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Life Insurance Vancouver | False Sense of Security in Retirement
Thomas Chan is your financial advisor that you can trust to help you find which life insurance Vancouver products you need. He has been known to help you get a better mindset and a better life. If you are looking for life insurance Vancouver, then you need look no further than Thomas Chan. He knows that taxes are the biggest expense for family since the 1960s and that is why he uses life insurance Vancouver to help protect you and your money from those taxes.
Future generations will thank you for it as your money outlives you and is passed on to them. Not only will Thomas help you protect your income and wealth, but he will help you grow it as well. It always gives him a great sense of satisfaction and fulfilment when he helps his clients do what it takes to have a vibrant and abundant retirement.
The first thing that Thomas does is helps uncover the truth about what it takes to retire with abundance. For one thing he reminds his customers that the time to savour for retirement is right now. Many people will make excuses about why they need to wait. There there is always some reason to put off the savings but even a little bit aside can make the biggest difference. The compound effect of interest is worth it in the long run.
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If you think that your governments going to help you in your retirement, then you will be living in a poor retirement state. If you have ever met someone who is on old-age security or Canada pension plan you will know that it is not enough to survive on never mind live abundantly. You will need to supplement this with tax-free savings account or an RRSP.
Maybe think that you are just going to keep working after retirement age hits. This might work for a while but eventually as you age things will get harder to learn with all the technological changes that come. This includes all the changes in the work industry. You also may not be able to work as much or even at all due to health reasons. This is not a good plan to retire.
Maybe think that your spouse will take care of you but the problem with that thinking is that there is usually an unbalanced income level between spouses. The one that needs to retire may be the one who brings in the most therefore both of you will be short income wise. Another thing to think about is that the divorce rate is 40% and this means that you may not even be married by the time you go to retire.
Maybe you are going to rely on your children to take care of you but that is not a good way to retire either. They will have financial struggles of their own that they need to meet as well as their own retirement needs.
Life Insurance Vancouver | Retire Securely
Thomas Chan is the financial advisor you need for everything that has to do with life insurance Vancouver. He knows how to use life insurance Vancouver to protect yourself and your money from things such as taxes. Taxes are the biggest expense that any family will have and this has been going on since the 1960s. Thomas can show you how to protect your income and wealth and grow it in one of the ways as with life insurance Vancouver. He wants to help you have a vibrant and abundant retirement but also have your money outlive you.
This is so that future generations will be well taken care of. As you can see Thomas’s goal is to help you have a better mindset and a better life.
One thing Thomas runs into repeatedly are the beliefs that people hold about how to retire with wealth. Many of the same common misunderstandings come up. Many people think that now is not the best time to start saving. It really does not matter how old you are now is always the best time to start saving. With the compound effect of interest growth, you will see that it is worth it in the long run even if you put a little bit aside every month. There will always be reasons to not start saving for retirement but as soon as you pay off and expense another one will pop up in its place.
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Maybe you think that you have an inheritance and so you do not need to save for your retirement. This is faulty thinking because your parents may not have as much left behind for you and you should not have too much confidence that there will be money there for you at all. Having an open and honest conversation with your parents is the best way to find out what your current and future situation might look like.
Maybe you are hoping your children will take care of you in your retirement. As much as your children might want to help, they have their own financial struggles to take care of. They may have a young family and want to save for their own retirement.
You might think that you do not need that much money when you retire but this is a false sense of security. Things like inflation and higher taxes as well as unexpected health costs all come into play when deciding how much is needed at retirement. You should always plan to have more than not enough. You want to retire with wealth not live in poverty. The average life expectancy age is 82 years old so you should plan for at least that and more.
Maybe you plan on still working after retirement age but due to technological changes that might become harder and harder for you. You may also be limited because of your health so this is not a foolproof plan for retirement.