Tuesday, March 1, 2016

Planning Your Retirement Lifestyle

Have you thought about the time when you will no longer work to create income? 

  • When will you retire from full time work and what will you do then?
  • How much income will you need to live the lifestyle you want? 
  • How big a nest egg do you need to create that income? 
  • What is the most cost-effective way for you to grow your financial assets
  • Are you on track to achieve your financial and lifestyle goals?  
  • What will your sources of income be when you no longer work full time?
  • How much can you expect from government pension plans and when?  
  • Will you continue to work in retirement?  If so, for how long?
  • What are the best ways to convert your financial, business, and real estate assets into passive income that will last for the rest of your life? 
  • Are you financially prepared if your career ends prematurely?
  • How much life, illness, disability or long-term care insurance do you really need? 
  • How can you protect your family financially, and minimize taxes and administration for your spouse and children when you pass away?  

These are questions that I am uniquely qualified to help you answer

As an individual who has experienced marriage, divorce, single parenthood, corporate life, job loss, career change, business ownership, teaching, launching children, loss of friends and loved ones, moving to a new city, and creating financial independence for myself, I have developed a wealth of knowledge and experience that enables me to mentor individuals who are serious about planning for semi-retirement or retirement 

Here is how one client sums it up 

"I have had the privilege of serving Tim as business solutions provider for many years and now enjoy the wisdom of all his collective years in business and in life, particularly on how to achieve true financial freedom. Tim has provided me with the opportunity to learn what true professionalism looks like in action. His guidance has been invaluable and is rooted in him being an exemplar of what he teaches and advises, first. His disciplined and practical approach to finance and life has created immense trust between us where I am now confident to continue on a path that will ensure the continued financial stability and freedom I now enjoy. If you are serious and passionate about your life and your financial well-being then look no further than Tim. He is, without reservation, a true Master and incredible Guide. I feel very blessed to have Tim in my corner!"  

June 8, 2016 Greg Magennis, Founder & CEO Axiom HRD 

As an independent practitioner, I am not compelled to recommend proprietary products from any bank, insurance, fund company or portfolio manager. I don’t have “sales quotas” and can therefore offer objective, unbiased financial advice. 

I believe in focusing my attention on those areas where my experience and training can help you most.  I refer you to legal, accounting, mortgage, banking, and portfolio management specialists when your situation merits it.  

How much does it cost? 

All initial consultations are free.  At our initial meeting we find out about each other, whether I would be a good fit for you and vice versa, and have a discussion of what you hope to accomplishOnce I begin to work on your case, I bill at a rate of $150 per hour starting with an appropriate retainer fee depending on the estimated amount of time it will take me to do the work.  If you choose to continue to work with me after the initial work is complete, periodic reviews of your financial progress are also charged by the hour. If you choose to purchase a solution for which I am compensated through a referral fee I disclose this to you and refund your retainer.  There is no obligation to purchase any product through me. 

Why is there a retainer fee if I can get this advice "free" at my bank or financial institution?

Most Canadians do not realize that there are fees built into almost every product they purchase, and many of those fees are exorbitantly high.  The average Canadian pays about $233,000 in fees to financial institutions over his or her lifetime.  This creates a tremendous incentive for financial advisors to "sell" you a higher fee product that makes them better off, but which is not necessarily the best for you. I can help you minimize or avoid those fees. 

In fact, you are likely to pay far less in fees even in the first year we work together by having the type of professional advice I offer, compared to purchasing products with built in fees from "fee-based" financial advisors.  And over your lifetime, you are virtually certain to pay less in fees by paying a fee-only personal financial consultant.  

Here is a fee calculator that will help you determine what you are already paying in investment fees.   

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