{"id":621,"date":"2020-10-29T06:15:45","date_gmt":"2020-10-29T06:15:45","guid":{"rendered":"https:\/\/www.thomascchan.com\/old\/?page_id=621"},"modified":"2021-03-25T16:21:57","modified_gmt":"2021-03-25T16:21:57","slug":"traditional-retirement","status":"publish","type":"page","link":"https:\/\/www.thomascchan.com\/old\/traditional-retirement\/","title":{"rendered":"Redefining Retirement"},"content":{"rendered":"\n\n\t<h1>Why Contributing To Your RRSP\u00a0is <strong>NOT<\/strong> The Best Way To Thrive In Your\u00a0 <strong>Golden Years<\/strong><\/h1>\n\t<meta itemprop=\"url\" content=\"https:\/\/www.thomascchan.com\/old\/wp-content\/uploads\/2020\/12\/retirement_1m_nointro.mp4\" \/><div style=\"width: 640px;\" class=\"wp-video\"><!--[if lt IE 9]><script>document.createElement('video');<\/script><![endif]-->\n<video class=\"wp-video-shortcode\" id=\"video-621-1\" width=\"640\" height=\"360\" preload=\"metadata\" controls=\"controls\"><source type=\"video\/mp4\" src=\"https:\/\/www.thomascchan.com\/old\/wp-content\/uploads\/2020\/12\/retirement_1m_nointro.mp4?_=1\" \/><a href=\"https:\/\/www.thomascchan.com\/old\/wp-content\/uploads\/2020\/12\/retirement_1m_nointro.mp4\">https:\/\/www.thomascchan.com\/old\/wp-content\/uploads\/2020\/12\/retirement_1m_nointro.mp4<\/a><\/video><\/div>\n\t\t\t<a href=\"https:\/\/calendly.com\/thomaschan\/secureyourretirement\" target=\"_blank\" role=\"button\" rel=\"noopener\">\n\t\t\t\t\t\t\tSchedule a call for your retirement breakdown\n\t\t\t\t\t<\/a>\n\t<h1><strong>\u00a0 <b>Most People Enter Retirement On A Strict Budget<\/b><\/strong><\/h1>\n\t\n<p>Right now, the government is giving out benefits like candy.\u00a0<\/p>\n<p>Which is fine, but have we considered the consequences? What unexpected financial crisis lies in wait for us?<\/p>\n<p>A crash? Hyperinflation? The shattering of the economy and the reduction of retirement benefits?<\/p>\n<p>The value of money is already shrinking and inflation is crushing our buying power.<\/p>\n<p>With Canadians under so much pressure, how could they possibly prepare for retirement?<\/p>\n\t<h1><strong><img loading=\"lazy\" src=\"https:\/\/www.thomascchan.com\/old\/wp-content\/uploads\/2018\/07\/team-free-img.png\" alt=\"\" width=\"115\" height=\"115\" \/>\u00a0 <b>The &#8220;experts&#8221; give you the same bunk advice about &#8220;setting a weekly budget&#8221;, but will that get you the life you want?<\/b><\/strong><\/h1>\n\t\n<p>&#8220;Set a weekly budget&#8221;, &#8220;Be more frugal&#8221;, &#8220;Save 20% of your income&#8221;<\/p>\n<p>The advice you constantly hear from family, friends, or advisors all your life.<\/p>\n<p>This is the classic &#8212;<\/p>\n\n<p>This is an unclear strategy focused on accumulating assets.<\/p>\n<p>And when people hear this, they end up creating their own strategy.\u00a0<\/p>\n<p>People just save what they can.\u00a0<\/p>\n<p>But most don&#8217;t. With life&#8217;s ups and downs, many don&#8217;t even think of a plan.<\/p>\n<p>This is very risky.\u00a0<\/p>\n<p>Some people end up losing over half their money to inflation. At a 3% inflation rate, after 40 years your buying power reduces by 70%! <\/p>\n<p>That means a<strong> $3 coffee will be $10<\/strong>.<\/p>\n<p>Others might lose to a crashing market. And others, face sickness or unforeseen accidents.<\/p>\n<p>With an unclear strategy and even more unknowns, we have left with stressed and confused Canadians.<\/p>\n\n\t\t\t<a href=\"https:\/\/calendly.com\/thomaschan\/secureyourretirement\" target=\"_blank\" role=\"button\" rel=\"noopener\">\n\t\t\t\t\t\t\tScheduling a call for your retirement breakdown\n\t\t\t\t\t<\/a>\n\t<h1><strong><img loading=\"lazy\" src=\"https:\/\/www.thomascchan.com\/old\/wp-content\/uploads\/2018\/07\/excellence-free-img.png\" alt=\"\" width=\"123\" height=\"123\" \/> <b>We Save Money Our Entire Lives Only To Have No Idea What To Expect When We Retire<\/b><\/strong><\/h1>\n\t<p>Let me explain.<\/p>\n\n<p>&#8212; It actually does!\u00a0 If followed, and in a &#8220;perfect world&#8221;, you should have your home paid off. Plus you should have enough to survive.<\/p>\n<p>But that&#8217;s the problem.\u00a0First, you NEED a perfect world. <\/p>\n<p>Second, it&#8217;s ONLY enough to survive. So what ends up happening is there is this huge gap between the reality and the dream of the golden years.<\/p>\n<p>After speaking to many seniors, I discovered that they want two things&#8230;<\/p>\n\t<h1><strong><img loading=\"lazy\" src=\"https:\/\/www.thomascchan.com\/old\/wp-content\/uploads\/2018\/07\/integrity-free-img.png\" alt=\"\" width=\"117\" height=\"117\" \/>\u00a0 \u00a0Most Just Want Security And Comfort<\/strong><\/h1>\n\t<p><img loading=\"lazy\" src=\"https:\/\/www.thomascchan.com\/old\/wp-content\/uploads\/2020\/10\/senior-3336451_1280-300x225.jpg\" alt=\"\" width=\"440\" height=\"330\" \/>Yeah, that&#8217;s it, it&#8217;s very simple.<\/p>\n<p><b>Security is knowing. <\/b>Knowing there is enough cash for the basics, health care is covered and help can be hired around the home.<\/p>\n<p><b>Comfort is freedom. <\/b>Freedom to go on vacations, seeing family, and living in your own home.<\/p>\n<p>My goal is to help those who want a secure yet comfortable retirement life and are open to modern-day strategies.<\/p>\n<p>For example, no one tells to you about how &#8212;<\/p>\n\t<h1><strong><img loading=\"lazy\" src=\"https:\/\/www.thomascchan.com\/old\/wp-content\/uploads\/2018\/07\/aerospace-free-img.png\" alt=\"\" width=\"120\" height=\"120\" \/>\u00a0 \u00a0Putting Money Into Your RRSP Reduces Retirement Benefits<\/strong><\/h1>\n\t<p>Here&#8217;s why.<\/p>\n<p>With more money in the RRSP, you will have a larger RRIF.<\/p>\n<p>RRSP becomes a RRIF at age 71 and it&#8217;s mandatory that money is withdrawn, incurring higher income and tax.\u00a0<\/p>\n<p>A higher-income reduces your government benefits such as Old Age Security (OAS) and Guaranteed Income Supplement (GIS)<\/p>\n<p>It&#8217;s a tough pill to swallow but&#8230;<\/p>\n\t<h1><strong><img loading=\"lazy\" src=\"https:\/\/www.thomascchan.com\/old\/wp-content\/uploads\/2018\/07\/focus-free-img.png\" alt=\"\" width=\"148\" height=\"148\" \/> \u00a0You Spend Your Life Saving Only To Have Your Benefits Reduced<\/strong><\/h1>\n\t<p>This is why I spend the time educating and helping seniors understand these hidden road bumps such as these.<\/p>\n<p>My strategies include:<\/p>\n<ul>\n<li>How to <b>beat inflation and maintain buying power<\/b>? (If you live into your 90s your buying power is reduced by half.)<\/li>\n<li>A strategy that works with RRSP to <b>PREVENT<\/b> the reduction of government benefits.<\/li>\n<li>How to protect your wealth when there are unexpected health problems<\/li>\n<\/ul>\n\t\t\t<a href=\"https:\/\/calendly.com\/thomaschan\/secureyourretirement\" target=\"_blank\" role=\"button\" rel=\"noopener\">\n\t\t\t\t\t\t\tSchedule a call for your retirement breakdown\n\t\t\t\t\t<\/a>\n\t<h1><strong>By Now You Have Seen My Picture And Are Thinking&#8230;<\/strong><\/h1>\n<h1><strong>You&#8217;re Just A Kid! How Can You Possibly Coach Me On Money And Retirement?<\/strong><\/h1>\n<p>&nbsp;<\/p>\n\t<p>Hi, my name is Thomas Chan<\/p>\n\n<p>With 8 years of experience, I am extremely grateful that I get to help clients build their retirement life <b>in reverse order<\/b> &#8211; More on that later&#8230;<\/p>\n<p>Back to the main concern&#8230;<\/p>\n<p>If I&#8217;m young, and not retiring soon, how could I possibly know <strong>ANYTHING<\/strong> about your retirement?<\/p>\n<p>Well, 3 things:<\/p>\n<ol>\n<li>My high energy keeps me updated on the latest from Canada and I continuously train from different financial experts. I condense all of that value and bring it to my clients.<\/li>\n<li>Being young allows me to support, and be that <b>personal guide<\/b> to walk my clients through their retirement years.<\/li>\n<li>I feel the pain after seeing parents and other seniors go through it<\/li>\n<\/ol>\n\n<p>But enough about me, this is about you<\/p>\n\n<p>If you are looking to park your money in some account for me to &#8220;monitor&#8221; then I&#8217;m sorry, but I&#8217;m not the advisor for you.<\/p>\n<p>Most advisors can help you transfer your money into an RRSP or RRIF account.<\/p>\n<p>But if you are looking for that personal guidance to lead you through the expected and unexpected events of retirement life, then let&#8217;s talk.<\/p>\n\t\t\t<a href=\"https:\/\/calendly.com\/thomaschan\/secureyourretirement\" target=\"_blank\" role=\"button\" rel=\"noopener\">\n\t\t\t\t\t\t\tSchedule a call for your retirement breakdown\n\t\t\t\t\t<\/a>\n\t<p><img loading=\"lazy\" src=\"https:\/\/www.thomascchan.com\/old\/wp-content\/uploads\/2020\/11\/happyretire-244x300.jpg\" alt=\"\" width=\"378\" height=\"465\" \/>During your golden years, finances become much more predictable. I want to learn about your interests, travel, and events that fill your day.<\/p>\n<p>If you live till your 90&#8217;s your money&#8217;s value shrinks by half. We want to prepare a plan that ensures you <b>maintain your buying power<\/b>.<\/p>\n<p>With a higher chance of health decline, we want to set up safeguards to <b>hedge against heavy medical bills<\/b>.<\/p>\n<p>It&#8217;s a combination of living out your golden years while staying flexible to whatever life throws at you.<\/p>\n<p>The ultimate goal is:<\/p>\n\t<h1><strong><img loading=\"lazy\" src=\"https:\/\/www.thomascchan.com\/old\/wp-content\/uploads\/2018\/05\/agro-free-img.png\" alt=\"\" width=\"121\" height=\"121\" \/>\u00a0 \u00a0Security And Comfort In Harmony<\/strong><\/h1>\n\t<p>The modern approach to retirement is looking at <strong>ALL<\/strong> options available.<\/p>\n<p>So if you prefer the traditional financial advisor approach where you just contribute to RRSP and retire.<\/p>\n<p>That&#8217;s ok, I&#8217;m not the right advisor for you.<\/p>\n<p>But if you wish to LIVE your golden years with security and comfort<\/p>\n\n<p>This isn&#8217;t a closing call.<\/p>\n<p>Instead, it is for me to get to know you and give you a <strong>personalized retirement snapshot<\/strong>.<\/p>\n<p>To a secure future<\/p>\n\n\t\t\t<a href=\"https:\/\/calendly.com\/thomaschan\/secureyourretirement\" target=\"_blank\" role=\"button\" rel=\"noopener\">\n\t\t\t\t\t\t\tSchedule a call and get your personalized retirement snapshot\n\t\t\t\t\t<\/a>\n\t<h1><strong>QUESTIONS?<\/strong><\/h1>\n<h1><strong>Email me at &#8211; <a href=\"mailto:thomaschan@novellawealth.com\">thomaschan@novellawealth.com\u00a0<\/a><\/strong><\/h1>\n\n","protected":false},"excerpt":{"rendered":"<p>Why Contributing To Your RRSP\u00a0is NOT The Best Way To Thrive In Your\u00a0 Golden Years Schedule a call for your retirement breakdown \u00a0 Most People Enter Retirement On A Strict Budget Right now, the government is giving out benefits like candy.\u00a0 Which is fine, but have we considered the consequences? What unexpected financial crisis lies &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/www.thomascchan.com\/old\/traditional-retirement\/\"> <span class=\"screen-reader-text\">Redefining Retirement<\/span> Read More \u00bb<\/a><\/p>\n","protected":false},"author":2,"featured_media":700,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_uag_custom_page_level_css":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v16.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Redefining Retirement | Thomas Chan<\/title>\n<meta name=\"description\" content=\"Discover why contributing to your RRSP is NOT the best way to thrive during your retirement, in fact, it reduces government benefits.\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Redefining Retirement | Thomas Chan\" \/>\n<meta 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Chan","author_link":"https:\/\/www.thomascchan.com\/old\/author\/thomascchan\/"},"uagb_comment_info":0,"uagb_excerpt":"Why Contributing To Your RRSP\u00a0is NOT The Best Way To Thrive In Your\u00a0 Golden Years Schedule a call for your retirement breakdown \u00a0 Most People Enter Retirement On A Strict Budget Right now, the government is giving out benefits like candy.\u00a0 Which is fine, but have we considered the consequences? What unexpected financial crisis lies&hellip;","_links":{"self":[{"href":"https:\/\/www.thomascchan.com\/old\/wp-json\/wp\/v2\/pages\/621"}],"collection":[{"href":"https:\/\/www.thomascchan.com\/old\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.thomascchan.com\/old\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.thomascchan.com\/old\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thomascchan.com\/old\/wp-json\/wp\/v2\/comments?post=621"}],"version-history":[{"count":10,"href":"https:\/\/www.thomascchan.com\/old\/wp-json\/wp\/v2\/pages\/621\/revisions"}],"predecessor-version":[{"id":1098,"href":"https:\/\/www.thomascchan.com\/old\/wp-json\/wp\/v2\/pages\/621\/revisions\/1098"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.thomascchan.com\/old\/wp-json\/wp\/v2\/media\/700"}],"wp:attachment":[{"href":"https:\/\/www.thomascchan.com\/old\/wp-json\/wp\/v2\/media?parent=621"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}