FP Answers: What's the difference between a financial plan and an investment plan?

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Don has $800,000 in investments. He wants to set lifestyle goals, but also have a road map to the right investment strategy for the long term

All too often, an investment manager is hiding in advisory clothing. More specifically, clients have the illusion they are getting a complete plan when they are simply buying a manager’s investments. The confusion this creates leads to great questions such as the one you have asked and fuels a debate about the level of fees charged.

Estate planning: having proper wills and power of attorney documents that accurately reflect your wishes, and reviewing asset ownership structures and beneficiary designations to ensure they are not conflicting with these documents; Retirement plan: planning how much to save for retirement and spend in retirement, and utilizing the optimal vehicles to reach the targets you set;

Tax plan: every Canadian has the right to organize their affairs to pay the lowest amount of tax possible while complying with the country’s tax code.Article content

 

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