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Building Wealth – Take Control Of Your Retirement Planning
Working hard, advancing our careers, or building our business is how most of us will spend our lives as a means to save income, accumulate wealth and reach financial independence. However, building wealth is not as simple as saving money or making a high salary. Wealth building requires emotional discipline, wisdom, foresight, recurring reviews and analysis, and adjusting the plan as your personal and financial needs change.
If you are at the stage where you are building your wealth, the MLD Wealth Management Group can guide you through this process and ensure you address the necessary questions:
What age do you plan to retire and how much capital do you need to maintain your desired lifestyle?
Do you know the rate of return required on your portfolio to meet your capital requirements?
Do you know what type of asset mix and risk tolerance you need to achieve your target rate of return?
Do you know what rate of return you are earning on assets after fees?
Have you made a comprehensive financial plan that takes into account all these variables and have you reviewed this plan in the last three years?
Are you aware of how the economic and tax landscape is changing and what is the best asset mix for these times?
At MLD Wealth Management Group, we believe that creating a comprehensive financial plan that meets your goals and objectives begins with a detailed analysis of your current financial situation and desired future. Beginning from a position of understanding helps us determine what kind of financial tools, instruments, and types of opportunities will help you achieve your financial targets most effectively.
As an example, if you are a business owner, executive, lawyer, doctor, engineer, there are several questions, once answered, that can help you save your income.
Are you splitting your income with your spouse as effectively as you can to minimize taxes?
Have you optimized your compensation structure to pay the optimal tax bracket?
Are you aware of the additional tax credits an Individual Pension Plan (IPP) can provide when compared to a Registered Retirement Savings Plan (RRSP)?
Are you making strategic investments in the most efficient way to achieve and optimize tax outcome?
As an example, if you are a business owner, executive, lawyer, doctor, engineer, there are several questions, once answered, that can help you save your income.
Protect your wealth against inevitable up and downs
Now that you are seeing the results of the wealth building initiatives that you have put into action, it is time to contemplate another important aspect of managing your assets; wealth protection. Wealth protection is achieved through various strategies with the intent of averting the many risks that stand between you and financial independence.
Whether you are thriving as a successful executive, growing your business, or supporting your family in their endeavours, a comprehensive financial plan that is regularly visited and iterated ensures that your ongoing investment and risk management needs are being met. With the MLD Wealth Management Group, our financial advisors will help you answer the following questions:
How have you structured non-correlated investments such as real estate or private equity to diversify your portfolio?
How are you shielding your investment portfolio from market volatility?
Are your loans and mortgages structured in a way to reduce interest costs and capitalize on tax deductions?
Are your investments generating adequate income and cash flow?
Are you informed about all the potential tax credits available to fund your children’s education?
Are your insurance policies up-to-date, competitively priced, and tax-effective?
Have you considered and anticipated the potential costs of future health care?
At MLD Wealth Management Group, we believe that safeguarding your wealth against the market’s inevitable ups and downs is just as important as building your wealth. Our firm’s’ cash flow investment approach and broad asset allocation strategies will help provide stability and optimal outcomes for your comprehensive financial plan.
Leave a Legacy
From estate decisions to legacy planning, our team of wealth management specialists can help you design a financial plan that distributes your wealth as per your wishes. Work with us to help ensure your life’s work of wealth building becomes a legacy that will secure your family’s future and their future generations to come.
It is a privilege to be in the position to support others and to give to just causes throughout one’s lifetime. With that said, charitable giving isn’t limited to just your estate plan. With the MLD Wealth Management Group, our team of investment advisors will help you identify key issues and priorities and help you answer the following types of questions:
Have you contemplated whether your dependents have the financial acumen and discipline to manage their inheritance?
Does your most current will accurately represent your wishes regarding all important matters of your passing?
Are your charitable contributions as tax effective as possible?
Have you appointed a power of attorney –someone you know and trust– to handle your affairs if you’re incapacitated?
Have you looked at hiring a trustee to administer and act independently to navigate your estate?
Detailed estate planning and the drafting of your will is an essential part of the entire financial plan. It should be given the same amount of time and consideration as the other stages of your financial planning.
Speak with us today to talk more about planning your estate.