Comprehensive Financial Planning

Comprehensive financial planning is structuring your financial affairs in a way that connects the different pieces of your finances into one cohesive structure. This includes:

Retirement Planning:

Retirement planning is the process of determining retirement income goals, and the decisions and strategies necessary to get you from where you are, to where you want to be. Establishing your expenses in retirement and then factoring in all sources of income during retirement allows us to determine which accounts to contribute to for savings, and what to invest those funds in. Future cash flows are estimated to gauge whether the retirement income goals will be achieved and what you need to do in order to achieve them.

Retirement planning is a life-long process. As your life and income ebbs and flows your planning should adjust. No one can predict the exact course your life will take which is why it’s even more important to have ongoing updates and make adjustments.

Retirement Income Planning:

Your retirement income plan will be unique. No two retirements have the same tax considerations, pensions, investment accounts and preferences. We’ve never met two clients who have the exact same goals regarding travel, hobbies and all the different aspects that make up your life during retirement.

A retirement income plan is the tax efficient structuring of your different financial assets to provide an income that allows you to maintain your desired lifestyle and without worrying about running out of money.

Examples of assets for retirement include Government and Personal Pensions, RRSPs, Lock-In Retirement Accounts, TFSAs, Non-Registered investments, Real Estate etc. Understanding how to draw down on these assets in a tax efficient manner is the key to a financially successful retirement.

Tax Planning:

Integrating your tax situation into your overall financial planning can save thousands of dollars each tax year, and hundreds of thousands or millions over a lifetime.

Proper planning and integration can be easily managed and will have a significant impact on a family’s overall after tax returns. From tax efficient investments, to tax structures with Trusts and Corporations, our advisors have advanced knowledge in strategies for minimizing and mitigating tax and the ability to apply those strategies where appropriate.

Risk Management:

Also know as the “defensive” side of financial planning, personal risk management and insurance planning is what ensures that the “what if’s” in life don’t derail all the hard work you’ve put into building up your assets.

Life Insurance is used to protect your family’s income, Disability to protect your ability to pay bills should you get sick or hurt, Critical Illness to protect your family finances if you are diagnosed with a life threatening illness, and Long-Term Care if the event that you, your parents or grandparents require assisted living during the later stages of life.

Estate Planning:

No financial plan is complete without a proper estate plan. This could be as simple as ensuring your have proper structured Wills, Personal Directive and Power of Attorney documents, or more complicated involving Trusts, Philanthropic Giving or establishing a Foundation.