Smart Move Financial Planning
Canadian Expat Financial Planning & Advice
Advice-Only Financial & Retirement Planning
Our mission is to help our clients achieve clarity and confidence in reaching their financial goals, while saving time, money, and minimizing taxes
We support Canadians in relocating or retiring abroad
Unbiased Financial Planning
Objective Financial Advice
Tailored to fit unique needs of Canadians relocating or retiring abroad
Importance of Financial Planning
Financial planning is essential for individuals and families to navigate life's financial complexities, achieve their goals, and secure their financial future. Crafting a robust financial plan offers a realistic assessment of financial standing, enabling to chart a clear pathway toward achieving goals.
The components of financial planning include retirement planning, tax planning, investment planning, estate planning, insurance needs analysis, financial management and debt management. One common misconception is that financial planning is only necessary or beneficial for the wealthy. However, this is far from the truth.
Financial planning for Expatriates
Expatriates face a unique and often complex financial landscape that differs from that of individuals residing in their home country.
Tax implications for Canadian expats, including residency rules, departure tax, tax treaties between countries, and additional factors such as complicated issues related to investments, fluctuating currency exchange rates and varying cost-of-living expenses can significantly impact an expat's financial situation.
Financial planning is essential for expatriates to navigate the complexities of living and working abroad, manage their finances effectively, minimize risks, taxes and achieve their long-term financial goals.
By proactively addressing the unique challenges and opportunities of expat life, individuals can secure their financial future and enjoy a fulfilling and financially stable lifestyle abroad.
Advice-Only Financial Planning
Smart Move Financial Planning provides Advice Only, Fee-Only Financial planning services, ensuring unbiased and objective advice. We do not engage in product sales and instead charge fees solely for the time and expertise devoted to our clients' financial planning needs.
This compensation structure eliminates conflicts of interest associated with commissions or sales incentives and ensures that the advisor's recommendations are unbiased and in the client's best interests.
Financial Planning for Snowbirds
As winter arrives in Canada, many retirees, known as "snowbirds", head to the warmth of the United States. While this offers a break from harsh winters, it also introduces unique financial planning challenges.
Navigating cross-border taxation is a major issue for Canadian snowbirds. Spending significant time in the U.S. can create tax obligations in both countries. Understanding and adhering to the IRS's Substantial Presence Test is crucial to avoid being classified as a U.S. resident for tax purposes. Effective financial planning helps manage and minimize tax liabilities in both Canada and the U.S. It also addresses retirement income planning, estate planning, property and investment management.
Reliable choice for
Canadian Expat Financial Advice
Discover the assurance of expert guidance, personalized advice, and dedicated support to navigate the complexities of relocating or retiring abroad
Expert guidance
Benefit from seasoned advice of a Certified Financial Planner, ensuring informed decisions for optimal solutions.
Personalized service
Tailored services matching your unique financial needs for a seamless experience.
Dedicated support
Receive unwavering assistance throughout, guaranteeing your peace of mind and satisfaction.
How it works
Easy process to find your ideal financial advice
Streamlined steps to navigate and discover the perfect financial planning service for your needs
Start with a free call to Smart Move Financial Planning
Book a free introductory call to discuss how we can help you meet your goals
Everyone's financial planning needs are unique
Our dedicated Certified Financial Planner is always ready to assist you with any questions or concerns you may have.
Insights and assistance
Smart Move Financial Planning frequently asked questions
Find answers to common questions and gain valuable insights into financial decision-making.
Smart Move Financial Planning can help you to address the question of retirement sustainability by assessing anticipated pension income, current savings, investment strategies, projected returns, projected expenses and inflation to ensure a comfortable retirement.
You can start receiving Canada Pension Plan (CPP) retirement benefits as early as age 60 or as late as age 70. You can start receiving Old Age Security (OAS) benefits as early as age 65 or as late as age 70. The age at which you choose to begin receiving government benefits will impact the amount you receive monthly.
Tax Implications: CPP and OAS benefits are considered taxable income, so it's essential to consider how starting your benefits at different times could impact your overall tax situation.
Your personal financial situation and retirement goals should guide the decision on when to start receiving CPP and OAS benefits.
Smart Move Financial Planning can help determine the optimal timing for starting CPP and OAS benefits based on yourlife expectancy, immediate financial needs, other sources of retirement income, and your overall retirement plan.
Choosing between receiving a pension and commuting can be overwhelming as it involves complex topics such as pension legislation and tax. Smart Move Financial Planning can analyze individual circumstances to determine whether commute or taking the pension would yield greater financial benefits.
Smart Move Financial Planning can assess your income, assets and expenses to determine if they are sufficient to support relocating or retiring abroad, considering factors such as tax implications, cost of living, inflation rate, projected returns, healthcare expenses, and potential currency fluctuations.
As a Canadian resident, you must pay taxes on worldwide income. Once you're no longer a resident, you only pay taxes on Canadian source income. Before leaving the country, it's essential to review your residency status, income sources, potential departure and withholding tax and tax treaties to optimize tax efficiency.
Smart Move Financial Planning can help you determine if severing residential ties with Canada is beneficial.
While we are not an accounting firm and therefore we don't process tax returns, we can recommend specialists for international tax matters and other financial concerns abroad.
Smart Move Financial Planning can evaluate how living or retiring abroad may affect government benefits and investment accounts in Canada, considering factors like eligibility, tax treaties, residency status, currency fluctuations, and potential effects on your income and investment holdings.
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Connect for personalized financial planning support
Reach out today for tailored financial planning solutions and expert guidance.
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