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Charles Funk
Shelley Qually
Jordan Tanner, B.Mgt, RHU

Tel: 403-331-2031

Address
606 - 4th Avenue South
Lethbridge, AB
T1J 0N7
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Financial Planning

Charting Your Course To Financial Success

In the future, no matter what your retirement dream looks like, it takes careful planning to turn that dream into a reality.

While no one can predict the future, BMO Nesbitt Burns sophisticated planning software helps make it clearer. You can see the effects of inflation and taxes on your retirement income, the impact of eliminating the government pension plans, or how much money you'll need to save. Our estate planning helps by integrating the many elements that affect retirement income, BMO Nesbitt Burns Naviplan allows you to review your options and make informed decisions.

Whether you want to ensure that your asset mix is appropriate or plan for a prosperous retirement, BMO Nesbitt Burns sophisticated planning software has been designed to help you chart your course to financial success. It recognizes that, like you, the path you chooose to reach your future destination will be unique.

Education Planning

In our ever-changing world, a post-secondary education is your child’s best defence against an uncertain future. While a post-secondary education is a valuable personal asset, it is expensive to acquire.

How expensive? Education costs will vary considerably depending on factors such as where your child will live, the university chosen, the degree sought and the program (i.e. medicine) selected.

A recent BMO Nesbitt Burns survey showed that the average cost of tuition, room and board for a full-time student is approximately $10,500 per year. Transportation and the cost of books increase the price even further. Since 1987, education costs have been rising by almost five per cent annually while the overall inflation rate has averaged only three per cent. If these trends continue, a newborn’s four-year university degree could easily exceed $75,000 assuming a three per cent inflation rate and over $100,000 if education costs continue to rise at five per cent annually – and you can double that amount if you’re considering a school in the U.S.

As the cost of a post-secondary education steadily increases, many parents are looking for ways to fund their children's future education needs. Fortunately, with a comprehensive education plan and an early start, a university education can be a reality for your children. Using our sophisticated planning software your Investment Advisor can create a customized education analysis that will help you estimate the future costs of your child’s post-secondary education. Once the education funding goal has been quantified, your Investment Advisor will work with you to develop a plan to reach your education goals.

One of the best ways to save for education is through a Registered Education Savings Plan (RESP). An RESP is a tax-deferral savings plan that allows you to contribute up to $4,000 per child, per year, to a lifetime maximum of $42,000. The earnings accumulate tax-deferred while in the plan and the contributions are eligible for the Canada Education Savings Grant (CESG) of up to $400 per year for most beneficiaries.

As we enter the 21st century, it’s clear a post-secondary education will be required if your child wants to find a fulfilling and rewarding career. With the need to meet these future expenditures, it’s easy to see why saving for a child’s post-secondary schooling is a major financial objective for most parents.

At BMO Nesbitt Burns, our experience has shown that a dedicated savings strategy, that includes a Registered Education Savings Plan (RESP), has proven to offer the greatest assurance that the money will be there when it's needed.

Retirement Planning

Do you have a clear picture of where you want to be when you retire? Is it playing golf every day in a warm, sunny climate? Travelling and enjoying the wonders of the world? Perhaps running your own small consulting business? No matter what your retirement dream looks like, it takes careful planning to turn that dream into a reality.

Using our sophisticated planning software your Investment Advisor can create a retirement analysis that is customized to reflect your current circumstances, anticipated savings rate and investment objectives.

Our planning software takes into account all of your current and future sources of income, including government programs, company pension plans, RRSPs, employment and investment income, then factors in inflation and current tax rates.

Taking a look at your expected expenses as well as all of your future sources of retirement income allows you to see if there will be a shortfall between the lifestyle you want and your financial ability to maintain it. Your Investment Advisor will then work with you to develop a strategy to help eliminate any shortfalls so you can achieve your retirement goals.

Interested in RRSPs?

As part of your retirement strategy, your Investment Advisor will assess how you can benefit from registered savings plans, such as RRSPs, and whether or not your accounts are structured so you can take maximum advantage of the tax-deferred savings they offer. Whether you're looking for details on the benefits of an RRSP, information on deduction limits and contributions (including RRSP loans), or some interesting RRSP tips, you'll find the resources you need in your BMO Nesbitt Burns' Investment Advisor.