Your Retirement Road Map: How to Make the Transition to Retirement

Transition to Retirement

White Paper INTRODUCTION Likely you have worked most or all your adult life, often for over 30 years. At some point you will be looking to make the transition to retirement, or perhaps have the ability to make work optional. Typically, when you first started to work, your largest financial asset was your ability to […]

Six Unique Risks to Retirement Income Planning

Risks to Retirement

As part of the retirement income planning puzzle, there are several unique risks or challenges that you must account for in your planning for retirement that are different from the risks when simply saving for retirement. Unknown Time Frame – Longevity Risk: No one knows how long they will need their income to last, but […]

What should you expect in regular progress meetings with your advisor?

Regular Progress Meetings

Regular progress meetings should be scheduled during the year to update and adjust your retirement income plan. Your advisor should behave more like a guide to help you navigate the changes in your life by adjusting your Retirement Road Map to keep it on track. As part of this effort, a regular and ongoing review […]

How do you Create a Retirement Road Map?

Creating Retirement Road Map

Once you have found a financial advisor that specializes in retirement income planning, they should be able to guide you through the process using a series of meetings that will: Identify your values and what is important to you. Determine what your retirement goals and income requirements are. Discuss your other goals that require planning […]

Where do Financial Advisors work?

Financial Advisors

If you are unwilling to create and manage your own Retirement Road Map, you will want to find an advisor that specializes in working with people who, like you, are planning for the transition to retirement or who may already be retired. A report from July 2014 called “Sound Advice Insights into Canada’s Financial Advice […]

Planning your Will and Powers of Attorney

Will and Power of Attorney planning

A common question we received is what we should consider when planning our wills and powers of attorney.  The following excerpt from the Book – Preserving Wealth describes this. APPENDIX C: PLANNING YOUR WILL AND POWERS OF ATTORNEY Introduction This document contains background information regarding the planning of your Will and Powers of Attorney. Its […]

Retirement Income Withdrawal Strategies

Retirement Income Withdrawel Strategies

Retirement Income Withdrawal Strategies In our conversations with people making the transition from their working years to retirement, many have done a great job of saving over time. They end up with many potential retirement-income sources but are unsure of how to put it all together.  As a result, retirement income planning has been compared […]

What is the Tax-Free First Home Savings Account?

Tax Free First Home Savings Account

In the 2022 Federal Budget, the federal government proposed a new savings vehicle for first-time home buyers. The Tax-Free First Home Savings Account (FHSA) is a registered account designed to help individuals with savings for their first home. Eligbility You must be a Canadian resident and: Be 18 years of age or older, Have not […]

Ontario Staycation Tax Credit

Ontario Staycation Tax Credit

If you are travelling in Ontario this year, be sure to keep track of your accommodation expenses as they can help you reduce your taxes. For 2022 Ontario has introduced a tax credit up to 20% of your accommodation expenses for stays in a hotel, campground, and/or cottage. WHAT CAN YOU CLAIM: You can claim up […]

Why Invest in the Stock Market?

Invest in the Stock Market

With the current stock market gyrations, people may wonder why they should invest in the stock market at all since stocks are not guaranteed and their values can go up and down.   To help frame it better, it may be useful to replace the words “stock market”  with the word “companies.”  If you own a […]