THUNDER BAY – LIVING – A financial advisor can play an important role at any stage of your life, starting with your first mortgage to your retirement. Advisor’s can provide you with guidance and support which will help instill good savings and investing habits over time. They can provide you with additional education and the context to help you understand and gain confidence in the plan you’ve set for yourself. They can also help you with other services, such as wills and estates, insurance needs, and tax planning.
Building Your Wealth
Canadians working with advisors are shown to have three times the net worth, and four times the investable assets of those who don’t work with an advisor. Truth is, most Canadians who work with an advisor started with investible assets of under $25,000.
Keeping Your Goals on Track
Investment returns can be important, but saving on a regular basis is equally as important when it comes to achieving your financial goals. Advisors help Canadians save up to 20% more than a Canadian without an advisor.
Having Confidence in Your Plan
Sticking with a financial plan can be challenging, especially through difficult times in your life or even volatile markets. Having professional advice can play a vital role in sticking with your long-term goals during economic downturns or unexpected events.
Gain Tax Efficiency
There are a number of tax-efficient options available to Canadians, such as RRSPs, TSFAs, RDSPs, and RESPs. Advised Canadians take advantage of tax-sheltered registered accounts at twice the rate of non-advised Canadians. For non-registered investments, they can provide you with options on corporate class strategies that are designed for tax-efficiency.
The Bottom Line
Today’s advisors provide you with more than just investment recommendations. Your advisor can provide you with many financial services such as retirement planning, tax planning, insurance solutions, generational wealth planning, and estate planning. An advisor can only direct you when given the opportunity, with the rest being up to you.
If you would like to sign up for my free monthly investment newsletter, feel free to email me at firstname.lastname@example.org with your name and email.
Anthony M. Talarico
Financial Security & Investment Representative
W: (807)343-4788 ext. 4248
Sources: “Value of Financial Advice” – Ipsos Reid, IFIC, October 4, 2011.