Life Insurance Vancouver | Building Wealth

When it comes to life insurance Vancouver Thomas Chan is the financial advisor you need to set up a great wealth building plan. He is knowledgeable about everything to do with life insurance Vancouver, wealth building and retirement plans. He wants you to have a better mindset and a better life. So much so that he is willing to share the secrets the taxman does not want you to know about building wealth. Did you know you could use life insurance Vancouver to protect yourself and your money from taxes. This will help future generations be taken care of.

Life Insurance Vancouver

Not only do you protect your income and wealth but you also grow it with Thomas Chan. Just knowing that your money will outlive you gives you peace of mind. The additional bonus is that you can live an abundant and vibrant retirement phase of your life. All of this is within your reach and you will see once you sit down with Thomas Chan how easy it is to get started.

You do need to know some things first about retirement. There are many common misconceptions when it comes to how to retire when to start. How much money is needed and what is the best time to actually retire. Some people think that they are just going to keep on working after they hit retirement age. They actually think that this is a good retirement plan. It is not because there are so many changes and things that happen over many years that could change and alter this plan completely.

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First of all, technology is always growing and changing and you might not be able to keep up with that if you are not in that realm already. There might be a changeover in ownership and you will not necessarily like working for the company anymore and that could change everything. Another thing to consider is that you may not be able to work as much because of your health if at all. These factors all come into play and that is why it is not a good idea to just think you can keep working after retirement age.

Thinking that your spouse will be able to take care of you and your retirement is another foolish retirement plan. There is always an imbalance between the incomes of spouses. The spouse who makes more money could be the one who needs to retire first and then you are left with less to live on. This usually means that you retire poorly. Another thing to remember is that the divorce rate is 40% and although it is not fun to think about it is still a statistic to consider because 40/100 people fall into this category.

Your children will not necessarily be able to take care of you in your retirement. Expecting that is putting too much pressure on future generations. You want to leave well for your family, not take it away. They have their own financial burdens to carry on at that time in their life.

Life Insurance Vancouver | Financial Burdens

Thomas Chan is the financial advisor that can help you set up your life insurance Vancouver plans. He is very knowledgeable on how to use life insurance Vancouver products to help protect yourself and your money from taxes and also to help grow it so that future generations will be taken care of. To help protect your income and your wealth but also grow it you can use life insurance Vancouver products and plans. And the fact that you will have your money outlive you will give you peace of mind.

Some people think they are going to still work after retirement age hits. This might work for a while but eventually you will have a hard time keeping up with the younger workforce in the work industry. Technology is always changing and unless you can keep up with that you will get left behind. You may not be able to work as much due to health reasons and therefore this is not a way to retire.

Thinking that your spouse will take care of you as a retirement plan is foolish thinking. The spouse that makes more money may be the one who needs to retire first and that puts both of you in a bad position for retirement. Income levels are always imbalanced between spouses so it is something to sit down and have open communication about with your spouse. Something else that people do not really want to look at and admit is that the divorce rate is 40% high. What this means is that at retirement you might not even be with your spouse at that time in your life so he cannot count on their income to retire.

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Having your children take care of you as a retirement plan is selfish and foolish. Your children have likely their own children to take care of on their own futures to plan for. Retirement homes cost a lot more money than just regular stages of your life. You cannot put this financial strain on your kids and need to plan for yourself.

You might think you do not need as much money when you retire but again you will plan to be poor if you think this way. The average life expectancy is 82 years old and you will need to plan for that and longer. Things such as inflation, taxes and unexpected healthcare costs almost be factored in when figuring out how much you need to retire and when you can retire.

If you are thinking that you can just pull the equity out of your home when it comes time to retirement that is also a foolish approach to retiring because as you may have seen the housing market does not always go up at the same rate. It could actually come down when you need to retire and that will affect the overall value and how much you have to pull out to retire on. On top of that you have lost the equity out of your home.