Retirement plan
It doesn’t matter whether you are 30, 50 or 75 and already retired,
you should have a retirement plan.
ASK YOURSELF THIS
Do you know how much your investments will be worth in 10, 20 or 30 years from now?
In retirement, do you know how much you can spend monthly without running out of money?
Do you know at what age you will be able to retire with the level of comfort you envision?
02
REASONS WHY
Four reasons you need a Retirement Plan
No matter your age
Wealth Visibility
During retirement, you are moving from an accumulation phase to de-accumulation, with many changes in daily habits. Visibility helps you set realistic goals, identify opportunities and plan for the unexpected. A good retirement plan gives you a clear idea of the amount of money you will need, your sources of retirement income, your estimated future cash flow, as well as the best financial strategy to get there.
Tax optimization
Taxes are the highest expense for most Canadians. Planning helps identify where you’re paying too much in taxes but also where you’re paying too little and missing opportunities to optimize your future income at retirement.
Navigating through life changes, good and bad
Receiving an inheritance, losing a loved one or even selling a business. Sudden or unanticipated events can cause intense emotions such as excitement, stress or anxiety, just at a time when you need to make important decisions. Having a good plan helps you fight a natural propensity to emotional decisions and stay focused throughout time.
Ultimately, it helps you avoid costly impulsive decisions.
Peace of mind
In times of market volatility or important life events, a retirement plan gives you comfort in knowing you are on track to your long-term objectives.
The plan also addresses any underlying worries or fears (e.g. the possibility of long-term disability or critical illnesses), as well as desires and dreams (e.g. increased travelling and charitable giving).
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YOUR ROADMAP
Our 3 steps to building a Retirement Plan
The first step is a conversation to understand when you would like to take your retirement and what lifestyle you envision for your retirement.
We also need to understand your dreams and fears. What changes do you foresee in your life, and what are your priorities.
- We build a plan considering your current and future sources of income, your saving rate, your current investments and assets and their expected appreciation over time.
- We consider market cycles and how they will affect the value of your investments. We also create different scenarios considering possible events impacting your spending rate or the value of your assets.
- After contextualizing your situation, we detail a plan optimized for you. You will be able to visualize your situation, including your expected retirement age, sources of income and decumulation strategy for tax efficiency.
We set periodic reviews (normally every 3 years) to ensure your plan remains adequate for any major life change.
