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KEY TAKEAWAYS FORO stands for the fear of running out of money – it affects 59% of Canadians. Retirees who take a defensive position gain access to tax-free benefits to cover unexpected costs. A resilient financial plan can eliminate FORO and provide a lifetime of reliable income. FORO is overcome through a combination of investment and insurance strategies. A recent survey from CPP Investments found that nearly six in 10 Canadians (59%) worry about outliving their savings. T

Most financial plans focus on money coming in (income), money going out (expenses), and what you do with the rest after the bills get paid. What they don’t always address is the financial erosion that threatens your ability to save more and build wealth. What is wealth erosion? You’re doing a good job of building wealth, but four forces are at work every day chipping away at your success. This is called wealth erosion, and it wears away at your future wealth the same way wave

If the law allowed you to build your entire financial plan around just one product—only one—what would you choose? This is the question that Bob Castilogne, the renowned wealth counsellor, began putting to clients decades ago. And even after all the innovation we’ve seen in financial planning, the answer is the same: it’s permanent life insurance. Here’s why: Most people instinctively opt for investments they frequently hear about, those that could experience explosive gr

Think about your income today and for the rest of your working years. If you’re 40, earning $100,000 per year and plan to work until age 65, that’s $2,500,000 of income at the very least. That’s worth protecting because no one can predict when a financial storm will hit or what kind of damage it will do, but they happen all the time. People lose their jobs, get sick, get sued, get sidelined by injury, or worse, every day. It’s only a nightmare if your wealth plan leaves you u