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  • Tag: Net Worth

    Passing wealth on now, later, ever?

    Today’s Globe & Mail High Net Worth section featured Newport Private Wealth in a piece by journalist Paul Brent entitled Don’t let your money spoil the kids.

    It deals with the issues, desires, opportunities and complications of wealthy baby boomers assisting their offspring financially — a subject that’s near and dear to our hearts and on which several of our colleagues have blogged. You can also read David Lloyd’s post on Catalyst Funding and Kevin Dean’s Engaging the Next Generation.

    For high net worth families concerned about preparing the next generation for responsible wealth management, remember that we offer an educational program for young adults, NextWave. Contact Caitlin Lloyd or Kevin Dean to learn more.

    Special summertime offer

    CTA Buttons BW 150x150 Special summertime offer This summer we’re extending a special offer to high net worth individuals who want to get greater clarity on their retirement plans.  We call it our Retirement Crash Test.

    We do a lot of retirement planning for clients in our wealth management practice and we know it’s something people worry about. And many aren’t prepared for:  According to a research report released this past April by McKinsey & Co., 41% of high income Canadians between 55 – 64 years of age will be challenged to maintain their income during retirement.  Either because they haven’t saved enough or investment returns have been sub-par on the savings they have accumulated.

    We’ve developed proprietary financial modeling that will simulate your retirement under a variety of scenarios using inputs you provide. Our clients have found it gives them tremendous peace of mind.  We thought to extend the offer to other high net worth individuals who are at the same life stage i.e. less than a decade from retirement.  It’s a great opportunity to take charge of your financial future and ‘kick the tires’ on our capabilities at the same time.

    Visit Retirement Crash Test to get started.

    Increased wealth after age 70? Don’t bet on it.

    retired couple beach 150x150 Increased wealth after age 70?  Don’t bet on it.A recent article in the Financial Post concludes that spending by those who are retired declines with age and correspondingly wealth increases for those over 70 years of age. Our experience is quite the opposite among the higher net worth clients we have helped through retirement. In fact, I continually caution my clients to count on higher expenses in the future for the following reasons: [read more >>]