Oh what a night! Fashion Heals for SickKids turns 5

Oh what a night! Fashion Heals for SickKids turns 5

As the week winds down, I’m taking a moment to reflect on what just happened: Fashion Heals celebrated its fifth edition!

About 5+ years ago, Nat Korol and I had the idea to find a fun, interesting way to make a difference, and we decided to focus our efforts on SickKids. Many people I know have used SickKids’ services, and the impact the hospital has had on their lives cannot be measured. Having attended many fundraisers, Nat and I wanted to be different. We wanted to keep all eyes on the kids and make sure it was their night. With that spark, Fashion Heals for SickKids was born.

Fashion Heals for SickKids is an event that showcases and celebrates the stories of patients, parents and staff at SickKids while raising funds for the Fashion Heals Innovation Grant. We fund out-of-the-box research projects that otherwise may not get funded. And because big problems require bold solutions, we have committed to raising $1 million before 2024 as part of the SickKids VS campaign.

On October 2nd, 2019, the fifth edition of Fashion Heals for SickKids was held at the beautiful Atrium by Ricarda’s Toronto. The show kicked off with Craig Smart serenading the audience of 400+ with his hit song Beautiful. This was followed up by our featured SickKids ambassador Stephanie, who shared the inspirational story of her journey and what SickKids means to her.

Throughout the night, our MCs from The Social, Melissa Grelo and Jess Allen, delighted us with their quick wit and warmth. Guests were also treated to a surprise appearance on the runway by Dr. Ronald Cohn, President and CEO of SickKids. Karl Wolfe closed the show and brought everyone to their feet with a medley of some of his greatest hits.

Organizing this event is both challenging and rewarding. Sometimes we feel like we’re organizing a wedding with 20 brides, but at the end of it we all keep our eyes on the prize. Every year, the committee has grown stronger and wiser, building on the success of previous editions. Some committee members have had to move on to other projects; some may think we are a bunch of crazies and run for shelter. 🙂 I think my beautiful committee members will agree that it takes major courage, determination and commitment to organize this event, but every bit of effort is worthwhile to see the smiles of the kids and the joy of their family members when the kids walk down the runway.

Sharon Taylor, Jessica Watson, Melanie Minor: you made this happen. Thank you for believing in this. We all have families, jobs and other responsibilities, but we mean business. We juggle. We jump in for other members when it gets tough. We are in it together for the long run.

The heartfelt messages we get after the event from the model squad families are unbelievable. I don’t want to share them without their consent, but if any of you #FHmodelsquads parents or attendees read this, please comment below. What has Fashion Heals meant to your family?

Of course, a huge thank you goes out to all of our sponsors, the executive committee members who spent countless hours planning to ensure the event was a success and all of our volunteers who pitched in where needed. More big thank yous go out to Ricarda’s Toronto, which provided a beautiful venue to showcase the event, to Karl Wolfe and Craig Smart for their memorable performances, and to Melissa Grelo and Jess Allen, our lovely hosts from The Social. And of course a massive thank you to the FH squad, who won our hearts and reminded us why supporting SickKids is so very important.

To date, almost $500,000 have been raised, and this year’s goal is $250,000.

Thank you to everyone who attended! We look forward to raising the bar next year and having another successful event. Believe it or not, we are already planning.

With love and gratitude,


Boosting financial literacy among Canadian Millennials

Boosting financial literacy among Canadian Millennials

In mid-2019, the total debt held by Millennials in Canada climbed above half a trillion dollars to $515.9 billion, up 12.3% from mid-2018 according to a recent TransUnion report.

Aside from being a huge number, this figure – and the rapid year-on-year increase – is worrying given that Millennials report having relatively low financial literacy. According to a PWC report, 24% of Millennials indicate having only a basic level of financial literacy while only 8% rate their financial literacy as high.


Why does this matter? Because adopting bad financial habits at an early age can have long-lasting negative consequences, from falling into a long-term debt trap to missing out on valuable long-term benefits.

The good news is that if you’re a Millennial, there’s plenty that you can do now to put yourself on track for better financial outcomes, even if you owe a good chunk of that half-a-trillion debt.

Small steps toward large goals
When it comes to your finances, little things can add up to a big impact – especially when time is on your side. Here are several financial tools and strategies that you can use to make relatively small changes with the potential for large payoffs:

  • Keep your debt to a minimum. If you have student loans, it may take you 9–15 years to pay them off according to data from the Canada Student Loans Program. While you can’t avoid this, you can do yourself a huge favour by not going further into debt. Opting for a used car rather than a new one and paying off your credit card bill in full each month will help you maintain a healthier financial position.


  • Power up your savings. If you set aside some savings each month after covering all your essentials, you’re already on the right track. However, this money won’t grow much in a simple savings account. By depositing these funds in a registered investment account such as a tax-free savings account (TFSA) or registered retirement savings plan (RRSP), you can use time and tax advantages to help your money grow.


  • Safeguard your financial well-being. When you’re young and healthy, it’s easy to feel invincible. Yet the sad reality is that many young people still suffer major accidents and illnesses each year. With disability and critical illness insurance, you can protect your financial well-being. If an injury or illness leaves you unable to work, this insurance can help you focus on recovery rather than how to pay your bills.


  • Protect your loved ones while investing wisely. Life insurance is a powerful tool for ensuring your loved ones will be protected financially when you’re no longer around while also providing you with valuable opportunities for tax-efficient investing. And because premiums are based on your age and health, the earlier you obtain coverage, the lower your premiums will be.

Personalized approach, rewarding outcomes

From finances to musical tastes to how you like your coffee, everyone is unique. Nonetheless, there are various financial milestones that many Millennials will likely face at some point in their 20s and 30s – for example, starting a new career, paying off student debt, getting married, and saving up for or buying a first home.

Regardless of where you are in your journey, boosting your financial literacy and implementing sound financial practices can help bring you closer to your goals. To discuss your path to a brighter future, contact Rubach Wealth at (647) 349-7070.


You are not the client*: How we help you help others

You are not the client*: How we help you help others

As far as taglines go, “You are not the client*” may seem an unusual message. Yet, if the new Rubach Wealth tagline makes you pause to ponder its meaning, then it’s doing its job.

When we introduced this new tagline as part of a recent rebranding effort, we hoped it would spark conversations and reflection. In this blog post, we explain the thinking behind this bold statement and how it underpins our approach to providing customized financial planning and family office services.

Helping those you hold dear

As the asterisk implies, there’s deeper meaning behind “You are not the client*” than might be obvious at first glance.

At Rubach Wealth, we work with successful professionals and business owners. However, a lot of the financial planning work we do with them is aimed at providing for others – typically the people and causes that they care about. Enter the asterisk.

In this sense, the actual client is the spouse or children or other loved ones who will benefit from the financial plans and insurance strategies that we put in place. In other cases, the true client is a foundation or charitable cause that will benefit from financial gifts aimed at supporting its worthwhile work.

No matter how successful you are, you need a financial plan to ensure that the people and causes you care about benefit in the way you want them to. A failure to plan can mean leaving behind a mess for the people you hold dearest. You can’t sort this out or influence outcomes after you’re gone – this is something you need to tackle now. Our role is to help you do what’s needed to drive the best results for the ultimate client*.

Holistic Family Advisors™

Your wealth does not exist in a bubble separate from the rest of your life. Instead, it is closely interconnected with all facets of your family, professional and personal life. We help you see the big picture and develop holistic solutions that enable you to take care of the ones you love.

In terms of services, this entails providing comprehensive financial planning and insurance strategies to help you grow, protect, enjoy and share your wealth.

In terms of experience, however, we work with you on a more profound level. We ask tough questions. We guide you through the sometimes-emotional process of financial decision-making. We dig into the complexity of your situation to shape solutions that truly fit. We draw upon our deep resource pool to deliver the support you need, and we connect you with the best external experts when something is beyond our expertise.

Ultimately, this holistic approach leads to better outcomes by ensuring greater harmony between you, your family, your causes and your wealth.

Customized service, now and always

Our recent branding refresh was aimed at achieving better alignment between what we do at Rubach Wealth and how we communicate it. While our tagline and the articulation of our guiding principles have evolved, one critical element has remained steadfast: our commitment to providing customized service.

From day one, Rubach Wealth has recognized and respected every client as the unique individual they are. We know that providing you with the best advice and holistic service starts with building a deep understanding of your life – from your family and career to your worries and aspirations. This has always been the foundation of our tailored approach to providing exceptional service, and it always will be.

If you would like to learn more about how we can support you – and help you help others – with financial planning and family office services, please contact Rubach Wealth for a consultation.

Asking the big questions to focus on the big picture

Asking the big questions to focus on the big picture


A new year has begun, and just like every year, 2018 will have its share of ups, downs and surprises. When it comes to managing your wealth, the focus is often on long-term planning to protect against short-term blips and keep you moving forward toward your goal.

But what is your goal? Is it to retire with a certain amount of money in the bank? Is it to ensure financial security for your children and grandchildren, so that they will never have to worry about money after you’re gone? Or is it to leave a mark on your community or the world?

Tax-efficient strategies for growing and preserving your wealth are an integral component of sound wealth management, but they are only a means to an end. If the management of your wealth is not guided by your values, you may one day find yourself with piles of money and no idea what to do with it.

That’s why it is crucial for your wealth planning to be driven by big-picture goals tied to your values. And to gain clarity on these goals, you need to start by asking the big questions. For example: when it comes down to it, what does wealth and money actually mean to you?

Understanding what drives you

People spend much of their life directing time and energy toward their career or business. For many, this is simply a matter of survival, but this motivation is less applicable for high achievers who are already able to meet their immediate financial needs.

To reveal what truly drives you, you need to dig deeper. This involves thinking about not only what you want to do, but also why you want to do it.

Perhaps you want to build wealth that you can pass on to your children, but what are your underlying motivations and concerns? Do you want to give them the resources to achieve incredible things in life, or are you worried that they may lack the capacity to support themselves once you’re gone? On the other hand, maybe you are grappling with how best to provide them with a comfortable life without leading them down a path toward excessive privilege or entitlement.

Alternatively, you may be motivated to build your wealth so that you can share it with others through philanthropy. Yet even here, it is important to look deeper. Is your goal simply to give as much as possible and help as many people as you can? Or do you view philanthropic giving as an opportunity to become actively involved in tackling social issues and guiding social development in a hands-on capacity?

These questions are not always obvious and the answers are not always clear, but pursuing them will lead to greater alignment between your goals and your values.


Guided by values

Your decisions and actions today will influence what happens 10, 20 or 40 years from now. To avoid reaching the finish line and looking around to see where you’ve arrived, you need to create a roadmap for where you want to go.

At Rubach Wealth, one of our key roles is to act as a sounding board for our clients as they develop this roadmap. As you uncover and make sense of your core motivations, we can work with you to translate these into meaningful, overarching goals that will frame our relationship.

We can’t predict what 2018 will throw your way, but we can help you identify any gaps in your plan and take advantage of any opportunities that pop up. More importantly, we can help you maintain your focus on the big picture and chart a course forward that is guided by the values closest to your heart.

Before you get genetic testing

The huge leaps that science has made in the last decade are amazing and undeniable.  In this particular instance, I’m referring to genetics and genetic research.  Not too long ago, people who wanted to get a genetic test done had to pay thousands of dollars.  Nowadays, pretty much anyone can get a genetic test done. All that’s necessary is internet and couple hundred bucks. To some, this seems like a no brainer. As getting the results could help address possible or impending illness at an early stage.
 If  WARNING: Before you get your own test done (or that of anyone in your family or friends), please talk to us. https://advisor.londonlife.com/public/stellent/groups/public/documents/S1_286351.pdf 
Firstly, you should also speak with your doctor to make an informed decision.
Although there is a discussion around it, please ensure you’re sufficiently insured before you do genetic testing (Read here on How to Calculate Basic Life Insurance Need).  You should consider life, disability and critical illness before you go through the test.  If you cannot afford these types of insurance, you probably should not get tested.  Let me put it differently, you cannot not afford getting coverage before getting tested. but from an insurance perspective, make sure you are covered (policy delivered and safely stored in your drawer) before getting any genetictesting done.
If you don’t have insurance (particularly young professionals depending on employers’ coverage), talk to us.  Insurance solutions are not as expensive as commonly believed and not getting coverage on time can actually have extremely expensive consequences.
For additional information, I encourage you to  watch the following video from Global News: Genetic discrimination impacts cancer patients without insurance coverage
The banning of genetic discrimination is not yet a reality in Canada.
Act now or miss out on the benefits of permanent life insurance

Act now or miss out on the benefits of permanent life insurance

Even if insurance is a topic that puts you to sleep, there is a major change coming in the insurance world deserving of your attention given its potential to significantly impact your wealth and what you are able to pass on to your loved ones.

Unless you work in the insurance industry, there’s a good chance that you aren’t aware of this or haven’t given it much thought.

Act now or miss out on Permanent Life Insurance-2

What’s Happening with Permanent Life Insurance?

On January 1, 2017, new rules will come into effect that will change how permanent life insurance policies – which have both an insurance component and an investment component – provide tax-sheltered benefits.

Broadly speaking, the new rules will result in a general increase in the cost of insurance and a decrease in the speed at which premiums can be paid into a policy.

What does this mean for you? Ultimately, you may end up paying more in taxes and enjoy less potential growth of your wealth.

Personal or Corporate Permanent Life Insurance Policy?

The rule changes will affect the taxation of all permanent life insurance policies , whether they are held by individuals or corporations. So if you currently hold a permanent life policy – or plan to set one up in the future – these changes are relevant to you.

Although corporate-held policies may be less common than those held by individuals, they offer considerable tax advantages. For corporate-held policies, the biggest change under the new rules is how old you have to be at the time of your death to receive the full death benefit on a tax-free basis. Currently, if you are 73 or older when you die, the full death benefit can be paid out tax free as a corporate dividend to your chosen beneficiaries. Under the new rules, the amount of your death benefit that can be paid out tax free will be partially reduced unless you are 90 or older at the time of your death.

Why Does This Matter?

The key thing to note is that the upcoming changes will reduce your ability to minimize tax and maximize wealth. The existing rules offer an attractive opportunity to use permanent life insurance to protect your wealth for future generations, but the clock is ticking and this opportunity will disappear as you celebrate the stroke of midnight on New Year’s Eve.

The good news: permanent life insurance policies established prior to January 1, 2017, will be grandfathered under the existing rules. As long as you set up a permanent life policy optimized for the existing rules before the end of 2016, you can lock in your access to the more favourable existing rules. However, some changes to the terms of existing policies may be treated as the creation of a new policy under the new rules and thus take away the grandfathering protection, so it’s important to get everything in order before the deadline.

What Should You Do?

The deadline may still be several months away, but the time to act is now. Insurance companies are experiencing a rush of applications as 2017 draws near and have warned that processing applications may take longer than normal.

The underwriting process – which can take anywhere from a few weeks to several months – must be completed before December 31, 2016 for a new policy to be grandfathered under the existing rules. So, now is the time to start the conversation and get the ball rolling.

Permanent Life Insurance for future generations

You may not find insurance an interesting topic, but in this instance it is a timely topic that offers an excellent way to maximize the wealth that you can pass on to future generations.

We are here to help you take advantage of this opportunity before it disappears, so we invite you to speak with us today about how we can help you grow and protect your wealth.

We have the know-how and resources to identify the right policy for your needs, help you establish a corporation if required, and work with lawyers and accountants to structure things according to your requirements.

All it takes from you is a phone call to get things started:

Rubach Wealth Permanent Life Insurance Meeting