Advisors in Mississauga explain future forecasts and the needs for professional financial planning and private wealth asset management.
The world of personal finance is complex and many residents of Mississauga and the Greater Toronto Area will wisely seek a professional financial advisor to assist them in building their private wealth or help them with the management of their assets.
The current economic turmoil makes it harder to simply maintain the status quo, and creating wealth for the future is becoming a bigger challenge every day. Some socioeconomic forecasts indicate that the next generation will have difficulty achieving the same standard of living as their parents, and may have to scale back their expectations. The implications of these predictions are worrisome indeed.
These socioeconomic issues will be magnified as our population ages and reaches retirement. The crisis in the financial markets has already severely impacted the retirement savings of the baby boom generation, and continued employment is not necessarily an available option. The Canada Pension Plan and Old Age Security alone will probably not provide sufficient income for even the most basic needs as inflation drives the cost of living higher and higher. There is a very real possibility that many retirees and their families could be facing a future of financial hardship. If the people who have made an effort to save for retirement are at risk, then it stands to reason that anyone who did not put a retirement plan in place and who did not accumulate a substantial nest egg could find themselves in dire straits. The consequences for our communities as a whole could be profound.
The City of Mississauga has adopted a Health City initiative which is intended to promote and support healthy living in the community. The focus of this initiative is mostly on the access to the medical and social services that serve physical and mental health issues. Economic and financial security is acknowledged as contributing to well being, and conversely, socioeconomic vulnerability is recognized as linked to poor health. This adds an economic burden to every level of government, and ultimately costs our society in general. The subject of financial well-being is not addressed by the Healthy City initiative. When finances are so obviously linked to health and well-being, it seems that a greater emphasis should be placed on education in this area.
It is clearly more important than ever for individuals to consult professional financial advisors for private wealth and asset management. At Dedicated Financial Solutions, Janet Baccarani and Jennifer Black, Financial Advisors and Certified Financial Planners with Manulife Securities Incorporated and Manulife Securities Insurance Inc. it is a high priority to educate clients in financial matters. They believe their best clients are those who are well informed. Manulife Securities Incorporated and Manulife Securities Insurance Inc. are independent dealers, so Janet and Jennifer are not required to recommend only Manulife products and can select from among a wide range of companies offering the very best financial products available. Janet and Jennifer are committed to a multi-generational approach to financial planning, so that future generations of each family can enjoy the security and peace of mind their family members worked so hard to achieve. Each financial plan is tailored to each individual and, if possible, it will minimize taxes and be optimized for creating wealth. Janet and Jennifer encourage residents of Mississauga and the GTA to take the time to assess the services and products that a professional and independent financial advisor can provide and to take steps to ensure a healthy and financially secure retirement – paving the way to the Healthy City of tomorrow.