LCM Financial Planning Associates

Are you covered? Your life insurance coverage may have crossed your mind over the last few weeks with the global pandemic upon us. Did you know that life insurance rates, much like bank rates, change over time? With the recent change in bond market yields, an increase in insurance premiums is expected to take place soon. For a short period of time insurance companies have made it easier to qualify for insurance. If you aren’t covered yet or under-insured, or simply up for renewal in the next year or two and would like to have a free quote run, we survey all the insurance companies to find you the best price. Call LCM Financial Planning today. https://www.sunlife.ca//When+should+you+buy+life+insurance

Having the entire family at home, juggling work, school and much more isn't easy. To help with the financial side of things the Ontario government is providing the opportunity to apply for $200 for kids under 12 years old to help ease the burden Covid-19 has caused. Here's where you apply: https://www.ontario.ca/page/get-support-families

The markets have been going wild this week, is your financial situation ok? Will you weather this new storm? Take a look at how Warren Buffet feels about the ever changing investing landscape. https://www.lcmplanning.com/e-newsl//2020-03/article-1.htm

How much debt can you afford? How much will you be able to afford if rates go up 1-2%? https://www.lcmplanning.com/e-newsl//2018-10/article-1.htm

Have you ever been asked by your credit card company if you'd like to add balance protection insurance to your account? Have you been paying for a plan like this without really understanding what it involves? This article describes the limitations of credit balance protection. You may find that obtaining conventional Critical Illness, Disability or Life insurance, is not only more cost effective, but far superior as well. At LCM Financial Planning we offer a broad spectrum of insurance solutions. https://www.lcmplanning.com/e-newsl//2018-12/article-2.htm

Our goal at LCM Financial Planning is to see our clients achieve financial success. We offer a broad range of services to help get you there. What are you currently doing to achieve your own financial goals? Perhaps some of these tips could help you on your path. https://www.lcmplanning.com/e-newsl//2019-02/article-2.htm

Where do you dream of retiring to? Have you visualized being a Snowbird, an East Coaster or staying close to home? There are many things to consider before you take the big plunge of moving in retirement, this article addresses some common mistakes to avoid. https://www.lcmplanning.com/e-newsl//2019-03/article-3.htm

It’s tax time! What is a capital gain and what does it mean for your tax bill? Simply put, a capital gain means you sold a capital asset that has grown in value and is then taxed by the government. This would include assets like a secondary property or a non-registered investment. At LCM Financial Planning, we use tax strategies to lessen your tax burden and plan for future taxes. For more information please see the article below. If you have questions on tax planning please call us at 905-430-4994 for a free initial consultation https://www.nbc.ca//what-you-need-to-know-about-capital-ga

Small business owners have unique tax situations, careful tax planning and strategy can have a great payoff. Contact our office to discuss how to best implement your tax strategy. https://www.lcmplanning.com/e-newsl//2019-04/article-2.htm

At LCM Financial Planning, we offer a free second opinion to those who are questioning whether their financial goals are being achieved. As a Certified Financial Planner with decades of experience in investments, insurance as well as financial planning, we will assess your current situation from a holistic approach. What is the process for a second opinion you may ask? We help you to clearly define your goals, objectives and risk tolerance. We assess your portfolio for alignm...ent of those goals, determine your rate of return, and assess the risk within your portfolio. We look at your income tax situation and determine where you can maximize tax efficiencies. Do you have enough insurance, or too much insurance? When we view your whole situation taking all areas of finance into account, we can get a good grasp of where you are now financially and provide you with recommendations. If you’d like a complimentary assessment, contact us at 905-430-4994 to make a phone or virtual appointment in person appointments will resume when deemed safe to do so. See more

Expecting a tax refund this year? Do you already have plans on how to spend it? If not, check out this article on some ways you may not have thought about putting your refund to good use. https://ci.com//financial-liter/what-to-do-with-tax-refund

We all wish we had a crystal ball to look into the future to see which direction the financial markets are headed, and more importantly, when. Unfortunately all we can do is look at historical data to see what has happened in past market downturns and navigate the current situation with that in mind. Below is a more detailed article from Manulife on making sense of an uncertain market. https://retail.manulifeinvestmentmgmt.com//making-sense-of