Working with mass affluent households to help achieve

your financial goals and discover your lifestyle priorities

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Fee-Only Advanced Financial Advice

Mission: to assist clients at any age and provide cost-effective services as they move through different stages of life.

Fee-Only Advanced Financial Advice

I do not sell any financial products.

As a professional educator located in Lindsay, Ontario, I am passionate about financial literacy and helping people increase their financial knowledge to achieve their lifestyle goals. My teaching profession has focused on the high school secondary level for thirty years. Experiences dedicated to lifelong learning have reinforced my desire to continue to assist clients and participate in the Canadian financial planning space.

THE WEALTH PLANNING TIME HORIZONS

⏳ Your short-term financial goals are less than three years

⏳ Your medium-term financial goals are three to nine years

⏳ Your long-term financial goals are 10 years or longer

THE FINANCIAL PLANNING PROCESS: WHAT is It?

Financial planning is a broad, comprehensive process consisting of six areas. It’s a holistic approach that focuses on more than one aspect of your finances. Comprehensive financial planning is a process that is ongoing and assists you in making well-informed decisions about your money. It includes taking a close look at your current financial situation, setting short-term, medium-term, and long-term goals, and developing a plan to achieve those goals.

A comprehensive financial plan takes into account all aspects of your life: Family & lifestyle, Protecting lifestyle, Planning for the future, Managing savings, and Building a legacy.

The Six Financial Planning Areas

Financial Management

Investment Planning

Insurance & Risk Management

Tax Planning

Retirement Planning

Estate Planning

When We Start Your Financial Plan We Will have Conversations to:

✔️Establish the client–advisor relationship: Discuss the services I will provide to you and the scope of the client/professional engagement; the process of financial planning and documentation; clarification of our responsibilities such as how and by whom I will be compensated

✔️Collect data and information: Explore the overall financial planning process that is appropriate for you and explore your needs, objectives, financial goals, and constraints, to begin the process of formulating a plan

✔️Analyze data and information: Create your comprehensive or modular financial plan based on the data and information you provide

✔️Recommend strategies to meet goals: Review of recommended wealth strategies, passive and/or active, to meet your financial goals align with your priorities

✔️Implement recommendations and strategies in your comprehensive or modular financial plan

✔️Periodically review your overall wealth strategies at least once a year - time horizons - financial goals - life cycle stages

Financial Planning Considerations

Your Financial discovery

Your Financial Discovery: Individuals seldom have a single goal. People may envision a distant retirement but are more likely to have their hearts set on a home, cottage, or post-secondary education for their children. You may be concerned about your income today and tomorrow, as well as the financial well-being of your children and grandchildren. Your goals typically may be focused on some of the following: Family and lifestyle, Protecting lifestyle, Planning for the future, Managing life savings, and Building a legacy.

1️⃣ Accumulating Financial Wealth - this will focus on the need to grow assets.

2️⃣ Protecting Financial Wealth - this will focus on the protection of wealth (i.e. risk management).

3️⃣ Converting Financial Wealth to Income - Creating an income stream is particularly important in retirement, and also necessary in the case of disability, unemployment, or family emergencies.

4️⃣ Transferring Financial Wealth - Wealth transfer relates to your estate plan and building a living legacy.

Risk Management Concerns

The Personal Risk Management Process There are five steps in the personal risk management process to protect your lifestyle:

1️⃣ Identify the risk.

2️⃣ Evaluate the risk.

3️⃣ Control the risk.

4️⃣ Finance the management of risk (insurance).

5️⃣ Monitor & revise the risk management plan.

Retirement Planning

A common concern for many people is whether they will have enough money to support themselves during retirement. This is a complex question to answer because of the unique circumstances specific to the individual. To create an effective wealth plan to achieve your financial goals you should consider six variables:

1️⃣ The number of years to retirement (time available to accumulate wealth) and the likely number of years in retirement

2️⃣ The annual income required during retirement (based on lifestyle expectations)

3️⃣ The amount of retirement savings already in place

4️⃣ The amount of money you can save each year

5️⃣ The inflation rate now and during retirement

6️⃣ The expected return on your savings over the years

Tax Free Savings Account

Are you using this registered account to earn tax free income?

REGISTERED RETIREMENT SAVINGS ACCOUNT

Are you using this registered account to earn tax-deferred income?

Asset Management Considerations

Investment Strategy - Passive and/or Active Management Combination

Determining Risk/Reward Trade-off - Asset Allocation

📘Option 1 - is to open an account where asset management will be managed by yourself in an order-execution-only account.

📘Option 2 - is to open an account where asset management will be managed by professionals who carry out your instructions in a non-discretionary account.

📘Option 3 - is to open a discretionary account set up with an asset management professional; the portfolio manager performs the investment decisions.

Tax Planning Considerations

When you know more about your tax situation you may implement techniques to reduce the amount of tax paid. Some tax management techniques are:

🔷 Make optimal use of tax-deferred & tax-free accounts.

🔷 Optimize the location of assets.

🔷 Make optimal use of capital losses.

🔷 Keep turnover low in non-registered accounts.

🔷 Use life insurance proceeds to pay estate taxes & probate fees.

🔷 Make use of income-splitting with regard to attribution rules.

Income splitting Options

Have you considered the benefits of income splitting your

Canada Pension Plan to pay less income tax?

Estate Planning Considerations

Estate Planning should occur to enable you to pass on assets to your heirs in a relatively trouble-free & tax-efficient manner. A Will should reflect your desires and minimize taxes on death as much as possible. Please consider these questions:

🔹Do you need to write a Will or modify an existing one?

🔹Have you selected one or more executors, trustees, or guardians & their substitutes?

🔹Have you thought about what you would leave to beneficiaries and/or charities?

🔹Have you selected a Power of Attorney (POA) to act on your behalf in case of physical or mental incapacity?

🔹Who should write my Will & POA? Where can I access this service? One option is Willful.

Let's Get StartedLet's meet to explore the overall financial planning process that is appropriate for you and explore your needs, objectives, and financial goals. 🗓️Schedule a 30-minute online meeting to explore your options. 📞Alternatively, email or phone me and we will set up a meeting.

Choose a 30-minute time slot for us to connect in a Google Meet

The best time to begin saving is earlier than later. Time multiplied by compounding will grow your wealth.

It's 'time in the market' that counts, not 'timing the market'.

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