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Respon Wealth Management Corp.

The four cornerstones of financial security planning

Whether your goals are long-term (such as retirement) or more immediate (such as starting a business or saving for a child’s education), we can help you build a financial strategy tailored to your needs and those of your family. In developing your financial security plan, we’ll consider the four cornerstones of financial security planning:

  1. Financial security at death
    • When you die, how can you help safeguard your estate for your family?
    • How much income will your family need?
    • How will inflation affect this income?
  2. Retirement
    • Would you like to retire early or reduce the time you spend working?
    • When you retire, what type of lifestyle do you envision?
    • How much income will you need to retire comfortably?
    • How will inflation affect this income?
  3. Liquidity
    • Do you have access to cash or liquid assets (assets that can be easily converted to cash)?
  4. Disability and critical illness
    • How would a critical illness or disability affect your income?
    • Would a reduced income affect your retirement savings and would this reduction affect your lifestyle?
    • How much disability or critical illness insurance coverage is enough?
    • If you became critically ill or disabled and took time off work, how would inflation affect your income?
    • If you became critically ill or disabled, would provisions in your group plan allow you to continue saving for your retirement?