A plan built only around investments
Returns matter, but a retirement plan also needs an income strategy, tax planning, estate coordination and a plan for the survivor.
Who we help · Second opinion
Retirement Second Opinion
A fresh look before your next big decision.
You may already have an advisor, a plan or a portfolio you built yourself. A second opinion is an independent look at whether it is ready for retirement: your income, taxes, investments and estate plan, and how they work together.
It is not about criticizing anyone’s work. It is about confirming what is working, finding what may be missing, and helping you make your next decision with confidence.
Why it is different
Retirement decisions are bigger, and harder to reverse.
While you are working, a mistake can be fixed with time and new savings. In retirement, choices such as pension options, CPP and OAS timing, RRIF withdrawals or selling a business are often permanent, and their effects last for decades.
Plans also drift. A portfolio set up ten years ago for growth may not suit someone about to start drawing an income. A second opinion checks that every piece still fits the retirement you are planning now.
People usually ask for a second opinion when something feels unclear, or just before a decision that is hard to undo. We help you work through questions like these:
- Is my plan built to pay me an income, or only to grow?
- Will my money last if markets fall early in retirement?
- Is my portfolio taking the right amount of risk for my age?
- Has anyone looked at taxes over my whole retirement?
- Am I taking CPP and OAS at the right time?
- Should I take my pension as income or as a lump sum?
- Do I understand what I am paying, and what I get for it?
- Are my investments spread out, or doubled up across accounts?
- Are my estate documents and beneficiaries aligned with my plan?
What to be careful of
Six things to watch for.
No written income plan
If you cannot see where each year’s income will come from and in what order, withdrawals tend to happen by default rather than design.
Big decisions without comparison
Pension commuted values, early retirement packages and selling a business deserve a side-by-side look at the options before you sign.
Not knowing what you pay
Fees are not bad in themselves, but you should know what they are and what you receive for them.
Hidden concentration
Several accounts at different institutions can hold the same investments, leaving you less diversified than you think.
Estate documents out of step with the plan
Beneficiaries and account ownership can quietly override your will. Check that they match what you intend.
Common risks
The risks that matter most.
Income riskYour plan may not produce reliable income when the paycheque stops.
Sequence riskA market decline in the first years of retirement can do lasting damage.
Tax riskWithdrawals planned one year at a time may cost more tax over a lifetime.
Concentration riskOverlapping holdings may leave you less diversified than you think.
Decision riskAn irreversible choice made without seeing the alternatives.
Estate riskBeneficiaries and ownership may not match your will or your wishes.
Drift riskA plan that suited you years ago may no longer fit your goals today.
Checklist
Second opinion checklist
A quick starting point. Tick each statement that is true for you today.
01
Discover your retirement picture
What you have today: statements, plans, pensions, benefits, documents and your goals.
02
Identify gaps, risks and blind spots
A review of income, tax, risk, fees, overlap and estate gaps, and what is already working well.
03
Build your retirement income strategy
Whether your savings and benefits can produce the income you need, and in what order to draw them.
04
Align investments with retirement outcomes
How your portfolio is positioned for retirement income, market declines and inflation.
05
Plan for taxes, estate and family transitions
Tax-efficient withdrawals, beneficiaries, wills and powers of attorney checked against your plan.
06
Review, adjust and manage over time
A clear written summary, and ongoing reviews if you choose to work together.
Questions people ask
Frequently asked questions
What is a retirement second opinion?
An independent review of your current retirement plan or portfolio: whether it produces reliable income, manages tax, takes the right amount of risk and is coordinated with your estate plan. It confirms what is working and identifies what may be missing.
Do I need to leave my current advisor?
No. A second opinion is a review, not a commitment. Many people simply bring the findings back to their current advisor.
What should I bring?
Recent investment and pension statements, your most recent tax return, any written plan you have, and your will and powers of attorney if available. Your CPP Statement of Contributions from My Service Canada Account is also useful.
When is a second opinion most valuable?
Before decisions that are hard to undo: choosing a pension option or commuted value, accepting an early retirement package, starting CPP or OAS, converting an RRSP to a RRIF, or selling a business.
Is there a cost?
The first conversation is complimentary and carries no obligation. If you want a full review after that, hourly advice is $300 an hour and a written Retirement Blueprint is a fixed fee from $2,500, both agreed in writing before any work begins. All fees are on our Fees and Services page.
General information only. Rules differ by province and change over time; your situation should be reviewed individually.
The goal
Confirm what is working. Fix what is not.
Many second opinions end with good news: the plan is sound, with a few adjustments. Sometimes they uncover a gap that is far easier to fix now than later.
Either way, you leave with a clearer picture and no obligation to change anything.
Ready for a fresh look at your plan?
You do not need every answer before starting. That is the point of the process. Take the Scorecard or book a Retirement Clarity Call to find the questions, risks and opportunities in your current retirement plan.
Prefer to start with numbers? Try the free Retirement Budget Planner. Getting your family ready? Get the free Red Folder checklist.