Wealth comes in many forms. Our focus on wealth reflects the value we place on earning your confidence and the lasting security that only hard work and thoughtful planning can guarantee. Much more than a measure of monetary gain, it is about looking to the future and seeing boundless opportunity.
At its core, wealth is a relentless commitment to personal fulfillment, professional satisfaction and the freedom to achieve your dreams and enable the dreams of others.
The process of creating wealth, in its simplest form, involves spending less than you earn. Establishing a budget is a crucial step in taking control of your finances. It’s probably safe to say that with your other financial obligations you may not have a lot of money left over at the end of the month. However, it’s never too early to get started, and making even small, regular contributions to a savings plan can reap substantial long-term rewards.
Having spent decades focusing on saving for retirement, you can approach this stage of life and suddenly realize you have no idea how to fit all the pieces together. Our team can help you create a sound income plan that minimizes tax expenses and integrates your income sources, such as:
registered savings (RRSP, TFSA)
benefits such as government pensions (CPP, OAS)
employer pension plans
Now that you are retired it’s a wise time to revisit your estate plan.
The most important element of your estate plan is your will. Objectives change over time and your will should reflect these changes to ensure that your estate is distributed as you wish. If your children are self-sufficient, that may have a bearing on how you distribute your estate. You may have valuable assets, such as a family cottage, that require a careful tax minimization strategy before the property is passed on.
Grandchildren may change the way you distribute certain assets. You may consider using trusts to hold and maintain assets for young beneficiaries. Trusts are flexible and useful estate planning tools but should be established only after careful thought and the assistance of qualified legal counsel. Assets with named beneficiaries, such as RRSPs, RRIFs, segregated funds and insurance should also be reviewed regularly to ensure that your beneficiaries reflect your current goals and objectives.
Our team can help you take the right steps to build your wealth.