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Life Events
Whether you've landed your first "real" job, just been married, purchased a home, had a child or are ready to retire, North Peace Financial Planning will help you find solutions to help you reach your goals.
Planning a Wedding 
Your wedding day will be full of memories that will last a lifetime. But it takes a lot of hard work, planning and organization to make it all come together.
Make sure to give yourself enough time to take care of everything. There's the obvious like choosing the right dress and making the seating arrangements but there's also managing your pre- and post-wedding finances.
Your planning and budgeting shouldn’t end after your wedding. As a couple, you’ll be making plans for the future.
- Make a great start with a personal financial plan to help you reach your goals.
- A joint savings plan is a great way to save for shared short-term goals, like a new home or a trip.
- It’s never too early to start planning your retirement. After you’re married, you can also take advantage of a spousal RRSP.
- If you have a life insurance policy already in place, you may want to make your new spouse the beneficiary. You may also want to increase the amount of coverage.
- You may want to revisit your benefits plan coverage. Does one of you have coverage through a group plan? Can you combine coverage to maximize your benefits?
- Do you have a pension plan? If you do, you may want to consider adding your new spouse as the beneficiary of this plan.
Having a Baby
It's amazing how much of a difference one
little person can make. With so many things to think about, a little planning goes a long way.
When you're expecting, you think a lot about the future. You'll want to put plans in place to protect your family and you'll want to take steps to provide a bright future for your child.
- Now is the time to think about protecting your child's future by insuring your life and income. If you already have a life insurance policy you may want to increase the amount of coverage you have. Other solutions include disability insurance to provide income for your family in case you have an accident, and critical illness insurance because it provides a lump sum payment to keep your finances healthy while you recover from a life-altering illness.
- You may want to consider starting an education savings plan for your new baby. Starting early helps you accumulate more for your child's education and you may find that new grandparents want to contribute too!
- Revisit your benefits plan coverage to make sure that you and your spouse are covered for the costs associated with the baby's arrival. Make sure that your new baby is added to the plan's coverage.
If your family doesn't have coverage for health and dental expenses through a benefits plan, you may want to consider personal health insurance. Talk to your insurance specialist about your options.
Buyng or selling a home 
When you're considering a new home it's also
a good time to look at both your insurance coverage and your investment strategy.
- Your home is probably the biggest investment you'll ever make. We can help you protect that investment with enough life insurance to cover your debts.
- You may also want to think about insurance coverage in case you become disabled or experience a serious illness. Disability insurance provides a stream of income that allows you to continue to meet your mortgage payments while Critical Illness insurance can provide a lump sum payment to keep your finances healthy if you experience and need to recover from a life-altering illness.
Should you pay off your mortgage or contribute to your retirement savings plan? Answers to these and many other questions are available to you when you review your financial plan with a your advisor. They will provide you with suggestions and options that may help you balance your current obligations while still preparing for the future.
Planning for retirement 
If you're starting to think about retirement and planning for the time when you'll have the opportunity to focus on the things you’ve always wanted to do, we have resources to help you.
As you plan for retirement, you are probably thinking about issues like:
- How much money do I need and how much money will I have to live on after retirement?
- When do I have to convert my RRSPs into an income stream that will continue throughout my retirement years?
- What will happen if my spouse or I need care on a long-term basis due to an injury or illness?
- How do I make sure I have adequate coverage for medical expenses after I retire and don’t have a benefit plan?
We can provide information to help you make the decisions you need to make in planning for a happy and secure retirement.
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