Planning for retirement is an exciting time and our team of trusted advisors helps you make some important decisions to realize your dreams.
Will I have enough money to last through my retirement?
How much you’ll need to save for retirement depends on your current income and the lifestyle you want to enjoy when you retire. As a general rule, retirement income should be about 70% of your final pre-retirement annual income to live comfortably. This can be adjusted up or down depending on other sources of income, such as CPP, OAS, pensions, part-time employment and factors like your health and desired lifestyle.
Are my investments growing fast enough so I can retire when I want to?
It’s important to have a plan so that your portfolio is meeting your expectations and continues on that path as you approach retirement. At Seven Elements, our team of experts helps you build financial security, independence and freedom so you can get on with living that richer life now.
How do I know if my money will last throughout my retirement? I don’t want to run out of money.
Planning for retirement and paying yourself from savings can be intimidating. Switching your mindset from saving to spending can cause emotional stress and anxiety as concerns surface whether the money will last.
At Seven Elements, we help you through all the process and provide guidance on your retirement finances and life decisions. From pension plans to when to start taking government income to how to structure different investments, we’re here to help determine the best options to give you the retirement you desire. You gain the sense of comfort that comes from feeling more secure in your finances so you can enjoy your retirement years.
Is my money safe even if the market takes a downturn?
We work with your Portfolio Manager to make sure that your investments are structured in a way that will protect you in a downward market and allow for you to uncover opportunities as they arise. Having the peace of mind that your investment strategy helps you accomplish specific goals is a huge comfort when investment markets are in turmoil.
How do I plan my estate to ensure it transfers to my family and the causes I care about while minimizing taxes?
If you don’t plan your estate with tax efficiencies in mind, the impact of income taxes can be considerable upon your death. Taxes can diminish your legacy and leave your loved ones with far less than you expected. These taxes generally arise from the ‘deemed disposition’ of property as well as provincial probate taxes. Understanding which assets are taxable and non-taxable and where taxes can be deferred is key. At Seven Elements, we can help you implement strategies that may help reduce the potential impact of the income tax your estate may face when you die.
