Retirement Income Planning

Is what we call the spending phase:  the considered and strategic spending of the funds that you have accumulated to finance your life after your career, as well as the passing on of your wealth legacy to your loved ones.

I am continually struck by the lack of accurate and useful information about retirement income planning for the 21st century.  Without careful planning, your estate could pay more than 50-70% in death taxes – more than the total tax dollars that you may have paid during your entire working life!

RIPOC is your “go-to” resource to help you learn about creating tomorrow’s paycheque today in a way that anticipates your tax implications and the impact on your income before they occur to establish lifetime income and by taking the key retirement risks off the table so that you can enjoy a comfortable lifestyle in retirement.

 
Retirement income planning is more than just saving for retirement.  It is necessary for every stage of your adult life right up to your final chapter.  

Retirement income planning is process that requires the managed coordination of multiple income streams and their tax consequence in an efficient way.  For an average married couple their income sources will grow from typically two to eight sources or more, when they reach retirement:  OAS, CPP, RRSP, and TFSA for each individual, plus a joint cash savings account.  Your wealth plan should be specific to your retirement vision that meets your basic needs, wants and desires in your final chapter.  

 

Many individuals have invested thousands of hours into their work while raising a family throughout their income earning years and saving for retirement.  These hours and savings should translate into a mix of personal investments and resulting estate, insurance, legacy and tax components that must be carefully planned to deliver the maximum income benefit for your spending years, so that you can live a comfortable lifestyle in retirement.

Retirement income planning is also not about chasing returns. Rather it is about providing a sufficient return that takes the “what if’s” out of the retirement equation and removes the retirement anxiety that comes with the question, “Will I have enough?”