A little planning will help you live your best life.
Davis Rea Investment Counsel. We work with people at the intersection of finance and life.
- We swear by the F-word. Fiduciary. That means we owe a duty to you and we’re responsible only to you.
- We build you a financial future that you and your family can depend on.
- We provide you with informed, objective advice to create an integrated wealth management plan.
- We believe in transparency and clear communication.
- We get to know you and we stay in touch. you’re not a number to us.
Davis Rea clients appreciate our personalized, integrated approach and recommend us to their children, family and friends. There is no higher praise.
I’m interested, please get in touch
- We are FIDUCIARIES and as such, we are held to the industry’s highest standard: it is our legal obligation to act in the best interest of our clients.
retirement planning process
Identify your life goals
Our integrative approach is based on aligning what’s truly important to you right now and in your short and long term future. This means financial, spiritual and physical.
We want your wealth to translate into you living your best life.
to stop working, the act of ending your working or professional career
We have been having conversations around the word retire. As a thoughtful generation, we don’t want to stop living but want the financial security to potentially leave our corporate jobs and go after our passion projects. Life’s uncertainties are inevitable and it just makes sense to prepare in advance.
It just makes sense to prepare in advance.
Retirement – the meaning is changing with every new generation. For decades we have been helping our clients translate effective planning into living their best life.
1. Determine your time horizon
2. List your current needs and your future plans
The earlier you begin saving, the more you can benefit from the effects of compounding returns.
Financial planning for today and tomorrow is key, so plan for major purchases and estimate your expenses in the near and long-term.
We can help you balance your current financial priorities with your future financial needs and make a multi-stage plan to guide you. We can help you with timing major purchases like a vacation property or helping your children pay for higher education.
Start by itemizing your current expenses, listing your plans for major purchases over the next ten years and listing your retirement spending goals.
Clarifying your thinking, aligning your goals with your family’s goals and making a clear plan will alleviate stress and uncertainty. It’s invaluable.
1. Consider the social side of work
2. Balance stress and health
Many of us found out during ‘Covid-19 work-from-home’ that we missed the social outlet, structure and purpose of going to work. Even before Covid-19 forced many of us to stay home, many retirees reported additional stress from the loss of social connection, regular schedule and sense of purpose.
Consider how this will impact your life. Can you move to part-time work rather than stopping abruptly? For many retirees, this is a good compromise but how does it affect your financial plan?
Start thinking now about how you will spend your time after retirement. Preparation – both financial and mental – is the key to success.
1. Consider your life stage
2. Balance growth to preservation
You might think you are risk-averse but are you really? We help you determine how to balance your desire for growth with your tolerance for risk.
Our investment committee has our clients at top of mind at all times. They work diligently to preserve, protect and grow your assets through intensive research and analysis backed up by experience, market knowledge and personal knowledge of each of our clients.
Take our risk tolerance quiz here to determine your ideal asset mix.
1. What's best for me right now?
2. What are the TAX implications?
Should you be contributing to a TFSA, RRSP, RESP, RRIF or all of the above? When should you convert your RRSP to an RRIF? What are the tax implications?
You must convert your RRSP by the end of December in the year in which you turn 71. Once you convert your RRSP to an RRIF, you must withdraw a minimum amount each year – that money is taxed as ‘other income’ and can reduce government benefits like Old Age Security.
Now is the time to think about reducing your taxes upon retirement. Your after-tax cash flow will be different depending on the source; capital gains, dividends, and interest income will all yield a different amount after-tax.
Having you in the Davis Rea family means we keep up with your life events. We get to know you, we keep in touch and we perform annual reviews to adjust and account for unexpected life events.
Regular review is one of the best ways to stick to a good plan. We are here to help you.
Think of everything!
You must keep your will up to date and it’s important to consider life and disability insurance.
Insurance is one of the very best ways to preserve wealth – we have lots of experience and we’ll help you navigate all your options.
We can grow the most when we know the “what ifs” are covered as much as possible.
Giving yourself the peace of mind to reach for great heights feels good – which is why so many individuals are grateful they took the steps to put in place insurance policies so that life’s random events don’t leave themselves or their families in financial distress.
Life should be enjoyed and having options takes away the stress.
Let's talk retirement!
We’ve helped countless people achieve their retirement goals and we can help you too.
Check out our partner, Uncommon Sense Investor, for investing insights.
Here John and Mark discuss why a growth portfolio is not just for the young investor.
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