Retirement Planning

[After successful careers Jean-Pierre and Sharon have entered retirement.]

[This is their story.]

[Jean-Pierre and Sharon Recently retired – RBC Wealth Management Clients]

[Jean-Pierre:] For me, it's very easy. In retirement what I want to do, I want to do- what I want to do, when I want to do it. That’s it.

And obviously financial security is key.

[Sharon:] We wanted to know that our finances were being handled properly, while looked after.

[Jean-Pierre:] And at that time, I was dealing with four different financial institutions. So, I decided to consolidate everything within one.

Since we decided to consolidate our financial affairs, we're taking full advantage of every service.

[Bryan Stephens, CFA, MBA, CFP, TEP Investment Counselor RBC Phillips Hager and North Investment Counsel Inc.]

[Bryan Stephens:] They were looking at consolidating things. They didn’t really know what the assets were going to deliver in terms of an income.

We brought the assets and did the financial planning on projections and showed them that you actually have more income than you thought. Then we moved on to bring other experts to talk to them about trust structures and tax planning and estate planning.

[Adelle Léger, CPA, CA, CFP Vice-President, Financial Planning Specialist RBC Wealth Management]

[Jean-Pierre:] We had the very comprehensive financial plan that was done for us, through Adelle. That was a great service.

[Adelle Léger:] As many parents want to do- they want to help their children and their grandchildren.

They wanted to make sure that they could do: A) Do it and still reach their financial goals, but also do it in a more tax-efficient manner. So, we suggested that they set up a trust so that they could income split on the investment income derived from that capital

[Jean-Pierre:] We had a will but it was would you say twenty years outdated.

[Sharon:] Oh no, no, no. Thirty-five. Thirty-five years out dated.

[Jean-Pierre:] So, it was a great suggestion to say “you better bring your will up to date.”

So, we did that through the Estate Planning offered by Kathryn.

[Kathryn Aitkenhead, LL.M., CFP, TEP Vice-President, Will and Estate Consultant RBC Wealth Management]

[Sharon:] She really asked a lot of questions about our family. So that she could steer us in the right direction based on what we wanted

[Jean-Pierre:] Because none of us are experts in Estate Planning and this is a very important part of your life and your financial security and it was nice to deal with an expert in this area.

[Rosie Marrone Private Banker RBC Wealth Management]

[Rosie Marrone:] We form a team and all of us work together in providing a customized financial solution.

The financial plan that we provided the demonstrated to them that all the lifestyle goals that they had for themselves were going to be met and then some

[Jean-Pierre:] It provided us a feeling of security. Would you say? [Asking Sharon and Sharon nods in agreement]

Knowing that, you know, the money was there.

Not only for us but also for our children and grandchildren. That was important to us.

[Sharon:] It's a big relief and you just know that you’re going to go forward with your life and in the manner that you want to.

[Jean-Pierre:]And you can't put a price to this.

[Sharon:] It’s invaluable.

[Jean-Pierre:] Yeah, invaluable.

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