What is a financial plan?
A financial plan provides clients with a clear picture of where they stand financially and where they need to get to in order to achieve their financial goals. It provides answers to common questions like, “When can I retire?” or “How much do I need to save for retirement?”.
A financial plan allows clients to stop making assumptions about their finances and instead, to uncover the real facts so that ultimately, they can enjoy peace of mind.
Questions that a financial plan can answer include:
- Am I saving enough?
- Am I on track to retire when I want to?
- Do I have things in place to minimize taxes in retirement?
- Are my accounts invested appropriately based on my risk tolerance and time lines?
- If I die, will my family be okay financially?
- Do I need a TFSA or RRSP?
- How much do I need to save for my child’s education and how does the RESP work?
At CSR Wealth, your financial planning process will include:
- Net worth summary
- Retirement income and cash flow projections
- Asset allocation and portfolio management suggestions
- Life insurance options
- Estate planning considerations, including how to minimize tax and save on probate fees
- Tax planning
- Debt management
At the end of the financial planning and wealth management process, you will feel confident that you will be set up strategically to help you reach your personal goals. You'll feel a sense of relief knowing that you are headed in the right direction.