Golden Rules of Investing Corona Virus & Your Retirement Savings Perhaps you remember, during the early days of the COVID-19 pandemic, we all watched stock markets turn decidedly negative - quickly. During this time, many of you had rightful concerns regarding your hard-earned savings and willingly reached out to our team to ask questions such as: Is my Registered Pension Plan safe? Is now a good time to make some changes? How do I change my investments in my Registered Pension Plan? As Canada slowly reopens, the federal and local...read more
New COVID-19 Protocol Prevention Measures Dear Clients, As the COVID-19 restrictions begin to ease off, we are slowly opening our doors to serve you. To reduce the impact of COVID-19 outbreak conditions on our businesses, among our employees and customers, it is essential to comply with the social distancing policies. We are paying close attention to regulations and guidance issued by federal and local government agencies. We encourage everyone to follow the best practices for minimizing the spread of COVID-19. Therefore, we implemented Basic...read more
Premium Deductions For Dental and Extended Health Care Due to COVID-19 Dear Plan Administrators, Due to the COVID-19 pandemic, many dental and health practitioners have been forced to close. Therefore, the use of dental and some other extended health care benefits have declined. Canada`s two major insurance companies, Sun Life and Canada Life have recently announced premium deduction for dental and non-drug-related extended health care benefits for their group insurance clients. Sun Life Financial Here are the changes Sun Life is making for...read more
Update on Operations at Calla Financial Services Ltd. As of today, we surpassed 1 month of altered operations and work from home. We are pleased to report that all our clients remain in business and are continuing to operate, albeit in unusual circumstances. We were quickly able to shift our service model and continue to interact and support our clients via email, telephone, Zoom and other media. Our switchboard is operating normally. You can also reach your support team directly on their mobile devices or by email. We are striving to...read more
Gamification The Science and Software to Make Your Team Happy and More Productive at Work Organizations have seen the rapid ascent of computing technology for employee well-being in the last two decades. This includes a broad range of applications, employees monitoring and managing their own health, and with games transforming long periods of unrewarding work to something fun. Question is can managers reward their employees with their achievements while lowering healthcare costs and decrease absenteeism? The term called ‘Gamification’ became...read more
Critical Illness insurance is a “Living Benefit,” that provides you with a Tax-Free lump sum payment upon diagnosis of a critical illness. It can be purchased to cover you and your family (children between 15days-17 inclusive) for up to 30 qualifying conditions. The coverage is designed to mitigate financial struggles when an individual is unexpectedly diagnosed with a life-threatening condition such as;read more
Being Smart with Your Finances Starts with Understanding Your Retirement Plan & Having an Investment Strategy
Being Smart with Your Finances Starts with Understanding Your Retirement Plan & Having an Investment Strategy A pension plan is a valuable component to any retirement plan. If you are participating in a pension plan at work, you should be receiving a pension plan statement at least annually from your pension plan provider illustrating the performance of your pension plan. Read your statement carefully, often it will include an estimate of the projected income you could expect at retirement.read more
The TFSA was introduced to us on January 1, 2009 by the Conservative Government to curb the growing belief that Canadians are becoming inherent spenders, not savers. Since then, the TFSA allows Canadians to contribute in a tax sheltered and ultimately tax-free environment. Any investment growth, interest and capital gains accumulated within the investment are considered effectively “Tax-Free”.read more
Registered Retirement Savings Plan contributions are arguably one of the most beneficial tax deductions available to Canadians.
RRSP contributions for 2016 must be made by March 1, 2017, and they can be done either in advance or to catch up on a previous year’s available contribution room. Here some information on how to reduce your income tax, and learn more about the maximum contribution limits!
The demographics of Canada are rapidly changing due to the aging Baby Boomers, but what does that mean for the financial wellbeing of other generations, especially Millennials?
We have seen that Millennials are entrepreneurial leaders who are passionate about advancing the economic, social and environmental health of themselves and others. However, unlike other generations, they often start their career with student debt and expensive living costs.read more