A lot of people think about retirement almost on a daily
basis. You may be one of them. As a financial advisor I help
clients plan the financial roadmap towards this goal. But as I take a
step back, I also see that most people
only think about the money they will need and they forget to look at the whole
picture.
With the extended period of longevity we have been given, we
have more years to consider filling besides having the money to do it with.
I am discovering that retirement for people is about leaving their
current job but not designing the new life they will have. The next
chapter after working could be even more challenging since the time horizon
could be longer than your working years.
People need to think about how they will fill their time and
still feel productive on a daily basis. In the past if you were 65, you were basically put out to pasture.
Since retirement years may have averaged 2 to 10 years we could cope with
the boredom that would eventually set in. Now we are given options after
working 25 to 35 years that we may retire regardless of age. In some
cases, working right out of high school or college meant that you were still
very young when you had the opportunity to take a pension and leave your
employment.
The question then becomes should I, or shouldn't I?
How much am I really working for if I stay? Is this the question
you should be asking or is the question really about what will I do to stay
productive and active? If you cannot answer this question with a plan to
fill the next 25 plus years then it may not be the right time for you to leave
your employment just because you can.
While you are working, your concentration outside of your
job, is to think about your life in retirement in great detail. Have
everything outlined as to where you will live, what you will do, where you will
travel to, in what style, etc. Your retirement plan should be about more
than just the money you save. After all there can be a challenge to
living a fulfilled life in retirement like you had when working. Just
something to think about before jumping into retirement with both feet and no
lifestyle plan as a life jacket.
Linda
J. Levesque, CFP®, FMA, FCSI®
Sr.
Investment Advisor
Director,
Private Client Group
HollisWealth Insurance Advisor
HollisWealth Insurance Advisor
HollisWealth
Insurance Agency Ltd.
Levesque
Wealth Planning
HollisWealth,
a division of Scotia Capital Inc.
One Corporate Plaza, 2075 Kennedy Road, 5th Floor, Toronto, ON M1T 3V3
Tel: 416-412-8018 / 1-800-322-4030 Fax: 416-332-6772
linda@levesquewealthplanning.com
One Corporate Plaza, 2075 Kennedy Road, 5th Floor, Toronto, ON M1T 3V3
Tel: 416-412-8018 / 1-800-322-4030 Fax: 416-332-6772
linda@levesquewealthplanning.com
‘Saving Today for a
Richer Tomorrow’™
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prepared solely by Linda J. Levesque who is a registered representative of
HollisWealth®
HollisWealth
is a trade name of Scotia Capital Inc. and HollisWealth Insurance Agency
Ltd. HollisWealth is a division of Scotia Capital Inc., a member of the
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Organization of Canada. Brokerage services provided by HollisWealth are
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Registered trademark of The Bank of Nova Scotia, used under licence. The views
and opinions, including any recommendations, expressed in this article are those of Linda J. Levesque alone
and not those of HollisWealth.
Levesque Wealth Planning is a
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