04 December, 2020

Retirement Income Planning is a Team Activity

In building a successful career there is hard work, discipline and focused strategies and we do this mainly by ourselves. There’s a reward at the end of our dutiful path, and most Canadians may not realize that planning for that reward to be exactly as we expect is not something we should be doing alone. We need the help and advice of an expert. The best retirement plans are the product of teamwork, a collaboration between you and your financial advisor.


You may ask why you need advice on the management of money you earned yourself. Many do. The truth is, more Canadians are retiring, and with changes in pension structures and uncertain market conditions, the landscape you need to navigate to have the retirement you are hoping for is far more complex for than ever before. 


To start, you need to consider potential retirement income sources, RRSPs, TFSAs, CPP, pension, and so on. Then seek expert advice to help in creating a plan that allows you to draw income from each source in the best way possible. Next you need ask yourself exactly how much you’ll need to retire, considering your target retirement age, retirement lifestyle, health, inheritance planning, and so on. This is where I can bring value, as an advisor. I can be your knowledgeable bouncing board to proof the plan you have put together. You don’t want to find out your plans were off after you have retired.


Watch the video Plan Your Retirement Income, it illustrates what you need to consider in terms of your retirement income—sources, expenses, and more. Be sure to share this video with your family and friends to help them better plan their own retirement.


I can help you understand retirement income planning better, contact our office today and we can work together to create the best investment plan for your needs.


Resources: CIRANO Report: Econometric Models on the Value of Advice of a Financial Advisor

Your Retirement Income: As the Ground Shifts, Financial Advice is Key, White Paper- Investment Planning Counsel, August 2015.

The information and any statistical data contained herein were obtained from sources that we believe to be reliable, but we do not represent that they are accurate or complete, and they should not be relied upon as such.

This blog post is for informational purposes only and is not and should not be construed as, professional advice to any individual. Individuals should contact their IPC Advisor for professional advice regarding their personal circumstances and/or financial position.