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Financial Checkup

Find out how prepared you are to meet your financial goals.
You probably have a number of financial goals in your life and, chances are, success will depend on a number of factors—financial planning, investing, incorporation, banking and borrowing, insurance and estate planning.

Use this tool to generate a quick, insightful overview of the specific risks and opportunities that MD can help you address today.

Financial Checkup

My Financial Plan

Step 1 of 6
I have a plan to deal with unexpected financial situations.
I know my financial plan will keep me on track to my retirement goals.
My financial plan will help me grow, manage, protect, and transfer my wealth.
Please answer all questions before moving to the next step.

Did you know...

Having a comprehensive, up-to-date plan can help you feel more certain about reaching your long-term financial goals while dealing with short-term challenges that may arise along the way. You’ll also be better equipped to indulge discretionary spending goals with confidence.

Financial Checkup

My Investment Strategy

Step 2 of 6
My investment portfolio was designed for me and I know what to expect in terms of risk and returns.
My portfolio currently includes alternative investments such as real estate and commodities.
My portfolio benefits from a disciplined investment process and active management to enhance potential returns.
Please answer all questions before moving to the next step.

Did you know...

A disciplined approach to actively manage and adjust a portfolio, including a documented process for selecting and monitoring active investment managers can effectively manage risk while seeking better rates of return.

Financial Checkup

My Incorporation Strategy

Step 3 of 6
I am taking advantage of the low corporate tax rate to reduce my income tax.
I am investing in a tax-smart manner within my corporation.
My corporation is integrated into my retirement and estate plans.
Please answer all questions before moving to the next step.

Did you know...

Depending on the province, incorporated physicians can take advantage of income tax rates as much as 30% lower than non-incorporated physicians.

Financial Checkup

My Banking

Step 4 of 6
I know the pros and cons of using my income to pay down debt versus investing.
I have a good understanding of leveraged investing.
I understand when and how to use long-term, short-term, fixed-rate and floating-rate lending.
Please answer all questions before moving to the next step.

Did you know...

Leveraged investing, or borrowing money to invest, can magnify both gains and losses. It takes thorough financial planning to understand whether it is prudent for you.

Financial Checkup

My Insurance

Step 5 of 6
I am using life insurance to offset the taxes payable upon my death or the death of my spouse.
I am using the tax-advantaged room within an insurance plan to build my tax-deferred savings.
I have an insurance strategy in place to tax-efficiently extract money from my corporation upon my death.
Please answer all questions before moving to the next step.

Did you know...

Life insurance benefits can pass through a corporation’s capital dividend account and preserve as much as 30% more of your corporate wealth for your family.

Financial Checkup

My Estate Plan

Step 6 of 6
My Will and powers of attorney for both financial affairs and health care are in place and current.
I have been appointed as someone’s executor or trustee and am fully aware of the responsibility involved.
I have incorporated trusts into my estate plan.
Please answer all questions before moving to the next step.

Did you know...

Including trusts in an estate plan can be an effective strategy to minimize tax and protect your estate by reducing probate and executor fees.

Financial Checkup

Your Results

Your Results:

Thank you for completing the MD ExO Financial Checkup. Your answers indicate that you would benefit from a review of your financial plan. Consider talking to an MD Advisor about: Thank you for completing the MD ExO Financial Checkup. Your answers indicate that you are doing a good job of managing your financial affairs overall. However, it looks like there may be a few gaps in your plan. Consider talking to an MD Advisor about: Thank you for completing the MD ExO Financial Checkup. Your answers indicate that you have built a solid plan. If at any time you would like to learn more about how MD, a CMA company, can help physicians with their unique financial planning needs, contact an MD Advisor to:

  • Conducting a more thorough financial planning review
  • Opportunities to reduce tax for you, your family and your medical practice
  • Strategies to better align your investments with your goals and to navigate unpredictable markets
  • Conducting a more thorough financial planning review
  • Opportunities to reduce tax for you, your family and your medical practice
  • Strategies to better align your investments with your goals and to navigate unpredictable markets
  • Conduct a more thorough financial planning review
  • Discuss opportunities to reduce tax for you, your family and your medical practice
  • Explore strategies to better align your investments with your goals and to navigate unpredictable markets

Contact an MD Advisor

Disclaimer

The MD ExO® service provides financial products and guidance to eligible clients, delivered through the MD Group of Companies (MD Financial Management Inc., MD Management Limited, MD Private Trust Company, MD Life Insurance Company and MD Insurance Agency Limited). MD Financial Management is owned by the Canadian Medical Association. Incorporation guidance is limited to asset allocation and integrating corporate entities into financial plans and wealth strategies. Professional legal, tax and accounting advice regarding incorporation should be obtained in respect to an individual’s specific circumstances.

MD Financial Management provides financial products and services, the MD Family of Funds and investment counselling services through the MD Group of Companies. For a detailed list of these companies, visit http://md.cma.ca.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed. Their values change frequently and past performance may not be repeated. To obtain a copy of the prospectus, please call your MD Advisor, or the MD Trade Centre at 1 800 267-2332. The MD Family of Funds is managed by MD Financial Management Inc., a CMA company.

Estate and trust services are offered through MD Private Trust Company, a CMA company. Investment counselling services delivered by MD Financial Management Inc., a CMA company. MD Financial Management does not intend to provide taxation, accounting, legal or similar professional advice to clients or potential clients. The information contained in this document is not intended to offer such advice, nor is it intended to replace the advice of independent tax, accounting or legal professionals.

MD Management Limited - Member - Canadian Investor Protection Fund

® Registered Trademarks of the Canadian Medical Association, used under licence

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Only MD offers an Expert Office, a collaboration among financial advisors and specialists who engineer total wealth management strategies and solutions exclusively for physicians.

No matter what your financial goals may be, when you work with MD you can expect a personalized, comprehensive plan that includes:

Contact an MD Advisor, and discover how MD can help you achieve your financial goals.

My Financial
Plan
My Investment
Strategy
My Incorporation
Strategy
My Banking
My Insurance
My Estate Plan
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