Adam Schwinghamer
300-203 Stonebridge Blvd S7G 0T3 Saskatoon, SK, Canada

Please join us for a live event on September 17th, where our expert panel will provide a market update and discuss important portfolio strategy insights. Learn more about our speakers and register here. http://ow.ly/ek4a50BaZmp

Do you have life insurance through your bank? Have you recently started a family or bought a house? If the answer is "yes" then it is time to apply and get FOUR FREE MONTHS of life insurance premiums paid by the company on 20 and 30 year term insurance! Protect your family and save some money today!

Hey Everyone, As promised here is some more details on the implications of the new pension program as it relates to teachers in Saskatchewan! Until June 30th 2015 the Defined Benefit (set amount of income for life) Pension Plan was calculated based on years of service and using the average of your BEST FIVE YEARS of income. For any teacher that started teaching prior to to June of 2015. You will be placed in a hybrid pension model where a portion of your pension based on you...r years of service up to June 30, 2015 will use your best five years. For all of your service after June 30th 2015, your benefit is counted based on the average of your Whole Career. What does that mean!? That means that if you started teaching today, your retirement income could be more than $10,000/year less than what it would have been under the old program after a 30 year career. If you are in the middle of your career, the impact on your pension will vary based on your years of service. However, that can still impact you to the tune of thousands of dollars per year in retirement. Are you ready to take that much of a pay reduction in retirement? Have you started a retirement savings plan to offset a smaller pension?

In 2015 the Saskatchewan Teachers' Retirement Plan changed its formula for calculating retirement benefits. While this change did not have a large impact on people close to retirement- what does it mean for new teachers or teachers half way through their career? As a defined benefit plan, it still provides income for life, but is that going to be enough income for you in retirement? Next week I will illustrate a few scenarios on how that might look!

Would your income be harmed by permanent damage to a part of your body? Would you be able to return to your current job? Do you have personal insurance? If you or someone you know would struggle financially because of an injury, it is time to look at disability insurance before you need it!