Get a Retirement Plan that Works
The problem many of our clients face is they have accumulated wealth and want to know how to slow down from work, maintain their lifestyle, and not run out of money.
You need to work with an advisor who understands your situation and has a process that allows you to reach your goals during retirement.
At SWAN we specialize in helping clients who are 5-10 years from retirement or in retirement. We work with you to create a plan and keep you on track so you feel confident that you and your family are taken care of during this next stage.
We are licensed in the USA and Canada and have gained substantial experience helping clients who are moving across the border. There are additional complexities to a cross-border financial move that we know how to manage and optimize.
Retirement Planning with a Fiduciary
Before you move forward, it is important to determine if your advisor is a Certified Financial Planner and a Portfolio Manager.
In Canada, only Portfolio Managers are fiduciaries. This means they are the only ones that have a legal obligation to put a client’s needs first. In addition, as a portfolio manager we are not limited to just investing in mutual funds but can choose holdings tailored to your individual needs.
Essential Retirement Planning Considerations
Our work makes financial planning for retirees easy even if your assets are held on both sides of the Canadian and US border.
Here are some essential considerations:
Time Horizon
You will need to consider your time horizon. How long do you think you will need your savings to last?
Goals
You should know your goals. Are you downsizing or moving to a more expensive area? Do you plan on using your home to fund your retirement? The after-tax rate of return you need is derived from your cash flow needs. Markets over time can produce sizable returns from 5 to 10% per annum but what return do you need to meet your goals?
Savings and Investments
Savings and investment options are not all created equal or taxed equally. For example, dividends from Canadian companies give investors a tax credit which can erase some, and potentially all, of taxes owed. Also, some savings vehicles are fully guaranteed while others are not.
Canadian Pension Plan and Old Age Security
The Canada Pension Plan (CPP), Old Age Security (OAS) and any foreign entitlements help supplement income and reduce the need to draw from savings.
Insurance
Insurance can defer or eliminate tax and protect your loved ones from hardship. Corporately held policies create special tax treatment that is efficient and can be drawn upon at any time.
RRSPs and RRIFs
Optimize your RRSP and RRIF to make the most of the investments held. Some holdings are tax efficient in the RRSP while others are more beneficial in other plans.
Power of Attorney and Your Will
Protect yourself by updating your will, power of attorney and having an emergency fund amounting to at least three months expenses. We work closely with lawyers and accountants to ensure a proper transition of our client’s final wishes.
At SWAN Wealth Management we help in the following ways:
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Manage your IRA and retirement accounts from Canada or the US
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Offer a pre-immigration consultation from a tax perspective before you move
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Guidance on retirement benefits such as CPP, social security and Medicare
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Transfer your investments from the US to Canada keeping them in a tax deferred account
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As a portfolio manager we are not limited to just investing in mutual funds but can choose holdings tailored to your individual needs
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Hold investments in US and/or Canadian currency on both sides of the border
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Minimize your tax burden by creating a tailored financial plan
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Manage your investments over the long-term so you can retire happy
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Provide access and management to your investments no matter on which side of the border you live
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Understand the tax implications of various investment strategies
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Create a financial plan that serves you in the short- and long-term
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Act in accordance with our fiduciary duties to ensure every aspect of your financial plan is in your best interest
To get started simplifying your cross-border finances and investments, schedule a call below.
Ready to Simplify Your Cross-Border Finances?
At SWAN Wealth Management we know that you want to be free to enjoy your life in Canada.
In order to do that you need a cross-border financial plan that’s tailored to your needs. Your US advisor can’t help you move or manage your investments in Canada, and you might be worried that you’re going to miss something during this transition.
We believe that moving your assets to Canada should be simple and easy. We understand how complex this process can appear — especially since it’s difficult to find clear information online.
That’s why we specialize in helping cross-border clients like yourself.
With over 25 years of experience as Certified Financial Planners and Portfolio Managers, we ensure your cross-border financial plan fits your needs and protects your assets.
Here’s how the process works:
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Schedule a 15-minute introductory call.
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Meet with a Financial Advisor.
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We create a cross-border plan.
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Together, we start the process.
To get started, schedule a 15-minute introductory call.
In the meantime, here’s our Cross-Border Moving Checklist, so you’ll be able to stop worrying about whether you’re missing something and instead relax and enjoy your next adventure.
Raymond James (USA) Ltd. All rights reserved. Raymond James (USA) Ltd. (RJLU) advisors may only conduct business with residents of the states and/or jurisdictions for which they are properly registered. Therefore, a response to a request for information may be delayed. Please note that not all of the investments and services mentioned are available in every state. Investors outside of the United States are subject to securities and tax regulations within their applicable jurisdictions that are not addressed on this site. Contact your local Raymond James office for information and availability. This website may provide links to other Internet sites for the convenience of users. RJLU is not responsible for the availability or content of these external sites, nor does RJLU endorse, warrant or guarantee the products, services or information described or offered at these other Internet sites. Users cannot assume that the external sites will abide by the same Privacy Policy that RJLU adheres to. Investing in foreign securities involves risks, such as currency fluctuation, political risk, economic changes, and market risks.
