WELCOME TO MY WEBSITE! I am a Certified Financial Planner, and since 1994 I've been helping clients achieve their goals.  I'd like to welcome you to my website.

Here you'll find straight-talking, real-world advice and guidance on topics such as Mortgage Plans, Retirement Plans, and Life Insurance.  I help my clients develop realistic, actionable financial plans that tie together these topics and the many other aspects of personal and family finances.

In addition, you'll find some great FREE resources, including financial tools such as life insurance and mortgage calculators and links to informative articles.

As you browse the site, I'm sure you'll notice that I take a different approach from most financial planners!  One of the differences is that I can assist with arranging your debt, including your mortgage, to be Tax-Efficient (should not be confused with "Tax-Deductible Mortgage") that's right for you.  Currently, the Tax-Deductible Mortgages doesn't exist in Canada, strictly speaking.  However, this strategy is very close!  If Tax-Efficient Debt is right for you, it can - with a proper financial plan - become a very powerful positive force in your financial future.  Please note that I am a Certified Financial Planner and not a mortgage broker.  I create detailed, comprehensive financial plans for my clients but do not place mortgages myself.  All mortgages all placed through a licenced mortgage broker or through a bank mortgage/lending specialist.

Enjoy your stay, and contact me when you're ready to save more money and build a better future for yourself and your family.

LATEST BLOG ENTRY... Get your interest plus all your payments back on your Car! Be your own Bank!...

September 29, 2009

How would you like to get back the purchase price of your car?

Most people buy a car in two ways: 1) they save the money and then spend it to buy the car, or 2) they go to a bank and finance it and after four or five years they owe no money but do have a used car! The key (which I can help you discover) is to be your own bank!...

[Read more at  Brian's Blog...]

DISCLAIMER... * This strategy involves borrowing to invest or leverage; restructuring of your debt; and converting payments to tax-efficient payments over time.  It may not be not suitable for everyone.  You should consult your chartered accountant, tax advisor and/or financial planner before starting this strategy.

Please see Legal Notes regarding borrowed money.

Structure Your Mortgage Debt to be more Tax-Efficient! * (this strategy is not a Tax-deductible Mortgage.  It is most suitable for clients who are in a high tax bracket, are comfortable with the volatility of the markets, and comfortable with their cash flow situation.  It may not be suitable for everyone).  Many of my clients try to save for their retirement (often with RRSPs) but cash flow is sometimes a problem.  The mortgage payments, insurance, cars, children, trips, house renovations, etc.  all take a toll . 

Most people want just a few financial goals.  The first is to retire early.  The second is "pay off the mortgage as soon as possible" .  The problem is by the time they pay off their mortgage, they are looking to buying a new house with a new larger mortgage!  Then by the time they are in their 40's they realize they are falling short.  By the the time they are in their 50's freedom 55 is a dream.  Their children are in university and they have not made their normal RRSP contribution for years!   If they don't have a pension that they have been in for thirty years they are in trouble!

Now you can use something called Tax-Efficient Debt.  I can assist in restructuring your debt, including your mortgage, to be Tax-Efficient.  I can do this for you with no setup fees, no legal fees, and no appraisal fees.  You will save thousands immediately on administration (as compared to many mortgage brokers and other financial planners), in addition to the money you'll save on your mortgage.  Finally, I will assist in arranging Tax-Efficient Debt for you as part of a comprehensive financial plan that takes into account your particular financial situation and that is geared to getting you and your family the best possible results over the coming years.

Here's how it works.  In a nutshell, you convert your "bad debt" - your mortgage, car payments etc.  - into "good debt" for which you can write off the interest payments.  As you pay down your mortgage you reborrow the same amount and invest it in a conservative investment product; the interest is tax deductible (as long as you expect to earn income which the mutual funds would qualify for under the rules of the CRA).  In addition, you may receive a tax refund each year and can put this against your mortgage payments.  If this is done correctly you could convert your 20 year mortgage in as little as 12 years or less. 

How large will these tax refund cheques be?

The interest on a newly "converted Tax Efficient Mortgage" of $100,000 at 6% (interest only) would be $6,000 per year.  If you were at a 40% tax bracket (on your top earned income) you would receive a cheque from CRA for $6,000 X 40% = $2,400 as a tax refund you would not normally get every year.

The idea of a Tax Efficient Mortgage actually has been around for a long time.  Until recently, though, it has been very difficult and time-consuming to administer.  Now, with a licensed mortgage broker who works with a certified financial planner, you have some new mortgage products from the big banks and some very tax effective conservative mutual funds that can make this happen. 

For more information on Tax-Efficient Debt and other mortgage plans, see the Mortgage Plans section of my website.