Canadian Lawyer

December/January 2021

The most widely read magazine for Canadian lawyers

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www.canadianlawyermag.com 19 SPECIAL PROMOTIONAL FEATURE Whether one seeks retirement or financial independence by a certain age, a financial planner can help to create the best path to take IF YOU'VE used GPS, you've probably driven down roads you wouldn't have chosen and through towns you've never heard of. And as long as you didn't end up in an unmarked lake, you might even have thought, "Wow, I never would have gone this way on my own, but I'm glad I did." Amardeep Sidhu sees similarities between GPS and the work he does as a financial planner for Lawyers Financial, a not-for- profit corporation that provides Canada's legal community with high-quality insurance and investment solutions. "Most people have a destination in mind when you talk to them about money," Sidhu says. "It may be retirement or financial inde- pendence by a certain age or maybe they have very specific dreams about how much money they want to have. In all of these cases, a "Savings are the building blocks. The more money you have to invest, the faster you can reach your goals," Sidhu says. 2. Asset protection It's good to accumulate a variety of assets as you increase your wealth. It's just as important to protect them with the right combination of insurance. Without protec- tion, you could find yourself back at the beginning of your trip and having to start over again. 3. Retirement planning When retirement is the destination, you want to arrive with a reliable source of income for life. An advisor can help you create a plan that provides you with steady cash flow while minimizing taxes and invest- ment risk. Sidhu encourages clients to see retirement as the start of a new trip — one that also requires a detailed plan. 4. Estate planning Your lifetime of hard work can pave the way for others. It's never too early to think about how your estate could be used to give your loved ones a leg up and ease their financial burdens. Navigating your investments is never easy. But with the help of a qualified financial advisor, you can chart the path that's right for you. Visit lawyersfinancial.ca/myfinancialplan Financial planning takes you down new roads financial planner can help to create the best path to take." In time, the value of financial advice becomes clear when you reach your destina- tion with greater wealth and security because you went down the right roads and stuck to a plan that you might not have created on your own. Four steps to planning your route Planning a trip isn't as complicated as managing your investments — and the stakes aren't nearly as high. That's why Sidhu and his team break the process into four parts: 1. Cash management Getting a handle on where your money goes and finding ways to save more of it is the first step to increasing wealth. Brought to you by FINANCIAL PLANNING

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