Protecting your retirement income from unforeseen health risks.
We know most people will make it to retirement without suffering a major illness but if you are one of the unlucky ones, what happens now?
Would you forego 1% of your annual rate of return to eliminate this risk?
Sure, you could use your savings or take out a loan to cover the unexpected costs, however, both options will have a significant impact on your retirements plans. If you need to access your registered funds, they are taxed in the year you use them. Accessing those funds prior to retirement is not part of your plan.
Pass on that risk to an insurance company. They will take care of the rest with an illness recovery benefit. This is a tax-free lump sum payment to cover any number of unforeseen expenses. No need to submit receipts or to justify the costs.
If you are diagnosed and survive a major illness like cancer, heart attack or stroke, you receive an illness recovery benefit payment. This will keep your retirement goals on track.
Below is an example of a typical 40-Year-old, on track, saving for retirement.
After diagnosis, he/she needs to access 100k from their registered account at age 55 to cover additional costs associated with fighting an unfortunate cancer diagnosis. The impact is significant:
Take 1% of your annual rate of return to pay the monthly or annual cost. Your future self and family will be grateful if the worst happens.
An amazing group of professionals that has your best interests at heart. William Peters is truly a master of his craft and PWM is best in class when it comes to personal wealth, succession planning, tax planning, and risk management. Thank you for all that you do!
A strong team that will help you reach your goals. I’ve worked with William and his team for the last few years and I feel confident that our financial plan is the best for my family. He’s always just a phone call or email away!
I have known William for many years. Gives great personal service and goes out of his way to help you with any personal issues that might arise in your life – positive or negative! Always stays in touch and goes that extra mile! I have recently switched to Williams’ new company and they absorbed my transfer fees for me! This was very much appreciated. Keep up your great service Will! 🤗
I am very pleased with Peters Wealth Management. William Peters genuinely cares about people. He has years of experience investing. He actually listens to my concerns and gives recommendations based on my goals. I receive regular reports and personal phone calls. If you are tired of the banks not caring about you or your investments, I would highly recommend giving William Peters a try.