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QuestionsMany self-employed professionals find themselves bombarded by financial, legal and tax strategies and would like to achieve clarity as it relates to their personal situation. They would much prefer to connect their values and priorities with today’s changing economic and tax landscape so that they have a sense of direction and are in control of their financial affairs. Also, they often feel financially overwhelmed by the competing interests of acquisition opportunities and managing their current cash flow.

Questions

  1. How do I determine my priorities as they relate to my “wants and needs” without getting caught up in the external pressures created by friends and colleagues?
  2. How do I achieve a balance between lifestyle desires and reality requirements?
  3. What is considered “reasonable” in lifestyle spending that will allow me to enjoy the fruits of my labour, yet be financially secure?
  4. How big a mortgage can I reasonably assume without jeopardizing my lifestyle? OR What kind of mortgage should I consider to comfortably take on?
  5. Is incorporating the right strategy for me?
  6. If something happens to me, how do I ensure that my family will be taken care of? Does the plan make sense? Will there be enough money?
  7. Does my will, corporate structure, etc., reflect my values, my family’s priorities and address my family’s overall financial security?
  8. I am the key economic engine in my family. How much disability insurance do I need to protect myself in the event of sickness or accident to maintain our current lifestyle?
  9. Is it there a tax-smart way to pass my estate onto the next generation that doesn’t cost a fortune or risk my financial security and independence?
  10. Should I consider leaving a family legacy? When? How much?
  11. How much of my income do I need to set aside to provide a comfortable income at retirement?
  12. What kind of investments should I consider to ensure that I will have enough money to retire when I want to?
  13. How can I continue to derive meaning and satisfaction from my work without the financial pressure of having to work on a full time basis?

 

 

 

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