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I've turned my experience into expertise to protect your future. My personal experience allows me to offer you customized financial security advice.
Yes, unfortunately, many people find out too late, but compound interest is powerful when combined with a long period of investment & favorable interest rates. Have we ever taken the time to explain the rule of 72 to you?
Would you like to make your money work for you?Would you like to save for your first real estate purchase faster?Would you like to have the freedom to retire earlier?Would you like to maintain the same lifestyle during your retirement?Would you like to save for your children's higher education?Would you like to make a real difference for your future? It starts now!The rule of 72 is a simple and quick way to estimate how long will it take for your investment to double, given an annual rate of interest. You just divide the number 72 by your investment's annual rate of return.
Quick Estimation: It allows for a rough estimate of the time needed for your investment to double, without the need for complex calculations.
Evaluate Returns: It can be used to compare different investment options based on their rate of return.
4% Return:
72 ÷ 4 = 18 years
8% Return:
72 ÷ 8 = 9 years
The RRSP (Registered Retirement Savings Plan) is a savings tool designed to help you prepare for your retirement while reducing your taxable income. Contributions to an RRSP are tax-deductible, allowing you to reduce your taxes today, while your investments grow tax-free until retirement. At retirement, you will pay taxes on the amounts withdrawn, but often at a lower rate than you were paying during your working years.
The TFSA is a flexible savings account that allows your investments to grow tax-free. Unlike the RRSP, contributions are not tax-deductible, but the earnings generated within a TFSA are never taxed, even upon withdrawal. You can also withdraw funds at any time, tax-free, and the withdrawn amounts are added to your contribution room for future years. It's an ideal tool for saving in the short or medium term while optimizing your tax strategy.
The FTHSA is specifically designed to help first-time homebuyers accumulate funds for purchasing their first home. This account combines the benefits of the TFSA and RRSP: contributions are tax-deductible, and withdrawals for purchasing a first property are tax-free. This account allows you to maximize your savings for a real estate project while benefiting from tax advantages.
The LIRA is a savings vehicle designed to protect your financial future with life insurance and retirement products. It combines insurance and savings, offering tax advantages while allowing you to prepare for your retirement and protect your loved ones. The product is often flexible, enabling you to choose among several options based on your long-term financial goals and needs.
The RESP is an excellent way to finance your children's post-secondary education. You contribute to it, and your investments grow tax-free. Moreover, the government offers grants to help maximize your savings, making it an extremely advantageous tool to support your children's education. When withdrawing funds for educational purposes, the gains are also tax-free. It's an ideal way to prepare for your children's academic future while taking advantage of governmental aid.
At 18, my life changed dramatically. I lost my father suddenly, one month after reaching adulthood. As an only child, I had to learn the hard way how to manage an estate that had not been prepared. No will, no discussions, no anticipation... only a small life insurance that he was paying far too much for.
This ordeal opened my eyes to a reality too often neglected: the importance of financial security. I decided to turn my experience into expertise. I pursued my studies and obtained my DEC in business administration, earning a perseverance award along the way. I then completed my certification as a financial security advisor and evolved alongside a mentor experienced for more than six years in the field.
My commitment to my clients is not new. Since the age of 14, I have been working in customer service, and my priority has always been to offer a human and personalized experience. You'll feel it from our first exchange.
Always eager for new knowledge to better advise you, I am currently enrolled in a certificate in financial planning to further broaden my expertise.
My goal? To prevent you from making costly mistakes and to provide you with the peace of mind that I would have greatly appreciated back then. Because financial security should never be left to chance.
Saving for retirement is essential to maintaining a comfortable standard of living when you stop working. Retirement often results in a reduction of income from work, and without proper financial preparation, it can be challenging to cover necessary expenses (housing, healthcare, leisure, etc.). By starting early, you benefit from the power of compound interest, which helps grow your capital over time.
It is recommended to start saving as early as possible to maximize capital growth. The younger you start, the more you can take advantage of compound interest to grow your savings. However, it is never too late to start setting aside money for retirement—starting now is always better than waiting.
There are several ways to save for retirement:
Both RRSPs and TFSAs offer tax advantages, but they function differently:
The optimal amount depends on several factors, including your lifestyle, expected expenses, and other sources of income (pensions, investments, etc.). A general rule is to aim for about 70% of your pre-retirement gross annual income to maintain a similar standard of living. However, each situation is unique, and consulting a financial advisor is recommended to develop a personalized plan.
Here are some strategies to maximize your retirement savings:
Saving for retirement offers several tax benefits:
Inflation can erode the purchasing power of your savings over time. Here are some solutions:
If you have started saving late, here are some strategies to catch up:
It is crucial to adopt an efficient strategy for withdrawing your savings:
Here are some common mistakes to avoid:
A well-planned retirement strategy ensures financial security and a comfortable lifestyle after retirement.