Retirement Income Planning

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Planning a financially sound retirement is important in enabling you to retire on your own terms and in ensuring a comfortable and enjoyable retirement. Through our wealth management approach, we will help you build a comprehensive retirement income plan. This plan will manage your resources to their fullest potential so that you can live the retirement lifestyle you have planned for.

Building A Retirement Portfolio

Automate Contributions
Automating contributions can make contributing to your RRSPs effortless and your savings grow faster.

Diversify Your Portfolio
By spreading your investments across different types of assets you are able pursue higher, long-term returns and gain protection against volatility.

The goal with diversifying your portfolio is to achieve a balanced mix of investments across all the major asset classes – equities (stocks), fixed-income and cash-equivalent securities, such as bonds. You may want some of these investments to take an aggressive approach to maximize performance and return and others to take a conservative approach to emphasize stability.

Review Your Portfolio Annually
Life changes – and so should your retirement plan, especially after significant life events such as purchasing a vacation property, receiving an  inheritance, suffering an illness or losing your job. Reviewing your portfolio and retirement plan with one of our Wealth Consultants can help ensure you are maximizing contributions and staying on track to reach your retirement goals.


How Much Do I Need To Save For Retirement?

How much you will need to save depends on when you want to retire and how you plan to spend your retirement.

Do you want to retire at 55? Do you want to spend your time travelling? Do you have a hobby you enjoy doing? Will you be taking care of aging parents or dependent children?

There are many factors that go into determining how much you will need to save for retirement to live the life you’ve dreamed of.  Let an Avanti Wealth Consultant help you reach your retirement goal – call us today!

What Type Of Investments Will Help Me Meet My Retirement Goals?

The types of investments you choose to put your money into is going to depend on a number of factors including what your retirement goals are, your age, and your risk comfort.

Investing in stocks, bonds, mutual funds, annuities, or real estate for example are all great options to help you reach your retirement goals. You may choose to contribute to only RRSPs when you are first starting your retirement savings journey and as you get older diversify your portfolio as your available cash flow increases.


Which Investment Account Should I Deplete First (TFSA, RRSP, CASH)?

You may have several investment accounts available to draw income from in retirement and deciding which account to deplete first can be complicated.

There are a few things to consider when determining which investment accounts to deplete first:
  • What type of investment accounts do you have?
  • At what age are you retiring?
  • Do you have the ability to defer your CPP benefits to a later age?
  • What is your family situation? Is your spouse still working

*Mutual funds, other securities and securities related financial planning services are offered through Credential Securities, a division of Credential Qtrade Securities Inc.  Credential Securities is a registered mark owned by Aviso Wealth Inc.  Mutual funds and securities related financial planning services are offered through Credential Asset Management Inc.

 

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