I have been asked many times “Why should I get a financial plan? What questions can I get answers to?”
Many are not even aware of the array of questions they have when it comes to their personal finances. When I sit and chat with people about finances and mention some of the area’s to address they frequently respond with “I never thought of that before!”
To get a start here are just a few of the questions that can be answered by preparing a proper financial plan.
A financial plan will give you the answers and solutions to the following questions:
- When can I retire?
- Will I run out of money?
- What should I invest in?
- How much do I need to save?
- Should I participate in my company’s pension or RRSP plan?
- Should I pay down my mortgage or contribute to my RRSP?
- Should I contribute to my RRSP or the TFSA or both?
- Should I borrow to invest?
- Should I have a fixed or variable mortgage?
- What can I do to reduce my taxes?
- How much and what kind of insurance should I have?
- What is the most effective way to transfer my estate to my children?
- How should I set up and or structure my business?
- What is the most effective way to give to charity?
- Am I on the right track?
- Am I taking too much or too little risk with my investments
- and many more!
To start your financial plan or to learn how we may be able to help you please contact me.