Planning is Essential
by Garry Stratychuk
Have you thought about whether you will have enough money during your retirement to do the things you want to do? Or, have you seriously considered what you want to do when you actually retire? Sometimes the most difficult part is getting started - defining your lifestyle goals before trying to figure out what viable financial decisions you have to make to get there.
It is recommended that you start planning and saving at least 16 years before your retirement date. However, the sooner you start the better off you will be. Should you start later, you may find it difficult to afford the lifestyle you want. You may not be able to retire at the age you wanted.
As part of the planning process, it is critical that you have a clear understanding of your current financial situation and possible future financial needs. We can assist you to:
- determine your net worth;
- determine how much money you will need and the amount you need to start saving now;
- get a clear picture of potential sources of retirement income; and
- create cash flow forecasts
Similar to a budget, the cash flow forecast shows how much you can expect to spend and receive on a monthly basis. Several cash flow forecasts can be done to illustrate different possibilities.
We offer a planning process that brings together all the essential specialties that are necessary to create, manage, and preserve your wealth and estate.
At ITI Financial we listen carefully to you so that you can establish where you are now, where you would like to be, and how to get there.
The best time to start your financial plan is right now. The longer you wait, the more difficult it will be for you to attain your goals.
Give us a call, we'd be happy to help!