Life Insurance Vancouver | Retirement Plans
Thomas Chan is a trusted advisor that can help you with all your financial needs including life insurance Vancouver products. He helps you get a better mindset and a better life. Because we all know the taxes are the biggest expense families have faced ever since the 1960s. Thomas Chan has discovered how to use life insurance Vancouver products to protect yourself and your money from those taxes.
Future generations will be well taken care of but you can also live an abundant and vibrant retirement life. All by protecting your income and wealth but also growing it. By including life insurance Vancouver in your portfolio you can know that your money will outlive you and future generations will beat taking care of.
Before you can figure out how to retire and what you should do, you need to understand some common misbeliefs about retirement. Things like when to start saving and what the most efficient ways are. After Thomas spoke to many People about retirement he discovered some common myths. Many people believe that they can just keep on working through retirement age.
And although you feel good now the time you get to the retirement age you may not be as healthy or strong to continue to stay in the workforce. Of course you will not know this until the time comes a new best be prepared another way then to continue working. Technology changes also change the workforce and it might push you out because it is too much to learn these new changes at that age. The way things were done in the past is not the way they will be done in the future and that might push you out leaving you with no income or retirement plan.
A lot of people think their spouse will take care of them in retirement. The myth around this is that the one who makes more money will be the one who stays working. Typically the income levels are unbalanced between spouses and just because one makes more does not mean they will be the one who continues to work. This could leave both of you in a bad position for retirement. Another thing to remember is that the divorce rate is 40% and you could be one of those statistics.
Children should not be expected to take care of their aging parents in retirement. They have growing families of their own and retirement plans that they are setting up. They will likely have their own financial struggle and cannot possibly carry their parents into retirement and beyond.
Many people think I do not need that much money when I retire. This kind of thinking leads to being poor in your retirement. Things like inflation or taxes or even an unexpected healthcare cost can set you back in retirement. Did you know that 82 is the average life expectancy and you should plan for longer than that because many people live beyond that age.
Life Insurance Vancouver | Plan For Financial Freedom
Thomas Chan is the financial advisor you want in your corner when setting up life insurance Vancouver plans. He is knowledgeable about building wealth, retirement funds, and life insurance Vancouver needs. He has spoken with many people and has discovered many common misconceptions about retirement and how to do it gracefully. Taxes are the number one big expense for families and have been since the 1960s. Thomas wants to show you how to use life insurance Vancouver to help protect yourself and your money from those taxes.
He wants your future generations to be well taken care of by helping you protect your income and wealth as well as grow it. If you know that your money is going to outlive you you can retire with vibrancy and abundance and live in a peaceful state knowing your children will be taken care of too. Some common things to overcome our myths around how to retire and when to start planning for. A lot of people think they will just continue to work as their retirement option.
This is great when you are young and full of life and have no health issues but as we all know when we age these health issues do pop up and things change in the workforce. You might not be able to work as long or as much due to health concerns or even just learning abilities. Technology is always changing and making it harder to catch on to the new process of things. When we are older it is even harder to learn those new things and stay within the loop in the workforce.
Trusting that your spouse will take care of you in retirement is a false sense of security. There is going to be an imbalance between the spouses and their incomes and nobody ever knows who is going to be able to retire first. The lower income person might be the one who continues to work and then you are both left with less to retire on making you poor at retirement. This is not a situation you want to find yourself in and you want to make sure life insurance covers you for that.
Another thing to keep in mind is that the divorce rate is at 40% so you may not even be with your spouse when you hit retirement age. Expecting your children to take care of you in your retirement is somewhat selfish and foolish. They likely have their own financial struggles they need to take care of as well as a young family. In addition to this they would be planning for their own retirement.
You may feel you do not need that much money when you retire. The problem with this thinking is that you are clearly not factoring in inflation, higher taxes or even just unexpected healthcare costs. All of these things can pop up at a moment’s notice and you need to be prepared for them.