Retirement Planning
Retirement decision needs some planning. Don’t just decide to retire if you do not have any assets or a source of income at the time of your retirement. You need to have these assets or income to fund you at your retirement.
A plan can help you decide if it is feasible to retire.
Having a realistic expectation is one of the key factors in enjoying your retirement. You and your spouse need to define these expectations for what you want out of your retirement.
A plan for your retirement will help you get the most out of your assets and retirement income.
Your retirement lifestyle may involve working part time to keep you busy for the part of the week and also generate some income at the same time.
Working part time can also help you pay your debts if you are carrying debts into your retirement.
One should not carry any debt in retirement. Servicing any indebtedness in your retirement will reduce your cash flow
You need to focus on the following for a good retirement plan:
1 – Transitioning into Retirement
2 – Investment Portfolio
3 – Health Risk Management
4 – Wealth Transfer Considerations
Mansoor Suhail (Mani)
Accountant
MS TAX – BSBA – EA – ICIA – RA
1804 – 1360 York Mills Road
North York, ON, M3A 2A3
TAX for CANADA AND U.S.A
Web: www.theaccountingandtax.com
416 – 283 – 8774
