Real retirement planning goes beyond RRSPs: it takes into account your lifestyle, retirement goals, expenses and all sources of income.
What is financial planning?
There’s no doubt that investing plays a key role in financial planning — after all, it allows you to save for major events and purchases, and provides you with income in retirement.
However, there is far more to financial planning and wealth management than investing. A comprehensive financial plan will include all of these components:
- Planning for a financially comfortable retirement.
- Managing cash flow (including making a budget and reducing debt).
- Sharing wealth (such as leaving a will and charitable giving).
- Ensuring that you are prepared for the unexpected.
- Saving for major expenditures.
This can all be accomplished — and in the most tax-efficient ways — with the help of a certified financial advisor. A strong financial plan will adapt and change with your life and therefore give you more financial confidence.
How can a financial advisor help you?
A key role for any good financial advisor is to help you make better decisions and feel in control of your finances. Working with a financial advisor should make you feel confident that your finances are well taken care of.
They will get to know all about your current financial situation, as well as where you would like to be and all of your plans for the future. They’ll then recommend a financial plan that is custom made for you, along with how you can achieve it, together. That financial plan should go some way to making you wealthier, faster. According to Canadian research on investors with and without a financial advisor, over a 15-year period, investors with an advisor were, on average, 2.3 times wealthier than comparable investors who had no advisor.
Working with an IG advisor
IG advisors help you with your financial planning by developing your custom-made, comprehensive IG Living Plan, which contains all six components of a truly holistic financial plan, as outlined in the financial advisor section above.
IG advisors are also able to lean on the expertise of a team of IG experts in the fields of tax, estate planning and retirement planning. This allows your IG advisor to provide in-depth advice, which is particularly helpful if you have complex needs in these areas.
Contact an IG advisor today to arrange an initial conversation to find out how they could help you to take control of your entire financial life. You can find an advisor here.
More on real financial planning
Expert advice on how to maximize your tax deductions and credits, and minimize the taxes you have to pay on your income and investments.
Getting started is easy
Here’s what to expect from your initial conversation with an IG advisor; they will:
Understand what’s important to you: your values, concerns and goals.
Share our approach to financial planning, which goes beyond investments, to include tax efficient strategies, risk reduction and more.
Answer any questions you may have and establish our next steps.