Comprehensive financial planning is a dedicated process of efficiently managing your assets, liabilities and cash flow’s so you can achieve your life’s goals and dreams. Your current financial situation is an important factor in your financial plan.
Maximizing the effectiveness of your current and future assets is the key to reaching this goal. There are many elements that go into this calculation; on top of your current RRSP and non-registered investment holdings, we consider items such as your salary, your pension, your group benefits, inheritances, and other assets. We also look at your liabilities – a mortgage, fixed expenses such as for insurance or education, other debts, and factor in future expenses such as supporting a parent, or anticipated medical costs. Aside from the above, your preferred retirement age, CPP, OAS and inflation are also included in your plan. The bottom line is that our plan will account for more of what really goes on in your financial life than virtually any other plan in the marketplace.
Your custom CSIC financial plan is a playbook that specifically allocates resources each year from today to life expectancy, showing a clear year-by-year savings, investment and withdrawal schedule. These calculations are done with the purpose of generating the maximum spending power over your whole life, starting now.
An assessment of your financial plan should be done at least annually, and when there is a major change in assets, liabilities or your personal circumstances.