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
Theresa Tosh, an advisor with TD Waterhouse Private Investment Advice in Toronto, describes her practice, which focuses on retirees and near-retirees. She discusses the metaphor she gives to clients to explain the transition from growing assets to deaccumulation. She spoke with Dan Richards of clientinsights.ca at the TMX Broadcast Centre.
Business owners do a better job of retirement planning and start investing at an earlier age
Annual spending of more than 2% of savings may be unsustainable
Brett Strano, an advisor with Edward Jones in Mississauga, Ont., talks about keeping clients on track with their retirement strategies even during stormy times. Strano discusses three “buckets” for retirement planning in the short and long term, focusing on “need to haves”, “nice to haves” and “never haves”. He spoke with Dan Richards of clientinsights.ca at the TMX Broadcast Centre.