I want to enjoy my retirement
The transition to retirement brings significant changes – personal, professional and financial. It’s an exciting time, but also a time to take stock and regroup for this next stage of your life. We can help you do that by making sure your financial plan is on track to allow you the most rewarding retirement possible.
While we spend much of our working lives imagining how easy and enjoyable retirement might be, in reality it’s a major life change that can keep many of us awake at night. So much of our social and financial satisfaction is tied to our careers, and our finances are often completely structured around a regular salary. At this stage, a solid plan can help you feel confident about enjoying your retirement.
How we can help
Your BMO Nesbitt Burns Investment Advisor can help make sure the transition from working life to retirement is financially sound and aligned with how you want to enjoy this stage of life.
Your Investment Advisor can also help you answer these crucial questions:
- How can I effectively meet my financial commitments from savings and investments now that I no longer draw a regular salary?
- If I continue to work part-time or as a consultant, how do I balance this income with income from my investments in a tax-effective way?
- How do I integrate income from pensions and other sources, with retirement savings, to finance what could be 30 or more years of retirement?
- How do I finance the goals I have been planning such as buying a retirement property, starting a business, or financing travel?
- How do I make sure my investments are focused on income generation and preservation of capital?
- Do I have enough assets to leave the legacy I want for my loved ones and my community without hindering my own future?
Your BMO Nesbitt Burns Investment Advisor will continue to work with you as you move through retirement, making sure your finances evolve as your retirement lifestyle evolves.
Advice in action: Rosemary and Gerry
Rosemary and Gerry are senior civil servants about to fully retire. Rosemary left her job a year ago, and in a few months Gerry will be leaving his. Both Rosemary and Gerry are healthy and active, so they’re looking forward to a long retirement together.
They’ll both have a moderate level of income from their pension plans, and they’ve saved a considerable sum in their RRSPs. They want to manage their income so they can enjoy the lifestyle they’ve been looking forward to in retirement, including enough money to cover travel and any unexpected health-care expenses in their later years. If they have the resources, they’d like to buy a second home in Arizona and spend winters there. They also want to leave money to their children and grandchildren.
A BMO Nesbitt Burns Investment Advisor can help Rosemary and Gerry realize their plans for an active retirement. By working with them while they’re on the cusp of full retirement, an Investment Advisor can help the couple clarify their retirement lifestyle objectives and manage their investments and income so their retirement dreams become a reality. Before they make a commitment to a second home, their Investment Advisor can help Rosemary and Gerry explore financial strategies that are suitable for snowbirds, while ensuring they’ll leave a legacy for their family.