Our team of professionals at WhiteWater Financial ensures that the wealth accumulated in your individual or business portfolio remains in your hands and for future generations.
Tax Planning
We can help you make financial decisions effectively, to minimize your taxes. For business owners, the challenge is tax efficiency. Questions such as “I have retained earnings inside my corporation, how do I access this money in the most tax-efficient way possible?” or “How do I get my surplus money working for me?”
We provide strategies to reduce taxes, utilizing life insurance, critical illness insurance, tax-efficient investing, and integrated personal and corporate planning.
Risk Management
Risk management isn’t just for large companies – it is an integral part of planning for everyone! Of course, you can’t prepare for every unexpected event, but you can do your best to be financially prepared for it.
We can discuss different types of insurance with you, such as disability, critical illness, and life insurance, to provide you, your family, or your business, with the proper protection.
Estate Planning
Estate planning is a must no matter what stage of life you’re at. We can help you make a list of your assets and liabilities, talk to you about how to choose an executor, and figure out the best way to minimize the impact of taxes on your estate. Some strategies to reduce taxes include considering trusts and estate freezes. We also review what the options are to pay for final taxes, including life insurance, borrowing, or saving up.
Estate planning can also include essential steps, like setting up power of attorney for your finances and your health; and assigning a guardian for your minor children. For business owners, we talk about succession planning and how to transfer your business’s ownership, management, and interest. Our discussion will include determining your objectives and the most effective strategies to achieve your goals.
Investment Planning
There’s no one-size-fits-all planning approach when it comes to investment planning. Instead, the type of investment that works best for you depends on what you are saving for, how soon you will need your money, and what level of risk you are comfortable with!
We can help set you up in investments that fit your time horizon and risk level. We’ll also talk to you about which tax-advantaged savings vehicles such as Registered Retirement Savings Plans (RRSP), Tax-Free Savings Account (TFSA), Registered Education Savings Plan (RESP), Registered Disability Savings Plan (RDSP), and Registered Retirement Income Funds (RRIF) make the most sense for your unique situation.
Retirement Planning
Many people put off planning for retirement because it can seem overwhelming. We walk you through everything you need to know, including the types of insurance you may need to purchase and how much you can expect to bring in via your savings (RRSP, TFSA, Non-registered investments), company pension and government income sources (Canada Pension Plan, Old Age Security). We can also talk to you about the best way to handle debt and significant assets such as your home during your retirement years.
If you run a business, you have access to additional strategies such as an Individual Pension Plan (IPP), setting up a Registered Pension Plan or leveraged life insurance to supplement your lifestyle during retirement.