A Registered Retirement Savings Plan is a great benefit to offer your employees. Get to know the basics as you read below: Definition of 'Registered Retirement Savings Plan - RRSP' A legal trust registered with the Canada Revenue Agency and used to save for retirement. RRSP contributions are tax deductible and taxes are deferred until the money is withdrawn. An RRSP can contain stocks, bonds, mutual funds, GICs, contracts and even mortgage-backed equity. Source: Investopedia What’s the best way to invest in my RRSP: Should I buy stocks, mutual funds or ETFs? It all comes down to what kind of investor…//Read More
Reading all the terminologies within a life insurance policy can easily become confusing. Make sure that you understand the details of your policy before signing up by knowing the following terms: Accelerated death benefit This policy feature allows you to receive some of the life insurance payout early if you are terminally ill. Some insurers now call this a “living benefit.” It’s usually a free feature, so make sure your policy has it. Source: NerdWallet Term life insurance A type of policy that only gives you coverage for a limited period of time, generally from…//Read More
Having a high employee retention rate is good for a business. Keeping your best employees ensures that you will continuously meet or even exceed your sales targets — which you might not be able to do if you are constantly dealing with new employees that require training. To stop worrying about resignations, ensure that you offer the following: Opportunity to grow Humans have a fundamental need to self-actualize. The more your company offers people the chance to improve themselves, the better. Would you choose a job that leads to nowhere? Of course not. With opportunity comes autonomy because the…//Read More
One of the key ingredients to the success of your business lies in finding the best people to work for you. Learn how employee benefits can help your company find (and keep) the cream of the crop as you continue reading this article: Attracting the best and the brightest is easier than ever It’s no secret that younger generations of workers, like millennials and Generation Z, have different workplace values than older generations. Some of their differing needs include workplace mentorship, frequent feedback and flexible hours. But did you know that a good chunk of millennials…//Read More
Life is full of uncertainties and nobody knows when their journey will end, which is why the security brought by a life insurance plan is important. Here are more reasons to be insured: Providing for your dependents Let's start with the most obvious reason for why someone should invest in life insurance ... the fact that it can replace your income if you die before your dependents. You may want your children to go to college and your family to enjoy a certain kind of lifestyle. Likely, you still want this to happen even if…//Read More
These articles are not intended to dispense legal advice and should not be taken as such. You are advised to obtain legal counsel if required to address areas of concern this article may have raised. The goal of these articles has been to draw your attention to an aspect of your business which may currently be neglected.
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