Life Insurance Vancouver | Financial Burdens in Retirement

Did you know you can protect yourself and your money from taxes by using life insurance Vancouver products? if you have never thought about this but know that you want to protect your income and your wealth and grow it then it is time to sit down with Thomas Chan. He is a trusted advisor who helps you build wealth, plan for retirement and choose the right life insurance Vancouver products. When you come in to sit with Thomas Chan, he will discuss with you which life insurance Vancouver products will be best suited for your needs And your future.

Life Insurance Vancouver

One thing people do not even realize about retirement is all the myths that they believe about it. Thomas Chan hears these common misunderstandings on a regular basis. One of which is that it is people think they do not need as much to retire on and still be able to have a quality of lifestyle that they are used to. The thing to keep in mind as you do not want plan to be poor.

Having enough money when you have to factor in inflation and taxes and any unexpected healthcare costs can prove to be quite overwhelming. This is why it is best to sit down with Thomas Chan and figure out the best way to go about saving for your retirement. 82 is the average life expectancy and that is the least that you should plan for.

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If you still plan on working well after retirement age in order to keep your lifestyle up the way you wanted you may have a very poor retirement plan. Technology changes all the time and so does the work industry with it. You may have a job expectation change or have a boss change. These are all things to consider when thinking about continuing in the workforce well after retirement age. The other thing to think about is being physically able to continue working well into old age. You may have health concerns that pop up and you need to plan for those.

Your spouse might be the breadwinner and you might plan to retire on that. This is a risky retirement plan as the spouse that makes more could actually be the one who needs to quit working earlier. There is always an imbalance between the spouse’s income levels. So, to plan to retire off of your spouse is not always foolproof. Something else to consider is that the divorce rate is 40% high and 1/4 of the people that are greater than the age of 50 are divorced. Again, this does not help you for retirement if you plan on using your spouse as your retirement plan.

Having your children take care of you is not a foolproof plan for retirement either. They might have struggles of their own and should not be expected to carry your financial burdens as well. You want your retirement Wealth to outlive you and have future generations taking care of.

Life Insurance Vancouver | Burdens In Retirement

Thomas Chan is your go to guy when it comes to life insurance Vancouver plans. He knows that taxes are the single biggest expense to family since the 1960s. This is why he uses life insurance Vancouver products to protect his client’s and their money from taxes. He knows that your money Should outlive you and wants to help you Create a retirement plan that is vibrant and abundant. Because taxes are the highest expense of families have, he wants to help protect you and your money by using life insurance Vancouver. He wants you to have a better mindset and a better life.

You might think that you can work well into retirement age. This could be true but it should not be the go-to plan for your retirement. Technology is changing all the time and this directly affects the work industry. You may have a boss changeover or leadership of some sort making it harder for you to enjoy staying at work. There is also the fact that you might have health concerns that pop up and get in the way of you working well into your retirement age. Planning to work in your retirement is not a foolproof retirement plan. There are better ways to reach this stage of your life and have it abundant.

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Your spouse may make more than you and you might count on that for your retirement. This is also not a great plan for retirement because your spouse may be the one who needs to quit work earlier. This will leave you in a deficit when it comes to income. You do not want to plan to be poor. Something else to consider is the fact that more than 40% of people are divorced and 1/4 of those people are over the age of 50. This does not leave a lot of hope for your spouse taking care of you in your retirement.

Children should not be expected to take care of you for your retirement. They will likely have a financial struggle of their own leaving it impossible to help you. Something to consider is having your money outlive you so that you can protect future generations knowing they will be taking care of financially.

You might think that you do not need that much money when you retire but this is also poor planning in retirement. There is inflation and taxes and any unexpected healthcare costs that pop up and you will want to be prepared for those scenarios. 82 is the average life expectancy but you should plan for even longer than that. It is time to start thinking about how to protect your income and your wealth as well as grow it so that you can live a vibrant and abundant retirement and leave a legacy for your children to enjoy. Thomas Chan is your trusted advisor for wealth building, retirement planning and insurance needs in Canada.