Larry Ross came from a family of entrepreneurs. He inherited a strong work ethic and a taste for doing what he’s really good at on his own terms. But he also witnessed what can happen when a business owner invests everything in their company, thinking it will go on forever. Our team constantly wrestles with entrepreneurs to get them to take money off the table and embrace a plan to care for themselves and their families, because companies don’t always last forever and aren’t always sold for the expected price. We make sure business owners know what they need to think about, and that they put the right plans in place.
Professionals such as doctors, lawyers, dentists and company owners need to be business-minded, so Larry designed the Platinum PensionTM. Regrettably, half of most people’s RRSP goes to the government when they die. But a Platinum Pension provides you with a guaranteed pension that is refunded to your beneficiaries upon your death. You essentially rob the tax man and leave your hard-earned money to family instead. If you invest into a Platinum Pension in conjunction with your own corporation, you can further increase your tax advantage with the use of an Individual Pension Plan (IPP), so you are getting a larger pension plan and your estate draws money from your corporation tax-free. This secures an extra kick for your beneficiaries. The key is thinking about this early enough. Ask us for more information.