Life Insurance Vancouver | Working is Not Retiring
When it comes to choosing a life insurance Vancouver you wannt to have someone like Thomas Chan to help you understand what you need in reference to your goals. He is a trusted financial advisor that can help you build wealth, plan for retirement and choose the right life insurance Vancouver products. He is really passionate about helping build a better mindset and a better life. What Thomas Chan has discovered is that taxes are the single biggest expense that families will face Ever since the 1960s.
He wants to help you save your money from taxes and protect your income through the use of life insurance Vancouver products. By building your wealth so that it outlives you and still having enough vibrant and abundant retirement you can rest easy. When Thomas sits down with people, he discovers that there are very common Misconceptions when it comes to retirement.
Many people feel that they do not need that much money when they retire. The problem with this thinking is that if you do not plan to have enough you will automatically plan to be poor. They used to consider and how much you need to sock away our inflation, taxes and unexpected healthcare costs. Because the average life expectancy is high at 82 years old no need to plan for longer than that. You will need more for retirement than ever expected.
Many people feel that their children will take care of them upon retirement. You have probably heard people jokingly say this but there are many people actually feel that this is a legitimate way to retire. This is a huge burden for the children of the retirees. In many cases your children will likely have their own financial struggles that they need to meet before they can even begin to think about helping you in your retirement.
Your spouse will not be a way for you to retire. In many cases there is an balance between the spouses on income levels. The one who makes more money is not necessarily the one who will still be working at retirement age. There are factors to consider when thinking about this option. The divorce rate is quite high at 40% may not even be married by the time comes to retire. One spouse may not be able to work and therefore their income will disappear.
May plan on still working past retirement age and therefore are not thinking about putting money away for retirement. The problem with this thinking is that technology is changing so fast and it is hard to keep up especially as we age with those changes. The work industry has moved more to online and that takes a different skill set than most people are able to display at this point in time. You may not be able to work as much either because of your own health issues that could change how long you stay in the workforce.
Life Insurance Vancouver | Technology Changes
Thomas Chan is a trusted advisor for wealth, planning for retirement and protecting your money using life insurance Vancouver product. He has studied the best ways to protect your income by using life insurance Vancouver. This technique allows you to save on taxes so that the future generation will be taken care. One of its core values is to help protect your income and your wealth and grow it. Knowing your money will outlive you and yet still live a vibrant and abundant retirement puts people at ease when they come to the end of their own life.
Because taxes are the biggest expense of families face since the 1960s Thomas Chan has learned There are ways to set up life insurance Vancouver to help save in this area. He is willing to share the 15 secrets of the taxman does not want you to know so that you can have a better mindset and a better life. One of the first ways to help you with anything to do with retirement and building wealth is to understand what is truth and what is a myth.
Many people think that they will still work late into their life. If all goes well this does work out but many times there are other factors to consider that could inhibit this plan. For one thing your health may not allow you to do this and you might have to cut back your hours or retire completely. You cannot plan to keep working as your retirement strategy. Technology has changed and so has the work industry. Many jobs have moved to an online place and that is not an easy thing to learn later in life.
Thinking that your spouse will take care of you and your retirement is not only selfish but it is foolish. The income levels may be unbalanced between the spouses and therefore if one is not able to carry the both of you it could be quite problematic. This is something thing of a concern and you should have some open communication with your spouse about it. Something else to keep in mind is that the divorce rate is 40% or higher so you may not even be with your spouse when it comes time to retire.
These are not things people like to think about but these are the statistics so they are not easy to ignore. It is better for you to understand and be prepared then leave things for chance and live a poor life when you are supposed to be living abundantly and vibrantly at the end of it.
You may not think that you need that much money when you retire but that is something you need to face with reality. Things such as inflation, taxes or other expert at healthcare costs all come into play and how much you need to retire on. 82 is the average life expectancy so you should always plan for longer than that.