​What if I told you that you're missing out on receiving money for your child's education? You'd be asking how to get that money, right? Read on to find out what the Canada Learning Bond is and how you can receive it. 


What is the Canada Learning Bond?
The CLB is money that the Canadian government adds to a Registered Education Savings Plan (RESP). This money helps pay some of the costs of a child's full or part-time education after high school, including apprenticeship programs, CEGEPs, trade schools, college and universities. Better yet, you don't have to make any personal contributions to an RESP to receive it! 

The first year you receive the CLB, you'll be given $500. Every year after that until the child is 15, you'll receive $100 to a total of $2000. 

Who is eligible for the CLB?
The CLB is for lower-income families to assist in post-secondary educational costs. To be eligible, the child has to be;

• born after January 1st 2004.
• a resident of Canada 
• have a valid Social Insurance Number
• be named in an RESP

Depending on your income and how many children you have will determine your full qualifications to receive the Canada Learning Bond. 

Why should I apply? 
It's money for your child's future that isn't coming out of your pocket. In this economy, every little bit helps and you might as well make use of it. Statistics Canada reports that 8 out of 10 people who qualify to receive the CLB never apply. 

At Smart Choice Life, we believe we have a responsibility to help all people with their financial security. Assisting young families in applying for CLB is a great way to help people get the money they deserve. 

Contact us today for more information about the CLB and for assistance in applying.

Don't fall victim to the hidden weaknesses in our traditional products. ‘Real money' is the money we have available to spend today. Not a balance in an investment account. Until you turn it into cash you can’t spend it. The number representing your investment account balance can change quickly!

It's either cash in your pocket or it's in a bank account with an access card. You can spend, use or lose real cash. Everything other than actual cash is money in reserve for future use. Some examples would be property that needs to be sold, mutual funds, stocks, bonds, GICs, business equity, savings accounts, etc."

Now that we understand that what I call real money is basically cash in hand we can look at an expensive psychological pitfall some people experience. This hidden weakness is especially obvious when considering a GMWB.

GMWB has two balances one balance is the traditional balance like the balance found in mutual funds. The other balance increased every year by A guaranteed minimum increase. This balance is the one which is used to calculate an annual withdrawal at retirement. It is guaranteed annual for a lifetime.

The lump sum balance works like a mutual fund which fluctuates in value. The GMWB increased every year.

When markets have dropped and you withdraw a retirement income it is much higher than if it was in a mutual fund. It is guaranteed to pay you real cash every year of his life based on that higher amount.

Now here is the punch line. Remember markets had dropped before you retired, yes the higher withdrawal coming out of that smaller balance, like a mutual fund, can totally run out but not with a GMWB. The GMWB is guaranteed to pay a guaranteed income for as long as you live! No worries!

What can you do? One should make sure they do not get stuck in traditional ways of thinking. Many new products do fall outside the traditional box. Like GMWB some are only sold by licensed life insurance brokers..
"
There is a principle which is a bar against all information, which is proof against all arguments, and which cannot fail to keep a man in everlasting ignorance - that principle is contempt prior to investigation." - Herbert Spencer

Visit http://www.SmartChoiceLife.com  Call (506) 454-3346 1-800-471-0411 or email Gordon@SmartChoiceLife.com

Gordon has over 30 years experience in banking and financial services industry. He shares his awareness of behind the scenes practices that work to the advantage of banks, investment houses, and big business in general but seldom benefit consumers. He also shares insights into how to improve your financial health and wealth without worry and stress.

Check out Gordon’s book www.MoneSmartsforTeens.com Help youth appreciate the value of money and avoid common financial mistakes. They’ll thank you.

Visit http://www.SmartChoiceLife.com  Call (506) 454-3346 1-800-471-0411 or email Gordon@SmartChoiceLife.com

We have seen plenty of examples: 2000 to 2002 were bad years after a bull run in the late 1990’s. The markets eventually recovered and bull markets pushed it to new highs, before it dropped by 50% in 2008 and took about 10 years before the TSX came back to 2008 highs. Now the bulls are on a run again!

What if many market gurus are right and we are headed to a world recession?  What happens to your investment opportunity then?

Fund managers won’t tell when you they expect their funds to drop. How long would they hold on to their jobs if they did that? Many advisers get their information from the spins presented by fund companies and managers, so they may not tell you either.

Politicians won’t tell you either, remember the prime minister and his finance minister in early 2008 telling us that even though the US banks were in trouble our Canadian banks were in good shape? Of course they did, it was a way of preventing people from getting scared and starting a run on our banks. But Canadian stock markets dropped by 50%.

Depending on your age there are several ways you can avoid these losses and actually make money on such events.

Market Timing; changing investments in reaction to monthly or weekly news, is a way most people get wrong. So advisers tend to tell you what their fund managers advise, stay invested.

Systemic Market Failures is another thing, conditions can actually give you a good indication of these major market recessions, and there are preventative measures you can take.

Again which measure is best suited for you depends on your individual situation and age.

Lord Alfred Daffodils sold for $6,000 a bulb in Holland several hundred years ago. The values were created because the wealthy royalty would pay for this unique new variety of flowers. Growers began breeding them and soon the price dropped, so that today their value is only a dollar or so.  Markets are cyclical.

Contact us for an assessment of your situation, we will help.
Gordon@SmartChoiceLife.com  www.SmartChoiceLife.com  phone  506 454-3346 or 1-800-471-0411
 

Is Life insurance as an expense or an investment? Some people never examine the details to learn about the investment opportunities that Life Insurance offers. It’s not just a way to cover unavoidable and unplanned painful expenses, but can also make you money. Meet with a broker to see how you can come out ahead financially without dying.  


Are You Single?
Many single people don’t need it.  Some do if they don’t want to leave behind their debts, or some singles are supporting aging parents who need their care. That expense needs to be protected.

Buying life insurance when young is less costly. The older you get the more likely you could be refused life insurance due to health issues.


Married?
Planning to have a family? Be smart buy coverage before pregnancy, besides where would your spouse be if you died tomorrow? Bills, loans, rent, mortgage, credit cards, car loans keep on coming. Tax free life insurance death benefits can go a long way to solving financial problems for whoever is left behind.


Married with Kids?
Now your concerns include providing a daily living until the kids leave home, education costs, and provide for your spouse’s retirement.


Small Business owner?
Will you succeed or fail due to inadequate planning? There are five ways out of business, bankruptcy, poor health, death, succession or sell it. Our life insurance brokers can help you position yourself for any possibility.
 

Single Parent?
Life insurance has to provide all needed funds without the help of a spouse. You may need to structure your insurance with layers; short term, midterm, and longer term to make it affordable. Our brokers can answer any questions for you.
​

Stay at Home Parent?
Don‘t overlook the replacement cost. To hire someone to cover the contributions of a stay at home partner can be expensive, plus if they aren’t there you may have to take more time off work. Life insurance can ease that financial stress.


Retired?
Depending on how big and how complicated your estate is, your heirs may have to pay up to 45% in taxes.

If they have to sell assets they may only get a low bargain price, however if they pay taxes cash with Tax Free Life Insurance death Benefit they won’t be forced to sell assets until later when they have time to prepare.

​Your spouse may need to replace any pension income that will die when you die.


Investments?
Many people use life insurance as an investment portfolio.  There are many tax benefits and guarantees when used properly place life insurance very favourably against other investments. Smart Choice Life brokers can show you the advantages if you qualify. Believe it or not, a young person would be well advised to check this out also.


Smart Choice Life has brokers ready to answer your questions.

Gordon@SmartChoiceLife.com    www.SmartChoiceLife.com  Ph (506) 454-3346