RETIREMENT Income Planning

Retirement Concerns

Canadians now have higher expectations for retirement and are coming to recognize the risks in living longer plus the higher costs of health care in later years. These are concerns that should be addressed with a qualified retirement income specialist.

One of our specialties at Ottawa Asset Management is working with retirees to ensure that their retirement income is structured efficiently to get the most out of their income, and to put protection in place to guarantee income for life.

Planning Your Retirement Income

Most retirees have several sources of income, and investments scattered about at various institutions. Efficient income planning involves first consolidating investments with one advisor or institution. This is an important step to give a clear picture of your diversification, and give some control over the use of your assets. The next step is to then determine your income needs in the various stages of retirement. Once the income needs are determined, decisions are made on what sources of income to access in what amounts. This is done in a way that minimizes taxes, and preserves government benefits if possible. Another important consideration is using insurance planning to guarantee that income will be available for life, and to plan for wealth transfer to the next generation.

There is a real need for professional guidance in this area. People are living longer and you need to be prepared for many years of retirement. Since 2000, we’ve seen sustained low interest rates and very volatile markets. These factors are particularly detrimental when you are drawing an income from your investments, as it can deplete capital and affect future growth.

Roger Crandlemire, Chartered Financial Planner, has been assisting retirees with these issues for many years. He is a speaker at information seminars on topics related to retirement income planning. For a fee (approx.. $250 – varies depending on the complexity of the portfolio), he provides a comprehensive planning blueprint. The fee is waived if you enlist his services for the implementation of the plan.

Call us today, or book online for a free consultation. 

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