Laurent Munier, PFA

Top 10 Reasons Why Owners Fail to Plan for an Exit "Less that 10% of business owners are successful in transitioning out, and with more than 75% of small business owners in Canada reporting that they hope to transition out in the next 8-10 years, it is becoming even more critical that owners get prepared because if they don’t there is high likelihood that that won’t be able to get much for their businesses when they do finally exit. " https://ow.ly/SGQ350Sbn6y Sometimes getting to “DONE” is as simple as coffee & conversation. How about we have a chat… #groupbenefits #employeebenefits #consulting #leadership #communication #culture #compensation #wellness #employeeengagement #cgib Humans serving Humans

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Top 10 Reasons Why Owners Fail to Plan for an Exit "Less that 10% of business owners are successful in transitioning out, and with more than 75% of small business owners in Canada reporting that they hope to transition out in the next 8-10 years, it is becoming even more critical that owners get prepared because if they don’t there is high likelihood that that won’t be able to get much for their businesses when they do finally exit. " https://ow.ly/bMlJ50Sbn7k Sometimes getting to “DONE” is as simple as coffee & conversation. How about we have a chat… #groupbenefits #employeebenefits #consulting #leadership #communication #culture #compensation #wellness #employeeengagement #cgib Humans serving Humans

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What can investors expect in 2025? Will the U.S. bull market continue its run? Will the headwinds subside for Canada? And what are some key long-term opportunities for investors? Watch the video below for takeaways from our Global Insight 2025 Outlook report.

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Why consider an FHSA if you are planning on buying your first home? A First Home Savings Account (FHSA) is a special savings account to help people save money to buy their first home. ❇️ The money you put into an FHSA can reduce your taxable income, so you might pay less in taxes. ❇️ The money in the account grows without being taxed. ❇️ When you take the money out to buy your first home, you don’t have to pay taxes on it. ❇️ Has contribution limits ($8,000 per year; $40,000 lifetime maximum) ❇️ You can invest the money in your FHSA in things like stocks or bonds to help it grow faster. Feel free to share this post to help others learn about the benefits of using First Home Savings Accounts.

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Condo sales across the GTA and Hamilton area continues to struggle with sales in Q2 down 70% from the 20-year average and 66% from Q2 in 2023. Out of all of the launched presale units in 2Q2024, only 17% sold! Due to the lack of sales, there are now over 25,000 units for sale – it seems sellers have not adjusted their expectations down to where demand sits. There are an estimated 10,000+ units being completed in the second half of this year, adding to the supply-demand imbalance. From the Globe and Mail: “In Toronto, the average price per square foot was $1,529 in the quarter ended in June, according to Urbanation. That is more than double the $606 price per square foot in 2014. In the regions surrounding the city, the average price per square foot was $1,153 in the second quarter of 2024, compared with $484 in 2014.” Would you pay over $800k for a 550-sq. ft. condo? To me, that’s a tough value proposition. If you had 20% to put down on that condo, say you got it for $800k even, your mortgage would be $640,000. At 5%, that puts your monthly payment at over $3,700. Plus condo fees, plus taxes, plus…etc… you’re well over $4,200 per month. Compare that to the average monthly rent of a one-bedroom of ~$2,500. The natural justification is that you’re not building any equity while your rent. Note that almost ¾’s of your mortgage payment goes to interest, not equity, for the first 10-years. For renters, you can take that difference ($4,200 - $2,500 = $1,700/mo.) and save/invest it. This simply suggests that prices at these levels are tilting the math towards renting.

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Thinking of retiring early? Taking CPP before age 65 results in a permanent reduction of your monthly benefits. For every month you take CPP before age 65, your benefits are reduced by 0.6%, which amounts to a 7.2% reduction per year. If you can comfortably support yourself without early CPP benefits, delaying might be beneficial. We can help you assess your current and projected financial needs; there is no one-size-fits-all answer.

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Today we hit the magic number of 370 Canadian Group Insurance Brokers members. A minor milestone, but why is this a magic number? 1. In Astrology, the number is called the "angel" number and is a sign of growth and expansion in your spiritual journey, career, and finances. 2. In Numerology, it gives off an aura of courage, individualism and unyielding nature. An number for which very few goals seem discouraging or formidable. 3. In CGIB, it means you have a community with well over 5,000 years of employee benefits experience to help you on your journey of growth. All 3 meanings sound like our CGIB members. Coincidence? Maybe... If you work in employee benefits and are not a member, Why Not? Find out more at our site here: https://cgib.ca/join-us Want to see first hand how you change the benefits game from being the "cheapest", to being one of the very best? Why not try out one of our events in Calgary, Vancouver or Toronto? https://cgib.ca/events If you're an employer, ask your benefits advisor if they are a member. If they aren't...why aren't they? You can look them up yourself at: https://lnkd.in/gSb7kpkr.

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What makes for a good executor in your will? The default is usually to pick the most convenient person, however this may not always be what is best Here are four things to consider when naming your executor - Availability – can your executor give up a significant amount of their time for up to six months to settle the estate? - Complexity – is the executor able to understand how all of your assets should be transitioned? - Competency – has your executor dealt with finances in the past, and can they quickly pick up the skills they need to make decisions? - Relationships – will your executor be able to deal with the emotional issues around money and not just the numbers? If you need a helpful checklist to facilitate the conversation, comment below or message me directly Comment below with thoughts and questions For more information on these and other planning strategies, please message me separately #willplanning #estateplanning #financialplanning

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This is a hot topic lately as many people's mortgages are up for renewal this year and next. Below we explore how to decide what is right for you. The 1-year and 2-year rates are still quite high, and the difference between 3-5-years isn't all that significant, so the 3-year fixed rate is very popular (I renewed my mortgage a year a go and chose a 3-year). The historical spread between Canadian bank Prime Rate and the Bank of Canada (BoC) overnight rate is 2.20%, as shown in the first graph. It has been lower in the early 2010's, but that's the spread over the past 8-years. Therefore, the variable rate you pay will likely be 2.20% over the overnight rate, hopefully minus some basis points (i.e. Prime - 0.30% as in our second chart). RBC Economics expects the BoC rate to fall to 3% by the third quarter of 2025 then stabilize there for the rest of the year (that's as far as their forecast goes). In the second chart there is some rough math using the spread (2.20% less 0.30%, so an effective spread of 1.90% over the BoC overnight rate) and assuming a 3-year fixed rate of 5.09%. If the BoC holds rates at 3% indefinitely for the full 3-year term (beginning today), then you are better off going for the 3-year fixed rate term. If further cuts into the 2%'s (even just to 2.75% then holds) then the variable rate option looks to be marginally superior. Of course, we can't know what the BoC will do. I personally think that we are in a higher inflation, and therefore interest rate, regime than what we experienced in the 2010's. I do expect rates to come down from current levels but settle at a level higher than what we have grown used to. If you think that has merit, then a 3-year rate looks pretty attractive - even if the BoC does follow the forecast exactly and then settles in the 2%'s, your marginal savings is small, back end loaded, and you get some cash flow relief right now. You also don't have the risk that this is completely wrong and inflation reaccelerates, which looks like it could happen in the US. For me, I'd err on the side of safety for what looks like a marginal difference either way...but the choice is yours.

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Top 10 Reasons Why Owners Fail to Plan for an Exit "Less that 10% of business owners are successful in transitioning out, and with more than 75% of small business owners in Canada reporting that they hope to transition out in the next 8-10 years, it is becoming even more critical that owners get prepared because if they don’t there is high likelihood that that won’t be able to get much for their businesses when they do finally exit. " https://ow.ly/lqXW50Sbn5b Sometimes getting to “DONE” is as simple as coffee & conversation. How about we have a chat… #groupbenefits #employeebenefits #consulting #leadership #communication #culture #compensation #wellness #employeeengagement #cgib Humans serving Humans

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Do your clients want to give back but are unsure where to start? Help them easily integrate giving into their financial plan, build a legacy, and benefit from tax savings with the Mackenzie Charitable Giving Program. https://ow.ly/CHO630sI4us

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"We have an opportunity to be advisors who can quarterback our clients’ lives, I want them to feel they can come to me for any recommendation.” -SS The power of referrals and word-of-mouth can go a long way. Read the full article in The Globe and Mail, covered by Deanne Gage. Link in bio 🔗 • #WomenInWealth #FinancialWellness #MoneyTalk #WomenInFinance #InvestmentAdvisor #FinancialGoals #FinancialPlanning #FinancialAdvisor #EmpowerHerInvestments #InvestmentAdvice #FinancialFreedom #MoneyMindset #PersonalFinance #FinancialIndependence

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Retirement planning is not a one-size-fits-all approach. It's about understanding your goals, resources, and desired outcomes. By leveraging CPP and OAS strategically, we can help you achieve your retirement dreams. #RetirementPlanning #FinancialGoals #CPP #OAs

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🌟 Deciding When to Take Your CPP Benefits? Let's Discuss! 🌟 Many of our clients have been pondering a crucial question regarding their retirement planning: "Should I start taking my CPP benefits early?" It's a question with significant implications for your financial well-being in retirement, and the answer isn't one-size-fits-all. Taking CPP benefits before the age of 65 might be tempting for many, especially if retirement comes earlier than expected or if there are immediate financial needs. However, it's essential to remember that starting your benefits early means they will be reduced by a certain percentage for each month before you turn 65. On the flip side, delaying your CPP benefits beyond the age of 65 can result in an increase in your pension amount. It's a decision that requires a careful assessment of your current financial situation, your health, your retirement goals, and your expected longevity. Here are a few considerations to keep in mind: Your Financial Needs: Evaluate your current and future financial needs. Do you have other sources of retirement income? Your Health and Longevity: Consider your health and family history. Longer life expectancies may favor delaying your CPP benefits. Impact on Your Retirement Lifestyle: How will taking CPP early or delaying it affect your desired retirement lifestyle? Tax Implications: Understand the potential tax implications of starting your CPP benefits at different ages. It's a decision that deserves a thoughtful conversation and personalized advice. For a deeper dive into this topic, reach out to us for a consultation. Your retirement journey is unique, and so should be your CPP benefits strategy. Let's make sure your plan aligns with your life goals and financial objectives. 💼📈🏡 #TWG #thewealthbuildinggroup #yourmoney #RRSP #RetirementPlanning #CPPBenefits #FinancialWellness

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