You are encouraged to visit the Prosperity First Financial website often to receive timely content and trending information. Government regulations change often, needing you to be in the know with how it will affect your plans. What is the TFSA maximum amount this year? We are glad to bring you up to date.
The articles on this website are added to regularly, providing new understanding. Do you have a request or question? Let us know, perhaps it can be answered in the next regular addition.
Upcoming client learning events are shared in the Events portion. November is Financial Literacy month, watch for local events supporting that. What events are you interested in seeing?
We are pleased to bring you knowledge to make the best decisions, to empower your success.
When Katherine experienced a life changing illness, family and her recovery were top of mind. This meant not letting things like financial obligations get in her way.
Description: Sad, slow music begins to play in the background on a black screen.
Description: A woman appears sitting on a chair in a living room beside a table with a vase of flowers. She looks to the right of the camera and begins to speak.
Katherine: I think as humans we always think it's not going to happen to us. We always think it's going to be the next person. We just, I guess, especially when you're younger, you feel invincible. You just feel it's not going to affect you. It's not going to happen to you.
Description: A white box appears screen right of Katherine with red text. The text reads, Katherine, self-employed mother of two.
Description: The white box disappears.
Description: The screen becomes grey and blurred. A white box appears screen right. The text reads, in May 2015, Katherine was diagnosed with Langerhans cell sarcoma. The red text disappears, and more red text appears that reads, 60 known cases worldwide, zero specialists worldwide, 25% survival rate.
Katherine: As we broke this news to various people around us, the people that were, I guess in my husband's world,
Description: The box disappears and Katherine reappears to the right of the camera.
Katherine: which is the medical community, they understood immediately the implications. So they would immediately come and give me a hug. I knew that wasn't good.
Description: The screen becomes grey and blurred again. A white box appears screen right. The text reads, Katherine visited doctors familiar with her illness in Boston and California for treatment options.
Katherine: Every time I would be sitting in the waiting room waiting for my radiation treatment,
Katherine: I would look at who was sitting around me, and I could see that there were people who were struggling like me with these health issues, but they had other struggles as well. They had to figure out how their rent was going to be paid. They were in a state where they could not go to work, but how could they make their financial commitments?
Description: The screen becomes grey and blurred again. A white box appears screen right. The text reads, in her 30s, Katherine purchased critical illness insurance for her family.
Katherine: This critical illness insurance made the whole.
Katherine: process of recovery just a lot smoother, a lot easier. By removing the financial element out, by it being able to take care of that financial element, we could just focus on the whole healing, on the whole finding the treatment plan, going through the treatment, all of that, and just getting better.
Description: The screen becomes grey and blurred again. A white box appears screen right. The text reads, Katherine’s cancer is currently under control and doctors continue to monitor her progress.
Description: Katherine: I can't believe that.
Katherine: It almost seems like it never happened. It was so intense while it was happening. Now that it's over with, it just seems like it was another lifetime away.
Description: The video changes to Katherine walking with her two children on the sidewalk with snow on the ground.
Katherine: When it's about to all be gone, you certainly become aware of what's really most important to you.
Description: The video returns to Katherine.
Katherine: And, I still get mad at my kids and my husband, you know, but I think I'm a lot more patient with the people closest to me because you're just keenly aware that they may not always be there or you may not always be there. So, you know, just let go of the little insignificant things.
Description: A white screen appears with red text that reads, protect what’s most important – your health and the ones you love. Talk to your advisor today. The Canada Life logo appears.
Learn how to invest for retirement based on your comfort with risk.
Description: The back of a house is shown with a door and steps to the yard. Two open hands move in, framing the house.
Narrator: If you want your savings to grow, you usually need to take on some kind of risk.
Description: Daniel stands in his yard sketching on a clipboard.
Narrator: The trick is to find investments that match your comfort with risk.
Description: Cut to view of clipboard. He finishes his sketch of a new deck at the back of the house.
Narrator: Target risk funds can help you do that.
Description: Words “Target risk funds” appear onscreen.
Narrator: Each fund includes a unique mix of different types of investments.
Description: Five pie graphs appear. The graphs are arranged from low to high risk: “Conservative,” “Moderate,” “Balanced,” “Advanced” and “Aggressive.” A meter appears below to indicate a “Lower” or “Higher” amount of risk.
Narrator: For example, a conservative risk fund might focus on bonds and real estate.
Description: Camera zooms in on the “Conservative” risk fund. Investment graphics appear beside to represent bonds and real estate.
Narrator: That’s because these types of investments tend to provide a return that’s more consistent and less volatile.
Description: Camera pans to a graph of stock market fluctuations over time. The gradual growth of the “Conservative” risk fund is shown. A pile of money below the graph becomes larger as time progresses.
Narrator: On the other end of the scale is an aggressive risk fund, that would focus more on equities (or stocks).
Description: Camera pans back to the “Conservative” risk fund, moves past the “Moderate,” “Balanced” and “Advanced” graphs to the “Aggressive” risk fund. Investment graphics appear beside to represent stocks.
Narrator: Returns on these types of funds go up and down with the markets. You can make a lot or lose a lot in a short time frame.
Description: Camera pans back to the graph of stock market fluctuations. The pile of money below the graph gains or loses money as time progresses.
Narrator: To help manage risk, our investment managers spread each fund’s investments across different industries, countries, and groupings of investments with similar characteristics, laws and regulations.
Description: Investment graphics fill the frame. The investment manager’s hand moves in and five investments are chosen to build a fund.
Narrator: When returns for one type of investment are down, others tend to be up.
Description: Two of the investments become smaller and the others get larger. The hand replaces the smaller investments.
Narrator: The managers rebalance each fund to keep it within its specific target risk level.
Description: The five investments line up and two meters are displayed below, indicating a “Lower” or “Higher” amount of risk and a “Lower” or “Higher” return. The fund’s risk and return are set.
Narrator: Complete our investment personality questionnaire to find out how much risk you’re comfortable with.
Description: Cut to Daniel on his laptop at home.
Narrator: Once you know, it's easy to pick your matching target risk fund.
Description: The investment personality questionnaire is displayed on the laptop. He calculates his points from each section.
Narrator: And remember, as your life changes, your investment personality may change with it.
Description: Cut to Daniel outside in the summer, building the foundation for his deck. A “Conservative” risk fund is displayed.
Narrator: When that happens, you can just switch to a different target risk fund.
Description: Cut back to him in the winter, building the deck railing. A “Balanced” risk fund is displayed.
Narrator: What an easy, hands-off approach to investing.
Description: Daniel and his family are shown, enjoying the finished deck in the summer.
Narrator: Want to learn more about target risk funds?
Description: Camera pans.
Narrator: Sign into GRS Access at canadalife.com
Description: Text “Sign into GRS Access at canadalife.com” appears with Canada Life logo and legal line: Canada Life and design are trademarks of The Canada Life Assurance Company. candalife.com 1-800-724-3402
Learn how to save more money for your retirement by earning return on your contributions.
Description: Tamira sits on her patio and opens her laptop.
Narrator: When it comes to saving.
Description: Cut to view of laptop.
Narrator: Your contributions aren’t the only way your investments can grow.
Description: She reviews her group retirement and savings plan. The balance, contributions and growth are shown.
Narrator: You can also count on the returns on those contributions.
Description: Camera pans up to reveal a few bills of money as an initial contribution.
Narrator: Both your contributions and any earnings get reinvested.
Description: Camera zooms out. An arrow connects the bills to an investment graphic.
Narrator: Then anything you earn on that money is reinvested.
Description: A larger grouping of bills is connected to a second investment graphic.
Narrator: And anything you earn on that money is reinvested.
Description: A pile of money is connected. The pile is connected to the contribution. All graphics create a cycle.
Narrator: You’re making earnings on your earnings.
Description: Camera pans back to the initial bills shown. There is now a larger pile of money.
Narrator: This pattern is called compounding.
Description: The word “Compounding” appears onscreen.
Narrator: If you contribute to your savings monthly,
Description: Cut to bar graph showing yearly contributions over 5 years.
Narrator: watch how a 5% annual return on your investment.
Description: 5% of earnings is added on top of each yearly contribution.
Narrator: will grow over 10, 15, 20 years and so on.
Description: Camera zooms out to as the graph extends to show contributions over 20 years.
Narrator: With compounding, you make so much more.
Description: 5% of earnings is added on top of each contribution from 6 to 20 years.
Narrator: The longer your money is invested, the more you earn over time.
Description: Camera pans to show total earnings of $203,729 over 20 years as a large number. Small text appears underneath: “$500 monthly with 5% annual earnings.”
Narrator: The key is to start saving early and maintain a long-term focus.
Description: The total moves over to the left side of the frame.
Narrator: An extra five years of saving and earning can make a big difference.
Description: On the right, total earnings of $294,060 over 25 years is compared.
Narrator: So start investing now through your group retirement and savings plan.
Description: Cut to Tamira 5 years later, sitting on the patio of a coffee shop, looking at her phone.
Narrator: Make regular contributions and avoid taking money out.
Description: She receives a notification from her banking application that $500 has been sent to her savings plan.
Narrator: Then watch compounding help your money grow.
Description: Cut to close up of her phone. Her overall investment growth is shown on a line graph.
Narrator: It’s an easy and powerful way to save for your future.
Description: Cut back to Tamira, talking to her partner on the patio.
Narrator: Sign into GRS Access at canadalife.com.
Description: Text “Sign into GRS Access at canadalife.com” appears with Canada Life logo and legal line: Canada Life and design are trademarks of The Canada Life Assurance Company. canadalife.com 1-800-724-3402.
Let's build you a financial plan!
Name is a required field.
Special characters are not allowed here. Please provide valid input for this field.
Mobile number is a required field.
Email is a required field.
Provided email is formatted incorrectly. Please enter a valid email address
The sum of the numbers is incorrect.