Comprehensive Financial Planning
We strongly believe every household will benefit from having a formal written financial plan. This is particularly crucial in the 5 years leading up to retirement and in the first 5 years after retirement. This is largely due to the decisions that will be made at this time, some of which are irreversible should you discover later a different option would have been better.
Estate Planning
Minimize taxes and protect your legacy. We help ensure your assets are distributed according to your wishes, reducing stress for your loved ones.
Retirement Planning
Strategic planning to maximize your retirement income. We create personalized strategies to ensure your retirement years are financially secure.
Household Risk & Debt Management
Protect your family and manage your debts effectively. Our approach helps safeguard your household’s future while reducing debt faster and more efficiently.
How to Access Resources During Retirement
Building a strategy for accumulating investments to support you after your working years end is worthy of praise. However, of equal importance are the decisions about which assets to draw on in retirement, and in what order to minimize the tax burden, not just in one year but over your entire retirement.
We see many people using “rules of thumb” to decide which assets to draw down first (RRSP, TFSA or non registered etc.). We strongly recommend that you use a strategy built for your specific circumstances. Rules of thumb work sometimes, but not most of the time.
Estate Planning & Organization
Most Canadians dramatically underestimate the taxes due upon death. The final tax return and other issues like being unable to find the documents they require, typically leads to stressed out executors who have been left problems to solve without proper solutions.
Taking some time to organize your affairs can significantly reduce the stress we put on this person, who is generally someone we care about. Contact us to have a conversation about how to make your executors job as easy as possible. Small steps now can save your family unnecessary conflict.
Safeguard Your Home and Break Free from Debt
Protecting your household’s financial future starts with managing risk and reducing debt. Our Household Risk Management strategies help safeguard your family against unexpected events, such as loss of income due to illness or job loss. We provide tailored solutions to ensure that your family’s essential needs are covered, even during challenging times.
For Household Debt Management, we offer tools and strategies for consolidating debt, making payments easier, and reducing your mortgage and other loans faster. Together, we help you build a secure foundation for your household’s financial stability.
Financial Planning FAQs
Common questions about our services.
Why do I need a financial plan?
Our main role is to ensure you have all the information you need to make the best financial decisions for your household. You can only make good decisions if you have access to good information. A written financial plan provides the context you need to make better decisions.
For those approaching retirement: you will need to decide when to take CPP and how to access the savings you have built up over a lifetime of working. A financial plan can help ensure you are minimizing the tax of these decisions and possibly reducing OAS clawback.
How do you provide financial planning services?
Clients that have investments with Phoenix Financial in excess of $200,000 are provided financial planning services free of charge.
If you wish to access a financial plan as a stand alone service, we can provide a fee for service plan upon request.
How do I get started?
Contact us to schedule a consultation and begin planning your financial future.
Ready to Take Control of Your Financial Future?
Contact us today to start your personalized financial journey.