The dawn of retirement marks an excellent time for clients to reassess everything from spending habits to marital health.
Alexander Graham Bell once said “when one door closes, another door opens.” The problem, he concluded: “We often look so long and so regretfully upon the closed door that we do not see the ones which open for us.”
The observation deck atop the CN Tower in Toronto has a built-in sway of 0.48 metres (1.7 feet). The reason? As engineers have long known, when buildings are capable of moving with the wind like a tree, they can withstand strong gusts.
Many people view retirement as a time to do all the things they couldn’t fit in while they were working – travelling, hanging out with family and friends, or taking up hobbies. But unexpected realities may put a crimp in retirement dreams.
In spite of your efforts to get clients investing in RRSPs year-round, too many wait until the last minute to make their contribution.
It has been a tough year for Canadian investors. Plunging oil prices, having among the developed world’s worst stock market (only Greece and Singapore fared more poorly) and continuing low interest rates have put pressure on returns.
Self-described “black, lesbian, mother, warrior, poet” Audre Lorde once commented, “It is not our differences that divide us.
Planning for retirement involves chasing a constantly moving target. The government changes, and the rules and tools change with it.
When it comes to funding retirement, the boomers are up against the most pressing challenge – even the youngest of the cohort face imminent retirement.
Twin chairs on the beach with a sunset in the distance. Or the opportunity to write a book, start a business or work part time at the local kitchenware shop. As most advisors know, one client’s “dream retirement” is another’s nightmare.