Elevated Wealth: How to make your retirement dreams a reality

Mother-daughter duo, Karen and Kayla from Karen Erickson & Kayla Caruana – IG Private Wealth Management are here to answer your questions about managing your wealth, preparing for retirement and planning your legacy for future generations.

In this series, Elevated Wealth, they’ll give you their expertise as CERTIFIED FINANCIAL PLANNER® professionals so you can elevate your financial planning.

“We love helping clients achieve their goals and their retirement dreams,” says Karen.

On when you should start planning your retirement, Karen and Kayla urge people to start as soon as possible.

“As time goes by, goals get in your way. If you’re young, you have to put yourself through school, and then you want to save for your first house and then you have a child—and every time you delay saving for retirement it leaves you less time to compound all of that money in order to grow your retirement pool of assets,” explains Karen.

Kayla adds that when you have more time to plan for all the things you want to spend money on in your lifetime, you have more flexibility.

“With the power of compounding and the power of time on your side, you can make decisions that are best for you at any time in your life, rather than being forced into specific decisions,” she says.

Other frequently asked questions they’ll go over in this episode include, how government benefits fit into your retirement plan, the best way to withdraw retirement savings, how to adjust your retirement portfolio as you get closer to retiring and what happens to your retirement savings if you pass away.

Kayla says their favourite thing about their business is “giving that stamp of approval” saying someone can hand in their resignation to retire.

“We get to watch them on Instagram and see them live the life they always dreamed of during retirement,” adds Karen.

Stay tuned for the next episode of Elevated Wealth!