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Life Insurance Vancouver | Inflation Affects Retirement
Having a better mindset and a better life is something Thomas Chan instills in his clients when he is setting them up with life insurance Vancouver plans. He knows that it is important to protect your income and wealth but also to grow it. He helps to use life insurance Vancouver to protect you and your money from taxes. Did you know that taxes are the single biggest expense that families have experienced since the 1960s and it is not going anywhere. He wants to help you take care of future generations by protecting your income. Life insurance Vancouver is one way to do this.
The problem with a lot of people when they think about retirement is that they have many misconceptions around it. They think that they are going to continue working well into the retirement age and therefore this stunts the retirement plan from ever starting or maybe starting too late. They think that they will just be able to keep doing what they are doing and have the same vitality when doing it. Technology is always changing and that directly affects the workforce and industry. It is best if you plan for retirement not through working. You may not be able to work as much or at all because of health issues or concerns.
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If you think they are spouse will be the one to take care of you in your retirement then you will want to reconsider this retirement plan. The income levels are usually unbalanced between the spouses and the one who makes the most may not be the one who is working in the end. You cannot rely on an income that is not yours your best plan is to use a life insurance product to create an income. Something else to consider is that the divorce rate is 40% high and quarter of those people are over the age of 50.
Expecting your children to take care of you for your retirement is a terrible way to plan for retirement. Your children will likely have their own financial struggles and will not be able to carry on the burden of taking care of their aging parents. Your best bet is to remember that your money can outlive you so that future generations will be taken care. Thomas Chan shows you what you need to do to have a vibrant and abundant retirement.
You may think that you do not need very much to retire on but that is also a full way of looking at retirement. You will likely need more money than you think to retire if you do not want to retire poor. Things to consider are inflation, taxes and unexpected healthcare costs. Another interesting fact is that 82 is the average life expectancy. You should plan to have income well beyond this age so that you can continue living a vibrant and abundant life. Thomas Chan will help you build your retirement fund.
Life Insurance Vancouver | A Better Way To Retire
Thomas Chan is your financial advisor that can help you protect yourself and your money from taxes through life insurance Vancouver plans. He is a Master at Understanding the secrets of the taxman does not want you to know. Because taxes are the single biggest expenses to families since the 1960s, Thomas Chan has figured out a way to help you protect your income and wealth through the use of life insurance Vancouver products. The best way to think about retirement is to have your money outlive you so that future generations will be well taken care of.
Life insurance Vancouver is a great product to help you do this.
In order to have a better mindset and a better life Thomas Chan helps you understand the myths that surround retirement. He wants you to understand what it takes to have a vibrant, sustainable and abundant retirement lifestyle. Many people feel they do not need to save that much because they do not need that much money when they retire. The problem with this thinking is it is not living in the reality. As time goes by cost more to live for the same products and services you already enjoy.
Because of inflation, taxes and rising healthcare costs you will have to plan for more than you think. The other thing to keep in mind is that the average life expectancy is 82 and climbing. You will need to plan for longer than this not up to this age.
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If you still plan on working well after retirement age as your retirement strategy you will be fooling yourself that this would be a good choice. Technology is always changing and advancing and that is directly affecting the work industry and the workforce. As you age it will be harder to keep up with these changes and you might find yourself struggling more and more. You might even have bossed changes in ownership changes that will affect the quality of your work place.
Another thing to consider is your health might deteriorate and you might have rising healthcare costs on top of it. You might not be able to work as much or even at all by the time you get to this age. Your children should not be expected to take care of you as a retirement plan. You want to remember that your money should outlive you so that future generations can beating care of. Not the other way around. Your children will likely have financial struggle of their own and it is important you do not put the burden on them to take care of you at this stage of your life.
Your spouse may not be able to take care of you as you retire because they might not be working as it is or you might not even be married anymore. The income levels are not balanced between spouses. So even if you have grown accustomed to living a set a certain level of income you may not have that option when you get to the retirement age. This all depends on who is continuing to work. Again, the divorce rate is more than 40% so that leaves the uncertainty of even having a spouse to take care of you.