When it comes to retirement, many clients fear running out of cash while they still have plenty of living to do. As an advisor, there’s a lot you can do to ensure your clients are prepared. This month’s Global View tackles a few of the subjects that can have an impact on whether your clients live like paupers or princes in retirement.
Who’s relying on them? Writing for Next Avenue, Diane Harris debates the fine line between helping your kids out and “hobbling them on the path to full-fledged adulthood.” Her basic point: being overly generous with the kids can leave them with unrealistic expectations, not to mention potentially torpedoing your retirement plans. She offers guidelines for offering financial support, and then transitioning from provider to advisor.
Where do they live? Sometimes stretching a nest egg means finding an exciting new nest. This CNBC article by Catherine Campo details some of Europe’s best value places to live in retirement.
With whom do they live? Globe and Mail reporter Rob Carrick makes the case that seniors who choose to move in together should consider a co-habitation agreement or risk losing savings when the relationship breaks up.
Who’s managing their money? So-called robo-advisors are generating a lot of buzz these days. But in this highly critical article in Forbes magazine, Brett Owens argues the insights they offer are too often based on simply looking in the rear view mirror and sometimes applying the information incorrectly. That faulty analysis can have a detrimental effect on peoples’ retirement savings plan, he contends.
How are they spending their time? Data from 1,526 retirees suggest that there are three main ways clients can tilt the odds in favour of having a highly satisfying retirement. This Money article by Walter Updegrave shares their wisdom.