How to Pay Off Your Debts?

What can you do when there is nothing more you can do to take charge of your debts?


One of the most significant stressors in our daily lives is the feeling of being overburdened with debts. Blair Mantina Licensed Insolvent Trustee with Sands and Associates, tells us in our video interview that most people wait too long to seek proper help because don’t they don’t know what is available to help them.

In our latest “Street Smarts With Taayla” episode, we are getting to you the right information on what it means to file bankruptcy and whether that option is right for you. We had to the chance to ask Blair some burning questions when it comes to filing for bankruptcy and what are the options.


Go straight to the video for the full scoop on what is to file bankruptcy and what other options you can explore before then. In this next section, we give you some main points we collected from our interview but I promise you, the video is worth your time to check out. 😊

Our Q&A with Blair Mantin 


What is a Licensed Insolvent Trustee?

Previously known as a Bankruptcy Trustee, they are authorized by the Canadian Government to help you restructure your debts through either a personal Bankruptcy or Consumer Proposal. Their end goal is to get you to a place of having no debts.

How bad does it have to get before someone comes to see you?

Some examples of the typical warning signs:

  • Many collection calls at your home or work and garnishing* of wages.
  • You make your payments and find that you are still not getting ahead each month.

*Garnishing is when someone is taking something from you. So, if you owe the government or credit card company an amount of money and they sue you. They are eligible to take up to half your income.

Is there a required debt limit to consult with a Licensed Insolvent Trustee? 

There is a minimum of $1000, but that is an outdated amount. The average person that would walk through the door have between $20,000 to $40,000 of debts they are struggling with, but it could go into the millions. The deciding factor is, can you handle it? In one or two years from now, will your situation get better? If the answers are no, it’s a good indicator that you should seek help.

What is the difference between a Bankruptcy and Consumer Proposal? 

They are both only available through a Licensed Insolvent Trustee, and they both protect from your creditors.

In a bankruptcy, you can’t pay back any of your debts and what you pay is really to cover the cost of filing. In a consumer proposal, negotiating a deal with the creditors is based on what you can afford to pay back. With a consumer proposal, it’s more of a win/win situation. The creditors get to recover some of the money, and the person pays back a small percent (such as 20-30% of the balance ), and it has less of a sting on their credit score.

How does a bankruptcy or a consumer proposal affect your credit?   

Bankruptcy usually takes nine months to a year and a half to complete. It gives you an R9 rating (credit rating is from R1 to R9) on your credit report and can impact you for six more years after it is over. However, it is possible to start rebuilding your credit within a couple of years.

A consumer proposal is less severe on your credit with an R7, and the rating stays for three years after the plan has been paid. Depending on what the negotiations, it could take two to three years to complete the consumer proposal, and then you tack on three years for the rating impact.

What is the difference between working with a Credit Counselor and a Licensed Insolvent Trustee?

Credit Counselor cannot make a consumer proposal for their clients. They are more about teaching you the soft skills to manage debts. They may be able to negotiate a break on the interest with the creditors, but the payment is in full. With a consumer proposal, there is automatically no interest, and you pay back the negotiated percentage of the total debt.

How are fees structured?

A complimentary initial consultation is where you can review your position with the Trustee and understand your options. All fees are transparent and put together into the payment plan of either the bankruptcy or consumer proposal payments that you can afford. You can necessarily view it as the creditors are paying for the cost of the Trustee.

What is a summary of the negative or positive impacts of filing for bankruptcy?

  • The Negative – your credit will be affected, and that can be for five to seven years. And you can’t be a director of a corporation and also file for bankruptcy on the business side.
  • The Positive – imagine a life without debts. The Trustee is there to handle the creditors for you.

How to get more information?

To contact Blair Mantin, email at

He also hosts a radio show called Dollar and Sense:


Thank you for taking the time to join me on Street Smarts with Taayla in this new episode of dealing with debts. I learned a lot from talking with Blain on this matter, and I am so happy to have this platform to share it with you. Please take a few minutes to give me your comments about this video and others so I may serve you better with materials that matter to you. If you want to watch my video on credit card debt and how to pay it off faster click here.


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Leaving Your Legacy - Street Smarts with Taayla

Leaving Your Legacy

How Do You Leave a Financial Legacy for Your Family?

A legacy often seems to imply something grand, like a charitable foundation or our name on an important public building. But for most of us, our legacy will be small, intimate, and priceless to those we love.

When I think of a legacy, I think of the intangible things that my parents left me. It’s the small, personal things, like how I sound like my mom when I say “hello”; how my brother looks more like my dad with every passing day; and how my sisters have my mom’s calm demeanour.

Life insurance as a legacy: protecting your family in the event of untimely death.

My parents taught me the value of hard work with the way they lived and the decisions they made. They moved to a new country for better opportunities and though they didn’t know about insurance when they first arrived in Canada, they were concerned about their family should something happen to either of them.  A financial advisor gave them life insurance options to address that need to provide for my siblings and I in the event of their death.

My parents’ reason for holding a life insurance policy was to help their loved ones and protect us not only from the loss of their income, but the loss of lifestyle and financial security in the event of their untimely passing. This is the primary reason why anyone would hold an insurance policy or other investment with a death benefit: You have the privilege to create a layer of protection for those you love.

Their forethought and future planning made a difference in our lives that carries on to this day. The proceeds of their insurance policy were important to building our futures, and we remember the sacrifices they made to make that possible. That is one part of their legacy to us.

Life insurance options tailored to your needs?

Think of the essential people in your life; the people that you love the most. With Mother’s Day approaching this Sunday, our families and children are forefront in our minds! Protecting them and their future can be as simple as a life insurance policy or as complex as a family trust. There are different options to implement your financial legacy, no matter what your economic means are.

If you live in British Columbia and have a question about this or other financial matters, you can always connect directly with me via email. Otherwise, feel free to leave your investment questions in the comments below!

This content was prepared by Taayla Mark, a Certified Financial Planner with Engrace Financial Solutions Inc. This information has been obtained from sources we believe are reliable, but is not guaranteed and may be incomplete.

Please note the information contained herein is not tailored to any one individual and is general in nature. For specific recommendations, please consult directly with Taayla Mark.

Segregated funds: Invest money with more safety

We talked about mutual funds in our last video.

This time, let’s learn about segregated funds, which are like mutual funds except the principal investment is guaranteed. This is a lesser known product to it’s more popular cousin, the mutual fund. In the latest Street Smarts with Taayla video, we talk about segregated funds, their key differences to mutual funds, and why you could choose one type of investment over the other.

An investment with protection

Segregated funds contain many of the same elements of a mutual fund; stocks, bonds, and other financial instruments. They’re held as a single investment fund and managed by a portfolio manager at a professional investment company.

As the holder of a segregated fund contract, you are able to take advantage of a diverse portfolio of investment options that you would be unlikely to get on your own.

Segregated funds are an insurance product

For some segregated funds, a mutual fund is the underlying investment. The use of the fund is given to an insurance company and converted to a “seg fund.” Depending on the contract and the fund, the guaranteed return of principal upon maturity is normally 75% and could go up to 100%.

As an example, if you invested $100,000 into a segregated fund and at the end of the maturity period the market value is $50,000, the guarantee means you can collect $75,000 or $100,000. If the market value is $120,000, you would receive $120,000.

Guaranteed death benefit

This fund also has a death benefit of paying out the principal investment to the designated beneficiary without penalty if the investor dies before the contract lock-in period expires.

If the balance of the account is higher than than principal investment, the beneficiary would receive that amount. Again, the benefit payout depends on the contracted guarantee return; sometimes this is 75% but 100% is most common.

Segregated funds also skip the probate process and won’t incur any fees related to the settling of an estate.

Many funds also allow for a “reset option”. If in time your initial investment has increased, you may have the option to realize those gains by locking the new value as your principal investment. We recommend caution in using this option, as resetting the investment amount may also mean resetting the contract to a new 10 to 15-year term. The contract period is important only if you’re waiting to collect the 75% or 100% guaranteed principal.

Creditor protection

Another bonus with segregated funds is creditor protection. Depending on the circumstances of how the contract was purchased, investment in a segregated fund could be excluded from bankruptcy filings. The beneficiary of the fund has to be a spouse or your child to qualify for creditor protection. Also, the Canada Revenue Agency can seek to overturn this protection under limited circumstances.

The primary downside to segregated funds as an investment is the higher management fees because of the guaranteed investment.

Contact me or your registered advisor for a comparison of fees and risk to help you decide if a segregated fund is the best fit for your investment goals. Leave a comment below and tell me about your financial or investment questions. If you live in British Columbia, and have a question about this topic or on other financial matters, you can connect directly with me via email.


This content was prepared by Taayla Mark, a Financial Advisor with Engrace Financial Solutions Inc. This information has been obtained from sources we believe are reliable but is not guaranteed and may be incomplete.

Please note the information contained herein is not tailored to any one individual and is general in nature. For specific recommendation please consult directly with Taayla Mark.

Street Smarts with Taayla - How to invest your money

Getting Started with Investing

If you’re new to investing, then you’re in the right place.

Let’s learn about financial matters that relate to our day-to-day lives, and prepare for the bright future ahead. In the latest Street Smarts with Taayla video, we’ll get you started with a few investment basics.

Conservative and risky investments

When you are looking for investments to grow your money, there are many options to consider. On one hand, you could choose a safe, conservative investment approach with GICs, Guaranteed Interest Certificates. Or, you could choose a strategy that’s more risky, with potential for a bigger payoff: investing in securities, or the buying and selling of individual stocks.

While GICs are guaranteed to protect your investment, the payoff is usually limited. Plus, if your savings aren’t keeping up with inflation, you’re actually losing money because you’re losing that spending power!

However, individual stocks represent company ownership, and the whims of that stock can dramatically jump or fall in value within a short period. You’re at the mercy of a volatile market, and chances are, by the time you hear news about your investment, it will be too late to act effectively.

Not sure which to choose? Maybe you’re like Goldilocks, and the best fit for you is somewhere in between these two options: mutual funds.

Mutual fund investments

In terms of risk, a mutual fund is a middle ground between investments in GICs and investments in stocks. They’re an assembly of stocks, bonds, and other instruments gathered under one umbrella to be managed by a portfolio manager within a professional investment company.

You, as the unit holder, share the buying power of the fund, while also receiving diversification in ways that you would normally be unable to get alone.

Mutual funds are a great option for those who want to adjust the risk, and payoff, of their investment as they go. Since there are no protections like with GICs, you can still lose money, but the risk is mitigated through the fund’s diversity.

With this investment, you rely on the experience and insight of the portfolio manager to buy and sell within the fund. Ideally, you should know who this person is, and understand their background, style, and history in the industry. While it’s your responsibility to research the mutual funds, it can be intimidating to analyze the 20,000-plus different funds available in Canada.

Where to go for help with your investments

You might receive advice from your neighbour or uncle, or overhear your coworker bragging about his successful investments, but it’s wise to find someone who will look out for you with their knowledge and expertise: a financial advisor.

To find a financial advisor, you can start with your bank. While financial advisors are easily accessible, those inside a bank are usually limited in the funds they can offer. But if you plan to invest more than $250,000, you may get access to the upper echelon of bank advisors who can provide better service with more options.

An alternative solution would be to find a financial advisor who is also a broker. These advisors are independent, and have access to the majority of mutual funds on the market. They tend to focus on fund companies they work with or are most knowledgeable of. Due to their wealth of knowledge, these brokers will be able to explain in depth the credentials of the mutual funds they are recommending and why they are the best fit for you.

Finding the right support takes time and patience. It’s OK to meet with multiple professionals; in fact, it’s encouraged! You should weigh your options and see which styles and personalities of the advisor best fit your needs. Prepare a list of questions to ask each of them, and compare their answers. Make sure they clearly explain how their fees are set up and how their practice is structured.

Look for someone that listens to you, respects your wishes, and explains things in a way that makes sense for you. Clear communication is essential to your success.

With proper guidance and clear communication, getting started in your investment journey is much easier than you might believe.

Thank you for following along as we break down the steps for getting started with investing. Get in touch with me in the comments section or directly through email. I would love to be a resource for you and be a part of your financial advising team.

Please make sure to like and share my video, and subscribe to my channel if you have yet to do so. That way, I can get new exciting topics to you each month!

CANADIAN TAX: Basics to Paying Less with Jan Mark, CPA

Benjamin Franklin once said, “In this world, nothing is for certain except for death and taxes.”

In a previous video, we talked about being financially prepared in the event of a death, but in my latest Street Smarts with Taayla episode, we’ll talk some Canadian tax basics.

Taxes are a subject that none of us want to talk about, but with these tips, we can get through it together.

How does Canada’s graduated income tax system work?

In Canada, we have a graduated income tax system, which means that the more money you earn, the more taxes you pay.

Income taxes consist of two parts: the federal tax, which is the same for everyone, and the provincial tax, which depends on where you live.

To determine the taxes you would be paying on your income at different levels and brackets, you can use the marginal tax rate.

At the lowest income level or bracket, you pay $0 in taxes because your income is below what’s called the “personal amount.”

Think of a high school student working a part-time job and making less than $11,000 per year.

For 2018, in British Columbia, a combined marginal tax rate for federal and provincial taxes is just above 20 percent. That means, for every dollar this high school student earns above the personal amount, they have to pay 20 cents to the Canada Revenue Agency in tax. That tax rate is applied until their income climbs up to the next income bracket, where a new tax rate for their new bracket is then applied.

The highest combined federal and provincial tax rate in British Columbia is currently 49.8 percent for those in an income bracket of over $200,000 per year.

However, there are a few different methods we can use to offset the taxes we pay as our income grows.

For my latest video, I interview Jan Mark, a reputable CPA with Mark & Tsang Chartered Professional Accountants, to hear her tax preparation tips. Read Jan’s advice below, and watch the video for the full interview.

What are some common tax preparation mistakes that you see?

One of the most common mistakes is in regards to foreign asset reporting. Most people are just confused about what that means, and when to report it. Basically, if your foreign asset is costing you more than $100,000, you will have to report it. Foreign assets that you own outside of Canada, such as a bank account or vacation property, will have to be reported.

What is the difference between a tax deduction and a tax credit?

A tax deduction is a reduction against taxable income. The amount of savings that you receive will depend on your personal marginal tax rate. For example, a $1,000 deduction with a 30 percent margin, will give you $300 in tax savings.

A tax credit, on the other hand, is a dollar-for-dollar reduction against the tax liability you owe. For example, if you receive a $1,000 tax credit, you will get the $1,000 directly against the tax that you owe.

Is there a “superhero” tax credit?

Yes! Charitable donations in Canada give you a pretty good tax credit. For any donations you make to charitable organizations, for the first $200, the credit you get will be for the lowest marginal rate. Anything after that will be for the highest marginal rate; for 2018, that’s close to 50 percent. For example, if you make $1,000 in donations, the amount you will receive in tax credits will be around $400.

What is the typical tax deduction available for employees?

For employees, the tax deduction is quite limited. The most typical deduction is for an RRSP or the Registered Retirement Savings Program.

Due to the restrictions in having an RRSP, what would be an optimal income level for one to start at?

It depends on the individual’s tax situation and on the retirement tax rate at the retirement age. It also depends on the individual’s discipline to save or not. RRSP is a program put in place by the government to defer your current income and pay tax into the future. In my opinion, any time you have the opportunity to defer tax, you should.

You can learn more about RRSP in our last video!

How else can we take advantage of tax deductions?

The tax deduction for employees is limited. But if you’re self-employed, a lot more deductions are available to offset against the business income. For example, any rent or upgrades to your business space or home office, wages paid to your employees, office supplies, transportation costs, or even meal you took your clients to, are all deductible against your business income.

A big thanks to Jan from Mark & Tsang Chartered Professional Accountants for joining us in my latest video to provide insight on how to prepare our taxes effectively. If you have further questions for Jan, you can set up a consultation with her at and she’ll work to find the best solution for you.

Don’t be discouraged by our tax system. In future videos, we will continue to expand on how we can best manage (and minimize!) our taxes so you can keep more of what you make.

Thank you for reading along in my latest post. I hope these tax tips are helpful for you as you file your taxes this year, and if you have questions regarding your finances for the future, I’d love to help!

Please like and share my videos, it lets me know when I’m doing things right! If you have not subscribed to my channel, please do so now and I will bring more segments and topics to you each month.


Is RRSP right for YOU?

Are you thinking about your retirement and wondering if an RRSP is right for you? In the latest Street Smarts with Taayla video, we’ll dig deeper into this question and find a solution that works for you.

What is an RRSP?

If you’re unfamiliar with or new to RRSPs, you’re not alone! An RRSP, or Registered Retirement Savings Plan, is one of the most commonly misunderstood types of investment accounts.

My clients will ask me if an RRSP is right for them, and as much as I’d like to give a simple “yes” or “no,” I usually tell them it depends — because it does!

How to know if an RRSP is right for you

Before I can know if an RRSP is the right choice for you, I need to know five key things about you: your age, income, first home, education, and emergency funds.

When to take advantage of RRSP savings

An RRSP can be an excellent tax savings and a great way to save for retirement. However, if you’re under the age of 30, chances are you’re not at an income state where you can best take advantage of the RRSP savings.


Because when you make less money, you’re also paying little to no income taxes. If you wait until your earning increases before you contribute to your RRSP, then the potential to save on your taxes could be higher than they are now.

While I don’t usually recommended having an RRSP for incomes under $50,000, if you do decide to contribute to one, you don’t have to claim the plan on your taxes for the current year — you can carry it forward indefinitely.

For example, if your income is $20,000 today, and you believe your income will continue to increase over time, then start saving in your RRSP today. Just make sure to wait until you are at a higher marginal tax rate before you apply your RRSP against your income, whether that’s next year or somewhere down the road.

How to use an RRSP to reach your goals

In my previous video on RRSPs, I talk about how you could use your RRSP toward the down-payment of your first home, or toward the cost of a full-time education. While RRSPs are an investment account for your retirement, there are many benefits to utilizing your RRSP sooner rather than later.

If you’re looking to buy your first home, or want to pursue higher education, then go back and watch how RRSP can help you achieve these goals.

When to prioritize an RRSP

The last thing to consider when deciding if an RRSP is right for you, is the status of your emergency fund. If you have little to no emergency fund, then establishing a solid fund should be your first priority!

Fill your emergency fund before your RRSP, because an RRSP cannot protect you quite like an emergency fund can. While you can withdraw money from your RRSP, there are tax consequences for doing so.

I recommend to my clients to keep an emergency fund worth at least three months of their salary — ideally six months.

Let’s think about this scenario: you have accumulated $30,000 in your RRSP and now you have an emergency where you need cash quickly. You decide to take out the $30,000, but what you don’t realize is that when you do that, 30 percent is being withheld. Now you only have $21,000 you can use!

You would then have to include the $30,000 withdrawal from your RRSP in your income taxes for the year. So if your standard income for the year was, say, $50,000, and you added the $30,000 to that, your income tax return would then be based off $80,000 — a much higher marginal tax rate.

RRSPs are meant to be withdrawn from strategically, and in emergency, you don’t have time to plan for that.

Thank you for reading along in my latest post. I hope this dive into RRSPs has been helpful in allowing you to decide whether or not an RRSP is right for you.

Ask me questions in the comments section below, and let me know what other savings vehicle you are using for your retirement. I’d love to learn more!

Please like and share my videos, it let’s me know when I’m doing things right! If you have not subscribed to my channel, please do so now so I can get more segments and topics to you each month.

A Mission Statement: Defining YOU

Our finances can define who we are, but in the latest two-part Street Smarts with Taayla video, we’ll show you how you can use a personal mission statement to determine for yourself who you want to be.

Right now, you’re at the beginning of a journey, a journey to who you want to become.

If your future self is the destination, think of a mission statement as the map to guide you there. A mission statement, much like a roadmap, helps you, and others, determine how you will achieve your goals and make it to where you want to go.

You’ve no doubt seen businesses and organizations use statements of purpose to communicate what it is that they do, and you’ve probably felt moved by some, and turned off by others. However, a well-written mission is more than just the clever marketing of a successful business, it’s the key to individual success as well.

Only you can define who you are, and by taking the time to carefully do so, you’ll come out ahead feeling ready to grow and succeed.

A personal mission statement is a critical step in achieving future success.

Mission statements help you understand who you are, where you’re going and why you’re going there. By imagining your path to personal growth before you begin your journey, you can create a plan that is clear and effective. This visualization will help you make critical assessments of where you are now and where you want to be, and ideally, provide the roadmap to do so.

Pick up a pen and ask yourself: What’s my story? Who am I as a child, parent, or friend? How do I want to be remembered? What will be my legacy?

While these questions for self-reflection may seem big or vague, oftentimes, we already know their answers. Write them down without doubt and judgment, however they flow through your mind.  The things we like to do, the people we like to spend time with — thoughts like these guide the mission statement-writing process.

As you continue planning the map of your vision, choose a couple trustworthy people in your life and ask them for an opportunity to provide you with honest feedback about yourself, your values, and your ambitions.

Find the recurring themes between their insights and yours, and use this to create a rough draft of your mission statement. Try to be concise in the message you want to convey, and write this future self in the present tense. It doesn’t have to be in a certain format for now; the focus of this exercise is to learn more about yourself so you can create the foundation for defining you.

Enjoy getting to know yourself, and celebrate your unique path.

I would love to learn more about you, so please feel free to use the comment section below to share with us your mission statement-writing experiences.

Thank you for reading along. Please like and share these videos, and subscribe to our channel: Engrace Financial Solutions — financial success made simple.

Life insurance for your business

Life Insurance for Your Business

If you’re not physically present to protect your business, who is? In the latest Street Smarts with Taayla video, I explain your options that allow you to protect your business by using life insurance.

Financial planners are always considering the possible risks to your business, and assessing how to best manage those risks with insurance. Here’s how life insurance can serve as a solution, in four ways.

“Key Man” Insurance

This is important in the case that your key person is not able to be there for your business, and their absence affects productivity and profit margins. This insurance covers the key man whether it’s you, the business owner, or your valuable employee or employees? Life insurance on this crucial person or persons will help cover the loss of revenue as well as the cost to re-train a replacement worker.

Securing Bank Credit

In many cases, banks require the principal of the company to be covered with life insurance to secure a loan. This is like key man insurance –but from the bank’s perspective.

Funding for A Buy-Sell Agreement

A buy-sell agreement, otherwise known as a buyout agreement, is a legal written document stating how its stakeholders are to conclude business in the event of death or a leave of absence. When death occurs to one of the partners or shareholders there is usually a typical need for immediate cash to fulfill the terms of the buy-sell agreement. This is when a life insurance policy comes into play.

Funding for Tax Liability

Death and taxes are unavoidable and usually go hand-in hand. In business, there are many ways that taxes can take a toll on more than you can imagine. It is recommended that you consult with a tax accountant to work out the numbers, and then place life insurance on the members of the business with their expected tax obligations. In setting up this contract, it is common to use the company as the owner and beneficiary of the policy, however it is not necessary.

There is so much more to learn and consider in the organization and protection of your establishment, and in this video we’ve only uncovered the tip of the iceberg. Keep an eye out for more videos to come! One of the best things about using life insurance to protect your business is that life insurance policies are usually paid out within two weeks after the claims requirements are met. That will also alleviate the need to liquidate assets in an already stressful situation.

I’d love to hear your feedback, or if you have a similar story, please share with us in the comments below! I will do my best to help support you through it. Please like and share this video, and subscribe to our channel: Engrace Financial Solutions, financial success made simple.

rags to riches

Business Advice from an Entrepreneur Extraordinaire: How Canadian CEO Graham Lee Built A Thriving Business

In my latest video, I sit down with successful Canadian entrepreneur Graham Lee to learn what it takes to build a thriving business.

Starting a successful business   

Graham began his first business at five years old selling Halloween candy. His push to make his own money? Freedom. Years later after finishing school, Graham was driven to create value. So, starting down the path he believed would risk him the least financially, he began his first of many projects – in real estate. This would become the foundation which would later provide him with the freedom to do bigger things, particularly those for the good of the community.

Life as a CEO

Today Graham Lee is the CEO, president and sole shareholder of GSL group, Canada’s largest private designer, builder, owner, and operator of community ice and soccer facilities, and multi-purpose arenas. GSL’s mantra? Bringing people together through concerts, sports, events and more. Social engagement is at the root of all that GSL does, Graham explains with sincerity.

Graham says the driving force behind his ambition is the pursuit of a purpose beyond himself. He grew up learning by example from the people he was surrounded by; these were influential people in the community and the world, including his parents who were philanthropists themselves. Their integrity and class motivated him, he recalls.

How Do YOU Define Success?

Graham’s definition of success takes on many different forms, he explains. Principally, it is comprised of “what you can provide for the community, and pursuing your passion.”

Beginning the company first solo, Graham later realized the importance of hiring the right people to delegate to who could actually execute better work than he himself. The components of a successful environment that fosters this type of performance in employees? Freedom of thinking, flexibility, and helping employees find their entrepreneurial spirit. The product of this all? Employees succeeding beyond their own beliefs.

If you have a certain skill level or opportunity to do something for the community that’s bigger than yourself, you cannot waste that, stresses Graham. “Use what you’ve got for the best purposes, for your community.”

Got a business idea brewing? Learn how I can help you achieve your own financial freedom here. I’d love to hear your feedback, or if you have a similar story, please share with us in the comments below!


Private Reserve: The Life Insurance Policy For Both Today And Tomorrow

Private reserve: the life insurance policy for both today and tomorrow.

What is a private reserve? Apart from the source of your favourite bottle of wine, it’s actually a life insurance policy you should be taking advantage of today.

In the latest Street Smarts with Taayla video, I explain how a private reserve is a safe, hands-OFF way to have money work for you. Moreover, it’s wealth building, tax-free and specially designed to provide you with both cash-flow for now and a reliable nest egg for down the road. The best of both worlds; an asset for your future that you can access now.

This particular life insurance policy functions to create and preserve your estate, as well as provide tax-free distribution to named heirs and survivor benefits.

What are the ways in which a private reserve could benefit your lifestyle?

  1. Funding, in the case of an unexpected emergency
  2. Sizeable purchases, such as a home renovation or new vehicle
  3. An education fund for your children
  4. Debt consolidation
  5. Retirement costs such as supplemental health fees, housing, or day-to-day enjoyment
  6. Investments
  7. Cash flow to scale your business

Why haven’t you heard about it before? Probably because many insurance advisors aren’t trained in private reserve life policies!

How do you get started?

  1. Set up an investment grade life insurance policy.  This policy will protect the investment growth from being taxed
  2. Call me to learn about the process of designing a plan that would fit your lifestyle and financial goals perfectly

Learn how you can take advantage of an investment strategy that will provide you with complete accessibility and control over a pool of continuous growth for years to come.

I’d love to hear your feedback, or if you have a similar story, please share with us in the comments below! I will do my best to help support you through it. Please like and share this video, and subscribe to our channel: Engrace Financial Solutions, financial success made simple.