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Preparing for Retirement

 (or re-treading for a new lifestyle)

Retirement Planning

Retirement can start at many different ages, but when you are age 50 - 65, you tend to start thinking about retirement.   You might stop counting your number of years of experience and start counting your number of years remaining to work.   These days, many Canadians stop a high-power or stress job and move to part-time or seasonal work, being "semi-retired".   You may be needed to take care of aging parents or help out with young grandchildren, but many in this age range are starting to feel that they are able to balance their work and their life.

The Value of an Advisor

The research shows that Canadians who rely on a financial advisor to guide their financial decisions are wealthier, more confident and better prepared for the financial implications of marriage, a new child, their children’s education, retirement and other life events. Click here to find the research on the Value of a Financial Planner.

Strategies for success

Position yourself for long-term success by following a few basic concepts. 

Don't miss out!  Compare the annualized returns of the S&P/TSX Composite Index if you remain fully invested vs. if you miss a few days.

Focus on the Big Picture:  See how markets behaved through short-term volatility and increase your wealth by staying the course

Go Global:  It's a big world out there, and each year, a different area outperforms.  You can benefit from broader diversification, balance, and potential growth by getting out of your back yard. 

Time heals all:  Equities tend to be less volatile, the longer you hold on to them; holding for longer is a strategy for success. 

Avoid the risk of safe investments:  Inflation, or the rising cost of living, can eat away at your savings.  For this reason, investments earning less than the rate of inflation are losing purchasing power. 

Start Early:  It's easy to put off investing, but take a look at how starting late means you end up with less money. 

Sustainable Investing

What used to be called Socially Responsible Investing is now defined as involving Environmental, Social and Governance (ESG) factors when building an investment portfolio.   While a recent study suggested 82% of Canadians are aware of sustainable investing, only 32% of those surveyed said they often invest in sustainable products.  Today, SRI is actively engaging with companies, encouraging them to adopt more sustainable behaviours.  In the area of Environment, they will look at emissions reduction, responsible water use, and waste reduction.  The Social category refers to respecting human rights and health and safety.  Governance relates to diverse representation on Boards of Directors, transparency and acting responsibly.  Contact us to find out more.

Canadian Public Pensions

Old Age Security (OAS) is based on Canadian residency.  Guaranteed Income Supplement (GIS) is for low-income recipients of OAS.  Canada Pension Plan (CPP) is paid to Canadians who contributed to the plan during their working years.  Find out about CPP and OAS eligibility, pension splitting, and collecting while working 

Old Age Security (OAS)

The previous Federal Government proposed moving OAS eligibility from age 65 to age 67, affecting those born in 1958 or later.  The Federal Budget of 2016 moved OAS eligibility to 65.  Those collecting OAS may also qualify for the Guaranteed Income Supplement for low-income Canadians.

Manulife RetirementPlus provides:

Growth potential

  • A wide range of investment funds to suit your investment style, with up to 100% equity
  • The ability to catch up financially towards achieving your retirement goals
  • The opportunity to benefit from potentially rising interest rates

Flexibility and control

  • Choose the amount of income, with either a partial or full income stream
  • You can access your market value if the need arises (fees may apply)

Guaranteed lifetime income

  • Optional guaranteed, lifetime income when the time is right for you

Is it right for you?

Manulife RetirementPlus may be the right choice if:

  • You are five or more years away from retirement
  • You seek flexibility in your retirement plan
  • You want lifetime, guaranteed retirement income
  • You need to catch up financially towards your retirement goals