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Tag: Retirement Savings Plan

3 Tips For Calculating How Much Money You Need To Retire

One of the most common questions we get from successful business owners, entrepreneurs, and incorporated professionals is how much money do they need to retire. It’s a pressing question in the financial planning industry, but oftentimes it’s not the right question to ask.  Most successful business owners have the goal of achieving financial freedom which is different from retirement. If you love what you’re doing, it’s unlikely you are going to want to retire. If you hate what you’re doing, then…

Calculating Money Needed To Retire | Ocean 6 Wealth Advisory

Why You Should Avoid A Retirement Savings Plan

One of the things we often see with incorporated professionals and entrepreneurs is that they’re utilizing their RSP (Retirement Savings Plan) as their number one vehicle for retirement savings. For most entrepreneurs, this isn’t the most tax-efficient way to save for retirement. With an RSP, what you’re essentially doing is going into business with the government, and you have no idea how much of your business they are going to take on the back end. An RSP is a vehicle…

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