Retirement Planning
Downsizing Or Selling For Retirement
Baby boomers represent approximately 25% of Canada’s population.
A growing number of our new clients are retirees exploring options to “cash out” of their home to help bolster their savings for retirement and build a legacy for their loved ones.
Downsizing for retirement takes planning, hard work and time. Contact us if you’d like to complete a comprehensive tax-efficient analysis to determine if downsizing or selling your home makes sense for you.
Increased Cash Flow
Selling your home will likely result in a windfall of cash. This can boost your savings and grow your retirement nest egg. It’s important to implement a tax-efficient investment strategy to ensure the government doesn’t take their unfair share of your hard earned money!
Cheaper Mortgage
If your current home isn’t paid off, a new home with a lower monthly mortgage payment can give your budget room to breathe. The money you save each month can pay for a yearly vacation or finance a grandchild’s future education.
Less Cleaning & Maintenance
Canadians aged 55 and older spend roughly $10 billion on home renovations each year — 47 percent of the national total. A newer home will likely need fewer repairs and have lower upkeep costs than an older home. And you probably won’t spend as much money hiring help to take care of the property.
Lower Utility Bills
Smaller spaces and fewer rooms mean lower utility costs. If you’re moving to a home with new windows or energy efficient appliances, you may save even more.
But before you make a move, get a handle on your finances. Hidden costs and poor planning can eat up potential savings if you’re not careful.
Book A Call
Speak to an Expert in Our Team
In just 15 mins we can understand more about your goals and give you some ideas that could not only help grow your net worth but also save you thousands of dollars in tax. Book a call now!
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Testimonials
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because you felt it was secure and convenient."
"Working with a Preferred Wealth partner they removed all uncertainty I had about my retirement. We developed a strategy to align with my goals and my portfolio was customized to my needs. They didn't try to pressure me or try to sell me anything."
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Insurance In Detail
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Term Insurance
Term life insurance is the most affordable kind of life insurance; a large death benefit can be acquired at relatively little cost.
Whole Life Insurance
Whole life insurance is permanent life insurance that offers both guarantees and cash values
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Universal Life Insurance has an investment component to it that grows on a tax sheltered basis.
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Office: Toronto, Ontario
Email:info@preferredwealth.ca
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