I'm not going to let this go because I am passionate about helping the crowd who is preparing for retirement.
It only takes a quick glance at any grocery store, home depot or any box chain in reality to see more and more older employees. I'm willing to bet that these employees aren't working there because they enjoy being active, they are forced to work there as they simply don't and won't have enough money to live a comfortable retirement and even the financial means to survive in their last stage of life.
Canadian retirement assets are down 22% in sponsored pension plans, and even worse in most people individual RRSP's. How could any of us survive when all the money we had been saving was slashed by 25%,30% etc... It's very tough to find solutions in trying to re coup those assets as they don't have a long enough time horizon to meet conventional investment techniques( maybe not the best solution for any time horizon).
All of this leads into my recent passion of reaching out to anyone int their mid 40's to late 50's as they can significantly ensure they will have enough money to survive and have a retirement that is focused on relaxing not continuing to work. It is important to communicate and transfer information to this group, it could be a parent, spouse, neighbour or family friend they deserve to have the proper information when making decisions about their future.
I will continue this discussion with specific solutions and even specific product recommendations. Sitting back and hoping for the best results didn't work for an entire generation, so it's time to look forward and PLAN PROPERLY!
This afternoon I'll be writing letters to clients who's advisors have left the industry- thank you! See you tomorrow,
Tucker Wright- Toronto Life Insurance
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