In Part 1 of this video Eliott Einarson, CFP and partner at Exponent Investment Management, summarizes the steps of preparing a retirement income plan providing samples along the way. A good retirement plan creates strategies that maximize income while minimizing taxes and risks. He highlights the importance of going through the process as it brings clarity to your situation. Lastly, a plan is only effective if implemented properly. He explains how Exponent Investment Management builds the portfolio to marry the portfolio to the plan. The planner and portfolio manager work together to create the proper outcome.
In Part 2 of the video, Harman Mavi, estate lawyer at MLT Aikins LLP, covers the importance of estate planning. He explains the value of having a will and what happens if you die without one. When you should update your will is also covered. Harman goes through common pitfalls and mistakes when naming a beneficiary and executor. Finally, having a clear succession plan is critical to having your wishes met in the most efficient way upon your passing.