The Tax Chick Podcast What is a holistic wealth advisor and why do you need one?
Jul 14, 2022
Join Sarah Kolla-Empey, a wealth advisor with CPA, TEP, and CFP designations, as she dives into holistic wealth planning. Sarah explains that it's not just about RRSPs or TFSAs; it’s about crafting a financial plan that adapts to your life’s evolving goals. She highlights the importance of flexibility in financial strategies and addresses common gaps in estate planning. Discover practical tips to enhance your relationship with your advisor, emphasizing an active role in aligning your finances with your dream life.
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Young Couple's Dual Goal Strategy
- Sarah described working with young professionals who wanted to both pay off their mortgage and invest for retirement.
- The chosen plan extended mortgage payoff by four years but produced an extra projected $280,000 in invested assets.
Revisit Goals As Life Changes
- Expect goals to change and revisit plans regularly as life events shift priorities.
- Keep flexibility so choices at 30 don't close doors at 40 when circumstances evolve.
Don't Skip Defensive Planning With A Pension
- Review defensive planning even with a pension: check insurance, estate, and protection gaps.
- Use an advisor to remove emotional bias and surface options you wouldn't know to ask about.