The goal of this Retirement Plan
- Projected retirement at the end of 2024 and would like to continue to live in current lifestyle
What We Do
Integrated Approach
Our integrated approach is built on years of experience. We work closely with you to identify your unique goals and lifestyle needs before creating a comprehensive detailed wealth strategy designed to help you achieve your short- and long-term goals as they evolve over time.
Discovery Process
Your goals are unique. That’s why Dattani Wealth Advisory Group takes the time to learn what’s important to you and build a wealth plan to help achieve it.During the discovery process, we will discuss strategies to help you become retirement-ready by discussing questions like:
- How much income is needed for the retirement you aspire to?
- How can you save enough to fund your retirement?
- How can you improve tax efficiency during retirement?
- When should you start taking your government benefits?
- Do you have an updated Will and Estate plan?
- Would you like to set up a charitable foundation?
Retirement Plan Snapshot
The following is a sample Retirement Plan for illustrative purposes only.
The assumptions made for this Retirement Plan
- Plan is projected to age 95
- Approximately $5 million in liquid investment assets comprised of corporate, non-registered, TFSA and RSP funds
- Receive CPP of $1,100/month and a pension of $2,000/month (indexed to inflation)
- Annual Income of $400,000 until retirement
- Receive full CPP upon retirement
- Receive OAS if eligible
- Annual dividend of $100,000 will be paid from the Law Corp beginning in 2025
- $200,000 will be gifted to children in both 2025 and 2026
- Inflation rate: 2%
- Rate of Return on Investments: 4%
- Retirement Annual Income desired: $200,000 after tax in today's dollars
The results of this Retirement Plan
- Based on these assumptions, the plan will comfortably meet income needs in retirement
- At the end of our projection, in 2050, the value of the investment portfolio will be $3.6 million
- This plan does not take into account principal residence