Can you afford retirement?

It’s a simple yet important question that many people don’t know the answer to

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One of the most common questions we get asked is “how much do I need in retirement?” A general rule of thumb is 70 to 80 per cent of your pre-retirement income is needed. This of course can be adjusted to suit preference and lifestyle. A financial plan can give you an accurate projection of what retirement will look like for you.

A Weyburn Security Peak Investments financial plan will include:

Projections of after-tax spending per year. This means we factor inflation and tax into the amount you need to withdraw to meet your required annual spending amount.

Income projections. We include any source you may receive income from including CPP, OAS, Pensions, Inheritance, Income Splitting, Employment Income, RRSPs, RRIFs, TFSAs, Corporate Dividends, etc.

Indexing, Inflation and Growth. We adjust income to keep with inflation (indexing). We factor in an average rate of inflation which is based on historical rates. Growth rates are applied to the assets you hold such as mutual funds. They will be based on your investment style and risk tolerance. CPP and OAS are adjusted for inflation.

Tax. We calculate your taxable income each year. We also calculate estate tax each year in the event you died, and a taxable scenario came to fruition. Rates are calculated based on the income taken and provincial/ federal rates.

Corporate Planning: We factor in dividends paid from a corporation to you personally and align it with your retirement income goal in the most tax efficient way.

Order of withdrawals: We make sure you are pulling from the correct accounts to maximize tax and income efficiency.

Estate planning: We provide a value of your estate at death each year and how much tax would be owed on that estate allowing you to plan for the situation.

Give us a call at 306-842-2841 and we can provide you with a financial plan whether you’re a client or not. Plus, check out our new website at weyburnsecurity.ca.

Did you know?

Weyburn Security has a long history dating back to 1899 when the "Canadian Investment Company" was founded by six American businessmen. In 1902, those six businessmen formed Weyburn Security Company partnership whose business was in lumber sales, insurance, mortgages, and private banking. At a meeting in 1910, the company had enough confidence in the surrounding area to commission the building for the head office of Weyburn Security Company which would later become the Weyburn Security Bank (the current CIBC building) . The Weyburn Security Bank was held separately from the Weyburn Security Company with each doing their own business but helping each other.

In 1926 H.O. Powell, the acting manager wanted to separate the company from the bank to protect the company’s future, so he filed incorporation papers for the company to create our company today–Weyburn Security Company Limited. Weyburn Security Company was primarily dealing with land sales and longerterm mortgages when the bank was operating. In 1931 the Weyburn Security Bank was sold to Imperial Bank, who later merged with the Bank of Commerce to form what we now know as CIBC. Weyburn Security Company continued to operate and diversify into many aspects of business to form what the company is today.