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Retirement is a significant life milestone that requires thoughtful planning. At Mahrt Investment Group, we understand that retirement planning is not just about the future; it’s about balancing your present and future goals. We believe in taking a comprehensive approach that considers all aspects of your financial well-being.
The first step in creating a retirement plan is to outline your goals for retirement. However, we recognize that your goals for the future should not come at the expense of your goals for today. That’s why we take the time to understand your unique aspirations, both short-term and long-term, and build a savings and investment strategy that aligns with each.
In retirement planning, we typically focus on two distinct phases: accumulation and decumulation.
During the accumulation phase, our primary focus is on strategically building your retirement savings through proactive savings strategies, including contributions to your FHSA, TFSA, and RRSP. We recognize that this phase of life is characterized by significant milestones, such as home ownership, marriage, children, and entrepreneurship, which may impact your financial priorities. Working together, we will create a personalized savings strategy that aligns with your income, expenses, and risk tolerance. By exploring investment options with growth potential and effective risk management, we will provide guidance to help you make well-informed decisions and steadily increase your retirement savings over time. Our comprehensive approach aims to ensure that you can build your retirement fund while also enjoying the journey and achieving your current financial goals.
What you may be thinking
What you may be thinking
Once you reach retirement, the focus shifts to generating income from your accumulated savings. This transition can bring about a certain level of uncertainty as you adapt to the absence of employment income. At this stage, our role is to assist you in developing a sustainable income stream through systematic withdrawals that align with your desired lifestyle in retirement, providing you with peace of mind. We will work closely with you to coordinate various retirement income sources, including Old Age Security (OAS) and Canada Pension Plan (CPP) benefits, pension plans, annuities, and investment withdrawals, to ensure optimal income generation. Throughout this process, we will also address tax implications and implement strategies to preserve your wealth for the long term. Our goal is to help you achieve a comfortable and fulfilling retirement, where your financial needs are met while safeguarding your financial future.
Throughout both phases, we emphasize the importance of periodic review and adjustments to your retirement plan. We understand that life is dynamic, and your goals and circumstances may change over time. By maintaining an ongoing partnership, we can adapt your retirement plan to accommodate these changes, ensuring that it remains aligned with your evolving needs and market conditions.
Retirement Withdrawal Strategy
Developing a systematic approach for withdrawing funds from your retirement accounts to ensure sustainable, tax-efficient income
Timing Your CPP and OAS
Analyzing various strategies for claiming CPP and OAS benefits to maximize your lifetime income
RRIF Conversion Analysis
Evaluating the optimal timing for converting your RRSP into RRIFs, considering tax implications
Saving Location Analysis
Evaluating the most tax-efficient placement of your savings across different types of account
Lifestyle Abilities Analysis
Assessing your desired lifestyle in retirement and determining the financial resources needed to support it
Longevity Planning
Incorporating considerations for longevity and potential long-term care needs into your retirement plan
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. Insurance products are offered through Wellington-Altus Insurance Inc. which is a separate company and not an affiliate of Wellington-Altus Private Wealth.
© 2023, Wellington-Altus Private Wealth Inc. ALL RIGHTS RESERVED. NO USE OR REPRODUCTION WITHOUT PERMISSION.
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