Saving For a Worry Free Retirement
For most people, the company pension plan was something their mother or father enjoyed. Nowadays, those golden pension plans are almost extinct and the onus is on the individual to plan for their own retirement.
This is where a Mapledene Financial Group advisor can help. We will work with you to create a comprehensive yet easy to understand retirement plan.
Thanks to the power of compound interest, the earlier you start planning for your retirement, the more likely your goals will be achieved. For most, the real focus for retirement planning typically comes when you reach the middle of your income earning years (between 30 and 45 years of age).
Unfortunately the average result is not good. They have either saved too little or placed too much faith in a volatile market. This is typically the stage where we are brought in to help.
The most effective retirement plan should be written down. The majority of our plans are written for clients who are 10 to 20 years from retirement and need to refocus their efforts. Producing specific retirement and lifestyle plans and consistently reviewing these plans are what we do best.
To reach your retirement goal, you will need to first figure out:
What is your likely retirement age?
How long are you likely to be in retirement ?
How much income would you require to live comfortably in retirement?
What other sources of retirement income will you likely receive?
Are there any other future expenses you need to plan for?
What types of retirement accounts are available to you?
What are the best options and strategies to sustain income and reduce income taxes in retirement?
We will take you step-by-step to determine what your goals are, what is the best strategy to reach your goals and what accounts and investments are right for you and your family.
By having a plan, we will help to ensure that your retirement is as worry free as possible.