The first step in the process is determining how much income will be available to you during retirement.
We analyze all income sources of income, including: personal RRSP’s, RRIF’s, TFSA’s; employer pension plans; non-registered investments; CPP, OAS, and part-time employment. Our recommendations are made based upon your retirement goals; current and anticipated future tax status; family situation; and individual risk tolerance.
With longevity becoming a greater concern, determining when to start taking CPP & OAS has become a very important question. In order to minimize taxes, maximize income, or integrate with an employer pension, we examine how taking CPP & OAS early, as well as deferring them, affects your overall income plan.
Once all retirement income sources are identified, along with your goals and objectives, we will complete an in-depth analysis and income projections for you. This analysis will illustrate how and when the various sources of income are taken, inflationary factors, as well as the income tax implications of each source.
Your plan is monitored regularly to see if any changes may be required based on: life circumstances, changes in legislative/tax laws, and other events that require adjustments to your plan. Recognizing that goals and objectives can change, we implement flexible plans that are continually reviewed and updated as an essential part of the planning process.