Everyone will retire one day, so let us help you reach the retirement of your dreams. Through proper planning we will help you coordinate your savings with your government and personal pensions to ensure the most tax-efficient retirement.
Dreams are exciting, aren’t they? We all have visions of what we would like our life to be like once we’re done with our career. Some time between now and that day that dream needs to turn into your reality. That’s where Vancea Financial Group comes in.
The first step is a more practical look at what your cash ﬂow needs will be. Of course you can’t see into the future, so together we can estimate those future retirement needs. Our expertise around expected rates of return, inflation and spending habits will make that picture clear so that we can design a retirement savings plan with the greatest chance of getting you there.
We’re not done yet. Your retirement savings plan is incomplete without a discussion about the risks associated with the plan. What if your income changes drastically? What if you choose to retire earlier? Or later? What if someone close to you gets sick? What if your return is higher than anticipated? Or lower? We can apply a multitude of scenarios to test the elasticity of the plan and your comfort level with the results. We can design contingency plans but perhaps more importantly, we are committed to regular update meetings with you to ensure your dream is always on track.
And finally, our discussion will address the tax implications of your retirement. Your tax bracket will change over time, especially as you begin your retirement. Comparing your personal savings (RRSPs, TFSAs and properties) and any pension plans you might have to the anticipated government assistance programs (CPP and OAS) will allow us to plan the order of your asset liquidation. Minimizing your tax burden is a big part of your financial freedom in retirement, so let us walk you through that.
Your retirement vision is impacted by numerous financial risk factors and variables now and in retirement. Your Vancea Financial Group Advisor can help you understand them all.