- Windsor Office (519) 254-7521
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- Tilbury Office (519) 607-0379
ClearPath Wealth Group
It’s important to note that while there are many types of investment vehicles, and they are all effective in their own ways, IT IS FAR MORE IMPORTANT to have an overall financial strategy. That is where our planning expertise comes into play. Utilizing our state of the art planning tools we can help you create the best outcome while effectively reducing taxation and minimizing overall risk.
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A large part of our clients’ portfolios are typically in registered products such as RSPs. We offer a wide range of investment products to be utilized as investment options inside an RSP. While many advisors are efficient at growing investments in vehicles like an RSP, few are proficient or have the expertise to structure your RSPs in a manner that will generate sustainable retirement income for your lifetime from this RSP capital. That is where we shine. Using our Outcome Based Investing (OBI) strategy, we are able to effectively reduce your market risk exposure (this is called Sequence of Returns risk) while simultaneously generating meaningful overall growth rates to create a lifetime retirement income stream. Feel free to contact us for more details.
For information on how RSPs work, see the links below:
What is an RSP? https://youtu.be/IBe7Rw0Fe3A
Why contribute to an RSP? https://youtu.be/0QF6lgWR14c
A RRIF is simply a payout version of your RSP. The investment choices within a RRIF are wide. As mentioned in the RSP description, while many advisors are efficient at growing investments in vehicles like an RSP, few are proficient or have the expertise to structure your RRIF in a manner that will generate sustainable retirement income for your lifetime from this former RSP capital. That is where we shine. Using our Outcome Based Investing (OBI) strategy, we are able to effectively reduce your market risk exposure (this is called Sequence of Returns risk) while simultaneously generating meaningful overall growth rates to create a lifetime retirement income stream.
Taxation is one of the largest factors to consider during your pre-retirement and post-retirement years. Following the traditional RRIF factors for withdrawals does NOT create the best outcome for most clients. In fact it results in excess taxes, excessive income when you DON’T need it or want it, and massive taxation in your estate. All of this can be mitigated by implementing our SMART Withdrawal Strategy. Feel free to contact us for more details.
For information on a typical RRIF strategy, see the link below:
Many of our clients’ portfolios include funds in LIRAs. This is really an RSP with the main difference being that the funds in them came from pension plans as opposed to individual contributions. We offer a wide range of investment products to be utilized as investment options inside an LIRA. While many advisors are efficient at growing investments in vehicles like an RSP or a LIRA, few are proficient or have the expertise to structure your LIRA in a manner that will generate sustainable retirement income for your lifetime from this capital. That is where we shine. Using our Outcome Based Investing (OBI) strategy, we are able to effectively reduce your market risk exposure (this is called Sequence of Returns risk) while simultaneously generating meaningful overall growth rates to create a lifetime retirement income stream. Feel free to contact us for more details.
When you wish to begin drawing down on your LIRA funds we must convert it to a LIF (Lifetime Income Fund) and we are faced with both forced minimum and legislated maximum withdrawal amounts each year. One of the strategies we employ to sidestep this hurdle is an UNLOCKING these locked-in funds.
For more information on this unlocking strategy: Unlocking locked-in funds | Manulife Investment Management (manulifeim.com)
If you have a Defined Benefit pension plan at work, when you retire you may wish to consider taking a commuted value in lieu of the pension stream. This puts YOU in the driver’s seat and creates many opportunities that a pension income cannot offer. This involves transferring the pension assets into a combination of RSP, LIRA and OPEN accounts. Please feel free to contact us for a more detailed analysis of your situation.
Please refer to the link for an overview: The pension decision: To commute or not to commute? | Manulife Investment Management (manulifeim.com)
A tax free savings account is actually a misnomer. Many people assume that the only investment choice is actually a savings account. In reality the investment choices within a TFSA are wide and mirror those in an RSP.
These are great supplemental savings vehicles that can be utilized to enhance your overall financial strategy. Feel free to contact us for more details.
For information on how TFSAs work, see the link below:
What is a TFSA? https://youtu.be/dIx-F3KszXc
An RESP is a great savings tool to help save for your children’s education. As well, Government grants help to accelerate the savings. They can be set up as either individual plans for each child or as a family plan for all of your children. The investment choices within an RESP are wide and mirror those in an RSP or a TFSA. Feel free to contact us for more details.
For information on how RESPs work, see the link below:
What is an RESP? https://youtu.be/AuhAjdM9LbE
These are simply non-registered investment accounts. The investment choices within an RESP are wide and mirror those in an RSP or a TFSA.
Investment growth in an OPEN account is subject to annual taxation and also has a capital gains liability that grows over the years as the value of your investment increases. For this reason, we need to utilize strategies to suppress taxation on these types of accounts. For that reason we recommend utilizing our Tax SMART Investing Strategy. Feel free to contact us for details.
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