Retire Comfortably

Retire comfortably in any economy

Your wealth is always evolving, even if it is at the very start.

Wealth comes in many forms: your family, your children, your adventures and the memories that you create, everyday. All of this wealth leads to your legacy. Your footprint for the next generation.

At GIC Financial Management and Two Roads Financial Centre, we believe that personal wealth is a journey; one that involves the whole family.

To help us ensure the very best advice, services and sustainable plan, we don’t just look at one aspect of your financial life – we look at everything and everyone in it.

Here is what our Family Wealth Coaches will review with you, over time, to ensure we understand your entire story:

Living well with money

We will review your current financial situation such as assets and debt, your current portfolio or plans to start building one, retirement plans, education plans and your insurance needs. It’s all a part of your financial story and we want to understand it as fully as possible so we can help you write the next chapters.

Understanding taxes

Tax returns are a good indicator of your financial health and often, can present opportunities for maximizing income. We have a dedicated tax specialist who will review your past tax returns and help to plan for optimum tax strategies going forward.

Starting the Family Conversation

Talking about money involves trust and openness. The goal is to build a long-term plan that everyone is invested in, including your children who will likely manage an estate when there is a family transition. If children don’t understand their parent’s situation, plan and wishes, it can put relationships at risk as well as assets. Family Wealth Coaches help you to start the conversation about your finances with your family, with a relaxed and collaborative approach.

Some examples of Family Transitions are below and these are times when it’s best to check in with your Financial Wealth Coach:

  • Retirement
  • Work Interruption or Job Loss
  • Critical Illness
  • Long Term Care Decisions
  • Death
  • Divorce
  • Inheritance

Living well in retirement

The behaviours and habits you used to manage your income and expenses while you worked will be similar in retirement. One of the keys to success while you were working was to be smart with your money; plan for vacations, save for a rainy day, invest for the long term. The same is true in retirement – the key to your success is to stick to your investment strategy and your retirement income plan; remain vigilant of your withdrawals in down markets and be disciplined in your spending when needed. Most of all, meet with your Financial Wealth Coach regularly and especially if you experience a family transition.

Start the Retirement Conversation

When we start a conversation about your retirement, we will cover:

  • Retirement income analysis
  • Assessment of objectives
  • Retirement expenses analysis
  • Retirement cash flow projection

Personal Savings

Your personal savings over the years will complement your retirement income. Be sure to include this in your retirement planning conversation with your family wealth coach.

Company Plan

The pension benefits from your employer is one source of income in retirement. Bring your pension statement to your first meeting with your family wealth coach.

Government Benefits

Pension benefits from government sources will complement your retirement income. Understand the implications of government plans by including them in your conversations.