Insights and Advice

YOUNG, HEALTHY, AND FIT? Now’s the time to invest in Critical Illness Insurance

By R.A. (Bob) Challis, CFP, RHU, TEP, The Nakamun Group, Winnipeg

Young, healthy, fit adults embarking on their life adventures are unlikely to consider that they might be one of the two Canadians alive today who will be diagnosed with heart disease, or one of the three who will have a stroke before age 65 or be stricken with life-threatening cancer. Yet, those are the statistical realities.  Read More…

“WHAT’S YOURS IS MINE…” The Financial Realities of Life Partnerships

By Floyd Murphy, CFP, CLU, CHFC, The Nakamun Group, Vancouver

Reality Number One: more than 40 percent of marriages end in divorce before couples reach their 50th anniversary. Regardless of how long a marriage or “common-law relationship” endures, at the end, there will be financial consequences. Read More…

TAX SLIP REMINDERS

By Garry Keiller, The Nakamun Group, Edmonton

Ensure you have all your receipts and information slips before filing your 2013 tax return. If no substantial changes in your situation – such as changes in your investment portfolio – have occurred in 2013, you might refer to your 2012 tax return to identify the tax reporting slips you should be receiving. In addition, any tax refund interest from 2012, which must be declared on your 2013 tax return, will be noted on your notice of assessment.

The following are the tax information slips that you are most likely to receive:   Read More…

2013 YEAR-END MARKET COMMENTARY

By Greg Farries, BSC, The Nakamun Group, Calgary

2013 will be remembered as a year of enthusiasm for global equity markets. Meanwhile, the Canadian equity market lagged behind the markets of most other developed economies, primarily because of continued weakness in the material sector.

Read More…

The Nakamun Group Celebrates 40th Anniversary

By Floyd Murphy, CFP, CLU, CHFC, The Nakamun Group, Vancouver

 The original six individuals who formed The Nakamun Group had their inaugural meeting in the fall of 1973 at the cabin of one of the partners, located at Nakamun Lake, north of Edmonton. Hence, the name, The Nakamun Group. The group, which is one of the longest established organizations of its kind in Canada, has grown and evolved during the past 40 years to meet the financial needs of our clients. There are now five Nakamun partner companies in British Columbia, Alberta, and Manitoba. Read More…

Financial Needs for a Comfortable Retirement

By Floyd Murphy, CFP, CLU, CHFC, The Nakamun Group, Vancouver

Calculating the amount needed to retire comfortably is an exercise everyone should perform well before retirement, to ensure that the financial components needed to achieve the results are in place in time. There are fundamentally four financial components essential for a comfortable retirement: Read More…

SCHEMES that can cost you your Retirement Savings…and more

By Garry Keiller, The Nakamun Group, Edmonton

From Canada Revenue Agency website:

“Warning: Investing in schemes that promise you tax free withdrawals from RRSPs and RRIFs could result in the loss of your retirement savings.

“The Canada Revenue Agency (CRA) is finding an increasing number of questionable registered retirement savings plan (RRSP) and registered retirement income fund (RRIF) tax-free withdrawal schemes. The CRA is warning that investing in such schemes could result in you losing your entire retirement savings to unscrupulous promoters, as well as a reassessment of your tax returns.” Read More…

The Currency Effect

By Floyd Murphy, CFP, CLU, CHFC, The Nakamun Group, Vancouver

Returns on international, including US, investments are impacted not only by the performance of the investments themselves, but perhaps even more so by the exchange rate of the Canadian dollar, assuming you are buying and selling those investments using Canadian dollars. Read More…

Big Money Problems

Bob Challis CFP, RHU, TEP senior financial and estate planner at Nakamun Financial Solutions, was the featured advisor  in the Winnipeg Free Press’s September 14, 2013 Money Makeover.

Having accumulated excellent pensions, and more wealth than they dreamed of, a couple discovers that managing their financial security is more complicated then they anticipated. They look for direction in assessing their available retirement options.

To read the full article in the Winnipeg Free Press, click here

 

 

INSURED ASSET TRANSFERS — Options in Cascading Wealth to Future Generations

By R.A. (Bob) Challis, CFP, RHU, TEP, The Nakamun Group, Winnipeg

When your financial circumstances support passing a monetary legacy to your heirs — children, grandchildren, or subsequent generations — one option to consider is the transfer of assets through a permanent life insurance policy. Such a strategy could complement your estate plan, provide you with tangible tax savings during your lifetime, and increase the monetary benefits to your intended beneficiaries after your death.
There are two basic approaches to Insured Asset Transfers… Read More…