With record high debt levels, Canadians are dedicating a greater percentage of their incomes to servicing mortgages, car loans, and credit card debt despite generational low interest rates. 

 

As the cost of carrying debt continues to rise, families are foregoing education and retirement planning. With the average mortgage spanning twenty to thirty years; it can often delay retirement, as most people begin to save after the mortgage is paid.

Is it possible to have your mortgage paid off in 5 years? 

The average Canadian may have a mortgage or other non-tax deductible debt but can't seem to ever get ahead with the pressures of raising a family today.  Williams, Eley, Ricci (WER) team says financial freedom is not only for the wealthy, it's available to everyone that commits to a strategy.

Most of us have a mortgage or other non-tax deductible debt. The wealthy also have debt.  The difference is, they routinely turn their loans into "good debt" by making the interest tax deductible, with the help of expensive accountants and lawyers. 

Can you ever invest enough into your retirement or child’s education? 

Most of us are not prepared for the biggest single expense in our lives: our retirement. Most people don't have the resources to put away 10 percent of their income and maximize their  allowable RRSP contribution limit each year. 

According to the WER team there is a strategy to put you on the right track to being financially responsible with the freedom you deserve.

• Define a clear picture of your financial situation; debt and assets

• Start to build an investment account today instead of waiting 15 or 20  years

• Build a comprehensive financial roadmap plan with the help of a team of  Professionals.

• Monitor your financial progress on a regular basis. Don’t wait until calamity or tax time to look into your finances.

Joseph R. Bata

Is a member of the Williams/Eley/Ricci Investment Group,

A part of Macquarie Private Wealth Inc.

5500 North Service Road, Suite 500

Burlington, L7L 6W6

Toll Free 1-888-291-3861  Local Calling 289-288-2436

This material is provided for general information and is not to be construed as an offer or solicitation for the sale or purchase of securities mentioned herein.  Every effort has been made to compile this material from reliable sources however no warranty can be made as to its accuracy or completeness. The comments contained herein are general in nature and are not intended to be, nor should be construed to be, legal or tax advice to any particular individual. Accordingly, individuals should consult their own tax advisors for advice with respect to the tax consequences to them, having regard to their own particular circumstances.  Before acting on any of the above, please seek individual financial advice based on your personal circumstances. However, neither the author or Macquarie Private Wealth Inc. (MPW) makes any representation or warranty, expressed or implied, in respect thereof, or takes any responsibility for any errors or omissions which may be contained herein or accepts any liability whatsoever for any loss arising from any use or reliance on this report or its contents. Macquarie Private Wealth Inc. is a member of Canadian Investor Protection Fund and IIROC.