Fred Snyder - Why a Financial Planner?
Wednesday, September 23 2009 @ 09:00 PM PDT
David Ingram and Fred Snyder discuss several scenarios of investment for long-term income streams with minimal tax and "claw-back" exposure
Insurance as an option to an otherwise standardized investment for an income stream - where the taxable income is as little as 10% of the actual monthly stream allowing minimal taxation and keeping overall income below the level that other government pension and security payments would otherwise be clawed back at.
Using your RRSP to make your mortgage tax deductible. There are many ways to use your current investments to make your otherwise non-tax deductible personal mortgage into a fully tax deductible investment mortgage. Using rental property income to do this is also discussed.
Discussion of disparity between income from investment in bonds and investment in mutual funds or other securities. People lose sight of the fact that by bond maturity they've paid tax on the interest income. "Salary and interest income are the two worst kinds of income to have" says Fred. David says "But you should make sure you take enough salary out to qualify for the maxiumy Canada Pension payout."
"You should have a large amount of money that is not in your RRSP" - Fred. "Every time I did up a pension plan, the people made more money with their investments outside their RRSP than in" - David
Income Exposure Control - at age 71 you have to withdraw money from your RRSP regardless of other pension income - so you end up with too much income, don't qualify for CPP and end up getting OAS clawed back. There has to be a better way - and there is.
Lots of great information in this interview
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You can contact Fred Snyder at: www.mutualfund101.com or ItsYourMoneyRadio.CA Telephone: (604) 731-8900 FAX: (604) 731 -1242 Private FAX: (604) 929-4706 Cellular: (604) 644-PLAN Location: 1764 West 7th Avenue |
presents free Financial Seminars for his clients, potential clients and anyone who phones and asks to attend.
THERE is NO CHARGE! (I used to charge up to $999.00 for essentially the same thing)
AND - NO ONE'S ARM IS TWISTED TO BUY SOMETHING.
They are presented at various locations including the Dundee Boardroom (holds about 30 people max)
1764 West 7th
Vancouver, BC
phone (604) 731-8900 - ask for Freda for specific date/location informatino and to register for free.
These are genuine educational seminars dealing with everything from how to buy a house to making your mortgage tax deductible to buying an RRSP to alternatives to RRSP accounts to estate planning. So what started as 13 separate seminars has now evolved into 23 separate topics.
IT IS NOT UNUSUAL FOR PEOPLE TO COME TO ALL OF THEM.
ONE LADY CAME TO 53 separate seminars and her husband came to about 20 with her.
If you have a financial consultant, bring them. People have brought their bankers and life insurance agents with them.
Take your spouse, your best friend, your son, your daughter, your mother or your worst enemy But do phone 604-731-8900
Fred Snyder also is the host of ITS YOUR MONEY every Sunday morning on CISL (650 on AM dial) from 9:00 to 10:30. This is a phone in financial show which I appear as a guest on the first Sunday of every month. You can listen to the program live around the world every Sunday morning on/at www.am650radio.com. We have taken calls from around the world. In one case, a lady phoned from Florida, got her answer and then asked if I was the David ingram she knew in Regina back in 1959. Small world as they say.
Call (604) 280-0650 with your question on Sunday Morning from 9 AM to 10:30.
"IT'S YOUR MONEY" also appears in a different version LIVE on CKNW Sundays from 5 PM to 6 PM as a phone in show to answer your questions. Call (604) 280-9898 or 1-877-399-9898 or *9898 on your cell to get your question on the air. I am a guest on the first Sunday of each month as above.
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