about keeping as much as possible of your wealth for your loved-ones. Whether you’re starting out in a new career, raising a young family, saving for a child’s education...
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Giving Kids a Financial Head-start

It’s estimated that it costs well over $200,000 to raise a child from birth to age 18, not counting post-secondary education. (MoneySense.ca 2015) So when a new child joins a family, parents and grand-parents tend to think about starting an education fund like a Registered Education Savings Plan. While this is a very practical way...
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Helping Your Parents Create a Legacy for You

A key benefit of having a professional financial services advisor is that we are educated and experienced in innovatively solving our clients’ financial challenges. Oftentimes, I’m presented with situations that require all of my skills to find the best solutions for my clients, and recently one such situation presented itself. Over the years, I’ve provided...
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Mortgage Insurace through your Bank? Why you may not be as protected as you think

Mortgage insurance: Are you really protected? There’s nothing more exciting than signing the dotted line on your first mortgage. You’re a proud home owner now, with your ownership deed and a lighter wallet as proof. And if you’re like most Canadians, your home will be at the centre of your family and social life. So...
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