Services & Solutions | Retirement by Design

By: Retirement By Design  09-12-2011
Keywords: Financial Planning

Financial Planning

Financial planning is more than a set of tactics – it’s a process that determines how you can best meet your life goals through proper management of your financial affairs. Your needs define your plan – not vice versa. Professional financial planning integrates knowledge and skill across a broad range of topics. The key is to look at the big picture and identify interrelationships among sometimes conflicting objectives. It’s important to review your plan annually and update it after a major life event.

Registered Retirement Savings Plans

Tax-Free Savings Accounts

Registered Education Savings Plan

Cash Accounts

A Cash Account is an investment account that is not an RRSP, RRIF, TFSA or RESP. This is type of account holds stocks, exchange traded funds, bonds, mutual funds, segregated funds, term deposits and, yes, cash. Investments in a cash account are subject to tax on interest, dividends and capital gains.

Referrals for Tax and Wills Strategies

While engaged in retirement design we work with our clients’ accountants and lawyers. When appropriate we will refer our clients to specialists in estate and tax planning.

Disability, Critical Illness and Life Insurance

Planning for the future involves considering strategies that ensure continued income for yourself, your business and your family. Without a systematic, disciplined and comprehensive strategy your lifestyle and standard of living could be at risk.

Financial Planning

Financial planning is more than a set of tactics – it’s a process that determines how you can best meet your life goals through proper management of your financial affairs. Your needs define your plan – not vice versa. Professional financial planning integrates knowledge and skill across a broad range of topics. The key is to look at the big picture and identify interrelationships among sometimes conflicting objectives. It’s important to review your plan annually and update it after a major life event.

Estate Preservation

Preservation denotes the most cost-effective ways to pass your estate to your heirs. Ensure your property goes to whom you want, in the way you want, and when you want it transferred. A little advance planning will minimize taxes, court costs and legal fees. The first step to make sure you have a durable Power of Attorney and a Will.

Registered Retirement Savings Plans

Registered Retirement Income Funds

A Registered Retirement Income Fund (RRIF) is a tax-deferred investment plan. A RRIF can be created tax-free with the proceeds of a Registered Retirement Savings Plan (RRSP) or another RRIF. A RRIF can be opened at any age. A minimum amount must be withdrawn and taxed as income every year. The minimum amount to be withdrawn is determined by a formula that takes the age of planholder or spouse into consideration. Withdrawals can extend over the lifetime of the planholder or spouse. You can access your principal at any time, tax-free.

Life Income Funds

A life income fund (LIF) is a specific type of registered retirement income fund (RRIF) from which you can withdraw a retirement income. Funds originate from a supplemental pension plan. You cannot withdraw more than an authorized maximum amount each year from an LIF. You must withdraw the minimum required under tax rules.

Tax-Free Savings Accounts

Annuities

An annuity is an investment contract that offers a series of guaranteed payments over a fixed number of years or the lifetime of one individual or more.

Segregated Investments

Classified as insurance products, segregated funds (sometimes referred to as Guaranteed Investment Funds or GIFs) offer several unique characteristics, such as: an ability to lock in gain; principal guarantees; death benefit guarantees and potential creditor protection. Segregated funds can play an integral role as part of a comprehensive financial plan.

Referrals for Taxes, Wills and Business Succession Planning

When appropriate we refer our clients to specialists in estate and tax planning.

Disability, Critical Illness and Life Insurance

Planning for the future involves considering strategies that ensure continued income for yourself, your business and your family. Without a systematic, disciplined and comprehensive strategy your lifestyle and standard of living could be at risk.

Keywords: Financial Planning

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