Retirement Planning
Early retirement planning is crucial because it often takes several years to accumulate the wealth needed to live comfortably when you no longer have the benefits of a salary or income from your business. If you start investing early in your working life, funds will compound and grow over the next decades, providing you with substantial resources to navigate your retirement years. Our team can assist you in developing a retirement plan as well as optimizing and utilizing various financial instruments (such as TFSAs, RRSPs, RRIFs, and so on) to help you achieve your objectives.
If you are in the process of accumulating wealth, Degelman Pruden Wealth can guide you through the process and help you answer the following questions:
- When do you intend to retire, and how much capital will you require to maintain your desired lifestyle?
- Do you know what the required rate of return on your portfolio is to meet your capital requirements?
- Do you know what asset mix and risk tolerance you'll need to achieve your desired rate of return?
- Do you know what your after-tax rate of return on assets is?
- Have you created a comprehensive financial plan that accounts for all of these variables, and have you reviewed it in the last three years?
- Are you aware of how the economic and tax landscape is changing, and what asset mix is best for these times?
At Degelman Pruden Wealth, we believe that developing a comprehensive financial plan that meets your goals and objectives should start with a thorough examination of your current financial situation and desired future. Starting from a place of understanding allows us to determine what types of financial tools, instruments, and opportunities will best help you achieve your financial goals.
If you are a business owner, executive, lawyer, doctor, or engineer, for example, there are several questions that, once answered, can help you save money.
- Are you splitting your income with your spouse as efficiently as possible in order to reduce taxes?
- Have you optimized your compensation structure so that you pay the lowest tax bracket possible?
- Are you aware of the additional tax credits that an Individual Pension Plan (IPP) can offer over a Registered Retirement Savings Plan (RRSP)?
- Are you making strategic investments in the most efficient way possible in order to achieve and optimize tax outcomes?
Degelman Pruden Wealth will assist you in making informed decisions and methodically planning to ensure that you build, protect, and secure your wealth.
Today is the best day to take charge of your financial future.
The information contained herein has been provided for information purposes only. The information has been drawn from sources believed to be reliable. Graphs, charts and other numbers are used for illustrative purposes only and do not reflect future values or future performance of any investment. The information does not provide financial, legal, tax or investment advice. Particular investment, tax, or trading strategies should be evaluated relative to each individual’s objectives and risk tolerance. This does not constitute a recommendation or solicitation to buy or sell securities of any kind. Market conditions may change which may impact the information contained in this document. Wellington-Altus Private Wealth Inc. (WAPW) does not guarantee the accuracy or completeness of the information contained herein, nor does WAPW assume any liability for any loss that may result from the reliance by any person upon any such information or opinions. Before acting on any of the above, please contact your financial advisor.
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