Protecting Your Family – Insurance
Excerpts from the Book – Preserving Wealth – written by Jack Lumsden, MBA, CPA® How much Life Insurance do we need? “ A common rule is the amount of life insurance you need is linked to the amount of capital it would take to: What you have to remember is that you’re not really insuring […]
What Are the Retirement Income Investment Options?
As you transition from your working years to retirement or optional work years, creating a cash flow stream from your investments is critical to retirement planning. There are five main retirement investment options to consider when developing a prudent plan for retirement cash flow: Income Only Investing, Income Focused Investing, Guaranteed Income Products, Total Return […]
Strategies when Receiving an Inheritance
Excerpts from the Book – Preserving Wealth – written by Jack Lumsden, MBA, CFP® Having a reputable Financial Advisor is a good start. For the short term, one should be looking both at the safety of the money and at the interest rates they can earn. “If you deposit the money at your bank or […]
Resources to Review As You Approach Retirement
As you reach your mid to late 50s and early 60s (and as you look in the mirror), you begin to realize you are closer to the end of your career than the beginning. You start to take a closer look at your finances and wonder if you will be able to retire at some […]
How Do You Develop a Diversified Portfolio?
A common question people have when we initially meet is, “How do you develop an investment portfolio?” Many people have a basic understanding of the difference between income and equities but are unsure of how to put it all together. When approaching retirement or in retirement, there are six key factors to developing a globally […]
4 Things Retirees Should Know About the 4% Rule
When people are looking to make the transition to retirement, they want to know how much they can spend each year without running out of money. The amount of capital you can safely withdraw from your portfolio each year without running out of money has been called the “Safe Withdrawal Rate.” There is something called the […]
Your Retirement Road Map: How to Make the 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 […]
How do you Create a 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 […]
Retirement Income Withdrawal 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?
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 […]