613-283-5510 info@pankow.ca

Our Philosophy

Our Philosophy

Accumulating wealth doesn’t come easy. While most people would suggest they would love to retire early and travel the world, there is a big difference between a dream, and a goal.

In an age when too many people are hoping to rely on lottery winnings or inheritance to look after them later in life, Canadians are saving less and borrowing more. Half of working age people are living pay cheque to pay cheque and, while financial and retirement planning may be a priority, it often doesn’t get the attention it deserves. As a result, it often gets pushed to the back burner as time and money gets spent on shorter term needs and wants.

At Pankow Financial Solutions, we believe effective financial and retirement planning is important at all ages and can give people the clarity they need to make the best decisions with their money. We believe a well thought out, structured and disciplined investment plan can provide tremendous advantages and can lead to financial freedom later in life.

At the same time, we believe that financial security planning should not take a back seat to wealth accumulation plans. Too many things in life are not certain, and we all face the risk of serious illness, disability or premature death. We can quantify the impact of such events on one’s long-term financial plan, and help ensure that assets are preserved for their intention – financial freedom and retirement when, and how you want it.

We believe that we need to understand our clients’ dreams, goals, priorities and fears. This deep understanding enables us to design the most effective planning, and most appropriate solutions to our clients’ financial needs.

We don’t charge a fee for our consultations or our services. We are paid by investment and insurance companies as we manage your financial future. We believe we can add the understanding, clarity and value you are looking for in your next financial advisor and are willing to spend the time needed to create a meaningful, valued long-term relationship.

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Are you or someone you know living with a disability? Are you aware that the Government of Canada has developmed a program that can provide you with thousands of dollars in grants and bonds that can be invested for your future financial security?

Yes, believe it or not, for the right people, this means free money from your federal government.

Although this program has been around since 2008, most people are still not aware of it or its benefits.

if you are a resident of Canada under the age of 60, have a Social Insurance Number and are eligible for the Disability Tax Credit, you are eligible to open a Registered Disability Savings Plan. If you are collecting CPP disability or ODSP, you are likely eligible.

The program has two funding elements - one which provides a "matching" grant on contributions you or someone else makes to the plan for you. For example, a $1,500 annual contribution would receive a $3,500 Canada Disability Savings Grant if your family income is under the maximum amount (currently approx. 90,000 annually). The plans, once opened, are eligible for up to a $1,000 annual Canada Disability Savings Bond even with no other contributions.

Someone starting a plan now or in the future is able to go back and claim for all grant and bond amounts they would have been eligible for since 2008. That means that most qualifying people would be eligible for ten years of bond payments - or $10,000, even if they were not able to add any other money to the plan

A RDSP is considered a long-term investment and there are restrictions on when you can withdraw monies to spend. However, considering the incredible benefits they provide, including "free money" from the federal government, everyone who is eligible should get some professional advice to see how these plans can significantly enhance their future financial security.

Furthermore, a parent, spouse or common-law partner can also open a plan for a qualifying beneficiary and manage it on his or her behalf.

If you or someone you know is living with a disability, they should be considering starting a RDSP. I have helped numerous clients estabish a plan and would love to help more people build their future financial security. Call me at 613-283-5510 or message me here to learn more.

Here is a link to the Mackenzie Financial page on RDSPs: www.mackenzieinvestments.com/en/products/rdsp

There are no fees to establish a plan, the savings grow free of tax and future withdrawals do not affect an ODSP payments. These plans are complex and the rules can be a challenge to understand. That's why I am here to help. Please share this with anyone you know who is living with a disability.
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Call us today for a personal consultation – 613-283-5510