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Retirement Planning while Life Keeps Changing

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Holistic Financial and Retirement planning: introduction to personal and family security now and for Life.

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Retirement Planning while Life Keeps Changing

  1. 1. RETIREMENT PLANNING WHILE LIFE KEEPS CHANGING Brian Weatherdon Certified Financial Planner, Retirement Coach Brian@SovereignWealth.ca 905-637-3500 x 223 1
  2. 2. 1. “Values” in our Journey of Life and $$ • Where are you today? • Looking forward: • What is most important to you . . . ? • Why? What would it mean for you to get . . . ? • Who else is part of this picture for you - now & future? • Video fast-forward: where are you in 2, 10, 25 years? • Any gaps? … what needs to happen? 2
  3. 3. Finding the next steps in life’s journey to achieve your hopes, dreams and desires. 3
  4. 4. 2. How safe is your pyramid? 4
  5. 5. 3. TFSA – flexible and tax-free 5
  6. 6. 4. RRSP – personal &/or group • Growing like picture in #3 • Tax-refund (taxed in later years) • Strategies for 4%, 6%, 8% ... (risks of less/more) • Your Goals: home? learning? retirement? All 3? • Where you may already have savings … • Adding further strength for the years ahead … 6
  7. 7. 5. What is the real truth about “Risk”? • Risk of losing your money • Risk of not growing your money • Risk of being unable to buy a future • No money for life-changing emergencies • What events can arise that you will need money? • Is money trapped, inaccessible, when you need it? 7
  8. 8. 6. Investing – a pool of emotional risks 8
  9. 9. . . . inevitable growth despite pitfalls & pauses 9
  10. 10. 7. Know your insurances . . . • Critical Illness Insurance pays when you are diagnosed with an illness (doesn’t matter if/where you’re working or earning an income. • Disability insurance pays when accident or illness steals your income (how much? and when?) • Life insurance: no pulse  it pays. • Next page compare and save money (instead of “mortgage insurance”) * Also see at youtube: REVERSE LOTTERY -- “pays when life sucks” https://www.youtube.com/watch?v=LY5CWYzR7M0 10
  11. 11. Mortgage insurance Life insurance • Usually pays rest of mortgage • Medical questions after death • Good until mortgage renews • Price jumps, 5 years or sooner • Terminates without notice • No value for retirement • Often costs 2x – 4x more • Always pays full value of contract • Medical confirmed when signing • Secure to age 75 or for life • Option: 10, 20, or permanent • Continues as long as you pay • Optional values for retirement • May cost ½ – saving $ for other needs Story of Jenn and John, Pam and Peter 11
  12. 12. 8. Overcoming Debts Pat has a debt monster • $3000 cards at 29% • 24% income tax  cost before tax is 38% • $5000 cards at 19% • 24% income tax  cost before tax is 25% • $8000 cards at 11% • 24% income tax  cost before tax is 15% • $14,000 credit line 4% • 24% income tax  cost before tax is 5.25% • Monthly $272. Earning $358 pre-tax but the monster is still breathing! DESTROY THE MONSTER: • Pay 29% first, then 19%, etc. • Eliminate high % debts first; keep going. • Faster to combine all at 4% • Monthly $100 (pre-tax $132) and paying $272 reduces debt > $2000 per year. 12* Savings in life insurance, slide 11, can now also fast-track your debt-freedom.
  13. 13. 9. Inheritances? • $750 Billion to $1 Trillion may reach the next generation. • Family bequests may often range $100K to $300,000. • But seniors are living longer – health costs accelerating. • You may inherit a “bill” … parents depending on children. • Inheriting wealth is really about “family values”. • See SlideShare.net: “Inheriting Wealth & How Not to Lose It” 13
  14. 14. 10. Avoiding the GAP . . . • Running out of money is a massive threat in senior years. • What would you trade while working, so you will never run out of $$ ? • Think of life as a video … a movie: what will you put in your future? • Goals: travel, friends, leisure, learning, purpose • Fears: lonely, bored, no interests • What choices can you make? • When is best to make choices? • Who else matters in this? • How is your money? 14
  15. 15. 11. A safer road to lasting wealth * • Investing leads us to “Life Income Mandates”, suggesting that 70% to 100% of life-based investment income focus on: • Global & Canadian Dividends • Global/Cdn Real Estate income (four types) • Global/Cdn Infrastructure income (types) • Global/Cdn Govt & Corporate bonds (cautiously) * Assumes effective life/health insurances * GuaranteedIncome4Life.ca/blog/Sticky-Money/ 15
  16. 16. 12. Choosing an advisor . . . • Certified, trusted, reputable team, unbiased guidance. • Gives a Certified Financial Plan – “fee or free”(included) • Personal goals, overcoming “gaps”, securing your desired destination. • Managing the journey: reducing risks on your pathway to success. • Dangers you want to avoid; overcoming obstacles; capturing your strengths/interests. • Making money work for you, fitting it to your desired lifestyle. • “Video” your lifestyle and future horizons. • Ongoing confidence to age 55, 75, 95+ • Your words: “comfort, peace, happiness …” * Over time, working with a certified advisor is shown to boost results 150% to 300%. 16
  17. 17. FREE DOWNLOAD FOR NEXT TWO DAYS: http://GuaranteedIncome4Life.ca/PLLOFD/ Q&A. Getting value you want. Saving on insurances, investments. Debt freedom. Financial Planning, Wills/POAs. Inter-generational wealth. Download and save now; review often to increase your financial confidence and success. 17
  18. 18. Let me know please: is this helpful for you? Brian Weatherdon, MA, CFP, CLU, CPCA, CRC. Certified Financial Planner, Certified Retirement Coach. For a no-obligation consultation on your personal questions or needs reach me freely at: Brian@SovereignWealth.ca 905-637-3500 x 223. 1 877 937-3500 x 223 Sovereign Wealth Management 627 Guelph Line, Burlington Ontario. We are an advisory firm specializing to protect life, loved ones, and financial resources. This presentation is not a recommendation or offer or specific products or services, whether paid or unpaid, but offers general ideas and concepts to discuss and confirm with your financial and tax professionals. 18

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