Kathy Klassen, CGA, CFP offers full financial services, including a wide range of insurance and investment options to meet your current and changing needs. Whether your goals are short term or long term. As a certified financial planner, and 15 years experience as an accountant Kathy is well equipped to help you achieve your objectives for a secure future.
For answers to these questions and other financial matters, see Kathy, your local financial planner.
Located upstairs in the Altona Mall
I believe that getting to know my clients and their financial needs is very important when building a long term working relationship. My clients appreciate and benefit from the tax and accounting experience and knowledge I bring to the table from my fifteen years as an accountant.
I have lived in southern Manitoba my entire life. I currently live in Altona, MB with my husband and 2 teenage children. I enjoy camping, reading, meeting new people and travelling. I recently travelled to Italy, for a once in a life time experience with my daughter.
I graduated in 2003 with my CGA designation, and in 2010 with my CFP designation. Education is very important to me and I continue to stay on top of current events, specifically related to the markets.
For the past several years, I have mentored an internship student, because I believe the younger generation is our future.
Group Insurance:
- Employee Benefits
- Company RRSP/ Pension/ DPSP
SEE MORE
Life Insurance:
- Term Insurance
- Mortgage Insurance
- Permanent Whole Life Insurance
- Universal Life Insurance
Investments:
- Tax Free Savings
- RRSP / RRIF
- RESP
- Non Registered Accounts
- Individual Pension Plans
- RDSP
- Annuities
- GIC
Living Benefits:
- Disability Insurance
- Critical Illness Insurance
- Long Term Care Insurance
- Travel Insurance
Other:
- Retirement Planning
- Estate Planning
Retirement Planning:
- RRSP Calculator
Calculate how much you will need to save between now and the day you retire
- Registered vs. Non-Registered Comparison
Weigh the benefits of registered versus non-registered growth. This calculator can also be used to illustrate the advantages of a Tax-Free Savings Account ( TFSA ) over a regular, non-registered account.
- RRSP Loan Planner
Find out how an RRSP loan could help boost your income at retirement
- RRSP Illustrator
Get a personalized assessment of the tax benefits you gain by investing in your RRSP
- RIF/LIF/LRIF Calculator
Find out how much income your Registered Savings plan will generate in retirement.
Mortgage & Lending:
- Qualifier
Thinking about buying a home but dont know whether you would qualify for a mortgage? Use this calculator to find out how much you could qualify for and what your monthly payments would be.
- Loan Amorization Scheduler
Want to know how much your mortgage will actually cost you? This easy to use tool provides a detailed payment schedule for your mortgage or loan based on the mortgage or loan amount, payment frequency, interest rate and the amortization period information you provide.
Personal Finance:
- Cash Flow Illustrator
The first step in building a wise financial plan is determining your family's income and expenses. This tool makes it easy.
- Net Worth Illustrator
Complete your personal financial picture by pin pointing your personal assets and liabilities
Investment & Saving:
- Regular Deposit
See how your one time investment or regular deposit program will grow over the years.
- Regular Withdrawl
Calculate the regular income stream generated by your non-registered investment.
- Debt Consolidator
Looking to consolidate your high interest debt into one easy to manage payment? This calculator can show you how much you might save by consolidating your debt at a lower interest rate.
- Advantage of Early Investing
Learn the importance of investing early and on a regular basis.
- RESP Calculator
Discover how much your money can grow in an RESP with the added contributions from the Canada Education Savings Grant. This tool also helps you figure out how much you will need to save for your children's education.
Retirement Myths Seminar
Plan to retire in the next 10 years?
Or recently retired?
Then this seminar's for you!
Limited seating, so email/call to RSVP.
Tues, Jan 17, 2012
7pm
Chamber Group Insurance Plan Luncheon
Free Lunch/Presentation on Chamber Group Insurance Plan that is designed for small businesses.
Wed, March 7 2012 _ 12 noon
Limited Seating.
More Info TBA
CLOSED: Dec 26th - 30th
Office Re-opens: Jan 2nd
Ph: 1-204-324-9497
Cell: 1-204-319-0381
Email: kathy_katstrat.com
67-2nd St. NE
Box 157, Altona MB, R0G 0B0
Located Upstairs in the Altona Mall
Monday - Friday:
9:30 am - 4:30 pm
Evenings/Saturday:
Available by appointment
Important Mutual Fund Information
Commissions, trailer fees, management fees and expenses may be associated with mutual fund investing. It is important that any mutual fund investor reads the prospectus before investing to ensure they fully understand the product(s) they are purchasing. Mutual funds are not guaranteed investments and their individual unit value changes frequently. Past performance of any mutual fund may not be repeated.
Portfolio Strategies Corporation (PSC) is a registered Mutual Fund Dealer with several Provincial Securities Commissions and as such PSC representatives are entitled to sell mutual funds and other approved securities related products under this registration. In addition, PSC representatives may provide other non-securities related products and/or services to the public through other entities such as their own trade names or companies. As a member of the Mutual Fund Dealers Association of Canada (MFDA), Portfolio Strategies Corporation is obligated to disclose to you that you may be dealing with companies other than Portfolio Strategies Corporation when purchasing products or services from your PSC representative. Examples of products that your PSC representative (if so qualified) may provide through a separate entity, which would therefore not be the responsibility of Portfolio Strategies Corporation include but are not limited to:
Insurance related products such as: Life, Accident & Sickness, General, and Health and Welfare Trusts
Guaranteed Investment Certificates (GICs), Canada Savings Bonds and other Deposit Instruments
Fee For Service Financial Planning
Estate Planning Services
Tax Return Preparation
Please ensure that you have a clear understanding of which company you are dealing with for each of the products and services you purchase. Your representative or Portfolio Strategies Corporation would be happy to provide clarification if necessary.
The information contained in this website is for Canadian Residents only and does not constitute an offer to sell or solicit business in any jurisdiction (foreign and/or Canadian) where PSC or your PSC Representative is not appropriately registered or qualified to do so. Under no circumstances should the content of this website be considered advice and relied upon as a substitute for consultation with a qualified, financial, tax or legal professional.
E & O.E.
Services
Employee Benefits are various non-wage compensations provided to employees in addition to their normal wages or salaries. Employee benefits in Canada might include additional health coverage that is not included in the provincial plan. Such as medical, prescription, vision and dental plans; Group Disability (WI/LTD), Employee Assistance Plans (EAP), Group Term Life & Accidental Death & Dismemberment, Retirement Benefit Plans, etc.
A Company Registered Retirement Plan works a lot like a regular RRSP. You and/or your employer both put money for your retirement into the plan. Often, the money comes right off your pay so you won't be tempted to spend it first. More or less like a Pension , which is a regular payment made during a person's retirement from an investment fund to which that person or their employer has contributed.
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Want a free, no obligation quote?
Term life insurance is the type of insurance that covers an individual for a certain period of time.
These terms are usually in increments of 10/20/30 year periods, and typically expires at age 85. It pays a benefit to a designated beneficiary when the insured passes away and is the most affordable type of life insurance. The primary purpose of Term life insurance is to provide coverage of financial responsibilities, for the insured. Such responsibilities may include, but are not limited to, consumer debt, dependent care, college education for dependents, funeral costs, and mortgages.
Mortgage Life Insurance is a form of insurance specially designed to protect a repayment mortgage. If the policyholder were to die while the mortgage life insurance was in force, the policy will pay out a capital sum that will be just sufficient to repay the outstanding repayment mortgage.
Watch this short video to learn why typical Mortgage Insurance offered by your lender may not be right for you.
Permanent life insurance remains in force for the whole of the policyholder's lifetime and combine a death benefit with a savings portion. This savings portion can build a cash value - against which the policy owner can borrow funds, or in some cases, the owner can withdraw the cash value to help meet future goals, such as paying for a child's education. To borrow against the savings portion of a permanent life insurance policy, there is usually a waiting period after the purchase of your policy for sufficient cash value to accumulate. The two main types of permanent life insurance are whole and universal life insurance policies.
Life insurance which combines the low-cost protection of term insurance with a savings component that is invested in a tax-deferred account, the cash value of which may be available for a loan to the policyholder. Universal life was created to provide more flexibility than whole life by allowing the holder to shift money between the insurance and savings components of the policy. Additionally, the inner workings of the investment process are openly displayed to the holder, whereas details of whole life investments tend to be quite scarce. Premiums, which are variable, are broken down by the insurance company into insurance and savings. Therefore, the holder can adjust the proportions of the policy based on external conditions. If the savings are earning a poor return, they can be used to pay the premiums instead of injecting more money. If the holder remains insurable, more of the premium can be applied to insurance, increasing the death benefit. Unlike with whole life, the cash value investments grow at a variable rate that is adjusted monthly. There is usually a minimum rate of return. These changes to the interest scheme allow the holder to take advantage of rising interest rates. The danger is that falling interest rates may cause premiums to increase and even cause the policy to lapse if interest can no longer pay a portion of the insurance costs.
An annuity is an investment that pays you a set monthly income for a set period of time. You can even get guaranteed income for life. An annuity works like life insurance in reverse. With life insurance, you pay a certain amount each month over many years so your loved ones will get a lump sum when you die. With an annuity, you pay a lump sum up front, and get income back each month over many years.
A Registered Retirement Savings Plan or RRSP is an account that provides tax benefits for saving for retirement in Canada. RRSP refers to a provision in the Income Tax Act that allows a person to shelter financial property from income taxes.
To fund their retirement, RRSP holders often roll over their RRSPs into an RRIF. RRIF payouts are considered a part of the beneficiary's normal income and are taxed as such by the Canadian Revenue Agency in the year that the beneficiary receives payouts. The organization or company that holds the RRIF is known as the carrier of the plan. Carriers can be insurance companies, banks or any kind of licensed financial intermediary. The Government of Canada is not the carrier for RRIFs; it merely registers them for tax purposes.
An RESP is a Registered Education Savings Plan. With the help of an RESP you, as a parent, friend or family member, can start putting aside money for a child's post-secondary education. Your contributions can grow surprisingly quickly when you use this special savings account, as the Government of Canada offers the Canada Education Savings Grant and the Canada Learning Bond exclusively to RESP subscribers
A type of investment account that allows Canadian citizens to save money for the long term. Non-registered accounts only tax the capital gains realized inside the account at 50% of the accountholder's top marginal tax rate. And unlike RRSPs, non-registered accounts have no contribution limits
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Individual Pension Plans
An Individual Pension Plan or IPP is a Canadian retirement savings vehicle. An IPP is a one-person maximum Defined Benefit Pension Plan (DB Plan) which allows the plan member to yeild retirement income on a tax-deferred basis.
A Registered Disability Savings Plan (RDSP) is a Canadian program designed to enable individuals with disabilities to build wealth and receive matching federal bonds and grants.
It's also a non-tax deductible savings plan administered by a financial institution.
The Tax Free Savings Account (TFSA) is an account that provides tax benefits for saving in Canada. Contributions to a TFSA are not deductible for income tax purposes. Even investment income, including capital gains, earned in a TFSA are not taxed, even when withdrawn.
Introduced by the federal government in 2009, this flexible plan allows saving of after tax dollars without paying any tax on the investment income (interest, capital gains or dividend income) they earn.
GICs play an important role in a balanced portfolio because of the security they offer. GICs provide a secure way to save for short-term goals, like a vacation, or for longer-term plans, like buying a house or retirement. Either way, a GIC is a sound investment option.
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Critical Illness Insurance is a form of health insurance that provides a lump-sum payment should you become seriously ill. Although the types of illnesses covered differ from company to company, typical illnesses may include:
• Cancer
• Heart attack
• Stroke
• Blindness
• Alzheimers
• Multiple sclerosis
• Organ transplants
• Kidney failure
• Paralysis
Coverage can also vary according to the degree of severity of, or conditions associated with, an illness or disease. Coverage cannot be purchased for a pre-existing condition or illness.
Disability Insurance, is a form of insurance that insures the beneficiarys earned income against the risk that disability will make working (and therefore earning) impossible. The purpose of disability insurance is to protect the lifestyle you enjoy. If you were suddenly unable to work and had less money coming in plus additional money going out to cover medical expenses and other bills, disability insurance will help preserve your income.
This type of coverage is crucial for self employed individuals and people who do not have disability insurance through their employer.
Coverage that provides nursing-home care, home-health care, personal or adult day care for individuals 65+ or with a chronic or disabling condition that needs constant supervision. Long Term Care insurance offers more flexibility and options than many public assistance programs.
When traveling, costs associated with unexpected events can be much higher, which poses an increased risk to travelers. Travel insurance attempts to reduce these risks. For example, insurance might cover the higher-than-normal medical expenses in a foreign country, or pay for medical evacuation when necessary
Retirement planning define the plans and actions that individuals take to prepare a smooth transition from a life based mainly around employment to a life based mainly around unemployment.
Retirement planning is especially important for business owners because their retirement is their own responsibility. With no company pension plan as support, their standard of living in retirement is up to them.
The preparation tasks that serve to manage an individual's asset base in the event of their death or incapacitation, including the bequest of assets to heirs and the settlement of estate taxes. (Legal documents such as Wills, Trusts, and POA must be done by a lawyer)
Some of the major estate planning tasks include:
- Creating a will
- Limiting estate taxes by setting up trust accounts in the name of beneficiaries
- Establishing a guardian for living dependents
- Naming an executor of the estate to oversee the terms of the will
- Creating/updating beneficiaries on plans such as life insurance
- Setting up funeral arrangements
- Establishing annual gifting to reduce the taxable estate
- Setting up durable power of attorney (POA) to direct other assets and investments
"Kathy conducted a session with our employees...attendees felt they walked away with a much better understanding of how they could organize and improve their financial situation. "
- Betty
"You have been the best thing that happened to us...and we will be forever grateful"
- Ann
Gather data and clarify your present situation
Identify problem areas, opportunities, goals and objectives. Provide recommendations
Implement the strategies and monitor progress with regular reviews
1-204-324-9497
for your
Mutual Fund Account
© 2010 Kathy Klassen Financial Strategies Corp.
Published by: Jessica Klassen |
