One step at a time
Each new stage in life brings its own unique challenges, and as we age those challenges are usually health and finance-related. Let’s face it: sometimes thinking about our finances is the last thing we want to do because we worry that we’re not doing enough to ensure that we’ll have a secure financial future. In fact almost a third of Canadians feel they won’t be able to retire by age 65.1 But burying your head in the sand isn’t an effective way to deal with financial fears.
What can you do instead?
- Talk to other financially secure people your age. If you have friends or family members who are feeling good about their ability to live comfortably well into their retirement, ask them what strategies they used to achieve that end. Not everyone is comfortable talking about their finances, but at the very least they may share some been-there-done-that advice and other resources with you.
- Talk to an accredited advisor. It’s great to tap friends and family members for information, but ultimately talking to a professional is the best way to truly get a handle on the current state of your finances so you can plan for the future. At Foresters Financial™, we can recommend an advisor to work with you to ensure that you have the plans and protections in place for a comfortable retirement. Visit here for more information. For tips on choosing the right advisor for you, click here.
- Ask the right questions. Regardless of which professional you choose to consult, make sure to ask all the important questions, such as how government benefits, personal savings and investments fit together to build your plan, what your income needs will be, and how your plan can manage risks. This will help you make informed decisions towards realizing the retirement you want.
- Remember that Foresters can help. As a Foresters member, you have access to Legal Link which allows you to consult with a local legal professional for help with a variety of issues including wills, estate planning, home ownership and family law – all at a reduced cost. You also have access to Everyday Money, Our toll-free financial helpline that connects you to an accredited counselor who can help answer your questions about your personal financial matters such as debt management and budgeting.
Regardless of where you are in life, it’s never too late to take those important steps towards a more secure financial future. It can seem overwhelming, so don’t be afraid to reach out to an advisor and make use of the resources at your fingertips to help make your retirement dreams a reality.
414627A CAN/US (02/17)