Top 8 Retirement Lifestyle Concerns for Canadian Retirees...

The Money Café and its leading-edge strategy; Retire-Rite Lifestyle Solution? have assembled a list of the ‘Top 8 Retirement Lifestyle Concerns for Canadian Retirees’.

As a Retirement & Estate Planning Specialist with over 32 years of industry experience; I am literately faced with a myriad of money-related concerns daily. Fortunately, most families have the same underlying concerns, however, from time to time we will come across retirees who demand a bit more planning during their golden years; so, we adjust our strategy and facilitate their requests…

Here are the Top 8 Retirement Lifestyle Concerns…

Concern #1: Is My Current Retirement Nest-Egg's Projection Sustainable?

Response: Do you have a budget? Retirement income will be generated from multiple capitalized accounts. Accounts such as CPP; OAS, Pensions, RRSP and/or Non-Registered Investments; are all crucial components of your retirement plan. The dollar amount of your capitalized accounts will determine your monthly cash flow. Our goal is for our retirees to live off their capitalized account’s returns; providing their capital was large enough, if not, we will dip into our capital and begin withdrawing

Concern #2: Will I Have Enough Money To Live On After I Retire?

Response: To accurately address this concern, we have to create a cash-flow projection from age 65 to age 80; we then need to ensure we are receiving the right amount of income; we then subtract stated expenses; with an end goal of determining a positive balance, which is also known as discretionary income. If, however, we were miles apart; we would create a reverse-engineered financial/retirement plan and work it backwards (hence reversing) to the current day…

Concern #3: Will I Have To Continue Working?

Response: This can be a loaded question; from my perspective; if you have 15-20 years to go until you retire and providing you can facilitate my recommendations; WHY NOT! However; if you are 60-65 and about to retire but realize you must keep on working; speak with me first, before you make any critical decisions. I have multiple solutions for Canadian retirees ages 65 plus.

Concern #4: Will I Still Have A Bucket List of Retirement Expectations?

Response: I will answer this question with the same logic as in concern #3. If you begin your relationship with us; early enough; (ages 40 plus) your bucket list will be gone. However, if you’re older; astute planning will be required to fulfill your expectations.

Concern #5: Would I Be Able to Retire Debt-Free?

Response: Retiring debt-free is our 2nd objective in our Retire-Rite Lifestyle Solution? strategy. Once funded; We begin systematically eliminating your high-interest debt and work our way down to your low-interest debt. If there are enough funds after we’ve fulfilled the RRLS mandate; we can look at your mortgage. However; I created mortgage elimination software that will provide the formulae to pay off your mortgage in half the time.

Concern #6: Would I Have to Sell My Home and Downsize?

Response: No, you don’t. At the Money Café?; we don’t believe in liquidating assets; as the minute you do, you trigger capital gains, and you will lose the benefit of future growth. We have specific case studies where couples in their late 60’s were advised to follow the RRLS strategy. Upon review 5 years later; the value was 30% higher; giving them an extra $150K.

Concern #7: Would I Have to Pay a Lot of Taxes when I Die? (See Above Infographic)

Response: Estate Planning can be tricky; hence why you meet with me and your accountant. Over and above deemed disposition; your beneficiary must file your last income tax return; after you’ve passed. If taxes are due; you must either liquidate your parents’ assets or engage us to minimize the taxes. I can show you how to pay these taxes at 15 to 20 cents on the dollar; NOT 50 cents…

Concerns #8: Would I Have the Time to Continue Volunteering?

Response: Follow our recommendations, you won't have to work so that you can keep on volunteering to your heart's desire; this way, you keep your sanity and or prevent boredom…

Contact me @ [email protected] and or visit us @ www.themoneycafe.ca to book your consult.