This Decumulation Checklist will help you to communicate to us what is most important to you in this phase of your retirement planning journey.
This CPP/OAS Checklist will help you better understand when and when not to consider applying for CPP and OAS benefits as part of your overall decumulation strategy.
Retirement
Many of us dream of the day that we can retire and have the time to ourselves that we have dreamed of for many years. But, in order to have a truly comfortable and enjoyable retirement, you need to ensure that you have the means to afford it. When putting together a retirement plan, it’s crucial to consider the two key stages of retirement.
Accumulation
For most clients, retirement planning is about saving money in RRSPs, TFSAs, and other investments for a comfortable retirement. Initially, the focus is on strategies like asset allocation, risk management, and tax efficiency to enhance returns. However, as retirement nears, the emphasis must shift from saving to spending.
Decumulation
Decumulation planning, the strategic spending of assets for retirement goals, is more intricate than accumulation planning. It involves guiding clients on how much to spend, the order of asset utilization, and when to apply for CPP and OAS benefits. A misstep here could cost clients significantly in lost wealth over their lifetime.
The R4R Financial Assessment ™
The R4R Financial Assessment™ will produce The Retirement Options chart that analyzes the 4 Primary Planning Options that are available to you. These 4 options are the basic changes, or next best actions, needed to eliminate future cash flow excesses or deficiencies. Combined, they will provide answers to the most common questions Canadians have about their retirement:
- Are my goals realistic based on my current income?
- Where should I be invested based on the goals I have?
- How much of my income do I need to contribute to my goals?
- What is the one thing I should focus on accomplishing first?
How We Work Together
Our process is simple but thorough, designed to guide you through each phase of your retirement planning. After our introductory meeting, if we’re both ready to move forward, we begin the 4E’s process. If not, we part ways.
Explore:
We get a clear picture of where you are today and where you want to go. This is the foundation for your personalized retirement plan.
Benefit: A solid understanding of your financial situation ensures we’re aligned with your goals.
Engage:
Together, we design a customized strategy for your future. You’ll be directly involved in shaping your plan, making sure it reflects your vision for retirement.
Benefit: Your plan is tailored to your unique needs and goals.
Entrust:
With the strategy in place, we implement it and keep everything on track. I’ll manage the details so you can focus on what matters most.
Benefit: The complexities of your plan are handled, allowing you to enjoy peace of mind.
Ensure:
We review and adjust your plan as life changes. Regular check-ins ensure you stay on track, no matter what comes your way.
Benefit: Flexibility and ongoing support keep your plan aligned with your evolving goals.
Ready to get started?
Schedule a call today to begin your journey through the 4E’s Retirement Process.
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