In this week’s Gaining Altitude, Dan Richards, CEO, Client Insights, explains that as average life expectancies rise, quality of life, or ‘healthspan’, is becoming a important component of successful retirement planning.
While life expectancies are getting longer, the time in retirement that clients really will be able to enjoy - through travel and other activities - is, on average, restricted by health issues
Book review: So You Think You Are Ready to Retire?
Two stages to help clients build their retirement income
New LIMRA report points to lack of knowledge and planning
Peter Drake, senior vice president of retirement and economic research at Fidelity Investments Canada, discusses the changing face of retirement and how longer lives and lower interest rates are creating challenges for investors.
Even though Canadian equities markets are highly concentrated in a few sectors - and small compared with other markets - many clients remain uneasy about investing outside of this country. But it's a conversation advisors need to have
Canadian clients who spend significant amounts of time outside the country every year risk losing their health benefits, as well as possibly facing negative tax consequences
Tax rules allow for inadvertent overcontributions to a client's RRSP, which can grow tax-free for decades. But there are strict limits on the amount - and anything in excess of that could generate substantial penalties
Clients worried about outliving their money can receive steady income, but these products are not all the same - some comparison shopping is recommended. And patience is key: The older the client, the bigger the payout