Financial planning partnership a first for professional players’ association
Majority of young adults recognize the importance of retirement planning, but few have thought about how much they should be saving
Retirees are less likely to make extra payments, which can lead to higher interest costs over time
Francis D’Andrade, managing director of Aurora, Ont.-based consultancy Financial Outcomes, talks about the three most common myths about retirement, and how advisors can inspire their clients to realistically plan their financial future. D’Andrade spoke with Paula Virany, multimedia editor, Investment Executive, at the TMX Broadcast Centre in Toronto.
Help clients with a strategy to pay down debt and reduce interest costs
The conventional idea that retired clients can withdraw 4% of their capital annually and not outlive their savings is being revised. Instead, retirees should cut back spending when it is appropriate, or risk running out of assets
Retired boomers require 60% of their annual pre-retirement income, survey finds
Fewer than one-third are confident they will have enough money for a secure retirement
Boomers concerned about their health and their spouse’s health