Retirement
Spending
Planning

My monthly expenses are almost always the same. I never worry about spending a little extra when I go shopping or having a night out with friends.

If the roof needs to be replaced or I need a new vehicle, I know exactly which investment I should use to pay for it.

If I feel short of cash before leaving for a long trip, I know exactly where to get money from.

I have enough monthly income to support my lifestyle, but I also make extra withdrawals from my RRSP’s as part of a tax savings strategy.

I plan on selling my house one day to supplement my retirement income. After I do, I know exactly how I will invest the money so I can continue to live off of the proceeds.

Once I retire, I know exactly where my monthly income will come from and how much I will receive.

I have no concerns about running out of money in retirement.

I still have a part time job, but it’s only because I want to keep busy; not because I need the extra income.

My retirement income plan includes a strategy to draw down my RRSP’s on top of my pension plan so that I never end up with a huge tax bill.

If I have to choose between leaving money to the government, or leaving money to my loved ones or my favourite charity, I choose my loved ones and charity. I know exactly how to do that.

I have named beneficiaries on all my investments so that in the event of my passing, they will bypass the estate and probate fees and go directly to my loved ones.

My executor is aware of all my final wishes.

My will is up to date and it aligns with all my named beneficiaries.

I understand that it will probably take 18 to 24 months to “Clear” my Estate. My dependents won’t need any additional money during that period.

I am not worried about how my estate will pay for all the taxes that comes from clearing my estate.

If I were to pass away, I have sufficient insurance and investments so that my spouse will still be able to maintain their current lifestyle.

I am divorced/widowed and remarried. I am worried that should I pass away, my birth children will fight over my estate with my new spouse/step children. I have already made a plan to address this with my advisor and legal team.

I am really concerned about leaving a large inheritance to my son/daughter. My current advisor has shown me ways I can create monthly or yearly installments instead.

I love my Grandchildren and I want them to receive an inheritance from me. My advisor has set up my investments so that in the event of my passing, a portion will go directly to them and be held in trust until they are adults.

My current advisor has shown me ways that I can leave money to my church or favourite charity that will leave a lasting legacy, and drastically reduce my tax bill.

I have already been to the funeral home to pre pay for everything in case something were to happen to me.

I know exactly how much funeral services and cemetery plots cost.

I am comfortable with leaving all of the planning for my funeral and burial to my family after I have passed.

I understand that there are ways I can use life insurance to pay for my funeral even if I’m already a Senior.