Most families rely on one or two sources of employment or business income in their working years. In retirement, for many couples there are 5+ sources of income that need to be coordinated and optimized for both risk management and to minimize tax.
Why do we refer to them as projections?
The intent is not for these future values to be exact (they won’t be!). The projections will allow for you (and us) to identify problems or opportunities with your investment, income taxes, estate wishes, etc. to visualize where you’re heading, and provide confidence in your decision making. This process is both qualitative and quantitative. Consider;
Lifestyle & Values
- When can we retire?
- What will we do in retirement?
- How much will we spend?
- Will we work part-time? For how long?
- How long do we plan for… How is our health?
Finances
- Which accounts (and when) do we withdraw investments to provide our retirement income.
- Will inflation erode my savings?
- What is the rate of return we can expect on our investments?
- How much will we pay in income tax each year? At death?
- When do we take Canada Pension Plan (60-70)?
- When do we take Old Age Security (65-70)? Will it be clawed back?
Contact us to set up an introductory call or meeting and learn more about how we help our clients find the peace of mind to enjoy their retirement.
Calculate Your Retirement Potential
Understanding your financial situation can be difficult. With just a few questions you can calculate your current financial position and identify your top priorities.