One of the most common goals we often hear from our clients, is that when they have $1,000,000 in savings they will have a comfortable retirement. Wow what a goal! But there are many variables of that million dollars which needs to be looked at in very simple terms.

Variable 1. How old will I be, and how long will the income last? We are living longer these days, and we may need to use the income longer than traditional planning used to have dictated.

Variable 2. How tax efficient is that income going to be? Because it is not how much money we will have, but how much money we will keep.

Variable 3. Will future large purchases (withdrawals) affect the income I will receive throughout my retirement years? We will always need a reserve of savings to fund things like, car purchases in retirement, vacations or kitchen & bath renovations to the home.

Variable 4. If there is a Market crash either before or during my retirement, how will that effect my Income? It is not hard to believe that market crashes have and always will happen, when they happen in retirement, it can change your standard of living.

These are all variables that are never properly planned for by using a Savings Mentality. In our practice, we do not simply focus on Savings, but we focus on Income, income that you will receive in the future. By looking at Income instead of Savings, we are able to plan a predictable income no matter what happens in the market. By using Income as the end result, we can know years earlier if we will be financially stable in retirement.

If you knew your retirement income would not sustain you in your leisure years, when would you like to know, now or at retirement? Do you know currently how much income would be provided for you through things like Pensions, Personal Savings, CPP and OAS. If you have only been thinking of Savings up to this point, it is time to have a review with our office to see how much Income will truly be provided from your years of hard work.

Because if all you had believed to be true were not true, when would you like to know about it? Call our office today for a no obligation review, it's our business & it's our pleasure...