You’ve worked hard to build your family’s wealth; that’s why protecting it is a key priority to ensure you are prepared to meet your current and future wealth management goals and commitments. This article discusses several considerations that can help to safeguard and enhance your wealth.
A formalized savings plan that uses a registered plan, such as a Registered Retirement Savings Plan (“RRSP”), Tax-Free Savings Account (“TFSA”) or a Registered Retirement Income Fund (“RRIF”), is one of the soundest ways to realize your retirement goals. Here are some strategies you can use to maximize the benefits of your RRSP, TFSA and RRIF.
While your retirement date may still be several years off, and the goals you set today may seem even further off, it is never too early to begin preparation. Along the way there will be some bumps and pitfalls during your savings years. More importantly there are certain risks in retirement that need to be considered and planned for before you retire in order to maintain a comfortable retirement lifestyle. Learn about some of the risks and how to manage them here.
Tim Eastwood, CFP®, CIM®, FCSI