Sunstone Wealth

Sunstone Wealth We provide customized financial solutions to individuals and businesses in Ontario and Nova Scotia These aren't uncommon. But they're avoidable.

Are you one of the many Canadians who…

- don’t have a clear picture of their financial future even though they save and invest money...?
- wonder how they can save anything after caring for their obligations because their bills are so high...?
- are certain they would be financially devastated if an unexpected circumstance happened...? Many other Canadians feel at peace with their finances.

- T

hey have a clear picture of their situation and their objectives...
- They have a vivid vision for how they will reach them...
- Their relationship with money is a positive one…

And unlike what many would think, these Canadians are not the wealthiest. Rather, they make modest incomes. What do these Canadians do right? They take a holistic approach to their financial security. That’s what, as a financial advisor, I help clients achieve. My business, Sunstone Wealth, is here to support you on your journey to financial security and freedom. I am licensed to serve clients in Ontario and Nova Scotia. Here on LinkedIn, you’ll see me post about finance and how to take control of your financial future. If you're ready to take control of your financial future, here are two ways I can help you.

✅ Download my free eBook on Holistic Planning to learn about holistic planning.
✅ Book a free discovery call with me to discuss your situation and see how I can help. Links to both are pinned on the Sunstone Wealth wall

Looking forward to speaking with you!

- Steve




Mutual funds and segregated funds provided by the Fund companies are offered through Worldsource Financial Management Inc., sponsoring mutual fund dealer. Other Products and Services are offered through Sunstone Wealth Management Inc.

07/26/2023

In 11th grade I had a math teacher who’d failed math himself.

But the fact that he’d failed made him a good teacher.

- He knew in which areas students struggled and why they did.
- He knew how to motivate and encourage students.
- He knew how to show compassion and understanding.

Failing isn’t the end of the world. I often say “failure is the best educator.”

Sometimes, it becomes a strategic advantage.

If you feel you haven’t been doing well financially, it’s ok.

It’s never too late to get back on track, and struggle is the best of teachers.

As long as you act, you’ll be fine.

I’m here to support you if you need help!

07/25/2023

I’ve worked with over 1,200 clients over the past 27 years.

1,200 clients taught me a lot as a financial advisor.

I can tell you with the utmost certainty that what they say is right.

It’s not how much you make, it’s what you do with it.

I’ve seen every scenario, every situation… I’ve worked with people from all walks of life… Seen every extreme from hyper saving to hyper spending.

I know we’re living through uncertain times…

But in the end, your mindset matters more than your paycheck.
You really are in control of your finances.

If you need help, I’m here for you.

Check the first comment to find my calendar link.

07/21/2023

I’m a big fan of coaches and consultants.

They’re people who work directly with clients and always have them in mind whatever they do.

They’re some of the most customer-centric businesspeople in the market.

And they make a real difference in their clients’ life.

I’ve learned a ton from coaches and consultants over the years. I work with many of them, and I’ve utilized their services, too.

There are a lot of synergies between what I do as a financial advisor and what they do in their respective businesses.

What’s one type of business you particularly like or respect?

07/20/2023

Here are 5 critical elements of holistic planning:

- Retirement planning — to make sure you have enough money to maintain your lifestyle after you stop or slow down from working.
- Tax planning — to minimize what you owe to the government at the end of the fiscal year and in future years.
- Cashflow planning — to make sure you are able to meet all your financial obligations and put as much money toward savings and investments as you can.
- Estate planning — to make sure your assets are distributed the way you want after you pass away.
- Investment management — to grow your wealth as much as possible without working more and without taking more risk than you are comfortable with.

Which one do you struggle with the most?

Which one do you want to focus on first?

07/19/2023

What do you do during a planning meeting with a financial advisor?

You talk about your goals.
You define your short and long-term priorities.
You take an inventory of your assets and liabilities.
You provide all information relevant to your financial situation.

That’s really all you need to do.

Then your financial advisor comes up with a plan and recommendations.

Now you can sleep in peace.

If you’d like to discuss your situation and how a financial advisor can help, my calendar is open for you.

Check the link in the first comment and book a time to speak with me personally.

07/18/2023

Best practices for financial freedom:

- Protect yourself against events you cannot control
- Maximize your TFSA and, when it makes sense, your RRSP contribution room.
- Take full advantage of your employer’s benefit programs.
- Don’t sell in panic during economic downturns. This too shall pass.
- Understand your level of tolerance to economic risk.
- Have a plan and stick to the plan.

07/17/2023

There are two main types of life insurance you can buy:

- Term insurance
- Permanent insurance

TERM INSURANCE

With a term insurance, your coverage lasts for a specific period (usually 5, 10 or 20 years), and you pay a premium based on the risk you pass away during that period.

Term insurance is best for covering temporary needs.

For example, a mortgage or other debt is temporary. Eventually, you will pay off your mortgage and no longer need that coverage.

Likewise, providing an income stream for dependents may be considered temporary.

With term insurance, your premiums will rise at the end of the coverage period. Then they will continue for another period until the policy expires (usually age 75) or whenever you cancel the policy. It's flexible and, most importantly, inexpensive.

PERMANENT INSURANCE

With permanent insurance, your coverage never expires and can cover a person throughout their lifetime. There are two general types of permanent insurance:

- Whole Life
- Universal Life

The idea behind permanent insurance is that premiums will be much higher than term insurance since you are paying for your entire lifetime.
As such, you are paying extra premiums in the early years to fund your coverage in later years.

The main difference between the two is that in a Universal life plan you, the insured, determine how excess premiums are invested as well as the investment risk.

With Whole Life, the insurance company invests the excess premiums on behalf of all policyholders.

The most important aspect of this type of insurance is that it's permanent. Permanent insurance is perfect for covering insurance needs or desiress that never go away:

· Funeral Costs
· Estate settlement fees
· Income taxes
· A legacy for your family
· Charitable Donations
· Providing for a special needs child
· Etc.

If you don’t have life insurance and aren’t sure what you need, I’m here to help. We can have that conversation together—and, best of all, it is free.

Check the first comment for the link to my calendar.

07/14/2023

It’s easy to think that financially stable Canadians are either geniuses or the children of aristocrats.

The reality, however, is quite different.

A lot of the people I’ve worked with over the years are now extremely stable—some wealthy. But it took hard work and courage.

I’d be lying by omission if I didn’t point out the difficult conversations we had in 1999-2000, 2002-2003 and 2008-2009.

For example, in 2003, my clients saw markets drop nearly 50% from their peak in 1999. But I pointed out that markets were at the same level when we started working together, and they were still making money.

We had similar conversations in 2008.

Fortunately, most of my clients stuck with their plan.
And today they look back to these economic downturns feeling thankful they didn’t sell in panic.

I’ve said it before and I’ll say it again: financial advisors are the voice of reason you need in uncertain times.

Do you have a financial advisor?

07/13/2023

Right now is the best time to have a financial advisor!

I've said this to many clients over the years, "the time when advisors provide the most valuable service is during turbulent times.”

Financial advisors are the voice of reason that prevents you from making rash decisions at possibly the worst time.

Volatile markets create opportunities and shouldn't be a time for panic.

If you don’t have a financial advisor, what are you waiting for?

You can book a discovery call with me to find if and how I may be able to help.

If you would like to discuss your specific situation with me, my calendar is open for you.

Check the first comment for the link to my calendar.

07/12/2023

It’s never too late to reach your financial goals.

Here’s why:

I once had a client; a lawyer who, for various reasons, started saving late. Illness and part-time employment had got in the way of making as much income as he would have.

Even though he was in his forties and had little in savings, he is now on track to reach his retirement goals.

We achieved that by:

- creating a strategy to eliminate debt quickly
- maximizing his RRSP and TFSA contributions
- creating strategies to reduce and minimize income taxes.
- squeezing everything we could into savings and investment accounts
- getting really clear on the client’s goals and priorities

Nothing is impossible when it comes to financial goals.

You only need determination, discipline, and sound financial advice.

If you would like to discuss your specific situation with me, my calendar is open for you.

Check the first comment for the link to my calendar.

Address

Toronto, ON

Opening Hours

Monday 9am - 4:30pm
Tuesday 9am - 4:30pm
Wednesday 9am - 4:30pm
Thursday 9am - 4:30pm
Friday 9am - 4pm

Telephone

+14164368771

Website

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