Dean is a Professor Emeritus after a 30-year position at UBC. Janine was a school teacher with 22 years of service. As retirement approached, Dean and Janine recognized the need to get clarity around retirement.

Dean had accepted an invitation to an educational retirement planning workshop and luncheon presented by Frank Danielson. Dean quickly realized that he did not have the specialized knowledge or time to address their finances, so he booked a “Discovery Meeting” with Frank.

Frank met with Dean and Janine, and helped them clearly identify their retirement goals. At the next meeting, their financial plan was generated. Dean and Janine now utilize Frank’s Personal CFO program. Within a year of meeting Frank, the couple had:

• “Income splitting” strategies that reduced their family taxes and the OAS claw-back.
• A customized asset mix for their pension to ensure they maximize their after-tax income.
• Updated each of their wills to include: testamentary trusts that would help their children save income tax.
• A detailed timetable outlining the different sources of retirement incomes they could expect over the next five years.
• A significant legacy plan that eliminated their estate taxes of $570,000, while maximizing the amount flowing through to their children and their favorite charities.

Frank now meets with Dean and Janine regularly throughout the year, providing consolidated reporting. Dean and Janine feel as though they can really focus on what’s most important to them: spending time with family and leading rich and rewarding lives.