Strategic or Target-Based Planning
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Financial success methodologies have evolved over the past 30 years with the advent of increasing computational power. Originally, planning was a simple spreadsheet projection of your current situation, plus some assumptions, such as savings rates, tax rates, investment returns and inflation rates. This would give you an idea of what your final destination would look like with much of the calculations being driven by Future Value and Present Value tables.
Today, financial advisors can use powerful software to model a comprehensive financial strategy.
Strategy-Based planning, in broad terms...
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Role Reversal - The New Reality
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Our parents raised us; we moved out, had children of our own and raised them. Then our children moved out and had children of their own to raise. It was supposed to stop there for us, but then one day we had to look after one or both of our parents.
According to a 2020 Federal Government report1, 25% of Canadians 15 years or older provide long term care to a family member. According to the Long-Term Care Planning Network, we may spend as many years caring for a parent as we did raising a child.
How can you tell if a loved one needs care support?
Some signs to look for are:
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Beware of These Scams Aimed at Seniors
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According to the Canadian Anti-Fraud Centre1, in 2023 there were over 62,000 reported fraud victims. Seniors in Canada are getting bilked out of more than $500 million every year. It is estimated that as many as one in five seniors have lost money to fraudsters and most don’t report it.
Even though seniors today may be mentally sharper than ever, they are still the con artists’ favorite target because they generally have more disposable cash and are often more trusting.
Also, with our population living longer, there are more elders in their 80’s and 90’s who are vulnerable because they live alone, have a certain level of memory loss and can be confused or frightened by slick scammers.
Scam artists try their tricks on...
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| Online Resources
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It’s fine to celebrate success, but it is more important to heed the lessons of failure.
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Bill Gates
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Shafik Hirani provides investment advice and securities/products through Aligned Capital Partners Inc. (ACPI). Shafik Hirani is a member of ACPI, a member of the Investment Industry Regulatory Organization of Canada (IIROC) and the Canadian Investor Protection Fund (CIPF). Shafik Hirani provides financial planning services and is licensed for the sale of life insurance products and investment products. Shafik Hirani is registered through separate organizations for each purpose and as such, you may be dealing with more than one entity depending on the products purchased. Shafik Hirani will provide the name of the entity being represented when insurance/financial planning business is conducted. The sale of insurance/planning products is not the business of or under the supervision of ACPI, and ACPI will not be liable or responsible for such activities. All non-securities related business offered by Shafik Hirani's Private Wealth Management Practice is not covered by the Canadian Investor Protection Fund (CIPF). Non-securities related business includes, without limitation, advising in or selling any type of insurance product, advising in or selling any type of mortgage service, estate and tax planning or tax return preparation.
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Shafik Hirani Private Wealth Management
#601 - 110 9th Ave SW, Calgary, AB
T2P 0T1
Ph: (587) 349-2274
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