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Wealth Planning

Having a plan is key in achieving your financial goals. Learn how simple saving and borrowing strategies can help you build your wealth.

Find out how to effectively plan for your retirement and how to reduce your taxes and leave a meaningful legacy.

Value of Advice

When it comes to financial planning, today's investors have an overwhelming number of options to choose from.

Navigating through these options requires financial knowledge and time, but most people have little of both.

This is why an advisor can play an important role.

Borrowing Strategies

Borrowing to invest can be an effective wealth accumulation strategy.

RRSP and investment loans, if used appropriately, can help you build your wealth faster and more effectively.

Find out more about RRSP loans and leveraged loans and how they can become a part of your financial plan.

Saving strategies

Whether you are building your RRSP, your TFSA or other savings, there are some simple strategies you can use to help you accumulate wealth:

Start saving early

Judy invests $3,000 a year from the age of 30 until she retires at 65.

Frank waits until he is 45 to start saving and invests $6,000 a year until he retires at 65. Even though Frank invested $15,000 more, his account is worth $114,407 less than Judy's.

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Source: Empire Life, assumes 6% rate of return
For illustration purposes only, actual rates of return may be higher or lower and are not guaranteed.

Invest regularly

Setting up a monthly investment plan can:

  • help you develop a disciplined approach to investing
  • be easier to manage than larger one-time investments
  • provide the benefits of dollar cost averaging – you buy more units when prices are low and fewer units when prices are high

Stay invested

Missing the best days can affect your returns

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Source: Empire Life and Bloomberg as of October 31, 2011

For illustration purpose only, assumptions based on using S&P/TSX Composite Index closing price for the period of October 31, 1996 to October 31, 2011. Assumes gross dividend reinvested at the beginning of the next day. Missed top performance day is by ranking total return and take out days with top total returns.