September 23rd 2020,\u00a0<\/p>\r\n\r\n\r\n\r\n
\u00a0COVID-19 and your retirement<\/strong><\/p>\r\n\r\n\r\n\r\n Retirement strategy<\/strong> Adjusting your retirement strategy<\/strong> September 23rd 2020,\u00a0 \u00a0COVID-19 and your retirement Among the devastations caused by Covid-19 beyond the pandemic aspect, no one can ignore those inflicted on your retirement planning. If you had to use your RRSPs to meet your budget requirements, you lost your job and stopped contributing; the value of your RRSP has decreased significantly? How […]<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[68],"tags":[],"class_list":["post-7040","post","type-post","status-publish","format-standard","hentry","category-non-classe-en"],"yoast_head":"\n
Among the devastations caused by Covid-19 beyond the pandemic aspect, no one can ignore those inflicted on your retirement planning. If you had to use your RRSPs to meet your budget requirements, you lost your job and stopped contributing; the value of your RRSP has decreased significantly? How are you going to get back on your feet when it comes to your retirement strategy?<\/p>\r\n\r\n\r\n\r\n
Remember that a retirement strategy is a backdrop, a guideline, not a plan set in stone. Generally, we can easily adjust this strategy together. If you didn’t have a strategy, it might be worthwhile to establish one.
Life expectancy in good health<\/strong>
Here is a new concept one should introduce into his retirement planning. How many healthy years do you hope to have from the date you retire? Since 1994, Statistics Canada has published a comparative study every 4 years between life expectancy and health-adjusted life expectancy. Here is the 2015 data released in 2018. For a man retiring at 65: his life expectancy is 19.2 years and his healthy life expectancy is 14.4 years. For a woman it is 22 years and 15.3 years.\u00a0This concept could influence your retirement strategy.<\/strong><\/p>\r\n\r\n\r\n\r\n
The further away you are from retirement, the easier it is to adjust your strategy. Here are some ideas to consider when revisiting your strategy.
\u00a0\u2022 Your retirement philosophy. Has Covid-19 made you envision your retirement differently?
\u2022 Your retirement income needs.
\u2022 Your retirement age.
\u2022 Your ability to increase your savings.
\u2022 The decrease (or the fear of it) of your retirement capital following the \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Covid-19.
\u00a0\u2022 Your life expectancy in good health.
\u00a0\u2022 \u2026\u2026\u00a0
It\u2019s important to review our strategy periodically. \u00a0I encourage everyone to take an appointment with me to review and adjust if necessary your retirement & savings plan. \u00a0<\/strong>
Mauro DiCesare, B.Comm, Pl.Fin<\/strong>Planificateur Financier\/Financial Planner\u00a0
Financial Security Advisor\/Conseiller en S\u00e9curit\u00e9 Financi\u00e8re avec Groupe Financier Finvest Inc.
Mutual Fund Representative\/Repr\u00e9sentant en \u00e9pargne collective avec Investia Services Financiers\u00a0Inc.
514-376-7771<\/p>","protected":false},"excerpt":{"rendered":"