DANIEL ENAYATZADEH FINANCIAL SECURITY ADVISOR
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HOW MUCH LIFE INSURANCE DO YOU NEED?

11/29/2016

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By: Daniel Enayatzadeh

Life insurance needs are typically divided into two segments: short term needs and long term needs. An example of a short term need is coverage to protect any debt you’re currently carrying, like a mortgage for example. People often insure themselves for the value of their mortgage so in the event of their death, their loved ones are not burdened with the responsibility of paying off the mortgage. Another example of a short term need is money for your partner. Whether it be a romantic relationship or a business one, the death of either partners can have a significant impact on the survivor’s ability to maintain their lifestyle or to maintain the business. Having money assigned through a life insurance policy provides a much needed parachute during what is usually one of the most challenging moments in someone’s life.

A long term insurance need can be a legacy gift you’d like to provide to an organization that is dear to you.

There isn’t a quick answer to how much life insurance someone requires or what type of life insurance product is appropriate. Whether it’s for long term or short term needs, your insurance needs are established after we’ve undergone a detailed assessment of your personal and financial situation.
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Daniel Enayatzadeh is a Financial Security Advisor specializing in investment and insurance planning. He can be reached at 514-996-9400 or at [email protected] ​


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13 WAYS TO SAVE MONEY EVERY MONTH!

11/14/2016

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By: Daniel Enayatzadeh

​Most of us would like to save money at the end of the month. The following is a list of tips I’ve put together.
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  • Before buying something new, ask yourself: Is this a need or a want? If you don’t need it, wait a few days and reevaluate. 
  • When you’re out, carry portable snacks, like vegetables or granola bars to avoid buying food impulsively.
  • Do your grocery shopping with a list, and stick to it.
  • Use cash more often than plastic. Studies show we spend less when we use cash.
  • Track your expenses for a few weeks, try to identify wasteful spending trends.
  • Evaluate any subscriptions or memberships you don’t really need.
  • Look out for sales and buy in bulk.
  • Explore generic brands.
  • Incorporate more vegan meals into your diet.
  • Create a plan to eliminate any credit card debt.
  • Review your insurance policies.
  • Have something lying around that you don't need? Sell it!
  • Don’t be afraid to ask a friend for advice on how they save money.​

​How do YOU save money? Include your tips in the comments! 

Daniel Enayatzadeh is a Financial Security Advisor specializing in investment and insurance planning. He can be reached at 514-996-9400 or at [email protected] ​
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YOUR VERY LAST RRSP CONTRIBUTION

11/7/2016

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By: Daniel Enayatzadeh

Most people fail to realize that the tax deduction you receive from contributing to your RRSP can be carried forward to later in life, even when you’re no longer eligible to contribute. Age 71 is the final year in which you can contribute to an RRSP and receive a deduction. Therefore, this final year can be utilized to lower your income later in retirement and by consequence reducing the potential clawback of government benefits, like Old Age Security.  

If you are approaching age 71 and will be shutting down your RRSP for good, it's advisable to consult with your financial and tax professionals to inquire if this strategy is right for you.

Your final RRSP contribution must be made by December 31st of the year you turn 71. 

Daniel Enayatzadeh is a Financial Security Advisor specializing in investment and insurance planning. He can be reached at 514-996-9400 or at [email protected] ​
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