Risk and Managing Risk
What is RISK?
Here at CSIA, risk comes in three main categories:
1. Catastrophic Risk: The risk of dying prematurely or becoming injured or seriously ill where you can no longer work and earn an income, and where you and those you care about rely on your income for their necessities and general lifestyle.
2. Longevity Risk:The risk of living too long when your retirement nest egg runs out, either due to living well beyond your financial plan or having your savings eaten away by rising health-care costs.
3. Taxation Risk: The risk of paying too much taxes to the Canada Revenue Agency [CRA], either during your life due to high income levels or via your estate with final expenses, capital gains taxes, probate and legal fees.
CSIA's mandate with our clients is to identify, quantify and mitigate their exposure to financial risk.