Darcy Feth - IG Wealth Management

Did you know? According to the 2021 Canadian Income Survey 🇨🇦, the average after-tax income for senior families was $69,900, while for senior individuals, it stood at $31,400.

► That breaks down to $5,825 monthly for couples and $2,616 for individuals.

But here's the question: Would this be enough to sustain your lifestyle if you retired tomorrow?

► Your retirement needs may vary greatly from these averages and depend on the lifestyle you envision post-retirement.

For instance, if you're 35 and planning to retire at 65, calculate the monthly sum you'd desire in retirement—adjusted for today's prices. If your target is $3,000 monthly post-tax, factoring in a 3% inflation rate over 30 years brings the future value to $7,282.

How do your retirement plans align with your financial goals?

If you need help then reach out to me to get a personalized report on your retirement.​

Harman was a professional living a comfortable life with his family. He was smart and savvy, always looking for ways to make sure his family was taken care of. That's why he decided to invest in life insurance, a decision which would prove to be the basis of his long term financial strategy.

Life insurance could provide Harman with peace of mind knowing that his family would be taken care of should anything happen to him. But what Harman didn't anticipate was that life insurance would provide more than just security. He soon realized that investing in life insurance could also help him build a strong financial portfolio.

Harman took advantage of the flexibility and benefits that come with life insurance, such as cash value accumulation and loan opportunities. He was able to take the money he put into life insurance and use it to fund investments, helping him diversify his portfolio and further secure his financial future.

Harman's story shows us that life insurance can do more than just protect your family; it can also be an invaluable tool for creating a strong financial strategy. Investing in life insurance can help you plan for your future and build a secure financial foundation for you and your loved ones.​
If you want to learn more about this contact me at :​
[email protected]​

The Top 10 Financial Mistakes People Make
A successful financial future rarely happens by accident. More often than not, the biggest financial setbacks come from a few common mistakes that can be avoided with proper planning.
Here are 10 of the most common financial mistakes I see:
1. Not Having a Financial Plan
Without a clear roadmap, it's difficult to make informed decisions about saving, investing, retirement, taxes, and estate planning.
2. Living Without a Budget
A budget isn't about restriction. It's about understanding where your money is going and ensuring it aligns with your goals.
3. Failing to Build an Emergency Fund
Unexpected expenses happen. Having readily available savings can prevent debt and reduce financial stress.
4. Carrying Too Much Debt
High-interest debt can quietly erode wealth and limit your ability to save and invest for the future.
5. Not Saving Consistently
Many people save what's left over at the end of the month instead of making savings a priority.
6. Delaying Investment Decisions
Time is one of the most powerful tools in investing. Waiting too long to invest can significantly impact long-term results.
7. Neglecting Retirement Planning
The earlier you start planning, the more flexibility and confidence you'll have when retirement arrives.
8. Being Underinsured
A serious illness, disability, or unexpected loss can have a major financial impact if proper protection isn't in place.
9. Letting Emotions Drive Financial Decisions
Fear and greed often cause investors to buy high, sell low, and make decisions that work against their long-term goals.
10. Not Seeking Professional Advice
Trying to navigate complex financial decisions alone can lead to missed opportunities and costly mistakes.
The good news? Every one of these mistakes can be addressed with a thoughtful plan and ongoing guidance.
As a Certified Financial Planner®, my role is to help individuals and families create a strategy that aligns with their goals, values, and future aspirations.
If you'd like a second opinion on your current financial situation, feel free to reach out for a complimentary review.
​

🔺While the vast majority (91 per cent) of Canadian workers say they’re saving for retirement, just 69 per cent are confident they’re saving enough, according to a survey by LIMRA.

A survey of over 1,500 retirees and employees aged 40 to 85 with at least $100,000 in household investable assets reveals:

Income Disparity in Pension Savings:
✓ Only 28% of those earning $150K participate in employer pensions.

Confidence Boost from Retirement Planning:
✓ 86% with a formal, written retirement plan feel 'very' or 'somewhat' confident about their savings.
✓ Only 58% without a plan express the same confidence.

►Takeaway:Making sure you have a financial plan and reviewing your progress is critical for financial confidence.

If you're unsure about your plan, reach out. I'm here to help.​
If you want to learn more about this contact me at :​
[email protected]​

Are you looking for strategic ways to save on taxes during retirement? Incorporating insurance into your financial plan can offer significant tax benefits.

Here’s how:

✓ Tax-Deferred Growth: Permanent life insurance policies, such as whole life or universal life, allow your cash value to grow on a tax-deferred basis.
You won't pay taxes on the growth of your investments within the policy until you withdraw the funds, potentially increasing your wealth over time.

✓ Tax-Free Loans and Withdrawals: Policy loans against the cash value of your life insurance can provide tax-free income in retirement
Withdrawals up to the cash value are generally tax-free, offering a tax-efficient way to access funds.

✓ Death Benefit: The death benefit is typically paid out tax-free to your beneficiaries, providing a financial legacy without the tax burden.
This can help offset probate and income taxes, ensuring more of your wealth is preserved for your heirs.

✓ Insurance as a Retirement Tool: For those who don't qualify for other tax-advantaged accounts, cash value life insurance can serve as an alternative, offering similar tax benefits.
Using insurance as part of your retirement strategy can provide peace of mind and financial security while optimizing your tax situation.

Ready to explore how insurance can give you tax advantages in retirement?

Let's connect and discuss your options!​

Are you nearing retirement? Discover key financial mistakes to avoid for a secure future!

✓ It’s not just about saving; it’s about making smart decisions to protect your nest egg.

✓ Avoid common pitfalls like underestimating healthcare costs, failing to diversify investments, and not updating your estate plan.

Have a paycheque AND a playcheque.

► Take control of your retirement today!
► Don’t let avoidable mistakes derail your plans; stay informed and proactive for lasting financial security.

✓ Let’s discuss strategies to avoid these mistakes and ensure a comfortable, worry-free retirement.​

Dreaming of a worry-free retirement? Begin with a solid plan!

✓ Retirement isn't just about leaving your job; it's a journey to financial freedom.

Craft a personalized retirement plan aligned with your goals. This should include tax strategies, cash flow, and an efficient estate plan.

It's never too early or too late to start planning your retirement.

Don't let uncertainty derail your retirement dreams.

Start building your financial freedom roadmap today! 🚀​
If you want to learn more about this contact me at :​
[email protected]​

'Retirement means no pressure, no stress, no heartache… unless you play golf.'⛳️​