Retirement Age
If you are turning 69 this year (or wanting retirement income earlier), you must plan and decide how to best turn your RSPs into income. Non-registered or “open” investments are very liquid.
You have 3 choices:
- Cash your RSPs out
- Transfer all or part of them to an Annuity
- Transfer all or part of them to a RRIF
You must also decide which assets to begin liquidating first. We can help you with that decision. You also need to establish a clear and concise understanding of what retirement will look like at 60, 70 and 80. We can help you establish that.
Retirement also means more than just financial planning. It may mean achieving a new balance in life. People should make the assumption that their retirement could last 30 years or more and the clearer the vision they have for what they want their future to look like, the easier it will be for them to create a plan.
When working with clients who are about to retire, we go through all of the steps in the previous section, to ensure their financial goals are met.
Already retired
If you are already retired, we know that you have special concerns. These include preservation of your capital. You want to ensure that you don't outlive your assets and income.
You are now in the position of having to effectively manage your wealth.
Through the use of our web based Globe Hysales program, combined with
our experience and expertise, we can help you determine the answers to
questions such as:
- How long will my assets last?
- How much income can I create?
- What kind of legacy can I leave?
- How will my spouse be looked after?
- Which investments should I spend first, and in what order?
- How do Government benefits factor in?
- How does my Pension Plan factor in?
- How can I lower my taxes?
- How can I transfer assets tax-free to the next generation?
- Am I invested in the right plans?
When working with clients who are retired, we go through all of the steps in the previous section, to ensure their financial goals are met.
Wealth management
We know that you have special concerns if you are already retired or if you have a substantial investment portfolio. We also offer...services for high net worth individuals. Through the use of our unique programs, we will help you manage your investments effectively. This is a brief description of the service designed for clients with a minimum $500,000 to $2 million or more to invest.
Wraps, Discretionary accounts and Managed-money programs
- Offer more control and flexibility
- Tax advantages for “open” account investments
- Portfolio diversification by county, asset class, and management style
- Written investment policy statement (IPS)
- Eliminates conflict of interest
- More frequent and detailed reporting
Contact us for more information about
wealth management.