Investment
Investment
MMG Insurance & Estate Planning arms clients with solid financial plans, diversified portfolios and creative income strategies. We offer a comprehensive range of investment products and a successful process for building and managing wealth using Segregated Funds and Mutual Funds.
Mutual Funds
One of the most popular and common types of mutual funds tend to be equity funds, which invest in stocks, including Canadian equities and small or large cap businesses. Other common mutual funds include money market funds, which invest in short-term fixed income securities such as government bonds or treasury bills. Fixed income funds are another fund type that focus on investments that pay a fixed rate of return like government bonds, investment-grade corporate bonds and high-yield corporate bonds.
Segregated Funds
Segregated funds are similar to mutual funds, however what sets them apart is the guarantee they offer on investment protection against possible market downturns. Distributed exclusively by insurance companies, segregated funds are comprised of stocks, bonds or market securities and are managed by experts.
Tax Free Savings Account (TFSA)
Since the introduction of Tax-Free Savings Accounts (TFSA) many Canadians have taken advantage of the opportunity to accumulate savings on a tax-free basis. Some Canadians, who are approaching retirement age, may decide to leave the funds in their TFSA to their heirs. Combining the power of life insurance with a Tax-Free Savings Account can help to significantly increase the estate value of the funds in their TFSA.
Registered Retirement Savings Plan (RRSP) & Registered Retirement Income Fund (RRIF)
Many people have a portion of income that they invest and wish to leave as a legacy for future generations; assets they never intend to spend themselves. By withdrawing only the minimum required RRIF income, they are actually creating a larger tax liability, as 100% of the remaining RRIF balance is normally taxable on their death. Conventional investments simply create additional tax liabilities now and for the estate. At MMG Insurance and Estate Planning our goal is to pay tax on RRIF income only once, have proceeds paid out to the designated beneficiary outside of the estate at death and avoid paying income tax, probate and legal fees.
Registered Education Savings Plan (RESP)
To encourage education savings, the Government of Canada and some provincial governments provide annual grants based on how much you contribute to your child’s RESP. Combined with your regular contributions, this generous government assistance deposited in your RESP gives a significant boost to your savings. Depending on your family income, you could be eligible for an additional grant. All your investments, grants and interest grow tax free until withdrawal.
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