My wife and I started thinking about our possible retirement. We began collecting sample financial information and investigating how retirement works in Canada. We began to listen formal talks given by Canadian financial institutions, asked our retired friends and of course, consulted with our financial advisor.
One of source of information was the internet and YouTube, where you can find almost unlimited information and advice. While browsing through internet and YouTube, we found the videos of Adam Bornn, from Parallel Wealth, in the year 2022. These videos captured our attention, for the topics covered, the way of presenting and explaining them in a professional but at the same time human, simple and realistic way. Mr. Bornn presented at YouTube real examples and the product that Parallel Wealth offered to clients, which was not only the calculation of the withdrawal allocation, but the way to do it, the fiscal implications and the taxes to be paid per year.
We made the decision to contact Parallel Wealth. We reviewed their website and sent an email to contact the company and asked about their services. We received from Parallel Wealth precise instructions on the information to be sent and its level of detail, steps to follow and payment method.
We decided to get their advice and opinion to develop our retirement plan. Brett Martinsons and Parallel Wealth staff contacted us providing the details of the information we needed to submit. All the information was done online in their secure document server. After reviewing our information, Brett met with us online and discussed some of our questions and also assumptions for our retirement. It was a very open dialog where Brett really made the effort to understand our assumptions and also our expectations. During all this process Brett mentioned the access to financial planning information available as clients of Parallel Wealth. He also provided a very useful video on what to expect as a final plan to confirm whether it was according to our expectation.
Once the calculation and the plan as finalized, Brett set up an online meeting to present to us the final plan. He also provided a “sneak preview” of the overall plan results before the meeting so we had an idea and develop our questions before the final meeting.
The meeting was really straight forward. He presented our results and made sure to highlight his recommendations and that the way the calculations were done took into consideration our assumptions for inflation or interest earning for our investments. He also provided additional discussion and arguments for delaying CPP to 70 years (a frequent topic of Parallel Wealth videos in YouTube).
Brett brought us a detalied picture into our future. He has helped us to increase our confidence with a complete financial plan, year by year, in detail that include the best advice to use our resources and taxes that we must pay any year. Brett has created our retirement plan and a path for the coming years of retirement. He made it a very complex subject more simple and easily understandable for us.
Parallel Wealth met all our expectations. We feel that they developed very trusting relationship with us as a client and as a result, we feel confident about the importance of the next steps for our retirement and how we can plan it in more detail, monitor our plan. It was a great experience and we are very happy we made the decision to count on Parallel Wealth for advice.