Financial Planning is the difference between being reactive and proactive. Proper planning keeps you on course in achieving your goals and objectives.
The Written Comprehensive Financial Plan
It is your right to be provided with a written comprehensive financial plan which analyzes and identifies any opportunities or shortfalls that may enhance or get in the way of your objectives.
Some people run into trouble when they have too much or too little taxable income in retirement. Proper planning can ensure your retirement income is sustainable over your entire lifetime and that the tax burden is spread out efficiently. You don’t want to run the risk of either extremes – outliving your assets or having your Old Age Security Clawed back!
Be comfortable with how your personal and business assets will be disposed of and with the tax effects that go with it. It may be important to make sure you fully understand who will receive your assets and how they will receive them.