Protect Your Income. Grow Your Wealth. Financial Advisor in Toronto
Toronto financial advisor to help protect your income, grow your investments and create a plan for sustainable retirement income.
Perfect Planning Is Better Than Perfect Financial Products
Financial Advice In A Nutshell
Protect Your Income. Grow Your Income. Replace Your Income.
Financial advice comes down to your income. Protecting it against a disability or death before retirement. Growing your income during your working years with a good investment strategy so as to replace your income or salary when you retire. Lastly, covering your basic expenses with some form of guaranteed lifetime income during retirement.
As a financial advisor in Toronto most of what we do is help you organize what you're currently doing so that you feel secure and confident today and in the future. We will never undo any good work you've done up to this point. There are many financial products, none of them perfect. Our job is to help organize it for you so that your income matches whatever life situation you're in.
Where Is Your Money Invested?
Why Start With Protecting Your Income?
Your income is the basis of all you do and how you fund your lifestyle. How long can you afford to go without a paycheque or your income? If you can't go longer than 3 months then you need to insure your income. A disability such as a critical illness or accident is the number one reason your retirement plans will be derailed. Protect your income. Protect your wealth!
Working With A Financial Advisor
What You Can Expect From Blue Alpha Wealth
Working with a financial advisor mainly comes down to fit and personality. Most of what we do is help you organize what you're currently doing. We will never undo any good work you've done up to this point nor advise you in a way that doesn't fit with your personality.
We'll Provide You With Actionable Bite-Size Advice
Even if you decide not to work with us we will leave you with some actionable advice based on our conversation. We won't leave you hanging.
One-Page Financial Plan For Your Prioritized Need
Financial planning and working with a financial advisor can be overwhelming. Breaking things down into priorities helps alleviate this anxiety.
Value of Blue Alpha Wealth As Your Financial Advisor
Financial advice is only as good as the person you ask.
Investment Accounts That Fit Your Objectives.
Types of Investment Accounts
Here are some of the main types of account we provide guidance for clients.
An investing account that allows you to grow your money faster by avoiding taxes today and paying later. Yearly contribution limits based on income. Most suitable if you make more than $50,000 income a year and looking to reduce taxes.
A non-RRSP account doesn't get the same tax benefits as an RRSP or TFSA but has unlimited contribution limits. You pay taxes yearly on your investment gains. Can be held personally or as a joint account. Best used when you maximize RRSP or TFSA.
Should be called "Tax Free Investing Account". No tax deferral like RRSP but you don't pay taxes on your investment growth. Invest anything e.g. stocks, mutual funds, ETFs. Usually confused as a bank savings account. $6,000 maximum contribution allowed yearly.
In the year you turn 71 you are required to close out your RRSP and open a Registered Retirement Income Fund. This is to start taking mandatory withdrawal minimums. It is optional to convert to a RRIF from an RRSP. You can simply liquidate your RRSP.
Use for saving for children's education. You get a match (lifetime maximum $7,500) from the government to help you grow your savings faster. Maximum contribution is $50,000 over the life of the plan. Parents/grandparents can contribute to the plan.
A Locked In Retirement Account is meant to be used to park or "lock-in" pension money from former employers while you're still working. It's a simple transfer or "rollover" to your personal account. Restrictions apply such as not being able to withdraw before age 55.
Your Investment Options
Independent Financial Advisor Providing You Choices.
When you invest with Blue Alpha Wealth it starts with your financial objective. Then your personal preference, whether you're hands on or hands off, and how much communication you require. All that will determine the fee structure and types of investments we recommend to you. Ultimately, your main objective is to see enough progress with your investments to fund your financial plan.
How To Ensure A Worry-Free Retirement
Make sure to cover basic expenses in your retirement plan
When working with a retirement planner one of the most important things to address is how you will comfortably cover the expenses you need to live out your retirement. Most people focus on accumulation in pre-retirement years but most retirement planners don't focus on the equally important distribution phase once you stop working. The best way is to use an annuity whereby you convert a portion of your nest-egg to meet this need. The image shows what to consider and how to think about covering all aspects of your retirement plan.
By way of example, assume you determine that you require $70,000 in annual income to support your whole retirement. The example below gives you a high-level guide on how to calculate what you will need to cover in terms of shortfall so you don't run out of money.
Let's Get Started!
Hands-off investment management. Access to discretionary portfolio management. By discretionary, we make investment decisions on your behalf and you get regular information on your performance. We start by discussing the investing philosophy and get your agreement. This fee-based structure gives you direct access with a Blue Alpha Wealth affiliated portfolio manager one on one. Get advice on individual securities, private equity and real estate investments. Ideal for $500,000+ portfolios.
investment fund Portfolio
Hands-on investment management. Active portfolio management where we make investment decisions together in partnership with you. Before we make any changes or investment decisions we advise and consult you and you choose if you want to go ahead (opposite to discretionary). We take an active role in picking appropriate investments to apply to your portfolio and speak more regularly. We use various investment companies for this solution. Ideal for portfolios less than $500,000.
Welcome to Blue Alpha Wealth
Hi, I'm Carter, your independent financial advisor and partner in helping you gain control over your investments and protecting your ability to earn an income. You'll find I'm a good listener and willing to meet you where you are. I understand the anxiety that comes with financial planning and don't promise a silver bullet but promise to help make an improvement on your current situation. Is that worth your while?
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A Financial Advisor So You Retire With Confidence
Working with a financial planner like Blue Alpha Wealth is about empowering and enabling you to make smarter decisions about your future plans and investments as well as growing and protecting your nest-egg over time. Our priority as a financial advisor is to help you gain security and control over your finances. Working with us is also designed to reduce your anxiety and the amount of time you spend trying to figure out what, where and how given the information overload in financial news and commentary. We equip you with the knowledge and tools to feel confident that you will retire on your own terms. This is why working with a financial advisor is always a good bet!