Submitted by Garret deKleer
GUELPH – For those currently retired or approaching retirement in the next few years, professional financial advice is more important than ever before.
The right financial advice can make a significant difference in the well-being of your financial situation.
With our busy schedules, it can be hard to keep up with the ever-changing tax laws and retirement vehicles.
For example, did you know that starting in 2019 the yearly TFSA contribution limit has been increased to $6,000?
Many people feel like once they have finally developed an understanding of retirement strategies, the rules change and they need to completely rework their plan.
Those who are approaching retirement or have recently retired are finding that now, more than ever, they are finding the right professional advice invaluable as they look to consolidate and plan for their future.
If you are retired or are soon to retire, the game needs to change.
A prime example of this is shifting the focus of your investments away from rate of return.
We all want our money to grow, but it’s a common mistake for retirees to have returns as their primary focus ignoring other factors such as protecting purchasing power, taxation, legacy, and estate planning. The game has changed and so too must the strategy.
Changing how and where we approach our retirement savings doesn’t need to be a daunting task.
If you’ve reached your financial goals and are unsure of the next step, it’s important to ask yourself if perhaps you’ve outgrown your current strategy and should look into consolidating with someone that can take you to the next level.
Garret deKleer is a financial planner and mutual funds representative for IG Wealth Management in Guelph.
