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I need help to plan a successful career transition

Advance financial planning can make all the difference when you change your career path – whether the change was your choice or not.

Increasingly, Canadians are tackling the issue of career change, sometimes owing to circumstances beyond their control, such as economic conditions or changes at the company they work for. Other times, they seize control of their own destiny because of dissatisfaction in their current position or because financial success allows them to explore new options.

How we can help

In these circumstances you need the services of a professional who can help you make the best financial choices. Your BMO Nesbitt Burns Investment Advisor can help.

If you’re evaluating a severance or early retirement package, your Investment Advisor has the skills and analytical tools to help you assess your options and decide on the best course of action.

If you accept a termination agreement, early retirement or another financial option, your Investment Advisor will help you develop an investment strategy to make the most of the money you’ll receive. This will involve important tax considerations, which could result in the ability to shelter part of your termination package from income tax, or at least reduce the tax you’ll pay. Your Investment Advisor will recommend effective solutions from BMO Nesbitt Burns’ wide selection of investment options.

If you are exploring new career options, it is even more important to assess your current financial situation. You may need to increase your savings in the short term or alter your long term investment strategies. Or, if you are financially well-off, you may need expert help to assess options such as financing your own business.

Let a BMO Nesbitt Burns Investment Advisor take the guesswork out of career transition planning. Contact a BMO Nesbitt Burns Investment Advisor at a branch near you. Or, to have an Investment Advisor contact you, fill out this form.

Advice in action: Xui Li

Xui Li’s career may be about to take an unexpected turn. Her employer is downsizing, offering Xui Li, and other employees, an attractive severance package equal to two years’ salary. She needs to provide her employer with a response within the next two weeks.

If Xui Li takes the package she would be out of work. But at 39 Xui Li is confident she can find another mid-level management position. Plus, she’s concerned that if she doesn’t accept the package, her employer may not rebound from its current financial difficulties. The severance would provide Xui Li with a considerable cash sum over the next two years, which could be invested. But Xui Li isn’t sure just how far the money will go, particularly after taxes.

A BMO Nesbitt Burns Investment Advisor can quickly assess whether it makes financial sense for Xui Li to accept her employer’s offer, and can recommend strategies to minimize taxes. An Investment Advisor will use sophisticated planning software to determine how the buyout would affect Xui Li’s financial future. Should Xui Li accept the offer, her Investment Advisor can recommend suitable investments and help Xui Li manage her finances during her transition period.

Find an Investment Advisor Have an Investment Advisor contact me Contact us: 1-800-334-7534