The surveys and statistics are overwhelming. Most Canadians are entering Retirement with no plan. Maybe that's not entirely true. Because no plan is a plan - it's a plan to fail!
The fact of the matter is that most Canadians do not plan to retire. It just happens. You show up for work one day and they tell you that you are being phased out. Here's a package and good luck!
That actually happens far more often than you realize. Apparently, most of Canadians don't even like the word Retirement. It's now the "R" word. So, let's assume you do want to "R" word, what are the critical conversations you should be having?
Clarity around your Values - in Writing
- What's important to you about money
- Are you and your spouse on the same page financially
- Spend it all or keep some as an inheritance
Clarity around your Goals - in Writing
- What's on your bucket list
- What's your Ideal lifestyle
- Travel or stay put
- Start a business, volunteer, vacation property, mission, paint, teach
Simplify Finances - Getting Your Financial House in Order
- What do you actually need to keep
- Where are all your documents
- How do you apply for CPP and OAS or other pensions
- Do you still need life insurance
- How will you pay for medical expenses
Simplify Finances - With a one page summary
- Sources of income
- Sources of debt
- Insurance
- Expenses
Understanding Fees - Costs and Value and impact on your Plan
- What is your total cost of investing/planning
- Are you getting value from those fees
Quality Retirement Plan - The value of a properly written plan
- How will a Retirement Plan help
- How does it save me time and money
- Is it comprehensive (income, taxes, debt)
- Does it coordinate with the other professionals You need
- Will it be shared with the whole family
- How often will it be updated
There is more to a Quality Retirement Income Plan than you can imagine. There are too many scenarios to cover them all. A quality retirement plan can save you and your loved ones a lot of grief down the road. Planning now can save you on needless fees. Save on family conflicts. Save time.
Attend one of our seminars on Retirement Income Planning Strategies - Click here for more details!
Want to retire in the next few years? Click here to Book
Your Retirement Income Planning Specialists,
Willis and Nancy Langford
