• (905) 624-0008
  • zahid@oroojfinancial.com
  • 217-1670 North Service Rd. East Oakville, Ontario L6H 7G3
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ESTABLISHED FAMILIES

Are you Established Family?

At this stage of your life, your job may pay well but expenses could peak. Your work hours may take up much of your day and you may not have enough time to sit and plan out emergency funds when the need arises. Your children may have grown up fairly by this phase so education funds and independent accommodation may eat into your savings. You may not have time to recover from unexpected setbacks if there is no additional protection.

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RELATED SERVICES

LIFE INSURANCE

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CRITICAL ILLNESS INS.

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RESP

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KEY CONSIDERATIONS

Protect yourself first
Concern:

How would your family cope if you suddenly passed away at this time or became disabled? Would you want them to drop out of school? Would you want them to slide back on their lifestyle? If you haven’t protected yourself by this stage, you or your loved ones may be in for a hard time.
Solution:

This is the phase when you may be most productive, earning the highest paycheque of your life. The years ahead may get even better and more lucrative. But expenses could be high too and you could be using up most of your savings to see your children through college or investing aggressively for retirement.

However, could your family cope with an unforeseen emergency at this stage? Will your retirement plans suffer if you became disabled suddenly? It helps to be well prepared at all times.
Products to consider:
Critical Illness Insurance
Disability Insurance
Health Insurance
Life Insurance
Long Term Care Insurance
Save Aggressively
Concern:

At this point, the years ahead will most likely be productive and highest earnings of your life. However, like many families, you may be using a significant amount of your savings to put your kids through college just when it’s time to be aggressive in saving for retirement.
Solution:

Start with planning an emergency fund that will help you cover at least three to six months of basic living expenses. It may initially seem daunting but with your earnings at the highest level, kids out of your home and reduced debt it is very important to maximize your savings. At this stage, time is not on your side but extra savings can catch up with missing compounding opportunity. You should also try to catch up to any missing contributions to TFSA and RRSP.
Products to consider:
Non Registered Investments
RRSP
TFSA
Plan for your estate
Concern:

Estate planning is crucial to wealth management. If your will doesn’t have prior arrangements, the government will have their say on your property distribution. 
Solution:
Estate planning does not necessarily involve home and real estate. Good estate planning should involve everything you possess such as your vehicle, jewellery and other valuables, finances, life insurance, personal possessions and furniture. When structured well, estate planning will help reduce your taxes, legal fees, court costs and speed up the transfer of property to your near and dear ones so they are protected. 
 
Estate planning should be reviewed and updated with changing times. It helps to include the following:
 
  • Disability care before your death 
  • Appointing a guardian and inheritance manager for minor children
  • Care for family members with special needs over and above government benefits
  • Care of relatives under debt, divorced or disabled
  • General care for your family in the event of your death or health emergencies
  • Provisions from smooth business transfer after your retirement, disability or death
  • Instructions for passing your values (religions, education, moral, work ethics) and valuables to your children.
  • Minimize legal fees, taxes and court procedures
  • Update and review your plans periodically as financial situations and laws change over time.
 
Products to consider:
Power of attorney
Will
Get Professional Help
Professional financial advisors have years of training, tools, and experience working with many different clients and situations. Because of their broad experience, professional advisors can quickly assess your needs and offer advice that reflects the best practices of the financial industry and is appropriate for your particular needs. In addition, and probably most importantly, a financial advisor can help you avoid mistakes. Mistakes can be incredibly destructive to your financial health. Not having a long-term investment strategy, not having adequate insurance protection, paying too much in fees or taxes unnecessarily, having the wrong beneficiary on retirement accounts, failure to set up a will; the list goes on and on. What they all have in common is that they are all very costly and all very avoidable. A professional advisor will look for gaps in your financial strategy and help you correct them. Professional advice helps you plot a financial course with the confidence that you are using your resources wisely while avoiding the common pitfalls that so many fall prey to.
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Testimonial

WHAT OUR CUSTOMER SAY?

RAJ , Mississauga

I know Zahid for the last 4 years, as he has handled my complex and unique insurance needs. During one of the recent conversations , when he mentioned that he also handles mortgages, (considering his excellent support and understanding of my unique situation and needs in the past) I immediately requested him to help me get a good mortgage so that I can consolidate my first and second mortgage and save on monthly mortgage payment. As during the past year, I've been to many mortgage brokers and nobody could offer me something to the best of my satisfaction.( Either , the interest rates were high, or LTV was low ) . But to my pleasant surprise, Zahid and his associate Bindu, offered me exactly what I was looking for considering my unique situation, with minimum of paperwork (the interest rate was very competitive and the LTV was also good). And all the closing process was finished in very less amount of time and they supported me during the whole process. I must say Zahid is very knowledgeable, professional and good human being, and so his associate Bindu, they are excellent team. I am looking forward to work with them so that my future financial needs can be taken care of.

Ashiq Hussain Jeddy , Milton

I take this opportunity to thank you for helping me in my financial needs and I was really " Impressed" with your professionalism and the way you gave me your advice. It's been 15 years since I came to this country and have met many " Financial Advisors" but didn't have that " Positive Attitude" you have and even though I had a " Bad Credit" and was very much worried that I am going to loose everything but with your expertise and guidance I came out of it as you helped me in getting the " Second Mortgage" with the lowest interest rate available in the market and guided me at every step of that process. Now I am having sleep without any " Nightmares" and you have promised me that you are going to help me in my financial decisions till the time you think I am stable enough and even after that stability you will still keep advising me with your expertise. For me you were a " Savior" and with your advice will definitely be successful. Once again I thank you very much for your help and advice and wish you all the best wishes and indeed I will refer my family and friends to your office in future for any " Financial Advise".

MEHRAN , Markham

I had a great experience getting mortgage through Orooj Financial. Mr. Zahid Syed and his team were able to get me the best rate in the market. All the paper work was done electronically which made me possible to focus on my job. I am impressed with their services and convenience they offer to clients. I would highly recommend others to get in touch with them and feel the ease of getting mortgage.

Tahir Qureshi, General Manager - Ansar group

I called Zahid after hearing his tips on radio and just felt that I could trust him. I arranged a meeting in his office. He listened to my needs very carefully and provided me the life and critical illness insurance for my family future. I was very impressed with his professionalism and would refer him to my family and friends.

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