Retirement Planning Checklist

Retirement Income Planning, Calgary

Our job is to help you get and keep your total financial house in order so that you can confidently start living your ideal retirement lifestyle with total peace of mind. Here's a checklist of the items that we deal with in our planning process. Obviously, not every item applies to everyone. Go through the list and determine how many of these items you would like help with. If you checking a lot of the boxes then you would definitely benefit from our comprehensive planning process.

 

Retirement Planning

__ How much do I need to retire by a certain age?
__ How much do I need to save each month to achieve my goals?
__ How much can I afford to spend in retirement?
__ How can I maximize my government benefits like CPP and OAS?
__ What options should I choose for my defined benefit (DB) pension?
__ Should I take a lump-sum commuted value payout from my pension or a deferred monthly benefit?
__ Should I save using an RRSP or TFSA?
__ When should I start RRSP withdrawals or convert to a RRIF??
__ How do we split our income in retirement?
__ How do I create an income in retirement?

__ Should I get an annuity?

 

Investments

__ What types of investment accounts should I have?
__ How much should I contribute to different accounts?
__ Should I save in my name or my spouse’s name?
__ What types of accounts should I open for my kids?
__ Should my investment accounts be joint?
__ Should I pay down debt or invest?
__ What kind of investments can I have in a corporation?
__ Should I buy or sell a rental property?
__ What is my risk tolerance?
__ Is my asset allocation appropriate?
__ Has my investment performance beat the markets?
__ Are my investment fees reasonable?
__ Should I be a DIY investor?
__ Is my investment advisor a good one?

 

Tax Planning

__ How do I pay less tax today?
__ How do I pay less tax over my lifetime?
__ How do I split income with family members?
__ How do I pay less tax on my investments?
__ How do I fund my retirement in the most tax-efficient manner?
__ How do I reduce capital gains tax on my cottage?
__ Should I take a severance or salary continuation?
__ Should I set up a corporation?
__ Should I pay myself a salary or withdraw dividends from my corporation?
__ Should I set up a holding company?
__ Should I establish a family trust?
__ Should I issue shares of my company to my children?
__ Should I wind up my corporation?
__ How do I plan for the sale of my business?

 

Insurance

__ Do I have enough life insurance?
__ Do I have the right kind of life insurance?
__ Do I need disability insurance?
__ Do I need critical illness insurance?
__ Should I buy health insurance?
__ Should I cancel my insurance policy?
__ What type of insurance do I need in retirement?
__ Should I buy insurance for my kids?

 

Estate Planning

__ Should I have a will?
__ What assets will pass through my will?

__ How can I reduce probate fees?
__ What beneficiaries should I name?
__ Should I own assets jointly?
__ Should I transfer assets to my children now or in the future?
__ How do I make a plan for the family cottage?
__ How do I make a plan for the family business?
__ Should I consider an estate freeze?
__ Should I add my name to a parent’s account?
__ How do I minimize probate fees?
__ Should I worry about U.S. estate tax?
__ What is a power attorney for property?
__ What is a power of attorney for personal care?
__ Should I establish a trust?
__ How do I maximize my charitable giving?

 

Click here to get a PDF copy of this list

 

How can we help?

We are a husband and wife team and we work exclusively with singles and couples over age 55 who want to get their total financial house in order, get on the same page, and start living the life they have always dreamed about. We want to help you - to move forward and retire with confidence.

Our job is to help you get and keep your total financial house in order so that you can confidently start living your ideal retirement lifestyle with total peace of mind.

Click Here to learn more about our fee-only process for creating your financial roadmap for retirement, getting your total financial house in order, and living a life that inspires you. If you would like to get started book an appointment now.

 

Schedule Appointment

 

Fee-Only Retirement Income Planning Exclusively for Those 55+

Willis J Langford BA, MA, CFP

Nancy Langford CRS 


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Latest Testimonial

I contacted Langford Financial to see if they could help me with specific questions on retirement & estate planning, efficient tax strategies, CPP and OAS benefits, and income drawdown strategies. I was very nervous at first about whether they would be a good fit for my needs, but my concerns were quickly put to rest and Willis and his team made me feel at ease right from the very first meeting.

They are very easy to work with, are very knowledgeable and resourceful, are able to break down complex matters into an easy-to-understand manner, and are always quick to respond to any questions. They reviewed my situation and were able to tailor a plan to fit my specific needs, to my complete satisfaction.

The plan included amongst other things, the best way to utilize efficient income tax strategies. helped me to understand the correct drawdown of assets which would result in larger savings, and provided guidance on insurance products and efficient estate planning.

As a result, I have a much clearer picture of my financial situation now and feel very confident and satisfied with the plan that they have proposed for me, going forward. What I appreciated the most about Willis and his team was that, in addition to their friendly, personable and professional approach, at no time was there ever any pressure to purchase any products.


I am very happy with the service I received from Willis and his team and would recommend Langford Financial to anyone looking for advice on their retirement planning needs. You will not be disappointed!

Naila Jinnah

Naila Jinnah
Fee-Only Planning Client

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