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It takes careful planning to achieve your goals. At Flight Plan Financial, we will take into consideration the wealth accumulation phase and the wealth distribution phases of your life. We will guide you throughout the process to ensure that your plans will be properly managed.
Wealth accumulation is the area of financial security planning that most people tend to focus on. During this phase, we help you invest in assets based on your goals and help you build your overall net worth. Meanwhile, wealth distribution is when you begin distributing your finances. Initially, this is an income in retirement and also includes the distribution of your wealth to your heirs, like family members, or the government (in the form of taxes).

What sets our financial security planning approach apart is that we put both of these phases into the context of risk management. Throughout your life, there is the possibility of financial emergencies like health crises and death. Any of these events could make an impact on your accumulated wealth and change your current lifestyle and goals.

At Flight Plan Financial, we want your plan to withstand these risks, regardless of when they might occur.

Insurance Protection

Life Insurance

Life insurance provides whoever you choose with a one-time, tax-free payment when you die, as long as you continue to pay your premiums. It not only protects your family but can also be part of your financial plan, which allows you to access money in your policy while you’re alive.

Term

Permanent

Every plan provides lifelong coverage that offers protection for the people you care about, including yourself. But it’s more than just insurance. Over time, your policies can build value that you can access while you are still alive with certain tax implications. You can get money in your policy through a loan or a withdrawal. And when you die, your beneficiaries will receive a tax-free payment, similar to term life insurance.

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Living Benefits

Disability Insurance

It can give you a tax-free monthly payment to cover your expenses if an illness or injury keeps you from working. While a disability can often be visible to the naked eye, not all disabilities are so easily recognized. Chronic pain or a mental health issue also qualifies as a disability.

CRITICAL ILLNESS INSURANCE

Critical illness can give you a tax-free payment if you’re diagnosed with a serious condition. Your contract will define which conditions you’re covered for, but some examples are cancer, heart attack, and stroke.

HEALTH & DENTAL INSURANCE

It helps pay for things that provincial health care plans don’t cover: prescription drugs, dental, hospital, vision, paramedical, and ambulance services. Coverage is similar to a group benefits plan.

HEALTH & DENTAL INSURANCE

Investment Management

Investing your money in the right savings options is crucial, no matter what stage of life you’re at. We’ll help you make the best choices to get the most out of your money.

Tax-Advantaged Investing Solutions

The Registered Retirement Savings Plan (RRSP) and Tax-Free Savings Account (TFSA) are the bedrock of most Canadians savings, investing, and retirement planning. They complement each other well, but they help you achieve your goals in slightly different ways.

RRSP

It’s an investing and retirement savings account registered with the Canada Revenue Agency that provides Canadians benefits to save for retirement. The money you put towards an RRSP isn’t taxed as a part of your income, so you pay less income tax.

It’s different from a typical savings account as it’s a place to put your investments where any growth isn’t taxed until you take your money out. Usually, you’ll be retired by the time you withdraw your money, so you’ll generally pay less tax than in your higher-earning years and get to keep more of your money for retirement.

TFSA

RESP (REGISTERED EDUCATION SAVINGS PLAN)

Help your kids get a great education. Take advantage of government contributions and tax-free savings to help your kids on their way to success. An RESP is supported by the federal and some provincial governments. It helps you save money for a child’s future education, where the investments inside the investment account grow tax-free.

There is life-time limit of $50,000 per beneficiary and amounts contributed in excess of this are subject to a penalty tax of 1% per month until the over-contribution is withdrawn.

Managed Solutions

Mutual Funds

A mutual fund pools your money other investors in a group of investments like stocks and bonds. A professional money manager chooses the investments for each fund with a specific objective and investment type in mind. For example, a Canadian equity fund invests primarily in Canadian stocks. Mutual funds can help you spread your money more widely than investing in individual stocks and bonds.

Segregated Funds

In a nutshell, a segregated fund is a pool of money spread across different investments. It’s managed by experts and helps you diversify your savings and protect them from dips in the market. Depending on how much you’re looking to invest, there’s a broad range of series choices with different fee designs.

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Retirement Solutions

Whether you’re only thinking about it or are already retired, good retirement planning is what it takes to succeed. Together with our advisors, you can create a strategy and set the stage to enjoy your golden years. We’ll tailor our solutions to fit your lifestyle, habits, and aspirations.

Your retirement income comes in many forms. You may have a guaranteed income from work, a Canadian Pension Plan, an old-age security, and your own savings. We can help make sure that what you have is enough for the life you want and the money you invested is available if you need it.

Registered Retirement Income Fund (RRIF)

It’s time to live the life you saved up for. Converting your RRSP into something that can allow you to have the retirement that you envisioned.

Annuities

Invest your savings into a stable and regular paycheck for life with a life annuity. Income annuities are an easy way to help ensure that your needs are covered throughout your retirement.