Retirees
Retirement is not "the finish line" of a financial plan - far from it.
For the next 10, 20, 30 years or more, you must balance current income versus long-term capital needs. You want to maximize income while minimizing taxes and clawbacks to your hard-earned government benefits. You want your income to continue to grow to protect your purchasing power. (Inflation doesn't care that you no longer collect a regular pay cheque!)
At this time of life, protecting your capital assets from both market and personal health risks is critical.
For the next 10, 20, 30 years or more, you must balance current income versus long-term capital needs. You want to maximize income while minimizing taxes and clawbacks to your hard-earned government benefits. You want your income to continue to grow to protect your purchasing power. (Inflation doesn't care that you no longer collect a regular pay cheque!)
At this time of life, protecting your capital assets from both market and personal health risks is critical.
- Maximize tax-efficient income to reduce taxes and government clawbacks
- Project retirement lifestyle and income needs
- Assess personal tolerance for risk
- Determine appropriate asset allocation
- Strategic use of tax-deferred (RRSP/RRIF) versus tax-free (TFSA) versus tax-efficient accounts
- Build/monitor/update your investment portfolio
- "Market-proof" some or all of your investments
- Determine best strategies for income generation
- Plan for tax-efficient intergenerational transfer of significant family assets
- Increase your peace of mind regarding your family’s long-term financial well-being.
And if a legacy or inter-generational transfer of your assets is important to you, you'll want to ensure this is done in the most tax-efficient manner.
