Financially Speaking

During your career, you get used to receiving a single regular “paycheque” from your employer or business.  When you retire, however, you could start receiving multiple payments from receiving multiple payments from any number or income sources including your employer’s pension plan, the Canada Pension Plan, Old Age Security, Registered Retirement Income Fund (RRIF) income, dividend payments and more.  These multiple payment amounts, arriving at various times can make managing your finances confusing.  We can work with your to smooth out the confusion by putting a plan together to help you manage your retirement income stream.  Let us put this simple process in place so that your income sources can be consolidated into a single and simple monthly paycheque, just like you had before you retired.

Creating your desired retirement lifestyle

Like the majority of Canadian, you have planned around regular paycheques during your working years and would prefer the same structure to help you manage your finances in retirement.  A qualified Investors Group consultant has the skills and tools to assess your complete financial picture and design a comprehensive plan specifically customized to fit your cash flow needs both today and into your retirement.

Of course, a key component of this plan is to ensure your income sources provide you with the cash flow you desire to live the day to day lifestyle you want, but it doesn’t stop there.  Our simple cash management solutions take your needs into account throughout each stage of your retirement.  Through the implementation of Retirement Paycheque ™ strategy, we can also help to maximize potential growth and provide you with the financial security you want.

How it works

We’ll work with you to make sure that all sources of your retirement income are consolidated into a single interest bearing savings account where you don’t have to worry about “how much” or “when” income will be deposited.  These deposits could include income sources from an employer, dividends and income distributions from investment of Canada Pension Plan, Old Age Security, retirement annuities, RRIF income or one of many other sources.  Then, based on our thorough cash flow analysis, we’ll ensure the right amount of money is deposited on the right date into your Solutions Banking™ Merit (Chequing) Account so that it is available for you to manage your monthly expenses.  This amount can easily be adjusted as you move through different stages in your retirement and you will have the comfort of knowing the amount of, and when, your cash inflow will be transferred into your chequing account.

Once you have provided for your predetermined monthly expenses, we can transfer the remaining balance of your income stream into your existing, Investors Group investment portfolio.

The Benefits

In addition to the convenience of monitoring a consolidated source of retirement income, your money earns interest in the short term and can also help to build a hedge against the effects of future inflation.  Considering that only the amount you need to cover monthly commitments is moved into your chequing account, any surplus is then available to contribute to your well-balanced investment portfolio.  Staying ahead of future inflation is critical and it’s important that you take steps now to protect your financial health both today and in the future.

Let’s get together soon to discuss your options and the benefits of providing you with a single, simple Retirement Paycheque ™.