Milica Ivaz - Sensible Financial Solutions

Take everything with a grain of salt!

Retirement is about more than financial security – it's about being there for what truly matters.

For women, it's about having the freedom to support their families, witness grandchildren's milestones, and cherish every moment.

By prioritizing your needs and wants, you can create a retirement that aligns with your deepest desires.

Craft a disciplined approach that allows you to nurture your relationships and maintain the lifestyle you value.

Embrace the joys of retirement without sacrificing what's truly important.

Are you tired of seeing a significant chunk of your returns vanish into taxes?

Take control of your financial future with effective tax planning strategies. Here’s a snapshot of how that looks:

- Start by utilizing your RRSPs to maximize tax savings.
- Then, explore the power of tax-free savings accounts, where your investments can grow tax-free and withdrawals are never taxed.
- Regarding non-registered accounts, focus on dividend-paying stocks and growth-oriented investments to minimize taxable income.
- Lastly, consider the often-overlooked role of insurance in tax and estate planning.

Use smart tax planning techniques to reduce your tax burden!

It can be something tiny or something massive… What’s one thing you can celebrate?

“You are free to choose, but you are not free from the consequence of your choice.” — Unknown

Preparing for retirement?

It's essential to understand how sequence of returns can impact your financial stability.

During accumulation years, market downturns can be a bonus as you purchase investments at a lower price.

However, during withdrawal mode, they can affect your income.

Protect yourself by having a cash reserve to cover your essential needs for the first three years of retirement.

By safeguarding your funds, you can confidently weather market fluctuations and secure a longer lifespan for your retirement savings.

Plan strategically for a financially resilient retirement!

Don’t give up! Keep going!

Don’t look at the finish line… Look at what they’ve went through to get there!

Retirement is an exciting chapter for couples, but it requires open communication and shared vision.

Take the time to have a conversation and compare your retirement goals, even if you've been together for years.

Map out your aspirations, individually and as a couple, and find activities that bring you joy and fulfillment.

Whether it's golfing, hiking, or connecting with the community, finding what's important to you will pave the way for a successful and enjoyable retirement.

Together, you can create a strong foundation for your future!

Getting my money's worth! This is a 2-scoop ice cream from the Fickle Fig Express.

Share in the comments. Have any tips on how to support someone else? Share them below! Keep them kind! ❤️

🌟 Mapping Your Retirement: A Road Trip to Financial Freedom! 🗺️💫

Hey Friends! Retirement is like embarking on an exciting road trip, where every detail matters.

Let’s get beyond investments and risk profiles, to envision your retirement and plan accordingly.

As we go through the hustle and bustle of daily life, it's easy to forget to plan for our future. But one of the most rewarding things we can do is map out our retirement. 🗺️✨

Here are a few steps to help you get started on your journey to financial freedom:

Set Clear Goals 🎯

What does your dream retirement look like? Traveling the world, starting a new hobby, or just enjoying more time with family? Define what you want to achieve.
Assess Your Current Financial Situation 💵

Take stock of your savings, investments, and debts. Knowing where you stand financially is crucial for planning ahead.
Create a Retirement Budget 📝

Estimate your future expenses and create a budget. Consider healthcare costs, living expenses, and leisure activities.
Invest Wisely 📈

Make informed decisions about your investments. Diversify your portfolio to balance risk and growth.
Plan for Healthcare 🏥

Healthcare can be a significant expense in retirement. Look into options like Medicare and long-term care insurance.
Seek Professional Advice 👨‍💼👩‍💼

Consult with a financial advisor to get personalized advice and ensure you're on the right track.
Stay Flexible and Adapt 🔄

Life is full of surprises. Be ready to adjust your plans as needed to stay on course.
Remember, it's never too early (or too late) to start planning for your retirement. Taking these steps now can help you enjoy a worry-free and fulfilling retirement. 🏖️💖

Let's embark on this journey together! Share your retirement dreams and tips in the comments below. 🌟👇

When you own a business, it can seem like double the work just to take some time off! 🤣 My plan may involve long weekends. What about you? Are you taking time off? What’s your strategy?

Did you know that over half of Canadians don’t have a will? And that number jumps to 70% for younger Canadians (aged 18-34) and 66% for those aged 35-54. This is even more surprising given that almost 60% of Canadians think they have a good level of estate planning in place.

Many Canadians who do have a will are only scratching the surface of truly comprehensive estate planning. So, what is estate planning, exactly?

Read more: https://sensiblefinancialsolutions.ca/f/the-essential-guide-to-estate-planning

**🌸 Women's Financial Challenges & Retirement Planning 🌸**

Hey everyone! 🌟

Let's talk about an important issue that often doesn't get the attention it deserves – the unique financial challenges women face, especially when it comes to retirement planning. 👩‍💼💰

🔹 **Gender Pay Gap**: Despite progress, women still earn less than men on average. This wage gap can significantly impact the ability to save for retirement over a lifetime. 💵

🔹 **Career Interruptions**: Many women take time off work for caregiving, whether it’s for children, aging parents, or other family members. These breaks can lead to lost income, lower retirement savings, and reduced Social Security benefits. 🍼👵

🔹 **Longer Life Expectancy**: Women generally live longer than men, meaning they need more savings to cover additional years of living expenses and healthcare costs. 📈

🔹 **Investment Confidence**: Studies show women are often less confident about investing, which can lead to more conservative financial choices that might not yield the best returns in the long run. 📉

🔹 **Financial Literacy**: There’s a significant need for better financial education tailored to women's specific needs and circumstances. Knowledge is power, and understanding personal finance can lead to better decision-making. 📚

💡 **What Can We Do?**

1. **Educate Ourselves**: Take advantage of financial literacy resources. There are many books, courses, and online resources designed to help women improve their financial knowledge.
2. **Seek Professional Advice**: A certified financial planer can help create a retirement plan tailored to individual circumstances and goals.
3. **Encourage Open Conversations**: Let's talk more openly about money, salaries, and financial goals. Breaking the taboo can lead to more informed and empowered decisions.
4. **Support Policies for Equal Pay**: Advocate for policies and practices that promote gender pay equity and support for caregivers.

By addressing these challenges head-on, we can help ensure a more secure and prosperous future for all women. 🌈✨

What are your thoughts? Have you faced any of these challenges? How are you planning for your financial future? Let's discuss in the comments below! 👇💬

Throughout history, it's been the visionaries, the dreamers, and the ‘crazy' ones who have made a lasting impact on our world. They refused to settle for what they saw around them.

Do you have big dreams and grand ideas? You’re my kind of people then!

Happy 1st day of summer! ☀️☀️☀️

Many people get confused between the terms living will versus will. The hint is in the name; while a regular will outlines your wishes for after you die, a living will details your wishes for while you’re still alive (but no longer able to express those wishes). Another key difference is that, while your regular will is certain to come into play at some point, you may never need your living will.

Read More: https://bit.ly/3XrgOnN

DM me if you have questions regarding

Please tell me below! I need a recommendation for your current favourite:

A. Weekend yoga class
B. Brunch spot
C. Show

Now that my plans are set (thank you for the help!), do you have any big plans for the weekend?

Looking to achieve your financial goals?

It's crucial to work with a financial planner who goes beyond surface-level investment planning.

A comprehensive approach delves into your net worth, debts, mortgages, charitable giving, and all your personal aspirations.

By analyzing your real information, you can pave the way to a robust financial plan tailored to your unique needs.

Don't settle for less—choose a financial planner who understands the big picture! 🌟

Get the Most from the Canada & Quebec Pension Plans by Delaying Benefits

Choosing to delay CPP/QPP from age 65 to age 70 would result in a 49.2% increase in the annual real (inflation-adjusted)benefit payout value rather than 42%, while taking CPP/QPP at age 60 would reduce benefits by 39.1% rather than 36%.

When is the best time to take CPP and OAS? | Investment Executive Advisors need to consider several aspects, such as life expectancy and whether the client will spend or invest CPP and OAS

When it comes to Estate Planning + Tax Strategy, the top question I get is about probate.
British Columbia has a set fee structure: For assets under $25k there's no charge at all; anything between that and 50K is 0.6% of the estate's value. Anything above $50,000 is charged 1.4% of the estates value. That's the "little tax".
But there's a much larger tax that needs to be taken into consideration with your estate planning or the value of what you are trying to accomplish with your estate plan could end up looking very different than you hoped.
Is your legacy protected from the little AND the big tax?

As high-achieving women, we often choose between staying within our comfort zones and summoning the courage to pursue our goals. Sometimes, it would be great to give in a comfortable life after all this hard work!

I love this quote though because it’s a powerful reminder that true success for women lies in the courageous choices made along the way.

Whether in career, personal development, or financial planning, choosing courage over comfort propels us toward our aspirations.

I chose courage! How about you?

Transparency breeds trust.

With fee-for-service financial planning, you know exactly what you're paying for— just a clear, honest partnership dedicated to your financial success.

Learn more today: https://sensiblefinancialsolutions.ca/services

In entrepreneurship, the support of mentors, investors, or even a supportive community can be the catalyst for success.

Building strong networks and relationships is not only vital in business but also in the financial planning process.

Collaborative efforts often contribute significantly to the success of entrepreneurial ventures and financial endeavors.

What's your top recommendation for a binge-worthy series or movie? 🍿🎬

Why settle for one-size-fits-all financial advice? As an independent advisor, I customize strategies based on YOUR aspirations and challenges. Your financial journey is unique, and so is the plan to get you there.

Learn more today: https://sensiblefinancialsolutions.ca/services

It's not only about overcoming external challenges but also having the strength to assert oneself within our professional relationships.

This courage is instrumental in breaking through barriers and achieving success in any field.

What's your favourite thing about the current season? Share the seasonal joy!