Michael Bartkiw - Advisor, Sun Life

03/31/2022

Are you thinking of purchasing a new home or renewing your mortgage with a federally regulated lender? You’re going to be put through a stress test. If you’re not sure what a mortgage stress test is, I’ve got an explanation for you.

It’s a set of rules major banks must use to determine if you qualify for a mortgage. The test ensures you’ll still be able to afford your mortgage payments if interest rates increase. In other words, they’re putting your finances to the test.

Your mortgage broker will be able to guide you through this process. I can also help get your finances in order before you get started. If a new home is on the horizon, you’ll want to get started soon.

If you plan to get a mortgage in Canada, chances are you will have to pass the stress test. Here’s what you should know about the rules.

03/30/2022

I’m thrilled to share that Sun Life has been recognized in The Globe and Mail’s 2022 Report on Business Women Lead Here list. This recognizes our efforts to create an equitable environment for women to succeed. It also emphasizes our focus to close the gender gap at every level of our organization.

As part of our Diversity, Equity & Inclusion (DE&I) commitments, we’re focused on developing women and achieving gender parity. For us, it’s more than having a seat at the table. It’s about fostering an inclusive culture of innovation, valuing diversity of thought and experience, and creating opportunities for women to grow, thrive and advance in their careers.

I’m very proud of the progress we’re making as a company. Recently, we were recognized for being one of the Best Workplaces for Women and the Best Workplace for Hybrid Work in Canada. We also became Great Place to Work Certified in Canada, the U.S., and our Asia Service Centres in India and the Philippines. Sun Life is committed to ensuring women have a fair and equal voice, feel supported through their professional development, and have flexibility and choice to manage their careers.

While we are still on a journey, our supportive, flexible, and inclusive work environment is one where you – and your career – can thrive.

03/25/2022

Next grocery trip, take an extra minute and read the label. Learn why knowing what you eat matters.

Understanding food labels and nutrition facts can help you make informed choices when it comes to your food. We asked a Registered Holistic Nutritionist for her thoughts on why knowing what you’re eating matters.

03/12/2022

If you’re dealing with a mental health issue, one of the best things you can do is tell someone. It may be scary but talking about your issues can help and it can help others as well. Let’s stop the stigma and talk a little more about our own mental health.

You’ll hear lots of prompts to ‘Talk’ about mental health today. Not sure how to get started? Here are some resources to help start the conversation - whether you’re seeking help for yourself or others. 

03/03/2022

My thoughts are with everyone affected by the conflict in Ukraine. To help support immediate and ongoing humanitarian relief efforts, including supporting those that have been displaced, Sun Life is donating $200,000 to . https://sunlife.co/3SLNews1

03/03/2022

Spring break is coming. As restrictions are being rolled back, many of us are hoping to get away for a much-needed vacation. Before you book, don’t forget to check your travel insurance. Be sure to check for COVID-19 related cancellations, and the so-called quarantine coverage should you test positive while away.

Canadians looking to get away for spring break now have a more robust range of travel insurance options.

02/24/2022

To improve access to mental health support for the Black community, Sun Life is donating $200,000 to . The funding will help 200 Black essential workers in Ontario and Quebec access five culturally tailored mental health sessions at no cost. Black health matters and improved health outcomes build healthier communities. This is one way we are helping people live healthier lives. Learn more: https://bit.ly/3oVDcE5.

02/23/2022

When the 🐐 speaks, you listen. In other words, be careful getting greedy and buying during market highs. When the market dips or crashes, don’t be fearful, that’s the best time to get greedy and buy away.

Not a bad time to get greedy these days

02/16/2022

Lots of changes coming this year, from minimum wage increases, end to fossil fuel financing and soft drink taxes. Check out some of the new rules and regulations coming to your province.

With 2021 behind us, a number of new rules and regulations are set to take effect this year. Some of the changes include minimum wage hikes, plastic bag bans and soft drink taxes.

02/11/2022

Do you find it harder to stay active in the winter? There are still a lot of great ways to get your exercise in and on a budget as well.

Temperatures are dropping, but you don’t have to drop your fitness goals. Here’s how to stay healthy, active and in shape throughout the winter.

02/08/2022

Let's be real. We all want to pay less taxes. Here are four tricks the wealthy use to reduce taxes that ordinary Canadians can try, too.

1. Sheltering your income from taxes through yearly RRSP and/or TFSA contributions (preferably the maximum amount every year). Setup your TFSA too. While the money you contribute will be post-tax income, any interest, dividends or capital gains earned in it are tax-free for life, and you won’t have to pay taxes on the withdrawals.

2. Incorporating your business to reap the benefits of lower tax rates, business write-offs and tax-deductible individual pension plans.

3. Shifting taxable income from a spouse with a higher tax bracket to another with a lower tax bracket, including children.

4. Buy a permanent life insurance policy. With it's investment component, it grows free of annual taxation for life.

Contact me if you or anyone you know want to find out more about taking advantage of these great tax-sheltering opportunities to secure you and your family's financial future.

You don’t have to be in the 1% to incorporate these tried and true tax strategies into your own planning

02/03/2022

Take it from the pros. If you can, get a permanent life policy as early as possible. The earlier you do, the cheaper it is, and it's locked in for life at the same price every year no matter the change in your health.

Most people in their 50's wish they bought permanent life insurance, or more of it much earlier due to the doubling and tripling of the price of term insurance as you age, and as your health changes. It's also possible you won't even be able to get any coverage at all later in life due to possible heath complications.

Take a peek at this brief article for more important details. Contact me if you want to find out more about how this could benefit you and your family.

Longer-term insurance coverage is generally more affordable for people under 40