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 The first step in maximizing your cash flow is to know exactly how much income you’re receiving, when you receive it and in what form.
Then, because cash flow is a two-way process, you need to determine the other side of the equation – how much money is flowing out to expenses and when do those expenses occur.
We’ve made this process a little easier for you with our planning tools and budget calculators. They’ll allow you to get a clear picture of your cash flow and see any potential surpluses or deficits.
Once you’ve done this, you’ll be able to create a budget and an investment plan that fits in with your lifestyle. Most experts agree that an effective investment plan should be based on a portfolio approach.
The power of a portfolio approach
Taking a portfolio approach can be a highly effective way to meet your goals. It means tailoring a diversified mix of investments that will meet both your present and future needs.
For a portfolio to do that, it should . . .
- provide the regular cash flow you need to help support the lifestyle you want
- help you keep up with inflation
- provide the opportunity to save on taxes
- give you the flexibility to access some of your funds should an unexpected need arise
An RBC Cash Flow Solution can help you meet these goals. To learn more, contact an RBC financial planning professional.
Continue reading with “Being Tax Efficient”.
Financial planning services and investment advice are provided by Royal Mutual Funds Inc., a member company under RBC Investments. Royal Mutual Funds Inc., Royal Bank of Canada, Royal Trust Corporation of Canada and The Royal Trust Company are separate corporate entities which are affiliated. Royal Mutual Funds Inc. is licensed as a financial services firm in the province of Quebec.
There may be commissions, trailing commissions, management
fees and expenses associated with mutual fund investments.
Mutual funds are not guaranteed, their values change frequently,
and past performance may not be repeated. Please read the
prospectus before investing.
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