Financial
Planning
You need Financial Advisor to help you develop an effective financial strategy.
Personal financial advising focuses on you as an individual – bringing together all the financial and psychological factors that have an impact on your life.
Complete Financial Needs Analysis Process
Many people call themselves a “financial planner”, but a true Financial Advisor uses the Complete Financial Needs Analysis Process, which is made up of six distinct steps.
Clarify your present situation by collecting and assessing all relevant financial data – assets and liabilities, tax returns, records of securities transactions, insurance policies, wills and pension plans.
Provide you with written recommendations and alternative solutions. These should be structured to meet your needs without undue emphasis on purchasing specific investment products.
Help you to identify financial and personal goals and objectives, and also to clarify your financial and personal values and attitudes.
Assist you to implement the right strategy to ensure that you reach your goals and objectives.
Help you to identify financial problems that can create barriers to your financial independence.
Provide a review and revision of your strategy to ensure that you achieve your goals.
Do you have enough assets to enjoy your preferred lifestyle?
After years of living the “rat race”, you are looking forward to the day when you can start living on your own schedule. Being a good employee is important, but eventually you will arrive at the day when you are the boss.
When considering a retirement plan it is critical to think about the three phases of retirement planning.
Accumulation
A good retirement plan starts on your first day in the working world. This is the accumulation phase. The earlier you can start saving, the more your money will have a chance to compound throughout the years. However, most young people don’t have huge incomes, so this is a challenge.
Pre-Retirement
Ironically, you make the most amount of money just before you retire, so there is less of a chance for it to have time to compound. But don’t let this discourage you.
Retirement
At this point, you will be concerned with income and wealth preservation. Growth will take a backseat so you can focus on paying the bills with the proceeds from your nest egg.
With careful planning, you can make sure your money outlasts you.
There are many different options available: RRSPs, TFSAs, CPP, annuities, investment funds and more. All of these things exist to help you grow your assets so you can invest in your future.
Financial Advisor can help. A Financial Advisor can help you sort through your priorities, goals, and risk tolerance levels so you can make the decision that is the best one for you.