Back to school

Wealth management edition

Written by Nitin Manohar
September 11, 2017

A few days ago, parents in Kanata and across the Ottawa region sent their children back to school. As a father of two school-aged children, I understand that it’s a big week for parents. Summer break may have felt long for some families, and flown by for others – perhaps it depended on the week! Whether you shed a few tears or raised your coffee cup triumphantly as your kids walked back into the classroom, we wish your family a happy and successful school year.

But now, back to you – how does ‘back to school’ impact your life? If you’re a business owner, a medical professional or busy executive, it’s the perfect time of year to assess your finances and make sure everything is in order. The final quarter of the year is approaching, and in addition to the professional responsibilities in your life, you’ll soon be busy with holidays and other year-end commitments. September is the ideal time to meet with your wealth advisor, discuss your needs and goals, and ensure that you’re on track to meet them. Here are a few examples:

Investments

It’s important to keep your wealth advisor up-to-date on your needs and goals, as this affects your risk tolerance and overall financial situation. If you haven’t reviewed your investments lately, now’s the time. While we monitor all portfolios closely, regular communication ensures that they remain deeply personalized, and reflect your financial plan and wealth management strategy.

Retirement

Have your retirement plans changed? Do you know when you’ll be able to retire, and what your income will be after your working years? Does the sale or succession of a business or medical practice factor in? Or are you feeling unsure of what the future holds? By meeting with your wealth advisor on a regular basis, you’ll have the answer to these questions and more, plus the guidance you need to achieve your retirement goals.

Tax preparation

You’ve been keeping receipts, working with a bookkeeper and/or accountant and think you’re organized…but is your business set up to be most tax-efficient? Regular reviews with your advisor and tax advisor will ensure that you keep the most money in your bank account come tax season. If we aren’t already working together, ask me for a confidential, complimentary review of your corporate finances.

Education savings plans

If you’ve got children, you’re probably aware of how much a post-secondary university education can cost these days. Let’s make sure you’re on track to through the ideal use of saving and investments. I’m passionate about helping clients make the most of investment opportunities to pay for university or college, and this is something I’m planning for in my own family – ask me what strategies are right for you!

Estate and legacy planning

It’s easy to forget about things like estate planning when you’re focused on your business and your family, but it’s important to review these elements of your financial plan on a regular basis. I can help you identify your goals and achieve them with careful, personalized financial planning.

Are there other issues on your mind? Let me know – my team of specialists and I would be happy to review any elements of your personal or professional financial plan. Comprehensive financial care is key to achieving your goals, so please feel free to connect me with your lawyer, accountant or other professionals in order to provide detailed recommendations on a more turnkey level. My team looks forward to taking your call!