Retirement Planning

As you come up to retirement or even if you are already retired, one of your concerns is always:

“Will I have enough money?”

Our team has developed a system to help you examine the factors that affect your retirement years and design a year-by-year plan to provide you with peace of mind.

Portfolio Management

During retirement, the main objective of investing turns from saving to producing income. Our team can help you to structure your investment portfolio to maximize not only your income, but more importantly your after-tax income. We help you decide if funds, pools or discretionary managed accounts may be better suited to your net worth, risk tolerance and other factors.

Insurance Planning

As part of an overall risk management review, the Taylor Team will identify the various risks that may affect your goals. We will then work with third-party insurance specialists to identify affordable solutions for your specific needs. Potential solutions include:

Whole life
Also known as permanent insurance, whole life insurance provides lifelong protection at guaranteed prices for life. Some plans let you stop making premiums after a certain number of years of payments, while continuing to provide protection for life.

Universal life
Universal life insurance combines two benefits. It provides permanent insurance protection, similar to whole life, plus an investment component to grow your savings tax-deferred.

Term life
In contrast to whole or universal life, term life provides temporary protection at lowest cost for specific needs. It may be suitable for young families seeking affordable protection or people with a mortgage or other debt.

Disability
Disability insurance is intended to replace a portion of your income, up to certain dollar limits, if you become ill and are no longer able to work. As there are limitations to disability insurance provided through an employer, it’s often a good idea to get individual coverage to ensure you are protected throughout your working life. As well, only with an individual policy can higher-income earners obtain adequate coverage.

Critical illness
Critical illness, on the other hand, provides an up-front, cash payment if you are diagnosed with a serious illness covered under the policy and survive 30 days. The payment can be used for any purpose, whether to pay indirect expenses not covered under health care plans, such as nursing care, child care or a home retrofit, or even a vacation.

Mortgage
Mortgage insurance is used to pay off your mortgage balance and protect your family home in the case of death or critical illness. For couples, the policy can be set up to pay out on the first death, easing the burden on the surviving spouse.

Long Term Care insurance
At some point in your life, you or your spouse may need some form of long-term care. Long-term care – whether in your home or at a private or public facility – is costly and could potentially wipe out your retirement savings in a short time. Through long-term care insurance, you can protect against the risk of outliving your savings and leaving nothing for heirs.

Estate and Tax Planning

After a lifetime of hard work and sacrifice, you want to make sure that your assets go to the people you choose. Our team can help you formulate an Estate Plan to ensure you minimize taxation of your assets when you leave them to the next generation, and minimize aggravation as well.

Charitable giving
During retirement we often come to the realization that life has been pretty decent and we begin to consider others who may be less fortunate. Our team can help you decide the most effective way to distribute portions of your income and your assets to charities that have a place in your heart.

Cash and Credit Management