What is your retirement number?

03/18/2024   |   Uncategorized

When it comes to retiring, the crucial question to answer is: What’s my number?

Embarking on your retirement journey is a highly individual experience and establishing your personalized “Retirement Number” is the first step towards securing the golden years you envision. At Protect, we understand the distinct needs of individuals, especially those in the dentistry field, and we’re here to guide you through every step of this significant financial planning process.

Tailored Financial Strategies for Your Lifestyle

Imagine a retirement where your hard-earned savings not only fund your desired lifestyle but also provide a lasting legacy for your loved ones or cherished causes. With our comprehensive financial planning process, we use state-of-the-art tools to meticulously analyze your unique circumstances. We don’t just focus on numbers; we focus on your story, goals, and vision for your retirement and estate.

Tax-Efficient Retirement Strategies

Your retirement assets are diverse; your plan may include RRSPs, TFSAs, investments in your DPC or Holdco, and proceeds from the sale of your practice or property. Selling your practice requires prudent planning beforehand to ensure you aren’t offside with CRA’s income tests or look-back rules. We understand that minimizing taxes during withdrawals or when selling your practice is crucial. Our team analyzes all your assets to establish the most beneficial withdrawal strategy, allowing you to retain more of your hard-earned money.

Saving for Your Vision

How much should you be saving and investing to achieve your retirement objectives? We perform personalized calculations to ensure your savings rate aligns perfectly with your envisioned retirement lifestyle.

Legacy Planning

Beyond funding your lifestyle, you may have aspirations to leave a meaningful legacy. Whether it’s for your children or grandchildren, other beneficiaries, or beloved charities, we’ll help you create personalized strategies to fulfill these wishes.

Timing Your Government Benefits

The Canada Pension Plan (CPP) and Old Age Security (OAS) are more than just components of your retirement strategy—they are crucial elements that require strategic timing. We provide personalized counsel on when to access these benefits, ensuring you make informed decisions that align with your goals and minimize/safeguard you from potential benefit clawbacks.

Connect With Us for a Personalized Consultation

Are you ready to embark on your personalized journey to a financially secure and fulfilling retirement? Reach out to us at cory.wilson@protectfinancial.ca Let’s schedule a time to chat about your unique needs and aspirations.

Thank-you for considering Protect as your partner in securing your retirement!