Financial Planning for Seniors
Retirement marks a significant life change. Careful financial planning is essential to enjoy this phase comfortably.
Key Financial Considerations for Seniors
- Income Sources: Maximize income from pensions, RRSPs, TFSAs, and government benefits (CPP, OAS).
- Expense Management: Create a retirement budget considering healthcare, housing, travel, and leisure.
- Estate Planning: Review and update wills, powers of attorney, and beneficiary designations.
- Long-Term Care: Plan for potential long-term care needs and explore insurance options.
- Tax Optimization: Utilize tax-saving strategies to maximize after-tax income.
First Foundation Support for Seniors
First Foundation offers a range of services tailored to seniors' financial needs:
- Retirement Income Planning: Develop a comprehensive plan to maximize income and minimize taxes.
- Estate Planning Services: Protect your assets and ensure a smooth transition for your beneficiaries.
- Insurance Solutions: Review your insurance coverage to address changing needs, including long-term care insurance:
- Financial Advice: Access expert guidance on managing your finances in retirement.
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