In the realm of good planning, our philosophy at C. I. Financial revolves around listening, asking thoughtful questions, and then providing meaningful suggestions – in that precise order.
If you find yourself contemplating your family’s future, it’s an opportune time to pose new questions about your overall strategy. While “Have you contributed to an RRSP?” remains a crucial consideration, it is not the sole inquiry when it comes to retirement planning. An increasingly vital question emerges: “Do I possess a comprehensive financial plan that addresses my unique life goals and needs, including retirement?”
According to FPSC’s Value of Financial Planning study, sixty-one percent of Canadians who engage in comprehensive financial planning* express confidence in their retirement financial situation. In contrast, only 27 percent of those without planning advice and 46 percent of those seeking limited advice share the same sentiment.
To provoke thoughtful introspection, here are just a few of the numerous questions to ponder and discuss with a financial planner:
- Do I have a comprehensive financial plan that addresses my unique life goals and needs, including retirement?
- How can I strike a balance between saving for retirement and pursuing current priorities and goals?
- When do I envision retiring, and what does my desired lifestyle entail during those years?
- Where do I see myself living? Are there considerations regarding primary residences or vacation properties?
- What income sources can I anticipate in retirement (pensions, savings, inheritances, and others)?
- What legacy do I intend to leave for my loved ones or favorite charities?
- How can I prepare for unforeseen health risks or unexpected circumstances?
- What tax implications arise from my financial choices? How can I optimize tax breaks while safeguarding my hard-earned savings?
- Given the above factors, should I invest in RRSPs, TFSAs, non-registered investments, or a combination? What should the allocation proportions be, and which types of investments are suitable within my comprehensive plan?
- Do I have the right financial planning professional who can address my unique needs? What key questions should I be asking to ensure a successful partnership?
At C. I. Financial, we are committed to transforming financial planning by providing personalized solutions tailored to your aspirations. Let us guide you toward a future brimming with financial confidence.
Contact us today to embark on a meaningful financial planning journey.