We’re often called on to implement RRSP retirement plans for our clients. As your trusted Financial Advisors, we understand the importance of a long-term game plan for your finances. We’re also separate from the banks, you can trust our advice won’t be influenced by bigger commissions that other advisors may get from recommending particular types of investments. That’s important – because when it comes to retirement planning, you don’t want to be wondering whether the advice you’re getting is in your best interest, or theirs.
Having a profitable mix in your RRSP & TFSA accounts is one way to measure the success of your retirement plan. We’re happy to explain the tax benefits and important requirements of each. But before we even get to where your money needs to go, we need to do a financial needs analysis with you. After all, before you get to retire, you want to know what the path to retirement looks like and how much you'll need in retirement – so you can prepare to fund it properly.
Before we meet, it could be very useful to ask yourself the following questions – and be honest about the answers.
What is your lifestyle like now and how are you funding it?
Are you spending like there’s no tomorrow, enjoying fine dining and entertainment, sparing no expense on your home, vehicle, travel and more? Are you a saver, putting off impulse buys to save up for the items you really want? There’s no necessary contradiction between being a big spender and having plenty in the bank, if your income is high enough – but keep in mind that people who keep close to budgets and are able to put away a significant portion of their income each month do tend to do better when an unforeseen job loss, illness or other factor causes a cash crunch. Ideally, you’ve already developed some good financial habits before you ever call up an expert to help you with your retirement planning.
What do you want your lifestyle to be like when you retire?
Do you see yourself taking on all those passion projects and adventures that you just never had time for when you were young? Buying a sailboat and cruising from port to port? Traveling around Europe in style? Winters in Palm Springs? Visiting your grandchildren in five different cities? Staying in your current home, close to your social circle? Or just enjoying some quiet time in comfortable surroundings?
We can help you understand what you’ll need to prepare for financially, so you can turn those dreams into achievable, affordable goals.
Contact Us
At Safe Pacific Financial, we specialize in helping Canadian business owners, incorporated professionals, and investors structure life insurance for maximum wealth protection, tax savings, and business growth.
If you would like to discuss whole life insurance or investments, we’re happy to chat and see if we can be a good fit to work with you. Fill out our contact form and we will get back to you within 24 hours on business days.
Related Insights
How Life Insurance Works in Canada
Most Canadians believe life insurance is simply a backup plan. It is something you purchase in case the worst happens so your family is protected....
The Canadian Business Owner’s Guide to Wealth Management
You’ve built a successful business. Your corporation is generating profits. Retained earnings are accumulating. On paper, everything looks strong. Now is the perfect time to...
How to Use Whole Life Insurance as Collateral for Tax-Free Loans in Canada
What if you could access capital for your business, investments, or retirement — without selling assets, triggering capital gains, or paying tax on withdrawals? You...
How Canadian Business Owners Can Stop Losing Money to Taxes
How Canadian Business Owners Can Reduce Taxes Using RRSPs & TFSAs Are you a successful Canadian business owner, real estate investor, or incorporated professional? If...
The Core Principles of the Infinite Banking Concept (IBC): A Canadian Perspective
Managing your finances in today’s world means more than just saving money—it’s about creating a system that gives you control over your wealth, both now...
The Rockefeller Strategy: How Whole Life Insurance Creates Generational Wealth in Canada
When people hear the name Rockefeller, they immediately think of massive, enduring wealth. Founded in 1870 by John D. Rockefeller, Standard Oil built one of...
Why Get an Infinite Banking Whole Life Policy for Your Kids?
Why Get an Infinite Banking Whole Life Policy for Your Kids? At Safe Pacific, we’re often asked by both parents and grandparents: “Why would I...
What is the Million Dollar Baby Plan and how does it work for Canadians
What is the Million Dollar Baby Plan and how does it work for Canadians? What if you could set up a secure, tax-free financial foundation...
Why Life Insurance is Essential for Business Owners
If you’re a business owner or a high-income incorporated professional, you know that managing risk and building financial stability are essential to your success. Life...
Episode 5 of the Infinite Banking Concept Series - Leaving a Legacy
Welcome to the fifth and final blog in our comprehensive series about the Infinite Banking Concept in Canada. Throughout these four previous blogs we’ve talked about...
Episode 3 of the Infinite Banking Concept Series - How Policy Loans work and what is the Adjusted Cost Basis?
Let’s look at a Whole Life Insurance Policy Illustration that's correctly set up for the Infinite Banking Concept. In this illustration with a Canadian life...
What is the Immediate Financing Arrangement?
Who is this for? We tell everyone that they shouldn’t set this up unless they want and need life insurance. If you have someone you...
