Retirement Planning

Everyone has his/her own approach to saving, depending on your stage of life. New graduates and young couples have different needs compared to retirees and mid-career families. Regardless of your personal situation, we will work with you to ensure your financial habits lay a strong foundation for your savings strategy, so you will achieve your retirement goals.

For example, younger individuals have lower insurance costs and a longer investment horizon, combined with fewer responsibilities. This can make for an excellent start for a sound financial foundation. We will help you build on these advantages.

Couples planning a family or those who already have young children should know they can save for a child’s education using specialized insurance and investment products such as a Registered Education Savings Plan.

Mid-career professionals typically have higher incomes than younger investors, but they also have more responsibilities. Whether it’s your mortgage payments or financing education, we will work with you to create your customized financial plan to balance your needs and obligations.

Retirees, after working during their career years, are now ready to enjoy their leisure time. Most likely, the children have moved out, the mortgage is paid off and investments are growing nicely. However, earned income levels may have dropped in retirement, replaced by CPP, OAS and any other income streams. With a solid plan, financial independence is the objective.

Lifetime Income Need

There is a lifetime after retirement and the need for a steady stream of income that cannot be outlived is essential. With the possibility of paying for retirement needs for as many as 20 years or more, retirees need to be concerned with maintaining an income stream to cover their cost-of-living.

Health Care Needs

Longer life spans can translate into added health issues. Planning for long-term care, in the event of a serious disability or chronic illness, is key to stress-free retirement planning.

Estate Protection

Planning for the transfer of assets at death is a critical element of retirement planning, especially if any survivors are dependent on the assets for their financial security.  In addition, larger estates may be confronted with settlement costs and sizable death taxes which could force liquidation if proper planning is not executed.

Contact us today to help create your plan so you can enjoy your financial independence in the years to come.