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Retirees

Don’t simply retire from something;
have something to retire to

Retirement Planning Consultants, Serving Western Canada

We recognize the importance of planning for retirement, and the need to provide quality of advice. This generation of baby boomers will have retired by 2031. Furthermore, 22 percent of financial advisors will be retiring over the next decade, creating a demand for quality planning.

Our team will provide clarity where there is complexity, present an easy to understand quality financial plan with built-in solutions to your needs while maintaining harmony in your family circle when planning their legacy, or charitable giving.

We believe that all clients are unique and deserve a well thought out, and comprehensive road-map which we will review regularly and update all as needed.

Tax Planning

Taxes don’t have to be so taxing

We’ll use all available strategies allowed under your provincial laws to minimize the amount of tax you pay on your investment income.

Cash Management

Our alternative to traditional banking

Our synchronized approach to financial planning involves having an open conversation with you about your real-life plans, and uses a variety of strategies based on your current financial picture to help you achieve them.

We understand that all of your financial needs are interconnected, and we treat them as such – from investing and managing debt; to making sure you only have the insurance you need; to paying as little tax as possible.

Wealth Management

Getting the most out of your money

To feel at ease during volatile periods, focus on the long term, make sure your asset mix is optimized for your risk tolerance, and invest regularly.

Risk Management

The right choices for your changing life

Our full suite of life insurance and living benefits products can help protect your loved ones throughout all life’s adventures.

Retirement Planning

The right guidance at the right time

We can help you figure out how much you need to save to achieve your future financial goals and secure your preferred retirement lifestyle.

Estate & Succession Planning

Planning for your estate

We will recommend solutions that help maximize your estate’s value, while helping to ensure your beneficiaries will receive everything you’ve planned for them. We can help you understand how the decisions you make today impact the value of your estate.

Wealth Transfer

Setting up an estate plan that meets your needs

We will recommend solutions that help maximize your estate’s value, while helping to ensure your beneficiaries will receive everything you’ve planned for them. We can help you understand how the decisions you make today impact the value of your estate.

Charitable Giving Strategies

A smarter way to give

Charitable giving is one of the most tax efficient strategies available when planning for your estate. Ask us how we can help.

FAQ

How much should you spend and can you afford when you’re retired?

Even if you are considered high net worth, you will face uncertainty over how much you can afford to spend in retirement. The retired business owner or professional(s)often do not have a source of guaranteed pension income which may present you with the challenge of determining a sustainable draw on your investments. Additional factors, such as market volatility, inflation, and taxes create financial planning challenges.

How do I prepare for retirement?

Whether you’re already retired or planning to exit your business, here is a guide to help put you prepare for retirement.

  1. Create a personal checklist – How much per year,  and frequency of withdrawal, Income you will need after-tax, the withdrawal rate from your investments held within RRSP, RRIF, IPP, TFSA,  and other income-producing investments depends on several factors:
  2. What is your Investment Risk Tolerance? If you are considered a  conservative investor, you would expect a lower return with less volatility, whereas, a more aggressive investor could expect higher returns with more pronounced market adjustments.
  3. Your longevity? Retirement could span thirty-five plus years and, generally, a more extended time-frame requires a more specific withdrawal strategy.
  4. Your income requirements – will you need to draw on investment income every month or can your defer or decrease income to offset periodic declines in portfolio value?
  5. Know your income sources –  Your retirement income will come from sources such as the Canada Pension Plan (CPP), Old Age Security (OAS) and company pension plans. Add them all up.
  6. Know your expenses  Add up your expected costs – both fixed and discretionary.
  7. What is the gap? For example, If you need Sixty Thousand dollars, 60,000.00, before tax, calculate the difference between total CPP / OAS, and your other income streams. A couple receiving maximum CPP & OAS totals receives about 30,000.00 before-tax per year. The difference will leave a shortfall of Thirty-Thousand to fill the gap. Your income from all other combined sources will be needed to fund your fixed and discretionary expenses.
  8. What is your drawdown rate? What is your number? Determine the amount or percentage you need to withdraw from your retirement savings and investments.

Stress Test your adjustment Strategy?   Many use a 4% drawdown rate; however you must account for taxes, inflation, and capital gains. When drawing down on a registered source of investments, Non-Reg, or sheltered investment vehicles, your advisor should adjust to keep pace with your needs.

What is the cost of your Wealth Management and Retirement Planning Services?

Peters Wealth Management does not charge a fee for building a holistic financial plan. Consultations provided at No Cost, No obligation to all. Full financial disclosures provided transparently, and at the time of any transaction executed at the request of the client. Work with your professional advisor to develop a personal plan that takes into account all of these factors and provides peace of mind. Very often, a high net worth individual will discover that they can afford to spend much more than they thought.

We want to hear from you.

You deserve the value of a personal, lasting relationship.

Our commitment to face-to-face relationships, a proven investment approach, the breadth of our products, and the depth of our management are what make a relationship with us so rewarding.

We look forward to working with you to help you achieve your lifelong financial goals.

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We want to hear from you.

You deserve the value of a personal, lasting relationship.

Our commitment to face-to-face relationships, a proven investment approach, the breadth of our products, and the depth of our management are what make a relationship with us so rewarding.

We look forward to working with you to help you achieve your lifelong financial goals.

 

Preferred Contact Method

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