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Nearly two thirds (65%) of Canadians do not have a retirement financial plan in place. Without a retirement plan, it is impossible to know when you can retire and what your lifestyle will be like in retirement.
A retirement plan provides clarity and direction as to when you can retire. Instead of saving money without a purpose, a good retirement plan tells you how much you need to set aside, what types of investments you need to purchase, and when you can expect to retire.
However, even with a sound retirement plan, high investment and advisor fees can take away from your returns. While you can't control the markets, you can control how much of your returns are lost due to fees. As a result, all of our retirement plans include information on how to construct a low fee index fund investment portfolio.
Please review our services for further details.
Our primary service is the creation of a complete retirement financial plan. This plan incorporates your current savings, personalized budgets created for both pre- and post-retirement, detailed rate of return calculations, and educational information on how you can select the lowest fee funds that meet your needs. This service is offered on an ongoing monthly subscription basis. Active clients can have a financial plan created or refreshed every month, which ensures that you consistently have an up to date and personalized financial plan.
We are experienced building detailed and custom financial models that can help you make sense of any complex financial decisions you may be faced with. We can assist in modelling decisions such as: mortgages (fixed or variable), car purchases (cash, lease, finance), or even which credit card has the best rewards program! Please contact us via the form at the bottom of this page with a description of the problem that you would like to have analyzed and we will reply back to you with a cost estimate of our services based on an hourly fee rate.
If you are ready to create your retirement financial plan, please sign up for our service by selecting "Join" on the menu at the top of our website. Please contact us using the form at the bottom of our website if you have any questions, or would like to receive an estimate for a custom financial model.
Our Thoughts on Personal Finance
Simplified Retirement Planning
Every average Canadian will eventually retire; leave the workforce and live off the income that they have saved. For most people, retirement will happen around the age of 65, and it usually comes with a significant drop in income. According to a Statistics Canada report that looked at incomes in 2012, 12% of all seniors are Read more about Simplified Retirement Planning[…]
Canada’s 2016 Federal Budget
In March 2016, Canada’s Federal Government released a new budget, which outlines the fiscal plan for the next year. If you want to take a look, the budget document can be found here. Included in the budget are several changes to taxes, tax credits, and benefits. This article will summarize the changes most likely Read more about Canada’s 2016 Federal Budget[…]
Overview of Derivatives
Derivatives are another major type of financial instrument. We introduced two other major types in our earlier articles on fixed income and equities. As the name implies, the value of a derivative is derived from something else, whether an index, interest rate, debt, or physical asset. In terms of size, derivatives dwarf equities and Read more about Overview of Derivatives[…]
Overview of Equities
An equity investment refers to the ownership of stock or shares in a corporation. A typical investor acquires equities by purchasing them on the open stock market. Companies that are listed on the stock market are publicly traded, so the purchase of equities is open to anyone with an investment account. It is also Read more about Overview of Equities[…]
Overview of Fixed Income
Introduction This post will present a general overview of fixed income investments. For some more specific examples, take a look at our previous post on the subject. A fixed income product is an investment that makes regular interest payments over a length of time. The interest payment amounts are typically determined at the time the investment Read more about Overview of Fixed Income[…]
Life Expectancy
Life expectancy is an important topic for retirement planning. To make sure you can live comfortably throughout your entire life, you need to know how long you will need to support yourself. To get an idea of life expectancy, we can consult the information provided by the government. Since we are based in Canada, we will Read more about Life Expectancy[…]
TFSA Update – Year End 2015
Update: The federal government has clarified their plans for the Tax-Free Savings Account (TFSA). The TFSA contribution limit for 2016 will be reduced to $5,500 as planned. Everyone will be able to carry any unused contribution room into the next year, giving a cumulative contribution limit of $46,500 for 2016. Our last article Read more about TFSA Update – Year End 2015[…]
Real vs. Nominal Values
It is useful to make the distinction between real and nominal values as these concepts are intrinsically related to inflation and used in the financial plans that we build at Exponeta Financial. In addition, these concepts are frequently encountered in economic and financial data sets. At a high level, nominal values include inflation, and real Read more about Real vs. Nominal Values[…]
Inflation
In previous articles we traced the development of money from ancient barter systems to modern day fiat currency. One of the unavoidable realities of money throughout history is that as its supply increases, its value per unit decreases. This is the fundamental principle behind inflation which will be described in this article. Definition Inflation is Read more about Inflation[…]
The History of Money – Part V
In this series we have reviewed the development of money from barter systems to commodity money to bank notes and representative money. In this final entry, we will discuss modern day fiat currency. Definition A brief definition is in order before proceeding further: Fiat: a formal authorization or proposition; a decree an arbitrary order Origin: Read more about The History of Money – Part V[…]