It takes more than just retirement planning to preserve and enhance your wealth. It's also about maximizing and protecting it, and helping ensure you'll be able to pass it on to future generations. 

✓ Retirement Plan

✓ Mutual Funds

✓ Segregated Funds

✓ GICs

✓ Annuities

✓ RRIF & LIF

✓ TFSA

✓ Open Plans

Retirement Plan

Now that you are looking to retire, it is important to build a monthly budget based on your projected income.

Godfrey Wealth Management Inc. can help you devise a plan that will allow you to live within your means and protect your lifestyle for years to come.

Things to Consider

• When do you want to retire?
• Do you have a household budget? If so, what is your current total monthly budget?
• How much have you invested or saved over the years?

Mutual Funds*

A mutual fund is a type of investment fund. An investment fund is a collection of investments, such as stocks, bonds or other funds. Unlike most other types of investment funds, mutual funds are “open-ended,” which means as more people invest, the fund issues new units or shares. A mutual fund typically focuses on specific types of investments. For example, a fund may invest mainly in government bonds, stocks from large companies or stocks from certain countries. Some funds may invest in a mix of stocks and bonds, or other mutual funds.

Through Quadrus Investment Services Ltd., we have access to thousands of mutual funds, including the Quadrus Group of Funds - an exclusive mutual fund family that offers clients a multi-managed, multi-style approach by some of the world's leading investment managers.

* Disclaimer
Make your investment decisions wisely. Important information about mutual funds is found in the funds' simplified prospectus. You can obtain a copy of this from your investment representative. Please read this carefully before investing. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Unit values and investment returns will fluctuate.

Things to Consider

• How much and how often do you want to invest?
• What is your risk profile? Are you a high, medium or low risk person?
• Have you done any research on the type of Mutual Fund that interests you?

Segregated Funds

Segregated fund policies offer a long-term investment with death benefit and maturity guarantees. These guarantees are options within an insurance policy, additional benefits include assets bypassing the estate and potential probate fees, resulting in your assets passing directly to your named beneficiaries.

Things to Consider

• Who is/are your beneficiaries?
• What amount do you want to invest for them?
• What assets do you have that you intend to leave your beneficiaries?

GICs (Guaranteed Investment Certificate)

A GIC investment offers a guaranteed rate of return over a fixed period of time. GICs are a low risk profile product, as a result offering a lower return on investment than stocks, bonds, or mutual funds. Interest is determined based on duration of time invested and interest rates as dictated by the Bank of Canada at the time of purchase.

Things to Consider

• How much and how often do you want to contribute?
• How long of an investment period are you looking for?

RRIFs (Registered Retirement Income Funds) & LIF (Life Income Funds)

You have saved for your retirement and now you need an income. Godfrey Wealth Management Inc. provides the options you need for your retirement lifestyle. Since your RRSPs need to be closed out before your 72nd birthday, you may choose to move the funds to a RRIF or LIF. 

The RRIF pays out pre-determined minimum payment each year, and since there is no maximum, you can withdraw as much as you need annually. Withdrawals from a RRIF over the minimum amount are subject to withholding taxes imposed by Canada Revenue Agency (CRA).

LIF is used for transferring GRSP or other employer sponsored pension assets. These assets may have been held in an LRSP or LIRA before being transferred. Similar to the RRIF, the LIF pays out pre-determined minimum payment each year, and since there is no maximum, you can withdraw as much as you need annually. Withdrawals from a LIF over the minimum amount are subject to withholding taxes imposed by Canada Revenue Agency (CRA).

Things to Consider

• How much do you have invested in RRSPs?
• Do you have an Employer sponsored savings Fund?
• How much monthly income do you need above your available pensions?

TFSA (Tax Free Savings Account) 

The TFSA is a flexible and registered investment account which allows you to earn investment income (interest, dividends, capital gains, etc) tax-free.

Unused TFSA contribution room is carried forward and accumulates year over year.

Things to Consider

• What are your saving goals?
• How much money do you have to invest in your monthly budget?
• How much have you already contributed to a TFSA?

Open Plans

Specialized Investment Solutions 
All investors have unique needs, but some who have already accumulated wealth and are searching for ways to preserve it, for instance, might require specialization solutions to suit their situation.

Guaranteed Interest Options and Payout Annuities 
To help you reach your financial security goals, we offer a wide range of products and services, including secure options such as guaranteed interest options and payout annuities. Guaranteed interest options protect your principal. Payout annuities guarantee your income.

Registered Education Savings Plans (RESPs)

Consider saving for your child or grandchild's education with an RESP. When you contribute to this type of registered plan, the federal government provides a grant to help you reach your goals faster.