“Easier said than done” describes many things, including retirement planning. Canadians have a lot to think about before they can retire with confidence. Money-wise, they’ll need enough to cover the basics (food, housing, utilities), their retirement lifestyle, health-care costs and, for those wishing to leave money to family or a meaningful cause, a legacy. For some, retirement will last 30 years or more1—so they’ll need their money to last. Lifestyle decisions—where they’ll live, what they’ll do each day, things they dream of doing—need careful consideration. They also need to think about inflation, volatile markets and low interest rates.

Retirement planning can be complicated. Now more than ever, clients need your help. Your understanding of today’s savings and income products and how they address different needs can make navigating the retirement planning terrain much easier for them. And Sun Life Financial can make it easier for you.

Money for Life is Sun Life Financial’s customized approach to financial and retirement planning.2 It’s clients working with you to select the right mix of life, health and wealth solutions to build their savings, protect their family and retire with confidence.

To start a conversation, we offer innovative marketing tools and resources to encourage open dialogue between you and your clients to determine exactly what they want in retirement and how to get there. Check these out and learn about others from a Sun Life Sales Director or at www.sunlife.ca/advisor.

  1. Sustainable income demo – Available in the “tools and calculators” section of the Money for Life web app, this three-step demo is a quick, compelling way to show clients the value of adding a life annuity to their portfolio.
  2. Money for Life retirement expense and income workbook – This convenient four-page workbook helps build a complete picture of your clients’ retirement expenses (including basic and lifestyle needs as well as one-time events) and how they’ll cover them.
  3. Money for Life retirement lifestyle quiz – Live at the cottage? Join a gym? Return to school? With this 12-question quiz, you can help your clients determine—and plan for—the retirement lifestyle they really want and can enjoy. Encourage couples to complete it separately and compare answers to see if they share the same retirement vision.
  4. Money for Life whiteboard videos – These engaging videos will get clients thinking about their basic, health and lifestyle needs throughout retirement, the importance of a good plan and how you can help. Use them in meetings or send the YouTube link to your clients before you connect.
  5. Money for Life ‘sound bites’ – This series of conversation-starter documents contain stats, questions and explanations you can use to start the retirement planning conversation with clients—whether it’s about their basic, health, lifestyle or legacy needs.

1At age 65, more than one in six women will live to age 95: more than one in 12 men will live to age 95: three out of 100 men and women will live to age 100. Source: Statistics Canada, Life Tables, 2012.

2Only advisors who hold CFP (Certified Financial Planner), CH.F.C (Chartered Financial Consultant), F.Pl. (Financial Planner in Quebec), or equivalent designations are certified as financial planners.

Originally published on Advisor.ca