How to Ensure You Don’t Run Out of Money in Retirement for Canadians
“Retirement is wonderful if you have two essentials—much to live on and much to live for.” —Unknown
Introduction:
Are you worried about running out of money in retirement? You're not alone.
As a future-ready retiree, you're likely concerned about retirement readiness, longevity risk, tax optimization, wealth creation, and estate planning. The financial world can be overwhelming, but having the answers to 4 Essential Financial Questions can help you achieve a secure and fulfilling retirement.
In this post, we'll explore how you can maximize the efficiency of your money at work to retire early and wealthy, without the fear of outliving your savings.
By answering four essential financial questions, you’ll gain the clarity and confidence needed to plan your retirement effectively. 👊
1. What Rate of Return Do You Need?
Do you know what rate of return you need to earn on your investments to live comfortably in retirement, adjusted for inflation and taxes? Many people don’t, but it's crucial to know this to ensure your savings will last. Our webinar below will teach you how to calculate this rate and make informed investment decisions.
2. How Much Should You Save?
Are you saving enough each month or year to reach your retirement goals? Knowing how much to save is key to building a robust retirement fund. We'll provide you with strategies and tools to determine the right amount to set aside, ensuring you're on track to meet your financial goals which take care of your today's needs while keeping your future goals in mind.
3. How Long Will You Need to Work?
Retirement isn’t just about reaching a certain age; it’s about having enough money to sustain your lifestyle. Do you know how many more years you'll need to work to secure your retirement? We’ll help you understand how long you need to work based on your current savings and retirement goals.
4. What Happens if You Don’t Change Your Strategy?
If you continue with your current financial strategy, do you know how much you'll need to reduce your standard of living to avoid running out of money? Our webinar will show you how to avoid this scenario by adopting more effective financial planning methods.
Introducing the Financial GPS - Hexavision Framework
To make these concepts easy to understand, we’ve developed a Retirement Project Planning and Management Framework (RPPM) called the Hexavisionary Framework complete with tools, calculators, Body of Knowledge and mentorship guidance which I call it as an Financial GPS.
This framework will help you visualize your financial path and make empowered decisions. Additionally, we'll introduce you to the Body of Knowledge (BOK), a simple yet powerful way to understand every advanced financial strategy, and concept which are reserved for rich and elite by large corporation for you to implement irrespective of your current situation.
Client Success Stories
Many of our clients have achieved remarkable results by following our guidance. For example, Trent and Laurel Bridger, a couple from Alberta, were able to plan and manage their retirement, thanks to our Hexavisionary framework and free mentorship program. They now are confident and on their way to enjoy a worry-free retirement, traveling the world and spending quality time with their future grandchildren. To see more testimonials from our clients, please click here or on the image below.
Why Attend Our Retirement Planning Master Class?
Our free masterclass, "Learn How to Prepare to Not Run Out of Money in Retirement by Following the 3 Crucial Laws of Money," will provide you with:
Practical solutions to optimize your taxes, investments, and savings.
Personalized mentorship to guide you through your financial planning journey.
Clear answers to the four essential financial questions.
Strategies to create passive income and leave a legacy without additional work or cutting down your lifestyle.
Don’t miss this opportunity to gain the knowledge and confidence you need for a secure and fulfilling retirement. Sign up for our masterclass today and take the first step towards achieving total financial freedom.
Other resources to help you get started:
Start your own Retirement Planning checklist:
Here is a quick checklist to get you started with your retirement planning and management blow. Remember imperfect action beats inaction, get started and keep tracking the progress today.
Create your income and expense sheet, click here to download our FREE- "Financial Flow Analysis cum Zero-Based Budgeting Sheet"
Know your Marginal Tax Rate (MTR) to decide if RRSP (saving tax now) make sense for you. Use our Financial Calculator click here.
Ensure you have eliminated bad debt and embrace good debt by earning uninterrupted compounding interest on your savings and paying simple interest on your loans including mortgage interest, where ever possible make your interest payments tax deductible to keep more of your money.
Ensure you will not deplete your savings in the rare event of serious illness and injury by protecting your income ability to continue saving for your retirement and paying the bills.
Create a simple Will and Health Care Directive to outline your medical treatment and asset distribution preferences, preventing government intervention in major life decisions due to incapacity or illness, even if you feel it is not important right now.
Only after above checkboxes are done, start investing for long term growth and harvest your investment every 6 months to take advantage of changing economic conditions.
