• Is your income stream relatively secure?
• Have you revisited your budget and carefully evaluated the additional expenses to purchase a property?
• What is your borrowing capacity?
• Are you a good candidate for the Home Buyer’s Plan?

Protect your new investment and your family financially with:

• Disability or critical illness insurance for the main income provider
• Life insurance in the eventuality of the death of one or both income providers

Buying a home is an important step in your life; with proper planning it can be a fun and exciting time, as well.

• Determine if your retiring date is realistic
• Re-evaluate your savings strategy regularly; mid and long-term
• Define your anticipated sources of income

• Plan to purchase income products as an annuity or guaranteed investment funds to maximize your income
• Ask for information on how some sources of income may cause government benefits to be reduced once certain income levels are reached

In Canada, we are fortunate to have a system which we all fund. However, you may wish to give thought to some other health insurance plans that will cover you in different circumstances.

• Critical Illness Insurance (CI) – CI pays you a lump sum if you experience one of a specified list of diseases or afflictions such as heart attack, stroke or cancer. The proceeds are not taxable and may be used for any purpose.
• Long-Term Care Insurance (LTC) – The cost to live in a nursing home can be substantial. LTC insurance makes regular payments if you require institutional or at-home care due to loss of independence.
• Out-of-Canada Travel Insurance - A simple visit to a hospital in the United States can be a costly surprise.

• Review your will to make sure the assets you want to leave to your heirs are distributed according to your wishes.
• Plan your estate to shelter your heirs from paying a substantial tax bill. For example, if you gift a family cottage to a child, their tax bill on any capital gains could be significant

Before the official launch, you will have tested your idea, developed your business plan, found the best associate if desired and of course have proper financing in place. A full range of financial and accounting services as well as advice on legal and tax issues will be important to assure the success of your business.

As an owner of a business, a shareholder of a business or if you are self-employed, you should consider the following:

• Business succession planning
• Buy/sell agreements to allow for partner buyout
• Key stakeholder needs, including coverage in case of death, disability or critical illness
• Financing debt structure, venture capital
• Protecting business assets from creditors
• Tax-efficient investment strategies, savings and estate planning for business
• Individual Pension Plans
• Group RRSPs and group health benefits for employees to retain and attract them

A financial strategy will have to be developed and reviewed at different stages of your business growth.