Blogs
IMMEDIATE FINANCING ARRANGEMENT (IFA)
FOR CANADIAN CORPORATIONS
An IFA is a practice whereby you take out a premium life insurance policy that has a cash building component, such as an exempt whole or universal life insurance policy, and then directly use the policy as collateral to obtain a loan.
How the IFA works to help you get more tax deductions?
6 Reasons Why Retirement Planning
Should Be Your Priority
Retirement management has several benefits that range from both personal and psychological
to financial. Here are several advantages and common reasons for effectively planning your
retirement. As popular saying
“If you fail to plan, you are planning to fail!”
How to prepare yourself to face life- threatening situations and make the right financial decisions?
Each one of us begins a new day praying to God for the future of our family and ourselves. We step out of our home for work or any reason without knowing what is going to happen. Many personal unexpected situations might affect your family at large.
Custom HTML/CSS/JAVASCRIPT“Give a woman a dollar, and she can put it to good use. Teach her about how money really works, and she can change the world," Linda Davis Taylor
Introduction:
Money can be a source of empowerment, but for many women, it also brings emotional challenges. Whether you are a single mother, navigating a divorce, or managing your finances alone for the first time, understanding and overcoming these emotional "money blocks" is crucial for financial independence and early retirement. Here are the five most common emotional money blocks and how to release them:
In this guide, you will learn about the 5 emotional “Money Blocks” women face and how to release them to achieve financial freedom and empowerment.! 👊
Women often face a deep-seated fear of not having enough money, which can be paralyzing. This fear is particularly prevalent among single mothers and women going through a separation.
Build an Emergency Fund: Start by saving a small amount each month. Aim for 3-6 months' worth of expenses.
Create a Budget: Track your income and expenses to gain control over your finances. Use budgeting tools to simplify the process.
Seek Professional Advice: Consider working with a financial advisor who understands your unique situation.
Many women feel guilty about their spending habits or ashamed of their financial situation, especially if they've experienced financial hardship.
Embrace Financial Literacy: Educate yourself about money management through books, online courses, and webinars.
Join a Support Group: Connect with other women who are on a similar financial journey. Sharing experiences can be incredibly liberating.
Practice Self-Compassion: Understand that everyone makes financial mistakes. What matters is learning from them and moving forward.
Women often doubt their ability to make sound financial decisions, leading to reliance on others or avoiding financial planning altogether.
Set Financial Goals: Define clear, achievable financial goals for short-term and long-term planning.
Educate Yourself: Take advantage of resources such as webinars, workshops, and mentorship programs focused on women’s financial empowerment.
Small Wins: Start with small financial decisions and gradually take on more complex ones as your confidence grows.
Managing finances can be overwhelming, especially for single mothers and those going through significant life changes.
Simplify Your Finances: Automate savings and bill payments to reduce the mental load.
Break It Down: Tackle financial tasks in small, manageable steps.
Delegate When Possible: If feasible, delegate financial tasks to a trusted advisor or family member.
Many women use shopping as a coping mechanism for stress or emotional distress, leading to unplanned expenses and financial strain.
Identify Triggers: Recognize the emotions that lead to impulsive spending.
Create a Spending Plan: Allocate a specific budget for discretionary spending and stick to it.
Find Alternatives: Seek healthier ways to manage stress, such as exercise, hobbies, or connecting with friends.
Here is a quick checklist to get you started with your retirement planning and management blow. Remember imperfect action beats inaction, get started and keep tracking the progress today.
Create your income and expense sheet, click here to download our FREE- "Financial Flow Analysis cum Zero-Based Budgeting Sheet"
Know your Marginal Tax Rate (MTR) to decide if RRSP (saving tax now) make sense for you. Use our Financial Calculator click here.
Ensure you have eliminated bad debt and embrace good debt by earning uninterrupted compounding interest on your savings and paying simple interest on your loans including mortgage interest, where ever possible make your interest payments tax deductible to keep more of your money.
Ensure you will not deplete your savings in the rare event of serious illness and injury by protecting your income ability to continue saving for your retirement and paying the bills.
Create a simple Will and Health Care Directive to outline your medical treatment and asset distribution preferences, preventing government intervention in major life decisions due to incapacity or illness, even if you feel it is not important right now.
Only after above checkboxes are done, start investing for long term growth and harvest your investment every 6 months to take advantage of changing economic conditions.
IMMEDIATE FINANCING ARRANGEMENT (IFA)
FOR CANADIAN CORPORATIONS
An IFA is a practice whereby you take out a premium life insurance policy that has a cash building component, such as an exempt whole or universal life insurance policy, and then directly use the policy as collateral to obtain a loan. In this way, you gain the full benefit from the insurance policy, yet you are still able to use your money to build your business or to invest in other income-generating avenues.
How the IFA works to help you get more tax deductions?
6 Reasons Why Retirement Planning Should Be Your Priority
Retirement management has several benefits that range from both personal and psychological to financial. Here are several advantages and common reasons for effectively planning your retirement. As popular saying
“If you fail to plan, you are planning to fail!”
How to prepare yourself to face life- threatening situations and make the right financial decisions?
Each one of us begins a new day praying to God for the future of our family and ourselves. We step out of our home for work or any reason without knowing what is going to happen. Many personal unexpected situations might affect your family at large.
Working Hours
🟢 Monday to Saturday : 9:30 AM - 6:30 PM
🔴 Sunday : Closed
Our Service Area
Ontario | Quebec
Alberta | Nova Scotia
British Columbia | Saskatchewan
New Brunswick
Join Our Blogs
Kanwaljit (Sunny) Kochar DBA Hexavision Enterprise is licensed to sell Segregated Funds investments, Life and A&S Insurance products in Ontario, Alberta, QC, NB, SK, NS and British Columbia. Not available in other provinces.
License #s: FSCO LIC#17161321 (ON), AIC LIC # M-3493167-1763384-2020 (AL), BC LIC#LIC-2020-0022136-R01 (BC). Insurance and segregated funds provided by Carte Risk Management Inc.
@ 2024 Hexavision Enterprise| Terms And Condition| Privacy Policy | Advisor Disclosure
© 2024 Hexavision Enterprise. All rights reserved
Our Service Area
Ontario | Quebec
Alberta | Nova Scotia
British Columbia | Saskatchewan
New Brunswick
Working Hours
🟢 Monday to Friday : 9:30 - 6:30 EST
🔴 Saturday and Sunday : Closed
Join Our Blogs/Newsletter
Kanwaljit (Sunny) Kochar DBA Hexavision Enterprise is licensed to sell Segregated Funds investments, Life and A&S Insurance products in Ontario, Alberta, QC, NB, SK, NS and British Columbia. Not available in other provinces. License #s: FSCO LIC#17161321 (ON), AIC LIC # M-3493167-1763384-2020 (AL), BC LIC#LIC-2020-0022136-R01 (BC), AMF LIC# 2023-CI-1016414(QC), LIC # 087345 (SK), FCSC LIC# 220039066 (NB) Insurance and segregated funds provided by Carte Risk Management Inc.
@ 2024 Hexavision Enterprise| Terms And Condition| Privacy Policy | Advisor Disclosure
© 2024 Hexavision Enterprise. All rights reserved