Scan QR Code to save my digital business card in your cellular.
Why engage my services?
I help clients with intergenerational wealth transfer using our country's laws while managing financial and other risks and opportunities. With my professional accounting, finance, and insurance education & experience, my ethical business practice will be an asset towards your best interest. For a discovery call, my phone number is 604.781.0852.
Individual Pension Plan (IPP) is a defined benefit plan designed for business owners or executives who want to maximize their retirement income. Call if you have any questions.
Locked-In Retirement Account (LIRA) allows you to transfer the money saved in a pension plan with a former employer to an individual plan.
Non-Registered Savings means it's not tax deductible for income tax purposes.
Typical savings or chequing account are non-registered but any savings that's not registered with the CRA is non-registered. That means it can be segregated funds, mutual funds, T-Bills, etcetera. Call if you have any questions.
Registered Retirement Savings Plan (RRSP) is a for retirement purposes. Contributions to an RRSP lowers your taxable annual income, which means that you enjoy tax savings in that year. In the year you withdraw from your RRSP, you add it to income and pay tax (preferably when you are retired and at the lower tax bracket). Earnings in an RRSP are not taxable until withdrawn. To read a lawyer's perspective on RRSP, feel free to download, "RRSP - Facts from a Lawyer", by clicking this link to my Resources page or call me if you have any questions.
TFSA is a Tax Free Savings Account.
Depending on the type of investment held in your TFSA, you can generally withdraw any amount from the TFSA at any time. Withdrawing funds from your TFSA does not reduce the total amount of contributions you have already made for the year. Withdrawals, excluding qualifying transfers and specified distributions, made from your TFSA in the year will only be added back to your TFSA contribution room at the beginning of the following year. 1
LIF or Life Income Fund permits you to draw funds from your savings if it's in a locked-in retirement account (LIRA). Please call Ramon if you have any questions.
Real Estate is not sold by insurance companies but can be a source of income if planned strategically, taking into account relevant real estate laws, income tax laws, insurance laws, and general business management. Because I am licensed, I am legally able to help you with buying and selling real estate in beautiful British Columbia. Click the light blue link to be redirected to my real estate trading site.
RRIF or Registered Retirement Income Fund is what an RRSP is converted into once you retire and must draw from the funds. You have until December 31 of the year you turn 71 to convert the amounts invested in your RRSP into a RRIF. Please call for any questions.