Tag: Cashflow

One of the most important decisions a retiree must make is how to create an income and cash-flow strategy from the financial assets they have accumulated over their lifetime. By Jack Lumdsen, MBA, CFP® This can be challenging as you may have numerous sources of potential cash flow such as: Old Age Security and Canada Pension Plan Company pension plans RRSPs, RRIFs, Locked in RRSPs Tax free savings accounts (TFSAs) Annuities and guaranteed income products Non-registered investment accounts HOLDCOs  Each of the above cash-flow sources can have different start dates and a retired couple could easily have to decide on how and when to start the income or cash flow from 6 to 12 sources or more. Why is this important?  Your income and cashflow strategy will affect your: income and cashflow spending today  the tax you pay today, and in the future availability of government income credits and benefits over time how long your investment assets will last success rate of your plan  our estimated estate value for the next generation Income vs Cashflow In retirement, there is a...