Life Insurance Vancouver | Debunking Retirement Myths
Thomas Chan knows everything that has to do with life insurance Vancouver. He helps you to protect your wealth by using life insurance Vancouver products in the most efficient way. He is passionate about protecting your income and your wealth and growing it because he knows how important it is that your money out lives you. Part about he helps you protect your money is protecting it from taxes. With life insurance Vancouver products he helps you to do that because he knows future generations can be taken care of in a much easier manner.
Taxes are the single biggest expense that families have had since the 1960s and he was to share with you the 15 secrets the taxman does not want you to know. When you book a consultation with Thomas Chan he will share these secrets with you. He helps you build wealth, plan for retirement and choose the right Life insurance Vancouver products for your needs.
The first thing that Thomas Chan realizes is how many myths people believe about retirement and his goal is to help uncover those myths and show the truths around them. For one thing people think they are going to work forever. That they will be able to stay in the workforce well into the retirement age but this is risky business.
Technology is always changing and it hits the work industry harder than anywhere else. You may not be as quick to learn the new things that are happening and therefore it could be harder to stay in the workforce. You could also have management or ownership changeovers that could change how you feel about the place that you work. You also may not be able to work as much because of your health etc. these are some things to think about when you choose this as your retirement plan.
If you think that you can retire because your spouse will take care of you you need to rethink this plan as well. For one thing the spouse who makes more money may not be the one who can continue to work. There is always an imbalance between two partners in how much they earn. Another thing to consider is that the divorce rate is over 40% high and if you fall into that statistic you will not be able to rely on your spouse taking care of you in your retirement.
Relying on your children to take care of you into your retirement is not a good plan either. Your children will have financial strain of their own and are not likely to be able to help you sustain the lifestyle you are used to.
You might think you do not need as much money when you retire. The goal is not to just survive in retirement but to continue living the way you have been accustomed to. You will need to plan if you do not want to be poor. By having enough in your retirement it saves you from the cost of inflation, taxes and unexpected healthcare costs.
Life Insurance Vancouver | Inflation Affects Retirement
Thomas Chan is your trusted advisor for everything related to life insurance Vancouver. He helps uncover the secrets that the taxman does not want you to know. He can take your income and be protected through life insurance Vancouver products. When you sit down with him he will be able to show you which life insurance Vancouver products and plans are the best option for what you need. His goal is to give you a better mindset and a better life. Because he knows that taxes are the single basic biggest expense to the family he wants to help protect your wealth and also grow it.
One of the best ways to plan for retirement is to uncover the myths that people believe about it and share the truth instead. One thing is people think they will work until they are quite old. They do not realize that for one thing they probably will not want to work as much but also they may be limited on what they can do as they age. Technology is always changing and the work industry may be too fast evolving for you to keep up in your older age.
The other part to think about is how healthy you will be at that age to be able to keep on working. You may have health issues that pop up that will cause you to have to slow down or to stop altogether.
Your spouse is not the one you should count on to retire you. The income levels may be unbalanced between you and your partner and that can make it an uncertain reality of how much money you can retire on. If the partner that makes more money is unable to work then your income levels will automatically go down. The other thing to think about is that the divorce rate is 40% high and this means that you may not even be with the partner at retirement age.
Expecting your children to take care of you is poor planning for your retirement. They will likely have financial struggles of their own and will not be able to carry your lifestyle on top of all that. You do not want to be poor and you do not want to make your children poor either.
You may think I do not need that much money when I retire. This is faulty thinking because there are many factors that plan how much money is needed at retirement. And what you put away now is not necessarily enough for later on. The goal is to plan to not be poor. You must take into consideration inflation, taxes and unexpected healthcare costs. Something else to keep in mind is that 82 is the average life expectancy so that is the timeline you should plan for. The good news is Thomas Chan can help you old wealth, plan for retirement and choose the right insurance in Canada.