Examining the 4 percent rule

The so-called 4 percent rule has become the popular formula for napkin math when it comes to calculating how long your retirement savings could last. It goes like this: 

It’s not unrealistic for you to ponder the possibility of a modest cash windfall in your lifetime. It could be an unusually large bonus, profit from the sale of your business, or an inheritance.

Spring time is the ideal opportunity to have a chat with your Lawyers Financial Advisor and do a little spring cleaning on your family finances.

Life insurance serves many purposes, but one of the top reasons people buy insurance is to replace the income that would normally provide for their family’s lifestyle and long-term security in the event of premature death.

Should you provide financial help to your adult children now or leave them an inheritance later? It’s up to you but giving away some of your wealth while you are still around to see the effects of your generosity can have significant advantages. 

It’s easy to imagine using an insurance policy for a water leak damaging office equipment or if you back your car into a post and crush your bumper, but a disability insurance claim is an unpleasant and abstract event.

When people hear the phrase “financial planning” they usually think of RRSPs, TFSAs, and other types of investments. However, life insurance plays a strategic role in the financial planning process.

February is a month for showing people how much you care about them. So make February the month for a family chat about money and your estate plan. Talking about money is never easy but it does show how much you care about them.