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After many years of toiling and saving, you are heading into your golden years. Maybe you're on top of things and made all the right decisions – preserving your personal wealth and minimizing your family’s inheritance taxes – or maybe you feel like your finances could still use some tweaking. Either way, contact your BCV advisor, who can help ensure you're on the right path going forward.

Peace of mind in your golden years

Spend or save?

To enjoy a comfortable retirement, you need enough income from your pensions and investments to cover your expenses – while preserving your capital over the long term.

You can choose between an investment-based strategy or a spending-based strategy, according to your income and personal wealth. Or you can use both strategies, moving from one to the other as appropriate. 

Enjoy life while preserving your capital

If you opt for a spending-based strategy, you will have to supplement your retirement income because your combined pensions will not be enough to maintain your current lifestyle. You can draw on your savings for some of this time, depending on your needs.

Your BCV advisor can help you prepare a budget that lets you live the way you want. You’ll then be free to focus on your interests, which may include travel, cultural activities or other hobbies. You may even choose to devote time and money to others through philanthropic or volunteer activities.

Keep making your money work for you

An investment-based strategy focuses on building up your assets for the long term. Our advisors will recommend the best investments based on your financial objectives, risk profile, and investment horizon.

They can provide answers to important questions, such as:

  • Does your investment portfolio need to be restructured? Your investor profile is likely to change as you approach retirement, and it may be wise to turn an aggressive strategy into a more conservative one.
  • Should you do anything special with your mortgage loan or your home? As a retired homeowner, you should consider whether it's preferable to maintain your mortgage debt at its current level or to pay it down in part or in full. Or maybe you want to move into a home more in line with your changing needs.
  • How should you prepare your estate for inheritance purposes? One option is to give part of your estate to your heirs while you are still living.

Inheritance and taxes

If you already have enough of a financial cushion to enjoy retirement, you may want to pass along part of your estate to your children while you are still alive. Did you know that gifts to family members offer considerable tax advantages? If you live in Vaud Canton, for example, gifts of up to 50,000 francs per child and per year are tax deductible. Above this amount, the tax rate will depend on the size of the gift.

You can also draw up a will or an inheritance pact with the help of a notary, to ensure that your estate is divided up in accordance with your wishes upon your death.

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