Planning for retirement involves chasing a constantly moving target. The government changes, and the rules and tools change with it. Clients get older and revise their financial targets up or down. They get sick or lose a job, or perhaps the market takes a dive, and plans change again. This month’s Global View looks at the things clients can control when it comes to retirement planning.

  1. How much they save. MoneySense staff point out that, while 60% of Canadians are saving for retirement, most aren’t doing it wisely. Among the issues: We’re saving too little, we’re investing too much in cash and we haven’t got a plan in place. In fact, as this Globe and Mail article by Clare O’Hara points out, many Canadians with workplace pensions don’t even know their contribution limits.
  2. How they invest. MarketWatch columnist Howard Gold makes the case that baby boomers have far too much of their money invested in the stock market, making them vulnerable to market downturns. And NextAvenue featured expert Ari Rastegar points out that real estate is an asset class retirees shouldn’t ignore.
  3. Spending in retirement. This article by Ryan Guina in U.S. News offers tips to help clients stretch their dollars when living on a limited pool of money in retirement. Where clients take up residence makes a difference too, according to Andrew Seale. He explored the most and least expensive provinces to retire in for Yahoo! Canada.
  4. Their health … at least to a certain extent. In this Medical Observer story, AFP correspondent Kerry Sheridan looks at a study designed to reveal how to stay sharp and active in old age by looking at the habits of “super-agers”: people who age more slowly.
  5. The impact of government policies. We all have only one vote, but clients should at least be aware of what a change in government can mean for their retirement plans. This North Shore News article by Lori Pinkowski details how the new Liberal government is likely to affect their portfolio, retirement plans and taxation.

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