Page 9 - January2016Spectrum
P. 9
ADVERTORIAL
Key Quesions to Ask When
Planning for Reirement
By Florence Habel, Senior Wealth Advisor, Meridian
A trusted inancial advisor can help you plan for just living there it isn’t generaing income. Approximately 30
about any of life’s major events, and one of the most per cent of home equity can in fact be used as part of a
concerning – paricularly in the current economic envi- reirement plan if you do plan to sell and downsize or
ronment – is planning for reirement. move to a diferent town, but housing prices luctuate
too much to really use it as a guaranteed investment and
A inancial planner can help you navigate through the it can be a costly too. It can be part of your plan but
rather frustraing and confusing world of personal i- don’t count on it to be a guaranteed amount.
nance. Here are some key quesions you can ask – and
other things to keep in mind – that will help make a con- 4. Do I have the right inancial plan in place to
versaion about reirement planning with a inancial ad- ensure my dream reirement?
visor more producive. A inancial plan is never writen in stone. Based on your
current life situaion, your plan needs to be coninually
1. What does your reirement look like? updated to ensure it its with your current lifestyle. Un-
Everyone has a diferent reirement dream and by shar- derstand the breadth of services and investment opions
ing that dream with your inancial advisor they can help your inancial planner can provide you with. At Merid-
you develop a inancial plan to get you there. ian, for example, we ofer a full range of investment op-
ions including stocks, bonds, ETFs, pooled funds and
2. How much money will I need to reire? mutual funds.
Now that you have an idea of
what your ideal reirement looks My rule of thumb is to treat your
like, now you need to igure out inancial plan like you would your
how much you need to save to yearly physical. Make it a priority to
get there. While there is no meet with your inancial planner at
standard cookie-cuter answer, least once a year to discuss any life
many inancial experts agree changes that will impact your goals
that on average, you will need and also to assess if your inancial
between 60 per cent and 80 per porfolio contains the right invest-
cent of what you earned pre-re- ment mix to meet your needs.
irement. Keep in mind many of
your ixed expenses, such as your mortgage, will no lon- To learn more about inancial planning visit
ger be a factor and therefore your cost of living may not www.meridiancu.ca or come and visit me at Merid-
be as high as it was during your pre-reirement lifestyle. ian’s Cambridge Branches at 101 Holiday Inn Drive or
125 Dundas St N.
3. Should my home be my only reirement nest
egg?
Many people view their homes as a good reirement
investment and make that part of reirement planning. ™
But keep in mind that it’s a ixed asset and if you’re sill
www.cambridgechamber.com Winter 2016 9
Key Quesions to Ask When
Planning for Reirement
By Florence Habel, Senior Wealth Advisor, Meridian
A trusted inancial advisor can help you plan for just living there it isn’t generaing income. Approximately 30
about any of life’s major events, and one of the most per cent of home equity can in fact be used as part of a
concerning – paricularly in the current economic envi- reirement plan if you do plan to sell and downsize or
ronment – is planning for reirement. move to a diferent town, but housing prices luctuate
too much to really use it as a guaranteed investment and
A inancial planner can help you navigate through the it can be a costly too. It can be part of your plan but
rather frustraing and confusing world of personal i- don’t count on it to be a guaranteed amount.
nance. Here are some key quesions you can ask – and
other things to keep in mind – that will help make a con- 4. Do I have the right inancial plan in place to
versaion about reirement planning with a inancial ad- ensure my dream reirement?
visor more producive. A inancial plan is never writen in stone. Based on your
current life situaion, your plan needs to be coninually
1. What does your reirement look like? updated to ensure it its with your current lifestyle. Un-
Everyone has a diferent reirement dream and by shar- derstand the breadth of services and investment opions
ing that dream with your inancial advisor they can help your inancial planner can provide you with. At Merid-
you develop a inancial plan to get you there. ian, for example, we ofer a full range of investment op-
ions including stocks, bonds, ETFs, pooled funds and
2. How much money will I need to reire? mutual funds.
Now that you have an idea of
what your ideal reirement looks My rule of thumb is to treat your
like, now you need to igure out inancial plan like you would your
how much you need to save to yearly physical. Make it a priority to
get there. While there is no meet with your inancial planner at
standard cookie-cuter answer, least once a year to discuss any life
many inancial experts agree changes that will impact your goals
that on average, you will need and also to assess if your inancial
between 60 per cent and 80 per porfolio contains the right invest-
cent of what you earned pre-re- ment mix to meet your needs.
irement. Keep in mind many of
your ixed expenses, such as your mortgage, will no lon- To learn more about inancial planning visit
ger be a factor and therefore your cost of living may not www.meridiancu.ca or come and visit me at Merid-
be as high as it was during your pre-reirement lifestyle. ian’s Cambridge Branches at 101 Holiday Inn Drive or
125 Dundas St N.
3. Should my home be my only reirement nest
egg?
Many people view their homes as a good reirement
investment and make that part of reirement planning. ™
But keep in mind that it’s a ixed asset and if you’re sill
www.cambridgechamber.com Winter 2016 9
