As stewards of your wealth, The Farwell Group is committed to helping you Retire on Your own Terms™ which includes overcoming these 5 significant challenges:

1. Living much longer than what you expected Click for details

For a couple age 65 today, there is a 50% chance
one of them will live to at least 92.
Source: Annuity 2000 Mortality Table, Society of Actuaries

Given healthier lifestyles and ongoing medical advances,
Canadians are living longer.

The cost of maintaining a comfortable retirement
will continue to increase over time.

Historically, from 1915 to 2013, the Canadian Inflation
Rate averaged 3.23%

In 1970, the cost of a week vacation
in London, England was $500.
Today, it can cost $5,000.

The bottom line:
Prepare to live and maintain your lifestyle
for a long time.

2. Carefully managing your tax bill Click for details
The biggest expense in most Canadians' lifetime is their tax bill. It can exceed the combined cost of a mortgage, children's education, travel and cars.

Keeping your tax bill low is critical to helping you maintain your lifestyle and sustaining your wealth to benefit future generations.
3. Creating a reliable and
tax-efficient life-long income
Click for details

In 1960, almost all workers could rely on a Defined Benefit pension. Today, just 26% have one.
Source: Bureau of Labor Statistics (US)

The savings strategies that got you to this point are not necessarily the ones that will see you through. Lower interest rates, volatile markets, self-managed pensions, new tax rules, new investment products and accounts, all combine to make generating a reliable, tax-efficient income today different than for our parents' generation.

Common questions your peers ask us include:

  • At what age should I take my CPP?
  • When should I start taking an income from my RRSP?
  • Can I benefit from income splitting?
  • How do I plan for ever-rising health care costs?
  • How do I tax-effectively manage my company stock and options?
  • How do I tax-effectively generate an income from my holding company?
  • How to minimize my Old Age Security claw back?

It is also wise to consider your home and cottage equity. These may be an important source of income or be part of your strategy to leave a legacy.

4. Diversifying your portfolio to
maximize gains while minimizing losses
Click for details

During this next phase of life, your savings need to continue working for you. Research has shown that:

  • 10% of your retirement income is expected to come from the money you saved during your working years.
  • 30% will come from the growth of your savings before you retired.

However: 60% of your retirement income is expected to come from the growth that occurs during your retirement.

5. Leaving a meaningful legacy Click for details

At The Farwell Group, we believe that estate planning is about life – now and in the future. Most importantly, estate planning is about the life of your family, your loved ones and the causes about which you care most.

You may share some of the common concerns voiced by your peers:

  • Protecting spendthrift beneficiaries
  • How to protect assets from a marriage breakdown
  • How to reduce my beneficiaries tax bill
  • How to reduce probate taxes
  • Keep the family cottage
  • Cover capital gains liabilities

Whatever your situation, there are tried and true strategies available to leave your legacy to your family and favourite charities. The tax-efficient retirement income and estate plan we will create for you, help to ensure you have the choice to leave a meaningful legacy.