2. Retirement planning
No matter what your plans are for retirement - for example, leaving work to relax and travel, staying at work part-time or starting a business - your income is likely to come from more than one source. These might include government benefits, employer-based pensions, and your own registered and non-registered savings, as well as inheritances and money from downsizing to a smaller home.
Your Financial Advisor needs information on all these potential sources in order to provide you with tailored investment advice for income and growth and to help craft a retirement income plan that takes into consideration various factors such as income-linked government benefits like Old Age Security.¹ Your Advisor may also suggest that you consult your professional tax advisor for advice on deferring or minimizing income tax.