Learn how to save more money for your retirement by earning return on your contributions.
Description: Tamira sits on her patio and opens her laptop.
Narrator: When it comes to saving.
Description: Cut to view of laptop.
Narrator: Your contributions aren’t the only way your investments can grow.
Description: She reviews her group retirement and savings plan. The balance, contributions and growth are shown.
Narrator: You can also count on the returns on those contributions.
Description: Camera pans up to reveal a few bills of money as an initial contribution.
Narrator: Both your contributions and any earnings get reinvested.
Description: Camera zooms out. An arrow connects the bills to an investment graphic.
Narrator: Then anything you earn on that money is reinvested.
Description: A larger grouping of bills is connected to a second investment graphic.
Narrator: And anything you earn on that money is reinvested.
Description: A pile of money is connected. The pile is connected to the contribution. All graphics create a cycle.
Narrator: You’re making earnings on your earnings.
Description: Camera pans back to the initial bills shown. There is now a larger pile of money.
Narrator: This pattern is called compounding.
Description: The word “Compounding” appears onscreen.
Narrator: If you contribute to your savings monthly,
Description: Cut to bar graph showing yearly contributions over 5 years.
Narrator: watch how a 5% annual return on your investment.
Description: 5% of earnings is added on top of each yearly contribution.
Narrator: will grow over 10, 15, 20 years and so on.
Description: Camera zooms out to as the graph extends to show contributions over 20 years.
Narrator: With compounding, you make so much more.
Description: 5% of earnings is added on top of each contribution from 6 to 20 years.
Narrator: The longer your money is invested, the more you earn over time.
Description: Camera pans to show total earnings of $203,729 over 20 years as a large number. Small text appears underneath: “$500 monthly with 5% annual earnings.”
Narrator: The key is to start saving early and maintain a long-term focus.
Description: The total moves over to the left side of the frame.
Narrator: An extra five years of saving and earning can make a big difference.
Description: On the right, total earnings of $294,060 over 25 years is compared.
Narrator: So start investing now through your group retirement and savings plan.
Description: Cut to Tamira 5 years later, sitting on the patio of a coffee shop, looking at her phone.
Narrator: Make regular contributions and avoid taking money out.
Description: She receives a notification from her banking application that $500 has been sent to her savings plan.
Narrator: Then watch compounding help your money grow.
Description: Cut to close up of her phone. Her overall investment growth is shown on a line graph.
Narrator: It’s an easy and powerful way to save for your future.
Description: Cut back to Tamira, talking to her partner on the patio.
Narrator: Sign into GRS Access at canadalife.com.
Description: Text “Sign into GRS Access at canadalife.com” appears with Canada Life logo and legal line: Canada Life and design are trademarks of The Canada Life Assurance Company. canadalife.com 1-800-724-3402.
From borrowing money for a down payment to furthering your education, you can do more with an RRSP than just save for retirement.
Narrator: You may have heard that RRSPs were just for retirement.
Description: The question “Are RRSPs just for retirement?” appears.
Narrator: But did you know an RRSP can help you fund full-time continued education.
Description: A graduation cap flies into frame. A legal line appears below: “Money can be borrowed up to a maximum amount.”
Narrator: through the Lifelong Learning Plan.
Description: Cap moves out of frame. Words appear: “Lifelong Learning Plan.”
Narrator: And, if you’re looking to buy your first home,
Description: A line is drawn across the frame, a single story house rises from the line.
Narrator: you can use the Home Buyers’ Plan to borrow money from your RRSP to put towards your down-payment.
Description: The words “First-time homebuyer” moves into frame above house. A “For sale” sign is built in front.
Narrator: Whatever you use the money for, you won’t be taxed on it.
Description: A paper with a percentage sign (taxes) moves into frame. A portion of the paper is cut with a scissors.
Narrator: As long as you pay the money back within the time limit outlined by the plan.
Description: Two boxes move into frame. The left displays a house graphic with labels: “15 years” and “Home Buyers’ Plan.” The right displays a stack of books with labels: “10 years” and “Lifelong Learning Plan.” A legal line appears below: You must fill out the proper forms and pay the money back within a given period of time.
Narrator: An advisor can also help figure out if you qualify.
Description: Boxes move out of frame. Two hands move in and clasp to handshake.
Narrator: Learn more at canadalife.com.
Description: Hands move out of frame to reveal “Learn more at canadalife.com” with Canada Life logo and legal line: Canada Life and design are trademarks of The Canada Life Assurance Company.
Starting early is a great way to reach your long-term investment goals with the help of compound interest.
Narrator: Want to achieve your financial goals faster?
Description: A trowel scoops a seed into a pile of dirt. The frame splits in half. The left side shows saving $500/month at age 25. The right side is later, $1000/month at age 45.
Narrator: Then why not start saving money today.
Description: A watering can is lifted and waters the seed. The trowel covers the seed.
Narrator: Because, the sooner you start putting it away.
Description: A calendar enters the frame, with the same amount invested on the first day of each month.
Narrator: The sooner your money can grow.
Description: The split frame with the two seeds returns. On the left side a tree starts to grow as the age increases from 25 to 45. A legal line appears: “$500 invested on the first day of every month over 40 years. 6% annual rate of return, compounded monthly. Segregated fund and/or mutual fund fees will lower your rate of return.”
Narrator: thanks to earnings that can compound over time.
Description: A tree also starts to grow on the right side at age 45. Both sides finish growing at age 65. A legal line appears: “$1000 invested on the first day of every month over 20 years. 6% annual rate of return, compounded monthly. Segregated fund and/or mutual fund fees will lower your rate of return.”
Narrator: Before you know it, you’ll be closer to achieving your goals, than if you’d waited.
Description: The tree on the left side is bountiful, saving $1,000,724. The tree on the right is much smaller, saving $464,351.
Narrator: Save early, save often.
Description: The tree on the right moves out of frame. Text “Save early, save often” appears.
Description: Frame fades to reveal “Learn more at canadalife.com” with Canada Life logo and legal line: Canada Life and design are trademarks of The Canada Life Assurance Company.
Setting up automatic contributions can make saving simple and potentially help you reach your long-term investment goals sooner.
Narrator: Saving for something?
Description: Camera zooms out to reveal a single-storey house with a “For sale” sign.
Narrator: Well, to reach your goal sooner,
Description: A calendar enters the frame.
Narrator: Simply set up an automatic contribution,
Description: Money is invested on the 3rd and 17th day of each month.
Narrator: Choose your amount and how often you want to save it.
Description: The same amount is the next month.
Narrator: Your money flows easily into your savings,
Description: The pattern repeats every month.
Narrator: Is invested right away.
Description: Return to the house.
Narrator: And with compounding, could grow more and more.
Description: A “Sold” sticker covers the “For sale” sign.
Narrator: So don’t put it off.
Description: A second storey, garage and landscaping are added to house.
Narrator: Because who wants to play catch up?
Description: A car drives into the garage.
Description: The frame splits in half – with the house on the left side and “Save early, save often” appears on the right.
Did you know that contributing to an RRSP can lower your annual income tax? The tax benefits of an RRSP are better than you might think.
Narrator: You may have heard that RRSPs are taxable in retirement.
Description: The question “ Are RRSPs taxable in retirement? ” appears.
Narrator: That’s true!
Description: A thumbs up moves into frame.
Narrator: But think about this.
Description: Thumb moves out of frame. An egg in a nest appears.
Narrator: When you contribute to an RRSP,
Description: Coins fall into nest.
Narrator: you may pay less tax at the end of the year,
Description: A hand types on a calculator. A paper is printed from the calculator.
Narrator: Which helps you save money today.
Description: The paper becomes a calendar.
Narrator: Now let’s fast forward to the future.
Description: The calendar flips.
Narrator: Once you retire and withdrawal savings from your RRSP, your income will likely be less than it is today.
Description: A lake scene is revealed. A dock with muskoka chair and small table with lemonade moves into frame.
Narrator: That means your tax rates will be lower on those withdrawals –
Description: Camera pans to the left, coins bounce into frame and land on a piece of paper with a percentage.
Narrator: so you won’t pay as much tax as you might think.
Description: An arrow appears from below the paper and moves out of frame. The camera follows and the arrow lands. More coins fall beside.
Critical illness insurance can provide the coverage you need, when you need it most.
Description: Emily stands in her kitchen, talking on the phone with a friend.
Narrator: Critical illness insurance provides coverage when it counts.
Description: She quickly hangs up the phone, feeling a pain in her chest.
Narrator: If you’re ever diagnosed with a life-threatening illness covered by your policy.
Description: Cut to Emily in a hospital bed. A doctor stands beside the bed holding a clipboard.
Narrator: Critical illness insurance can help you focus on you and your family.
Description: Cut to her at home, lying on the couch, covered in a blanket. Her son sits on the end of the couch while her husband brings a tea.
Narrator: It’s a one-time tax-free payment you can use however you want.
Description: Her hands enter the frame. She opens a letter to reveal a cheque from Canada Life.
Narrator: And that includes covering costs your healthcare plan doesn’t.
Description: A shield is drawn around a plus sign, representing healthcare.
Narrator: It’s money to help.
Description: Cut to Emily holding her phone.
Narrator: Pay the bills.
Description: She uses online banking to make a bill payment.
Narrator: Protect your retirement savings.
Description: Cut to Emily and her husband smiling, vacationing on the beach.
Narrator: And cover expensive drugs or alternate treatments.
Description: Cut to her in the kitchen, holding a pill bottle and receipt.
Narrator: It can also give you access to expert medical help.
Description: She sits at her desk with her laptop open, video conferencing with a specialist.
Narrator: And if you never need to make a claim.
Description: A shield is drawn to represent optional coverage.
Narrator: With the optional return-of-premium* benefit, you could get back some, or all of the money you paid for your coverage.
Description: A pile of money appears and becomes larger when "all of the money…” is mentioned. Legal line appears: *The Canada Revenue Agency (CRA) and Revenue Quebec have not provided a formal ruling regarding the tax treatment of return-of-premium benefits that are included in a critical illness policy. The tax treatment of an optional return-of-premium benefit is, therefore, subject to interpretation.
Narrator: Get the coverage you need, when it counts the most.
Description: Cut to Emily and her family sitting on the couch relaxing and drinking tea.
Narrator: Visit canadalife.com to learn more.
Description: Text “Visit canadalife.com to learn more.” appears with Canada Life logo and legal lines: Canada Life and design are trademarks of The Canada Life Assurance Company. canadalife.com 1-888-252-1847.
When Katherine experienced a life changing illness, family and her recovery were top of mind. This meant not letting things like financial obligations get in her way.
Description: Sad, slow music begins to play in the background on a black screen.
Description: A woman appears sitting on a chair in a living room beside a table with a vase of flowers. She looks to the right of the camera and begins to speak.
Katherine: I think as humans we always think it's not going to happen to us. We always think it's going to be the next person. We just, I guess, especially when you're younger, you feel invincible. You just feel it's not going to affect you. It's not going to happen to you.
Description: A white box appears screen right of Katherine with red text. The text reads, Katherine, self-employed mother of two.
Description: The white box disappears.
Description: The screen becomes grey and blurred. A white box appears screen right. The text reads, in May 2015, Katherine was diagnosed with Langerhans cell sarcoma. The red text disappears, and more red text appears that reads, 60 known cases worldwide, zero specialists worldwide, 25% survival rate.
Katherine: As we broke this news to various people around us, the people that were, I guess in my husband's world,
Description: The box disappears and Katherine reappears to the right of the camera.
Katherine: which is the medical community, they understood immediately the implications. So they would immediately come and give me a hug. I knew that wasn't good.
Description: The screen becomes grey and blurred again. A white box appears screen right. The text reads, Katherine visited doctors familiar with her illness in Boston and California for treatment options.
Katherine: Every time I would be sitting in the waiting room waiting for my radiation treatment,
Katherine: I would look at who was sitting around me, and I could see that there were people who were struggling like me with these health issues, but they had other struggles as well. They had to figure out how their rent was going to be paid. They were in a state where they could not go to work, but how could they make their financial commitments?
Description: The screen becomes grey and blurred again. A white box appears screen right. The text reads, in her 30s, Katherine purchased critical illness insurance for her family.
Katherine: This critical illness insurance made the whole.
Katherine: process of recovery just a lot smoother, a lot easier. By removing the financial element out, by it being able to take care of that financial element, we could just focus on the whole healing, on the whole finding the treatment plan, going through the treatment, all of that, and just getting better.
Description: The screen becomes grey and blurred again. A white box appears screen right. The text reads, Katherine’s cancer is currently under control and doctors continue to monitor her progress.
Description: Katherine: I can't believe that.
Katherine: It almost seems like it never happened. It was so intense while it was happening. Now that it's over with, it just seems like it was another lifetime away.
Description: The video changes to Katherine walking with her two children on the sidewalk with snow on the ground.
Katherine: When it's about to all be gone, you certainly become aware of what's really most important to you.
Description: The video returns to Katherine.
Katherine: And, I still get mad at my kids and my husband, you know, but I think I'm a lot more patient with the people closest to me because you're just keenly aware that they may not always be there or you may not always be there. So, you know, just let go of the little insignificant things.
Description: A white screen appears with red text that reads, protect what’s most important – your health and the ones you love. Talk to your advisor today. The Canada Life logo appears.
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